Nio's funding woes reflect challenges faced by Chinese EV startups
At a time when many people thought that Nio had run out of life, a "knight in white" gave a helping hand when Nio was most difficult.
Recently, Hefei City announced that it will inject more than 10 billion yuan in strategic investment in Nio. Nio China headquarters is established in Hefei. Behind the expansion of Chinese EV startups is the expected competition from outsiders Tesla to further China-made.
In particular, the price reduction of Model 3 also means that Tesla will face head-to-head with EV startups in the Chinese market.
People who buy Tesla prefer new things and prefer new technology. Tesla's brand image and Musk's personal charm can attract these people.
People who buy Nio are more traditional. Nio's luxurious comfort and first-class after-sales service are bonus points.
"As long as Nio can get through the financing barrier, there is hope, after all, new energy vehicles are a good track," the Investment Express quoted a private equity person engaged in new energy vehicle investment as saying.
At the time when many people thought that Nio had run out of life, it was not Li Shufu, but Li Bin's hometown -- Anhui, who helped Nio when it was most difficult.
This week, in 2020, Hefei City signed a contract for major industrial projects and the launch of the JAC NioEC6 mass production project was held at the JAC Nio plant in Hefei. Hefei will invest more than 10 billion yuan in strategic investment in Nio and establish Nio China headquarters in Hefei.
In this cooperation, the two sides also set three goals: Nio is expected to reach 14.8 billion in 2020 revenue, plans to market 6 to 8 models in 2024, revenue will reach 120 billion; Nio settled in Hefei, will build in 5 years A leading enterprise with a production value of RMB 100 billion; Landed on the Science and Technology Innovation Board by 2025.
In addition, Nio will put into production the third mass production model at the JAC Nio plant, the NioEC6. The car is positioned as an electric smart coupe SUV, equipped with a 100kWh battery pack, and can achieve 615 kilometers of NEDC cruising range. Y.
In battery applications, Nio uses a very rare power replacement design. Although power replacement is not necessarily convenient, it brings another benefit: upgradeability.
Battery technology is improving every year, and its energy density is constantly increasing. Battery packs of the same volume and weight can have higher capacity.
In 2019, Nio's battery pack capacity will be increased from 70kWh to 84kWh and will continue to increase to 100kWh this year. The larger battery and smaller wind resistance allow the endurance of the EC6 to reach 615km.
Behind the expansion of Chinese EV startups is the expected competition from outsiders Tesla to further China-made.
In the first half of last year, Tesla announced the price of China-made Model 3, with the lowest price starting at 328,000 yuan.
This price also means that Tesla will face head-to-head with EV startups in the Chinese market.
Some analysts believe that the arrival of Tesla Model 3 in China is good for the entire industry because the proportion of new energy vehicles in the entire passenger car market is still relatively low.
According to statistics from the China Automobile Association, China sold more than 25 million new vehicles last year, and only 1.2 million new energy vehicles. In fact, ordinary people do not know about new energy.
After Tesla comes, users' attention on new energy vehicles will increase.
So how does China-made Model 3 achieve downsizing?
If you look at the book data from the maximum power, peak torque, acceleration time, and operating conditions, the China-made version of Model 3 does not seem to be shrinking or simple.
However, if you look deeper, you will find that the basic version of the auxiliary driving function that was originally standard on the imported version, and the China-made version has become an optional configuration. The optional price is 27,800. It is 56,000.
To some extent, this is also evidence of China-made Model 3 downsizing.
There are three models of Tesla Model Y: long-life rear-drive version, long-life full-drive version, and Performance high-performance version.
However, due to the streamlined product line, the rear-drive versions of Model 3 and Model Y no longer exist.
The performance of the long-drive all-wheel-drive version is very balanced, with a 505km endurance and a 0-60 miles acceleration time of 5.1s.
The Performance version sacrificed a little battery life, bringing a 0-60 miles acceleration time of 3.7s.
Although Model Y and NioEC6 have similar size, performance, and price, they are actually two different cars, and the target user group is actually very different.
People who buy Tesla prefer new things and prefer new technology. Tesla's brand image and Musk's personal charm can attract these people.
People who buy Nio are more traditional. Nio's luxurious comfort and first-class after-sales service are bonus points.
Another EV startup, Xpeng Automobile, also holds the C position in the new energy vehicle market.
Taking the new model P7 as an example, according to relevant data disclosed by Xpeng, the NEDC range of the P7 may exceed 650km, which may be the China-made electric vehicle with the longest range.
In this way, the pre-sale price of 240,000 to 370,000 seems to be worth the money.
From the perspective of the core component battery, the battery of the Xpeng P7 is manufactured by two suppliers. EVE Energy produces the 70.78kwh version and the 80.87kwh version is from Contemporary Amperex Technology (CATL), China's largest automotive lithium-ion battery maker.
Xpeng's earlier production model, the G3, positioned young people's first smart cars.
In December 2018, the G3 was officially launched in Guangzhou. The new car is positioned as an Internet gene pure electric SUV. After the comprehensive subsidy, the unified national retail price is divided into 135,800 yuan, 148,800 yuan, and 165,800 yuan according to the specifications.
According to information previously learned from the official Xpeng car, in 2019, the cumulative sales of the Xpeng G3 reached 16,608 units. As of December 31, 2019, Xpeng P7's cumulative order volume also exceeded 15,000.
However, after the model's price reduction, Xpeng, especially the P7 models, will directly face the positive threat of Tesla China-made.
Tesla's brand added value is believed to be unnecessary, and also in the same batch of MIIT catalogs, Tesla suspected that the long-life version of the Model 3 has also been China-made.
In addition, after the price reduction of Model 3, it can be described as head-on confrontation with EV startups such as Xpeng. The upgraded version of Model 3 standard rear-wheel drive is 328,000 yuan.