On May 10, we learned from official channels that Ideal Auto released its first quarter financial report, achieved revenue of 9.56 billion yuan in the first quarter, revenue increased by 167.5% year-on-year, delivered 31716 Ideal ONE, as of the end of the first quarter, the company's cash reserves reached 51.19 billion yuan, and the Ideal L9 will be delivered in the third quarter.
Ideal Cars plans to deliver its second model in the third quarter, the Ideal L9, a smart flagship SUV built for home users. For future operation and development, Ideal Auto will continue to increase investment in research and development, expand sales and service network, and serve more home users.
Ideal Cars delivered 31,716 Ideal ONE units in the first quarter, up 152.1% year-over-year. Ideal ONE topped the sales list for medium and large SUVs for 11 consecutive months. Deliveries of the Ideal L9 will begin in the third quarter and will be built on the 1,000 new generation of extended range platforms, providing the best performance, safety and intelligence in its class.
Ideal Automobile invested 1.37 billion yuan in research and development in the first quarter, an increase of 167.0% year-on-year. R&D investment has reached a new high, and the ideal car will continue to promote the technological advancement of extended range electric, high-voltage pure electric, intelligent cockpit and intelligent driving.
Ideal Auto had 217 retail centers at the end of the first quarter, an increase of 233.9% year-on-year, covering 102 cities. The number of retail centers will continue to increase to serve more urban home users.
Ideal Automobile's operating cash flow in the first quarter was 1.83 billion yuan, an increase of 98.0% year-on-year, while the company achieved positive operating cash flow for the eighth consecutive quarter.
As of the end of the first quarter, ideal auto cash reserves reached 51.19 billion yuan, providing a strong guarantee for continuously increasing R&D investment and expanding sales and service networks.
Ideal Expects vehicle deliveries of 21,000 to 24,000 units in the second quarter of 2022, up 19.5% to 36.6% year-on-year, due to the impact of the pandemic on the supply chain. Revenue totaled RMB6.16 billion to RMB7.04 billion, up 22.3% to 39.8% year-on-year.
According to the data displayed in the "New Energy List" of the EasyCar App, Ideal Car ranked 12th. For more data, please check it out on the EasyCar App.