The car-making threshold is not low, and it is very difficult to make a profit, "Big Brother" Tesla spent 17 years to achieve annual profitability, when the main contributor was to sell carbon credits, rather than relying on selling cars.
The domestic car-making three brothers Wei Xiaoli has not yet reached the goal of annual profitability, and needs to "transfuse" through continuous listing and financing, but car-making is on the cusp, policy support, technological progress together give a huge imagination space, capital does not seem to value short-term profitability, but more concerned about the potential of long-term development, so after the emergence of a new batch of new forces, it is still sought after by hot money.
On April 29, some media reported that Rock Technology founder and CEO Chang Jing's car-making project Luoke Automobile has recently completed about $200 million in Series D financing, with a project valuation of $2 billion, led by the US hedge fund Coatue, sequoia Capital, IDG Capital and other well-known institutions have also followed suit.
The name of Luoke Automobile may be relatively unfamiliar, but the popularity of Stone Technology and Changjing is relatively high.
Stone Technology is a smart hardware manufacturer, but also the star company of Xiaomi's ecological chain, its products include intelligent sweeping robots, wireless handheld vacuum cleaners, landed on the science and technology innovation board in 2020, the current market value is close to 60 billion yuan.
Chang Jing, the founder of Stone Technology, has worked in a number of large factories, including program managers and product managers in Microsoft, Tencent, Baidu, etc., and is regarded as a "product-oriented" entrepreneur by the outside world.
Successful entrepreneurial experience + work experience of a number of large factories, so that Changjing's car-making project in the absence of enough exposure is also highly sought after by capital, at the end of last year, Luoke Automobile also received a round of financing led by Tencent, with a scale of 100 million US dollars.
The funds are in place, and Luo Ke's first car is also about to come out. According to public reports, the first car of Luoke will use range extender technology, positioned as a cross-country model of the benchmark Mercedes-Benz G series, with a range of more than 1,000 kilometers, and is expected to be launched next year.
Therefore, although the action is 4-5 years slower than the first batch of new car-making forces, the main market segment of off-road vehicles, coupled with financial support, may be able to give Luo Ke a certain opportunity to break through.
Not only Luo Ke, but also the financing road of other new car-making forces is also relatively smooth.
For example, Light Orange Times, which was founded in the middle of last year, announced the over-completion of the Pre-A round of financing in January this year, led by China Merchants Venture Capital, followed by Yigao Capital, Haojun Investment, wenluo Capital and so on.
Also in January, Box Auto, which is mainly engaged in the business of B-end online ride-hailing and taxi companies, successfully introduced the strategic investment of Luoyang Government and Wanfang Capital, without disclosing the specific amount. According to media reports, the product line of box cars includes manned vehicles and driverless vehicles based on skateboard chassis, the prototype car will be launched in August, the mass production vehicle will be launched in the fourth quarter of next year, and Luoyang will be the first pilot operation city.
Looking further ahead, "Huawei Prince" Li Yinan's car-making project Niu Chuangxin Energy raised $500 million at the end of last year, led by IDG and Coatue. Niu Chuangxin Energy's first car, self-propelled Youjia NV positioned as a medium-sized SUV, is available in both pure electric and extended range versions, and will be available and accepted for pre-order in March next year, with delivery in September.
It can be seen that after the above "new forces" have obtained financial support, the speed of production and research and development is also accelerating, and products will be pushed into the market next year.
On the other hand, the investors behind the new batch of car companies also seem to be somewhat different from Wei Xiaoli's batch.
Wei Xiaoli, Weima this type of new forces basically have the figure of Internet companies, such as Xiaopeng has Ali, ideal has Meituan, Weima has Baidu, and in the "new new forces", in addition to Luoke Automobile because Changjing once worked for Tencent and received its support, others are basically more favored by investment institutions than Internet giants, such as IDG and Coatue.
Lei Jun took Xiaomi to build cars independently, Baidu and Geely set up Jidu Cars, Ali and SAIC and Zhangjiang Hi-Tech built Zhizhi cars, obviously, Internet giants are no longer satisfied with simple "investing money", but want to increase the sense of participation.
Although the "new forces" can get the funds of investment institutions, the launch time of the product will most likely "collide" with the products of the Internet manufacturers, and after the big wave of sand and sand, there will be a group of new players who cannot be saved by hot money.
Produced by ZAKER News
Text / Bao Xingwa
Editor / Zeng Xiantian