If you are a silk, I want to buy it, it is best to make my high side.

“How much is the boiler of the BBA, how much is the electric car, and we are to provide experience to high-end users.”

“Adhere to users with the best experience without shaking, in terms of investment in products, technology, and user service.”

In many different occasions, Li Bin, chairman of the car, repeatedly emphasized this point of view.

On March 2, it was awarded the fourth quarter of 2020 and the year without audit financial report. At the subsequent call, he reiterated that it is a high-end oil car brand, which is a high-end, competitor is 30-4 million yuan, and will not enter the mass market in the recent market.

In 2020, it was a very bright answer to investors: the total year-on-year increase of 107% year-on-year; hair profit and gross profit margin were turned forward; sales increased by more than 1 time year-on-year. However, it is 53 billion yuan in the same year, although it narrows 53.0% year-on-year, but still faces great funding challenges.

Even so, Li Bin still said that the R & D investment plan of 2021 was doubled from 2.487 billion yuan in 2020 to 5 billion yuan; the layout of the next store and the bootstrap station will continue to expand, and to increase the “Inner Mongolia, Heilongjiang No one is willing to build infrastructure area.

Everything investments are stressed – high-end markets.

It is a high-cost service model that is a high-cost service model. This determines the gradual popular route of Tesla, and even the ideal car. I don’t want to be, it is not.

Of course, continue in the high-end market, the days can also be very good. Just, we are still unimaginable, and it will be in any form to achieve self-hematopoietic and profitable.


Financial report:

Sales increase, gross profit, loss, burning money

Compared with 2019, it has a significant improvement in 2020 operations and financial conditions.

○ Sales: In the year of 2020, it increased by 1 time, 2021 Q1 is expected to exceed 20,000 units.

At present, there are 3 electric vehicles sold in the sale: 蔚 来 ES8, 蔚 来 ES6 and Wei Si EC6.2020 to come to the fourth season, the total sales of these three electric vehicles continue to improve, 43,728 , Increased by 112.63% year-on-year

Source of information: Jidun official micro

January 2021 and February, Jidai Electric vehicles delivered 7,225 and 5,578, Li Bin said in the financial conference, expects 20,000 to 20,500 units in the first quarter of 2021, an increase of approximately 15% to 18%.

○ Hair profit and gross profit margin: double turn

Selling a loss, is a general dilemma of a lot of new car companies, it is also a. In 2020, it was finally realized with both hair profits and gross profit margins.

Source of information: Precai Province

In 2020, the general camp is about 16.258 billion yuan, an increase of 107% year-on-year. Among them, the car sales revenue was 15.183 billion yuan, an increase of 106% year-on-year.

In terms of Maori, 2019 is a loss of 1199 billion yuan, 2020 hair profit increased to 1.873 billion yuan; 2020 western margin is 11.5%, 2019 is -15.3%. In 2020, it was a net loss of 5.304 billion yuan, which was significantly reduced from 11.296 billion yuan in the same period last year.

In addition, as of the end of 2020, it is a total of 42.5 billion yuan in cash and cash equivalents.

○ R & D, sales and administrative cost reduction

Compared with 2019, there is also a big reduction in the expenditures of R & D, sales, administrative and general costs.

The financial report showed that in 2020, the R & D expenditure of the awareness was 2.488 billion yuan, the same period last year was 4.429 billion yuan. The sales, administrative and general expenditure of 2020 were 3932 billion yuan, and the same period last year was 5.452 billion yuan.

However, Li Bin said at the financial conference of the Financial Report, and Li Bin has doubled 2021 R & D plans to 5 billion yuan. In this way, the net loss is still as high as 5.3 billion yuan, the future fund pressure is still not small.

Even so, it is still sticking to the positioning of high-end electric vehicles.


Stick to the high side: two “no shake”

“The owner of the company has always been committed to the establishment and growth of our co-establishment and growth, our excellent performance in 2020, also pays strongly supported by these faithful users.” Li Bin was evaluated in the end of the espayment.

It is also emphasized in the earning report, and it will continue to continue technology innovation, strengthen financial performance, and insist on providing users with the best experience. Investment in products, core technology, and user service.

From the beginning of the creation, whether it is a model price, store construction, charge the electrical layout, or user service, it is a high-stricken road.

On the one hand, this route allowed to get a good review in the owner, breaking the absolute monopoly of the joint venture brand in China’s high-end auto market, and on the other hand, it also allows us to face sustained cash flow challenges. Even half a year in 2019, it has to make a large layoff over thousands to save money and open source.

In 2020, R & D, sales, administrative and general costs were reduced, and it was also one of the main causes of great narrowing.

It is a way to be “Chinese Tesla”, which is reversed to Tesla, and from the initial “toys of rich people” to the large-scale chemical model of nearly 500,000 vehicles this year, walking through the upper The product route, realizes the turn loss. Therefore, many people will ask, still in the hot money, will imitate Tesla, is it in the mid-market? Li Bin has made many times and will not.

