As the bell rang on May 15, NIO's long-prepared second brand, Ledao, officially unveiled its mystery and entered the Chinese electric vehicle market with a new attitude. The brand launch not only marked the birth of Ledao Automobile, but also brought its first model, the Ledao L60, and announced a competitive pre-sale price (starting at 219,900 yuan). In the context of the fierce competition in the current electric vehicle market, the appearance of Ledao Auto has undoubtedly injected new vitality into NIO.
Li Bin, founder, chairman and CEO of NIO, reviewed the development process of NIO in the past ten years at the Ledao brand launch conference, and revealed that as early as the company's initial stage, NIO had the idea of building a second brand. The original intention of this concept is to help NIO go further on the road of carbon reduction through more brands and models. Starting in 2021, NIO has officially put the second brand plan into practice.
In the automotive industry, multi-brand development has become a trend. From Toyota's Lexus to Volkswagen's Porsche and Audi, to Chinese car companies such as Great Wall, Geely, Changan, Chery, etc., they have embarked on the road of multi-brand development. As a young new car manufacturer, the implementation of NIO's multi-brand strategy has undoubtedly brought new thinking to the industry.
The arrival of Ledao not only brings new growth points to NIO, but also indicates that the Chinese auto market will usher in the emergence of more new brands. At the same time, Xpeng Motors is also actively preparing for a second brand MONA to cooperate with Didi, and NIO is planning a third brand after Ledao. The emergence of these new brands will further enrich the electric vehicle market and provide consumers with more choices.
NIO's original intention of building the second and third brands is the same as that of other car companies, which is to cover more market segments through more brands, achieve large-scale development, and improve performance. NIO's main brand has always been oriented to the high-end market, with a price of more than 300,000 yuan, leaving a broad space for development for new brands such as Ledao. By entering the lower priced 200,000 yuan market, NIO aims to seek more sales, share investment costs, and increase profits. At the same time, completing the market exploration in the form of a new brand will also help protect the high-end image of the NIO brand.
At the Ledao brand press conference, Ai Tiecheng, senior vice president of NIO and president of Ledao Automobile, introduced Ledao's first model, L60, in detail. He emphasized that NIO will provide Ledao with a full range of empowerment, including charging and swapping systems, manufacturing and supply chain systems, and high-end brand operation experience. The sharing of these resources will help Ledao stand out from the market competition.
Ledao Auto regards range and energy replenishment as an important value of its car manufacturing. Ledao users can share NIO's more than 1,000 battery swap stations at the early stage of delivery, which will help Ledao differentiate itself from other brands. As a mid-size electric SUV, the Ledao L60 will compete fiercely with competing products such as Tesla Model Y, Xpeng G6, and BYD Song after its launch. Ledao hopes to occupy a place in the family car field with its advantages in range and energy replenishment, as well as the strong support of the NIO brand.
At the Ledao brand media communication conference, Li Bin revealed the future plan of Ledao Automobile. Ledao plans to launch more models to meet the needs of different consumers, including medium and large SUVs, sedans, etc. At the same time, Ledao also plans to build 100 directly operated stores within the year, and when the Ledao L60 is launched in September, consumers will be able to experience the real car in physical stores.
Up to now, NIO has not yet achieved profitability, April sales data show that NIO sold a total of 15,620 new cars, a year-on-year increase month-on-month, but this result is lower than the question and ideal, the above brands have achieved profitability, pressure to Weilai, Ledao's listing, will help boost NIO sales, and promote the company to achieve profitability as soon as possible.
With the official debut of Ledao Automobile, China's electric vehicle market will usher in a new competitive landscape. We look forward to Ledao being able to stand out in the fierce market competition and bring different travel experiences to consumers.
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