NIO released the 2023 Quarter 1 financial report Long Bridge US stocks premarket on June 9, Beijing time. Another large area of "spicy eye" performance, if the fourth quarter of last year is poor, the first quarter of this year is still a "strengthened version":

1. Poor sales and poor income:$NIO – SW.HK revenue 10.70 billion, and less than the market expectations, the 1 billion +, the sales difference is known, the key is because of the volume price, the old car, 75kwh entry models accounted for more, resulting in a unit price of only 297,000, significantly lower than market expectations.

2. Gross margin collapse: As the unit price fell below 300,000 for the first time, much lower than the previous guidance implied unit price of about 320,000,The gross profit margin of the car fell directly to 5% without impairment and other operations, far lower than the market expectation of about 10%. Obviously, the damage caused by the price reduction of the old model and the low gross profit margin of ET5, the capacity utilization rate in the process of platform replacement has particularly serious damage to NIO.

3. Guidance mediocre: second quarterGuidance sales 2.3 – 25,000 units, due to the known sales in April and May, implied sales in June after the release of the new ES6, finally began to stand on the 10,000, guidance implied sales in June should be about 11,000. And the company’s goal is that ET5 + ES6 double top stream can bring 20,000 monthly sales, this guidance is still significantly different from this goal.

However,$NIO. SG The price of implied bicycles behind the revenue guidance 87-9.40 billion may recover to about 320,000, the proportion of implied inventory vehicles may decrease, and the gross margin should recover.

4. NIO who is still "voting":Although the gross profit has dropped to less than 20,000 yuan, NIO wants to do a lot of things in R & D and needs to "warm up users". The investment in R & D and sales expenses has not seen obvious restraint. The operating loss rate hit a three-year high, reaching 48%, significantly higher than market expectations.

Dolphin Jun’s overall perspective:

For new forces with a very short period of new car explosions and repeatedly falling into the green and yellow of changing cars, Dolphin Jun naturally has a red label of "suspicious execution". Obviously, the current NIO is such a company.

Therefore, the previous share price of 9 yuan has fallen to the PS valuation level between life and death in 2019. Dolphin Jun proposed that companies with too big dreams and too weak execution cannot talk about bottom fishing lightly. By this financial report, the company’s share price was hovering at 7-8 yuan, and bottom fishing did not generate profits.

Of course, from the perspective of marginal changes, this performance is basically the bottom of NIO’s performance: because NIO’s double-top streaming car ES6 went on sale at the end of May and the ET5 hunting version went on sale in June, two promising cars began to contribute to full sales in the second half of the year, and all other models will basically transition to the NT2.0 platform. Sales and gross profit margins are unlikely to be worse, and will only go in the direction of improvement.

In the corresponding stock price, along with the improvement of sales volume and gross profit margin, there is also hope to slowly climb out of the bottom. But how much can be pulled up from the bottom, or can it return to the previous height? It depends on how much the original new power brother reflects on this wave of mistakes, and how much the execution improves. Dolphin Jun has doubts. At least to see the change of attitude first, you might as well listen to what NIO has to say in the phone call.

First, stronger than painting cakes, weaker than landing: NIO, it’s time to reflect

Let me remind you of the two core goals of NIO’s delivery this year:

1)NIO aims to deliver 250,000 vehicles this year.

2) By the fourth quarter, the monthly sales should stand firm 30,000 vehicles: the two pillar cars ET5 + ES6 have a total monthly sales of 20,000, ET7 + ES7 + ES8 have a total contribution of 8k-10k vehicles, and the two coupe EC6 and EC7 have a total monthly sales of about 2k vehicles.

Goals vs reality, let’s compare:

1) By the end of the first half of this year, the delivery was probably on 55,000 vehicles, barely completing a little more than 20% of the annual target. In the case of just climbing 10,000 in June, it is equivalent to 32,500 monthly delivery in the second half of the year, which means that the hope of achieving the 250,000 goal for the whole year is very slim.

