Introduction
Lead
Xu Jiayin's Evergrande Automobile, because of the logic of "buying, buying and buying", has been questioned many times, but if Geely's growth history is also accompanied by the rapid growth of buying, buying and buying, what do you think?
Editor/Hongzu Hu said
At this juncture in front of you, any car company, almost when promoting a new car, will flip over and over the mention of two words, technology, plus an adjective, is "no one has me." The so-called inner volume that everyone in the automotive industry is talking about, it is not easy to have a series of new policies such as intelligence and hybridization, and the giants want to run the horse first, first circle the land and then run the horse.
Look closely, but all the Chinese car companies with high sales are now holding a lot of technical cards in their hands, and they are playing faster and faster, forcing Toyota, Volkswagen, and Honda to accelerate together. For example, Geely, which has won the Chinese sales championship for many years, has been listed for a few days after filling a tank of oil and can run 1100 kilometers of Xingyue L hybrid, and the Emgrand L hybrid with a range of 1300 kilometers has begun to release road test news, and it is almost synchronous, and the PEV information of Thor hybrid Hi X has also begun to be released.
To put it simply, in recent years, Geely has been overwhelmed by new technologies in front of consumers. First of all, the CMA architecture with modular capability than the newer MQB EVO directly supported more than 150,000 markets, and then the BMA architecture developed in collaboration with Volvo opened the market of 80,000-150,000 with modularity, and the 2.0TD engine + four-wheel drive of Lynk & Co 03+, and then Lynk & Co 09, which directly used the Volvo SPA architecture.
Therefore, after one technical iteration after another, what exactly can Geely Group bring to the automotive industry and consumers, and what results will be achieved by its technology drive, is obviously a fun topic.
The auspiciousness of new technologies,
In fact, it is as difficult to steer as the Volkswagen Toyota?
A simple classification of the new technologies that Geely Automobile is rapidly launching at the moment is actually what is said in the subtitle, which is a bit of a trend of traditional car companies and ships. Like the vast majority of car companies that perform well in the fuel era, it must consider the smooth transition of more than 1 million sales per year and new energy vehicles for fuel vehicles, so that the core base plate can contribute sales figures, profits, and revenues, and support market value, stock prices, and consumer confidence.
Classification Geely's current new technology launch, there are 4 conclusions, 1. The power center of gravity is more in oil-electric hybrid, PHEV and pure electricity related heavyweight technology is less, 2. Intelligent center of gravity is more interactive in the cockpit, non-intelligent driving, 3. Pure electric technology relies more on relatively independent krypton to seek to break the ice, 4. The center of gravity of intelligent driving also relies on extreme krypton to seek to break the ice.
The 4 conclusions are taken apart separately, and each one also hides other veins.
1. The technical center of gravity of the power is in the oil-electric hybrid, from the front of the hi · X Thor Hybrid launch is easy to see. The 3-speed DHT solution, compared to the logic of Honda's third-generation i-MMD, has been further enhanced in many aspects, resulting in a better driving experience. For example, 20km/h speed can complete the parallel connection of motor + internal combustion engine, more efficient ability output, achieve fuel saving effect, and support ejection start mode, better acceleration fun, etc. At present, compared with the entire industry, the torque ratio, compactness, and reasonableness of the working mode are all good.
Equivalent to, in the mainstream trend oil-electric hybrid technology, it is better than Honda's optimization in some details than Honda, and the actual experience effect is not too different. In addition, the power technology also lies in the 2.0TD engine jointly developed with Volvo, which surpasses the Volkswagen 2.0T EA888 in terms of power parameters, and the actual driving effect is also reflected in the Lynk & Co 03+. However, the topic of improving potential and modification potential is obviously not as fierce as Volkswagen's cast iron machine, and it has not yet seen a private high-horsepower solution. In short, Geely has embedded in the field of new energy, but for a long time, it has not released particularly eye-catching PHEV and BEV-related technologies, which need time to verify.
2. The intelligent part, the current visible technical achievements of Geely Group, more on the cockpit end. Under the R&D system of ECARX Billion Cafe + R&D Center + their respective brands, there is now an iteration of the GKUI intelligent cockpit system, a collaboration with Volvo, Mercedes-Benz, etc., going deep into Europe to develop a global standard vehicle specification level operating system, and then there is a joint venture company established with Arm to carry out the research and development of vehicle specification cockpit chips.
3. The focus of vehicle technology research and development is more on the traditional power + oil-electric hybrid, which does not mean that Geely does not have new energy reserves in its hands. At present, the ePro plug-in hybrid technology previously launched by Geely New Energy has once been able to rank at the forefront of the PHEV list, but with the efforts of more and more car companies, the iteration speed of its products and technologies has slowed down relatively.
In addition, in the field of pure electric vehicles, Geely's current new energy pace is not fast, and the Extreme Kr brand is a more flexible solution to accelerate innovation to break the original fixed-line system, and the main technical features it currently contains are 400V electronic and electrical architecture. Compared with Geely's internal system, its technological progress is faster, but it still needs internal acceleration compared to the new forces.
