Li Xiang admits his mistake: MEGA drags down the ideal market | Deep Web

Source:

Visual China

Author丨Cheng Xiaoyi Editor丨Kang Xiao

Produced by丨Deep Web Tencent News Xiaoman Studio

In just 10 days, Li Xiang, the founder of Li Auto, has a completely different view on the MEGA public opinion turmoil. Li Xiang, who had already decided to "use light to counter darkness", suddenly took the initiative to admit his mistake.

On March 21, Li Xiang issued an all-staff letter titled "How to solve the current problems faced by Li Auto", reviewing the essential causes and solutions of the MEGA turmoil.

Li Xiang analyzed that there are two essential problems with MEGA.

First, the rhythm is wrong, and the ideal MEGA is operated from the 0 to 1 stage (commercial verification period) as the 1 to 10 stage (high-speed development period).

The implication is that Li Auto has completed 0 to 1 in terms of range extender, but MEGA is Li Auto's first pure electric model, and it still needs to go through a similar 0 to 1 process.

In addition, the chaos of the rhythm of MEGA has also affected the sales rhythm of the popular series of L models, "the main model Ideal L8 does not even have a store position".

Shortly after the release of the all-staff letter, Li Auto announced on the Hong Kong Stock Exchange that it now expects its vehicle deliveries in the first quarter of 2024 to be 76,000 to 78,000 units, compared with the previous delivery expectation of 100,000 to 103,000 units, due to sales orders falling short of expectations. In addition, since the beginning of this year, Wenjie has surpassed Li Auto for two consecutive months to become the sales champion of the new force.

Problem 2: Putting the cart before the horse, focusing too much on sales and competition, resulting in a "significant decline in user value and operational efficiency".

In an internal letter, Li Xiang said that the March 2024 question is an enhanced version of the ideal 2022 question. The next step for Li Auto is to "seek truth from facts and change when you know your mistakes".

Since the release of Li Auto's first pure electric MEGA on March 1, Li Auto's stock price has fallen almost continuously. The stock price fell from $43.54 per share on March 1 to $34.08 per share on March 30, and the market value evaporated by more than $10 billion. In addition, affected by the news that sales were less than expected, Li Auto's U.S. stocks dived before the market, and as of press time, fell nearly 7%.

The MEGA car at the Li Auto showroom

Model.

Source:

Visual China

According to the observation of "Deep Web", the attitude of public opinion towards Li Xiang's admitting mistakes is highly recognized. There are also many people who think that the main problem with MEGA is the pricing, "If it is 100,000 cheaper, it will be sold immediately." ”    

In recent years, Li Auto and Li Xiang's first response to emergencies has often had a negative effect.

For example, when the public questioned the use of steel in the ideal L9 air suspension and did not use aluminum alloy materials that are more in line with the price, Li Xiang's retort was, "It is strongly recommended that those netizens who cognitively think that aluminum must be better than steel and iron should demolish the main steel structure of their houses and replace them with aluminum." ”

Although Li Xiang's answer is not unreasonable, whether it is aluminum alloy, steel or carbon fiber, etc., the materials have their own strengths and are not absolutely superior, but Li Xiang abbreviated aluminum alloy as aluminum in his rhetoric, and compared the way of automotive materials and housing materials together, even caused netizens to question, "The CEO of the so-called new car-making force has a perception of automotive metal materials?"

Another example is the suspension. In July 2022, after the CCTV broke out that the suspension of the Ideal L9 test drive was suspected to have broken after sudden braking, the official explanation of the ideal car was, "The test drive in Chongqing was 90 km/h and rushed through a pit with a depth of 20 cm, resulting in the damage of the buffer ring inside the air spring." "In addition, the prototype version is not the same as the production version, and the actual production version has 2.5 times the strength of the buffer ring as the prototype version.

This response made Hu Zhengnan, the former president of the Geely Research Institute, reply with his real name: Would normal people travel at high speed against a 20-centimeter pit? "Why do you make prototypes with different performance?", and questioned the development process and quality management of Li Auto.

This year, Li Xiang reflected on the ridicule of 2023 on Weibo, and was criticized by countless netizens for making fun of his own accident and disrespecting the parties.

Li Auto is now the successor

tesla

The third new energy vehicle company after BYD to achieve full-year profitability, last year's annual sales ranked first among new domestic forces. As one of the industry leaders, Li Auto may consider increasing the temperature of the enterprise while insisting on rational decision-making and extreme efficiency.

The following is the full text of Li Xiang's internal letter:   

Xiaoman Studio | Produced by Tencent News

Issue 1150

Operational typesetting: Beans

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