2) Monthly sales 30,000 target vs May 6k reality: In May, due to NIO’s two top-class models – ES6 replacement and ET5 hunting car to be released, the new ES8 was launched in June and EC6 was launched in July; the new EC7 was relatively niche, and it was just launched and basically did not contribute to sales;, in addition, the market demand for ET7 and ES7 models that are not being replaced is weak, and the final result is that NIO sold a mere 6,155 units in May, even lower than in April.

On the list of new car makers in May, the original first brother has almost slipped to the bottom.

Fortunately, looking ahead, it should be the worst time for NIO nowFrom the perspective of the release rhythm of the model, NIO’s two promising contributions to large sales ET5 and ES6:

ES6: As the best-selling SUV in the NIO model matrix, on May 24 this year, NIO released an updated version of ES 6 (competitors mainly include Model Y, L7, etc.), and deliveries began that night.

According to market survey information, within 72 hours of ES6 release, the average intention of a single store was 90 orders, 20 prepaid orders, and ES6 contributed 60-70% of the incoming traffic. Preliminary data seems to be good.

2.) ET5 prey version: released on June 15 and delivered in the same month ET5 prey version, prey version will optimize the current ET5 rear space, it is estimated that part of the original wait-and-see ET5 lead.

After the two NIO top-class models are all launched in June, the monthly sales of tens of thousands is a reasonable expectation for the market. So from this quarter, the second quarter sales guidance given by NIO 2.3-2 5,000 vehicles are only within expectations.

Due to the sales volume of 6.7k in April and 6.2k in May, this guide implies that the sales volume in June is 11,000, which is basically the same as the market expectation of 10,000 vehicles in June. There is no further shock, but it is obviously not a surprise.

Overall, NIO has not really exploded in this cycle of car replacement, from new cars such as ET5 to the present. Compared with the ideal replacement cycle, the replacement time of NT2.0 models has been delayed for too long, and the problem is still obvious.

When the automotive market had long since entered the era where demand was king, NIO wanted too much, and its execution was still stuck in the era of "supply is king", completely unable to keep up with its peers who were crazy about rolling in.

Finally, from the perspective of the actual delivery volume in the first quarter, only 31,000 vehicles were achieved, barely reaching the lower limit of the original target 3.1-3 3,000 vehicles.

Fatal Expectation Spread: Gross Margin Revisited

Behind the poor sales volume, the gross profit margin was pulled again, and the severity exceeded the one-time impairment 1 billion due to "inventory impairment provisions, accelerated depreciation of production equipment, and loss of old 866 purchase agreement" in the first quarter.

In the first quarter of this year, NIO’s gross profit margin of automobile sales was only 5.1%, while the gross profit margin of automobiles 1 billion one-time factors was 13.5% in the last quarter, while the market’s expectations for the gross profit margin of automobiles in the first quarter were basically in double digits, basically between 10% and 12%.

Specifically, consider the bicycle economy.

1) In the first quarter, bicycle revenue hit a record low, falling below 300,000 for the first time, only 297,000, and the cost of bicycles directly fell 70,000.

Of course, the reason is also obvious. During the new car replacement period, the old 866 model has exhibition car clearance, national subsidies, and financial discounts, etc.; while the unit price of the new ET5 itself is lower than that of the previous models, the gross profit margin is also low, and the average price decline is normal.

2) Now that NT1.0 is converted to NT2.0, the intermediate capacity utilization rate is very low, which will also drag down the gross profit margin; the cost of a bicycle cannot go down synchronously with the price of a single car, and the gross profit of a bicycle is further reduced by 3,000 yuan compared with the fourth quarter, and the gross profit margin is directly pulled from 6.8% to 5.1%. The standard gross profit margin for car manufacturing should be around 20%, which is too large.

Fortunately, looking ahead, NIO couldn’t be any worse.

The company’s guidance for the second quarter revenue is between 87.4 and 9.37 billion. Dolphin Jun’s estimated bicycle revenue should be about 32.5-33 million, and by the end of the second quarter, basically all NIO models have been transferred to the NT2.0 platform.

In addition, although the overall price of lithium carbonate has reached about 300,000 from the beginning of the 190,000, compared with the previous 500,000, there is still a trend to fall, and the decline in battery costs will also help NIO to ease the cost pressure.