4. In the field of intelligent driving, in fact, Geely's current bright performance is not much, but the future growth possibility is good. For example, in terms of intelligent driving, the slogan L2.5+ has been widely used by the industry in 2019. Tesla's AP, FSD and other functions have achieved a first-mover advantage because they can plan the navigation path in advance and complete the navigation pilot intelligent driving. After that, the NOH of WEIO NOP, Xiaopeng NGP, and WEY were released in 2020-2021, and obtained corresponding user recognition. In particular, Xiaopeng NGP has iterated to lidar + city assistance, and the next Weilai NAD is the ability to point to point automatic driving, as well as the entry of Baidu Apollo and Huawei car BU, in short, the relevant market window period left for Geely automatic driving is not large. The opportunity lies in its self-research and the extension of the circle of friends, such as Intel's investment in extreme krypton, which is bent on finding face in the automatic driving car specification chip, which is very telling.
The buy-buy logic behind technology can last for how long
From the performance of the technical side, and then look at Geely Holdings in the automotive industry, the results of the Chinese brand sales champion + million sales for many years are well explained. In the traditional field, relying on the innovation of the three aspects of the underlying architecture, engine and gearbox, it has greatly improved the overall product strength of the vehicle's driving, space, luxury, and configuration.
The logic behind it is actually to buy, buy, buy. In many acquisitions, mergers and reorganizations, it has completed its own "first pot of gold" capital accumulation.
In 2006, Geely Automobile acquired a 19.97% stake in British manganese copper (a landmark taxi manufacturer in London) to establish a company in China, and in 2013, Geely acquired the business and core assets of British manganese copper holdings.
In 2009, Geely Automobile acquired DSI Automatic Transmission Company in Australia.
In 2010, Geely Holding Group acquired a wholly stake in Volvo Cars, a subsidiary of Ford Motor Company, for US$1.3 billion in cash and US$200 million in bank notes.
In 2017, Geely Holding Group acquired a 49.9% stake in Proton Motors, a subsidiary of DRB-HICOM Malaysia, and a 51% stake in luxury sports car brand Lotus, and became the exclusive foreign strategic partner of PROTON Motors.
In 2017, Geely Holding Group announced a definitive agreement with Terrafugia Flying Automobiles to acquire all of Terrafugia's businesses and assets.
In 2017, Geely Holding Group spent about $3.3 billion to acquire an 8.2% stake in AB Volvo, becoming its largest shareholder and owning 15.6% of the voting rights of Volvo Group.
In addition, he became the major shareholder of Daimler Group, enjoyed the right to dividends, and further operated after the trend, completing the cooperation between Geely and the Smart brand.
Through a series of actions, you can see very clearly what the context of Geely's success is. It is to operate capital + assets, and then through the Geely technical team to complete the absorption of technology and upgrade again, there is no doubt that many of these cases belong to the textbook classic cases that have occurred in the history of automobiles in the past 130 years.
Hyundai-Kia's 30-year rise miracle was upgraded by absorbing and restructuring Mitsubishi Motors' core technology;
BMW's acquisition of MINI and Rover-related businesses has completed the absorption of off-road/SUV and other technologies;
The Renault-Nissan alliance, too, has completed technological complementarity and technological upgrading through mergers and acquisitions;
In essence, the world's major auto companies are good at business mergers, absorption, and restructuring, and they have sufficient cash flow and business base, and they are also in their own development, constantly purchasing external technology assistance, start-ups, etc., to form a synergy for their future development.
On the topic of buying, buying and buying, the two points that are not the same are that the current era of switching changes too quickly, and most of the traditional car companies have entered the fields that they have not been deeply exposed to before, including three electricity, intelligence, communications, chips, software, algorithms, electronic and electrical architecture, etc.; on the other hand, the development routes and inertial thinking of various enterprises are different, and the ways of reuse and integration after absorption are different. Relatively speaking, Geely Automobile's current performance in the merger action of important nodes is good and the conversion ability is strong. Also in view of its transformation capabilities, coupled with its current enterprise, brand health, etc., it can look forward to the development of its multi-brand in electrification and intelligence, but the difficulty and challenges are also great, such as Intel's output, how many resources can be, and for example, Arm and Yijiatong's chips can provide high-quality hardware, how to match the software, and narrow/generalized OS related breakthroughs.
Write at the end:
In today's automotive industry, the core law has become "taking the lead in seizing resources". The traditional horse racing enclosure is not so applicable, but it is changed to first encircle the land and then run the horse. Including the scramble of new forces in the capital market to give future development space; including the traditional car companies that have begun to transform intelligent new energy vehicles, the related scramble for lithium resources, nickel resources, and battery production capacity to lay the foundation for future development; and the series of chips and upstream and downstream raw materials.
Buy, buy, buy, there is no problem, the question is what to buy, what to buy to do. How to break the next step of the entire automobile industry, how to arrange the order, not only to see their own self-research and absorption capacity, but also to see the core is the accuracy and utilization of their own purchases.
As for Geely, there are many variables and hopes, and everything is waiting for time to verify. Current Hi · X hybrid, not enough, need more.