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In recent years, China's automotive industry has ushered in a new wave of car manufacturing boom, and mobile phone manufacturers have crossed over to build cars. Among them, the most successful is Xiaomi. In March 2021, Xiaomi officially announced the creation of a car, and after a lapse of 3 years, Xiaomi successfully built a car, and on March 28, 2024, the car SU7 was officially launched, with a price range of 215,900-299,900 yuan. According to official news, Xiaomi Auto SU7 broke 10,000 in 4 minutes, 20,000 in 7 minutes, and 50,000 in 27 minutes. On May 9th, the well-known car blogger @Sun Shaojun 09 broke the news that the number of Xiaomi SU7 lock orders has officially exceeded 100,000.
On May 15, Xiaomi Auto's official Weibo posted: Just now, we have completed the delivery of the 10,000th Xiaomi SU7. On the 43rd day from April 3rd, we crossed another small milestone. "Listing is delivery, delivery is volume", thank you, we did it! We are also continuing to work hard to increase production capacity and ensure that we can achieve our target of 100,000 units this year.
Following the success of Xiaomi's car building, Meizu also came with news of car building. On May 13, according to the website of Meizu Unbounded Zhixing, Meizu's first model may be suspected to be named "Meizu MX". As can be seen from the website, the model will be equipped with the Flyme Auto full-case intelligent vehicle machine system.
According to the official introduction, Meizu Unbounded Zhixing solution includes three forms: Flyme Auto, Service and Link, of which the whole case is the form with the deepest customization, and Meizu will work with the vehicle brand to define the product and provide a full set of solutions from product definition to delivery. At present, the Lynk & Co 07 EM-P and 08 EM-P both adopt the Flyme Auto full case design.
Judging from the information of all parties known, Meizu MX is expected to be a pure electric car that falls on 20-300,000 yuan, focusing on intelligence and technology, it is reported that Meizu Automobile cooperates with Geely, Geely will hold a controlling stake in Meizu Technology, and provide vehicle design and marketing planning. Meizu's move is undoubtedly to "compete" with Xiaomi Automobile.
With the government's support for new energy vehicles and the increasing consumer demand for environmentally friendly vehicles, the market competition has become fierce. Meizu's entry into the car-making team as a well-known electronic technology company will pose a certain amount of competitive pressure on traditional automakers and other new car-making forces. In the long run, this will also promote the development and innovation of the entire new energy vehicle market, bringing more choices and better products to consumers.
-- The competitive landscape of new energy vehicle enterprises
In 2022, BYD will have the largest market share in the new energy vehicle industry in mainland China, with a market share of 31.7%, far exceeding other brands. SAIC-GM-Wuling and Tesla both have a 7.8% share in China. In terms of new EV manufacturers, the combined market share of NIO, Xpeng, and Li reached 6.9%, which is still a low share.
-- The regional competition pattern of the new energy vehicle industry
Judging from the sales of new energy vehicles in various provinces and cities, in 2022, Guangdong Province will have the largest sales of new energy vehicles, reaching 753,000 units, followed by Zhejiang, with sales of 621,400 units. Jiangsu Province ranked third with 482,200 units. Overall, the sales of new energy vehicles in the eastern part of the mainland are in the top, and the sales in the northwest are relatively cold, and the penetration rate of new energy vehicles in these regions still has a lot of room for improvement.
-- Sales volume of new energy vehicle enterprises
In terms of sales, from January to October 2023, BYD, the brand with the largest sales volume of new energy vehicles in mainland China is BYD, leading the industry with 2.3714 million units. the second is GAC Aion, with sales of 392,500 units; In third place was Geely Automobile, with sales of 362,000 units. Among the three major new automakers, Ideal ranked fourth with sales of 284,600 units, Xpeng ranked tenth with sales of 101,400 units, and NIO ranked seventh with sales of 126,100 units. Overall, from January to October 2023, the sales of new energy vehicles of traditional car companies are generally better than those of new car manufacturers.
According to the analysis of the Prospective Industry Research Institute, with the continuous development of the new energy vehicle industry, in the future, industry integration will continue to advance, large enterprises through acquisitions, mergers and other ways to integrate industrial chain resources, small and medium-sized enterprises through mergers, cooperation and other ways to consolidate their competitive position. At the same time, in the context of technological innovation, the use of Internet of Vehicles, cloud computing, artificial intelligence and other technologies to enhance the comprehensive competitiveness of new energy vehicles will be one of the development trends of the industry. In addition, the enterprise side will also bring consumers a better consumption experience by continuously improving their service capabilities. Under the wave of internationalization, the new energy vehicle industry will also accelerate the process of going overseas, and the international market is very attractive to the domestic new energy vehicle industry.
Orient Securities pointed out that with the official introduction of the detailed rules for the subsidy for car trade-in, it is expected that the demand for car purchases in the early stage will be gradually released, the follow-up passenger car market demand is expected to gradually pick up, and the demand for low-end passenger cars is expected to take the lead in recovery. Orient Securities further said that under the fierce price competition, the leading new energy vehicle companies are expected to continue to expand their market share by virtue of their leading advantages in new energy technology and industrial chain.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Analysis Report on Market Prospect and Investment Strategic Planning of China's New Energy Vehicle Industry" by Qianzhan Industry Research Institute.
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