Of course, under the brand tone of NIO’s "no price reduction", the real increase in gross profit margin still depends on whether NIO really reaches the target of 30,000 monthly sales and pulls up the capacity utilization rate. And on this point, Dolphin Jun is still skeptical:

1) In terms of the current trend, the Chinese luxury car market above 30w seems to have a relatively tenacious vitality of fuel vehicles, and the penetration rate is relatively slow. At present, it is less than 20%, which is not as good as the overall pure electric penetration rate.

2) In the absence of insufficient facilities such as fast charging/power exchange, when pure electric luxury cars further go out of first-tier cities such as Shanghai and further penetrate into the lower-tier market, it seems that there is no ideal range extension model that can better target user pain points.

Third, the income pulls the hips, the natural result of poor sales

NIO’s revenue 10.70 billion in the first quarter, growing by only 8% year-on-year, significantly lower than the market consensus expectations 11.60 billion, clearing inventory and other low unit prices are the core issues.

The only thing that came up a little bit this quarter was auto revenue other than auto sales, which hit 1.45 billion this quarter, a lot more than the market expected 11-1.20 billion.

NIO’sOther business revenue sources primarily include revenue from the sale of energy and service packages, as well as revenue generated from embedded products and services that go hand in hand with vehicle sales, such as charging stations, in-vehicle internet connectivity services, and more.

The company has always maintained a high-end strategic positioning, hoping to provide better service and experience to car owners in terms of brand management and user community through better gross margins.

Data source: company earnings, Long Bridge Dolphin Investment Research

Data source: the company’s official website, Long Bridge Dolphin Investment Research

In addition, at the Berlin conference of NIO last October, the overseas models were mainly charged by fixed lease and floating subscription. For example, the rental time provided by the fixed rental fee is generally 1-5 years, and the fixed monthly rent is adopted. For short-term flexible cars, monthly subscriptions can be used. Short-term subscriptions can be cancelled at any time two weeks in advance. Vehicles can be replaced at will, and as the age of the car increases, the monthly fee will be reduced accordingly.

The additional growth in other revenue this quarter is expected to be related to NIO’s overseas sales growth: from January to April, NIO sold more than 150 vehicles in Germany, more than 184 in Norway, and more than 450 worldwide, which should contribute to this part of the revenue.

But the problem here is that, because these markets are in the early stages of development, when they contribute revenue, they basically lose money early on. So the rest of the business saw revenue increase this quarter, but the losses were also severe: less than 1.50 billion revenue in the first quarter, costs were almost 1.80 billion, and the gross loss ratio was 21%.

IV. Gross profit is almost "zero"

If the fourth quarter NIO gross profit was miserable, the first quarter was even more miserable, because other income business directly gross loss, and the car sales business sold cars 9.20 billion, only earned less than 500 million gross profit. The overall group level gross profit is only 160 million, no better.

Invest "a lot of money"

Although after subtracting external costs, only gross profit 100 million, but expenses are not less: R & D expenses 3.10 billion, basically within the normal range between 30 and 3.50 billion of the company’s original quarterly guidance; sales and administrative expenses 2.45 billion, just a little less than the market expected 2.70 billion.

Overall, due to the fact that NIO wants to do too many things and has too many dreams in R & D, the possibility of cost reduction in R & D is very small. So far, I have not seen it openly reflect on cost reduction and efficiency like Xiaopeng.

In the sales system, NIO has always been a "warm user" approach, and sales have not seen very clear signs of control.

Six, NIO has passed the life and death tribulation again

The same painting style as the fourth quarter, but it came more tragically: delivery pulling hips, income pulling hips, gross profit margin pulling hips, cost and investment rigidity, and operating profits are hotWhat is it?

The single-quarter operating loss 5.10 billion; the operating loss rate was 48%, a new high in the past three years.

Summary:

In the eyes of Dolphin Lord, internal reflection and rapid adjustment in the current state of NIO may be more important than boasting and describing the grand blueprint of 5-10 years.