At the January 2021, the Used Car Business Conference, Li Bin said that Different from Tesla is a popular model such as Ford, it will stick to high-end car positioning, how much is the BMW Mercedes-Benz Audi’s oil truck, 蔚The electric car sells the same price, and the service, performance and intelligent level are higher, which is an overall strategy of it.

At the financial conference call, he reiterated that “will not enter the mass market in the near future, from the possibility of it is definitely, long-term is from a more active way to the public market.”

From the market reaction, even if you want to go down, it may be difficult to copy the explosive record of Tesra Model 3.

Since 2019, after the listing of ES6, the sales of high-end prices have risen all the way, and the first model is the first model – the most expensive price of ES8. But 尴尬, although this car is better than its own brothers, but there is no MODEL 3 let Tesla hot sale, helping the food, the sold sales, and even help the awareness of the loss.

Source: number of people

It is not obvious with the price exchange. At the moment, in front of huge funds, it can only continue to pursue single-product gross profit.


Take money, go to the high side

In a car analyst, if you choose to enter the mid-range market, it is a big probability event. And it is no choice to go down, but continue to increase investment, from high-end to higher end.

○ Model: The second generation of pure power platform is consumed huge

In terms of models, January 2021, it was aware of the first pure electric sedan, regardless of whether the battery is still intelligent, and it is better than ES8, ES6 and EC6. Of course, it is not cheap. The price is 448,000 yuan before the subsidy. The first version of the subsidy is 5.26,000 yuan, and the price of ES8 is quite.

蔚 来 ET7

In the propoy financial report, Li Bin focused on ET7, which is very high for this car. If you can pay online on time, the ET7 is also expected to represent the highest level of China’s smart electric cars, but the cost of paying this is to spend money.

蔚 来 ET7 is based on the newly developed pure electric platform, and Li Bin said is 5 billion R & D expenses, the proportion of the platform will not be small.

○ Charging power station: Tilt in Inner Mongolia, Heilongjiang, Xinjiang

At the end of 2020, it has been built 127 overcharts and more than 1700 piles of charging piles.

At the financial conference, Li Bin introduced that in 2021, it will begin to deploy the Second Demoning power station, and the total power supply station has exceeded 500. By 2021, it was planned to have a total of 600 supercharts and 15,000 destination charging piles.

Compared with the current first generation shift station, the second-generation power-saving power, efficiency and convenience have improved. In terms of cost, the second generation shift station, through the wireless communication between the car – station – cloud, remote scheduling, monitoring, maintenance, can achieve unmanned value.

In December 2020, it announced that the first Sichuan fast charge route is the country.

It is worth mentioning that Li Bin said, Li Bin said that Jimei will tilt to the remote place, “If there is anyone in Inner Mongolia, Heilongjiang, Xinjiang, etc., we will build infrastructure, we will target these regions this year. Increase investment, we think that electric vehicles in all places should have a good experience. “

○ Store layout: There is a place in BBA.

It is necessary to compete with the BBA oil car, not only the price gobia, but also the sales layout should also be the target.

At the end of 2020, there were 31 international authorized service centers in China, in 2021, it will continue to improve the service system.

At the financial conference, Li Bin said that in 2021, it plans to build a new 20 Jewa Center and 120 aware space, and the total number of stores reached 366. “The basic strategy of it is that as long as there is a BBA city, we will definitely go to the next store, and you can achieve coverage this year.” He said.

○ User is king

Almost perfect user services are one of the cores of the high-end route.

It is a great care experience from the greatness of the Akilant. For example, a senior flight owner, there is an exclusive service group, in addition to his and his wife, the remaining 7 people are all the employees, and any problems will be replied within 2 minutes.

The president of the Premium, Qin Lihong, said that the evaluation of the customer service is not to see how much incremental users he can bring, but see how the original user feedback. And this non-fly-like user service, behind the huge human cost expenditure.

In addition to more services to users, Li Bin said in remote areas, including the Qinghai-Tibet line to build a charging station, covering the BBA sales range, self-proclaimed “not for making money, is for existing users full life cycle interests” The second-hand car business is calculated that it is not counting, at least the short-term cost investment.

There is only one core of the core – enhance the user experience and maintain high-end guest groups. For example, Li Bin said, “Tesla often engages a news, harvesting a batch of orders. It will not use this pulse mode (to obtain orders), we will gradually improve through service network, experience improvement and user reputation Sales, so we have no price reduction, and it can also bring gross profit margin. “

Big investment, heavy customer, high-end, no price reduction … 蔚 from start to the end of the high-end electric brand route. 2020 financial report proved that it is valuable, regardless of sales or prices, it has exceeded traditional luxury brands such as BBA.

However, money, still lack; high-end, or continue.

Although Li Bin once said that “the company (not a NIO brand) can enter the public market, he has also been confident that” the Volkswagen has no threshold for us, everyone is done, is it cheap, can you still do? ? “But for Wei, since ES6 and EC6 can’t copy MODEL 3’s record, stick to the high-end, I am afraid it can only be the only way.

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