　　Navigation software can speed us up, but we can also find wonders in the "slow life"; navigation software can allow us to travel far, but we should not give up our sense of the nearby environment

　　Walking on the street, opening the phone to browse the navigation interface to confirm the destination; coming to an unfamiliar place, clicking on the navigation to explore in place, hoping to find the east, west, north and south… Nowadays, navigation software has been integrated into daily life, playing an increasingly prominent role in optimizing traffic operation and saving commuting time.

　　Objectively speaking, navigation software is the product of technological progress. For a long time in history, finding the way was a practical need faced by people. To avoid getting lost, the ancients relied on well-made markers, or unfolded simple maps, or asked strangers for directions. The verse "Ask where the restaurant is, and the shepherd boy points to Xinghua Village" vividly depicts the scene of asking for directions. In reality, whether it is marking or asking for directions, it is difficult to match the accuracy, convenience and experience of mobile phone navigation.

　　Today, with the help of navigation software, finding the way is no longer a problem. In 2020, our country built the Beidou-3 global satellite navigation system to provide services to the world. In space, the Beidou navigation satellite operates day and night, providing location information services to countless end points. On the ground, whether driving, cycling or walking, people open the mobile phone navigation software and follow the prompts to reach their destination. With the development of the economy and the deepening of urbanization, the popularization of navigation technology helps people reach the place they want to go more quickly and effectively, and also makes mobile China more vibrant.

　　However, there are also scientific studies showing that over-reliance on navigation software may cause the brain to reduce its interaction with the surrounding environment. Not only that, but navigation not only provides us with location information, but also affects our route choices at all times, shaping our cognition of space and time. For example, the destination search function allows us to automatically pop up options without looking for a specific location on the map; the route recommendation function, so that we no longer need to choose a route based on experience. In a sense, navigation software does allow us to cross a specific space in the least time, improving the efficiency of space-time conversion, but it may also make us miss the scenery along the way.

　　In the fast-paced modern society, the importance of efficiency is self-evident. But while pursuing speed, how to perceive the environment more richly and better understand the relationship between ourselves and the wider world is also a topic of "on the road". In the past, Xie Liang, the old man, volunteered to guide others for 16 years, which made many new visitors to Beijing feel the warmth of the city; now, with a mobile phone in hand, many people do not want or need to ask for directions. Once, the buildings, streets and flowers and trees of the city were deeply embedded in our memory when we knew the way; now, the route that some people remember best is the section from the subway station to the bus station. To a certain extent, focusing only on the connections and numbers in the navigation software can easily make people ignore the natural, historical, and cultural elements in the environment, as well as the fireworks, human touch, and beautiful scenery around them, thus losing the fun of "people on the journey" in a hurry.

　　Today, navigation software has become a necessity for many people’s lives. It is worth thinking about how to better integrate technology into our lives. Navigation software can make us faster, but we can also find wonders in the "slow life"; navigation software can allow us to travel far, but we should not give up the feeling of the nearby environment. Keep a heart of discovery, and maybe you will find that the convenience of navigation software and the beauty of the city have always been there.

　　"People’s Daily" (April 19, 2022, edition 05)

Special Topics: Earthquake Relief, Donations with Love

　　Jackie Chan and Jet Li will go to the disaster area one after another (data map)

　　Chengdu Business Daily, May 16A sudden disaster has made people lament the fragility of life, and the mutual support after the disaster has made people deeply appreciate the kindness and strength of human nature. The entertainment industry is in action. Yesterday, Shao Yifu donated 100 million Hong Kong dollars for disaster relief, and many celebrities have further increased their donations. What is even more touching is that after the disaster, celebrities have donated money one after another, and some celebrities have also come to the front line of the disaster area regardless of their own safety. In addition to Jackie Chan coming to Hong Kong today to comfort the victims, Jet Li will also arrive in Hong Kong tomorrow with disaster relief supplies, and Beichuan may be his first stop.

　　Jackie Chan will go to Mianyang

　　In addition to donating tens of millions of yuan, Jackie Chan is also personally coming to Chengdu today to offer condolences to the victims. It is reported that Jackie Chan is absent from Cannes due to work, but he will put down his work today and fly to Rongcheng. The first stop of condolences may be Mianyang.

　　Jackie Chan recorded the disaster relief song "Life and Death" with great enthusiasm last night. After that, the eldest brother will stand on the same stage with Jet Li again. After the Sichuan earthquake, people in the entertainment industry moved quickly to contribute their own strength to the earthquake relief. Yesterday, reporters learned that Jackie Chan and Jet Li will come to Chengdu today and tomorrow respectively, bringing precious materials and boosting the morale of the earthquake relief.

　　In addition to donating tens of millions, Jackie Chan is actually coming to Chengdu today to offer condolences to the victims. Yesterday, Jackie Chan has sent two assistants to Sichuan to learn about the situation in the earthquake-stricken areas. The reporter learned from informed sources that after the earthquake, Jackie Chan was very worried about the situation of the people in the disaster area. On the afternoon of the 14th, his assistant called Deng Changcheng, a contestant of "Descendants of the Dragon", to learn about the situation on the front line. Deng Changcheng responded to the call of the Communist Party Committee of the Communist Party of China to join the volunteer team and went to Dujiangyan after the earthquake. He reported what he knew to Jackie Chan. After understanding the situation, Jackie Chan immediately decided to go to Sichuan as soon as possible to go to the first-line disaster area!

　　Yesterday afternoon, two of Jackie Chan’s assistants went to Dujiangyan with Deng Changcheng to understand the disaster situation, and did not return to Chengdu until 7 pm. They came to a collapsed building in Dujiangyan City, and the situation in front of them was unbearable to witness. "I heard that there are three people inside, and I hope they can survive." The reporter learned that the company has been hoping that Jackie Chan will delay the date of coming to Chengdu for safety reasons, and come back after the situation is further stabilized. At noon yesterday, Jackie Chan talked to the assistant who had already arrived in Rong. After listening to the assistant’s opinions, he still insisted on going deep into the disaster area as soon as possible.

　　Jet Li personally delivered supplies to the disaster area

　　In addition to Jackie Chan’s eldest brother will go to the disaster area, the reporter learned that Li Lianjie will also fly to Rongcheng tomorrow, and Beichuan may be one of his stops. Li Lianjie experienced a tsunami a few years ago and witnessed countless lives being swallowed up in an instant. This also made a major change in the course of his life. In addition to movies, his other career is managing the One Foundation. The earthquake in Sichuan made Li Lianjie feel the pain of the victims. As the founder of the One Foundation, he will come to Chengdu tomorrow to bring a large number of disaster victims in urgent need of supplies.

　　Yesterday, the "China International Committee of the Red Cross Li Lianjie One Foundation Program" held a briefing on the 5.12 Sichuan earthquake relief situation. Li Lianjie attended the briefing and expressed his concern for the disaster area. Tomorrow, he will come to the earthquake-stricken area to distribute relief supplies to the victims.

　　Since the earthquake occurred on May 12, One Foundation has been closely monitoring the development of the disaster situation, and has been in daily contact with the rescue teams of the International Committee of the Red Cross in the disaster area ahead to learn about the latest situation. So far, One Foundation has raised a total of 28.05 million yuan for disaster relief. After the Wenchuan earthquake occurred on May 12, One Foundation allocated 1 million yuan to support the disaster area as soon as possible.

　　After learning that the people in the disaster area lack tents, bedding, food, drinking water, medicine and other basic living and medical security materials, One Foundation launched a new round of fundraising call, calling on enterprises all over the country to donate materials. One Foundation assists enterprises to donate to the local International Committee of the Red Cross for distribution and supervises the distribution process. Tomorrow, One Foundation founder Jet Li will fly to Chengdu with the first batch of materials to directly deliver the materials to the local International Committee of the Red Cross for distribution to the people in the disaster area. (Text/Xu Yunxiao)

Editor in charge: Li Dan

　　As we all know, in the past three decades, Suzuki has been a great success in the Chinese market with its environmental protection + small car strategy, winning the reputation of energy conservation and environmental protection. To take a recent example, in the 2014 average fuel consumption of passenger car enterprises announced by the Ministry of Industry and Information Technology recently, Changan Suzuki won the energy-saving championship among nearly 100 large domestic passenger car enterprises participating in the publicity with the stunning data of 5.8L/100km.

　　Suzuki’s perseverance has provided an opportunity for Suzuki to usher in a new round of leaps and bounds.

　　With the increasing air pollution caused by factors such as motor vehicle displacement in recent years, advocating energy conservation and environmental protection has become a consensus of the whole society. Especially in this year’s government work report, it is clearly stated that it is necessary to "fight the tough battle of energy conservation and emission reduction and environmental governance" and "control motor vehicle exhaust". The attention of the national level and the improvement of environmental awareness of ordinary people also call on car companies to fulfill more social responsibilities and introduce greener and more environmentally friendly products through various means such as innovative technology.

　　It can be seen that Suzuki’s car-making philosophy and long-standing efforts coincide with the general trend of today’s China. Especially for Changan Suzuki, which has raised "energy conservation and environmental protection" and built "low-energy-consuming and high-quality" cars to the height of its corporate mission, the weather, the location, and the people are all available. Good wind is waiting for Kunpeng to take advantage of!

Recently, a reader initiated a small survey on our exchange group – Huawei asked which of the two cars, the new M7 and the ideal L7, would you choose?

Here are the responses from readers in the group:

That’s right, all ask the world about the new M7. Correspondingly, the order of the new M7 broke through 50,000 units in 25 days.

With this new car orders surge, the greatest sense of crisis is ideal.

According to 36Kr, in the last week before the festival, Li Auto held a strategy meeting to discuss its development direction in the next 5-10 years. One significant adjustment was that it was ideal to replace the first strong opponent by BYD with Huawei.

Although Huawei has always insisted on not building cars, its influence in the car circle cannot be shaken, and asking the new M7 to "come back to life" in a short period of time is the best proof. So after Cyrus hitched a ride, Chery was also waiting for Huawei to fire its own new energy vehicle.

Not only ideal, other car companies are also beginning to pay attention to this new opponent. Huawei’s tentacles are getting longer and longer, who will be the next to be squeezed off the table?

What are you afraid of Huawei?

The success of the new M7 is based on the popularity of the masses.

The public opinion of the mountain and tsunami can be seen and touched, and these can be converted into real orders. It is reported that Huawei aims to ship 60 million – 70 million smartphones in 2024, double the annual shipment (30 million) in 2022.

With the appeal of Huawei mobile phones in the end point market, Huawei’s empowered Q models have also begun to reflect.

During the National Day holiday, the new M7 has a maximum of 7,000 units in a single day. Since its listing in mid-September, the cumulative number of units has exceeded 55,000.

This achievement also made Yu Chengdong sigh "it’s not easy". Of course, in terms of product strength, the new M7 also has enough confidence. The starting price of the new M 7.2498 million yuan is 40,000 cheaper than the old model.

Huawei has invested 500 million yuan in research and development, and has made upgrades to the chassis and performance, space design and layout, and most importantly, intelligent driving.

The intelligent driving and intelligent cockpit are the killer features of the new M7.

The new M7 is equipped with HUAWEI ADS 2.0 advanced intelligent driving system, and the most significant change is the addition of a lidar, which has the ability to assist driving in high-speed, urban, parking, and other scenarios.

HUAWEI ADS 2.0 is equipped with 27 sensors including 1 overhead lidar, 3 millimeter wave radars, 11 high definition visual perception cameras and 12 ultrasonic radars. It can realize NCA function based on BEV large model, road topology inference network and joint planning control without high definition map.

This is also Huawei’s greatest reliance. The urban smart driving pilot assistance (urban NCA) function will cover urban areas and expressways across the country in December this year.

The ideal AD Max 3.0 city NOA navigation assistance driving system has only been pushed to closed beta users since the second quarter of this year. It is expected to be pushed to more than 100 cities in China by the end of this year.

So from this round, Huawei is indeed far ahead, and even Li Xiang himself admits that their intelligent driving is half a year late.

And Huawei empowered the world, from birth to entry, as Huawei managing director, end point BG CEO, intelligent car solutions BU chairperson of Yu Chengdong, played a crucial role.

From "Yu big mouth" to "far ahead", Yu Chengdong can be said to be a "marketing wizard", but Lao Yu "although big mouth", but what goes around is technology.

The marketing focus was also technology. He was extremely good at packaging a certain technology in language, and then giving a review – far ahead.

Previously, Yu Chengdong said in an interview with the media that Huawei’s goal in entering the automotive industry is to be first, because no one will remember the second, and he once bluntly said that "the cattle I bragged about have basically been realized."

In this regard, Yu Chengdong is actually very similar to Li Xiang, the "king of Weibo", and he is a sharp-edged person in personality.

Therefore, Yu Chengdong was a person who understood both technology and marketing. Even as a new player, he could cut into the competitive Red Sea automobile market with a attitude of dimensional reduction.

How can the ideal be broken?

When a car company sells its cars better and better, and its competitors become more and more numerous, its original weaknesses will gradually surface. This is a good example of the reverse trend of the new M7.

The ideal obviously realizes this.

– His investment in intelligent driving has been slightly conservative and cautious.

36Kr reported that at this ideal autumn strategy meeting, intelligent driving became the core topic. Li Xiang reflected and concluded at the meeting that investment in intelligent driving should start half a year earlier, that is, from the middle of last year, we should go all out, rather than starting to increase efforts at the beginning of this year.

An important consensus was reached at the meeting, that is, "make up for the missed classes, and break the game by strengthening investment." After all, the ideal account still has 70 billion cash.

At the meeting, Wang Xing, Lu Qi and other shareholder bosses also said that "increase investment, and even sacrifice some efficiency" when talking about their attitude towards ideal smart driving.

Reviewing the time node of Ideal Smart Driving’s research and development, Ideal announced the start of high-precision maps in 2021, and only landed on high-speed NOA in December of the same year. In August 2022, Ideal officially delivered the Smart Driving 2.0 system on the L series.

Since then, the ideal of intelligent driving has been divided into two products: AD Max and AD Pro. AD Max 2.0 uses NVIDIA OrinX chip and Wesai car-grade lidar to deliver the first high-speed NOA product for visual fusion lidar; AD Pro 2.0 uses Horizon Journey 5 chip to deliver the first high-speed NOA product for pure visual perception.

Until September this year, Li Auto released the closed beta of urban NOA technology and commuter mode, and announced its city-opening plan, but it is worth noting that Li Auto’s city-opening plan is only limited to early bird users.

Under such a rhythm, it is not difficult to feel the actual landing ability of Li Auto’s intelligent driving function, which has a certain gap with friends such as XPeng Motors and Huawei.

Therefore, at this strategic meeting, the development of intelligent driving was also raised to an unprecedented level within the ideal.

First, the person in charge of the ideal internal perception and system was promoted to vice president respectively. On the third day after the National Day, Li Auto’s official account released more than 50 smart driving club recruitment positions.

Which covers the software algorithm, large model, vehicle hardware, testing, operation and other fields, intelligent driving algorithm engineer and a series of positions, most of the starting salary of about 30,000 yuan, large model and autonomous driving related positions, the highest monthly salary can reach 90,000 yuan.

At present, there are as many as 63 job openings for Ideal Smart Driving, covering visual perception algorithms, autonomous driving models, simulation platforms, map data engines, and other categories. The smart driving R & D team has also increased to 800 people.

All kinds of actions show that the weight of the smart driving business has been greatly increased within the ideal. Correspondingly, in the face of the current strong counterattack of the new M7 in the world, the ideal at this stage has decided to take advantage of its strengths and avoid its weaknesses, continue to strengthen the product longboard in the home market, and no longer compete with the new M7.

According to a report by 36Kr, the sales side has also changed its language, and does not take the initiative to mention the M7. If a car owner asks, they will say that an L6 model will be launched next year, which is the same price as the M7.

In addition to this, Li Auto’s product SOP plan has also been extended to 2027. During this period, Li Auto’s technology platform will experience an earth-shaking iteration. It is expected that by 2026, a new generation of technology platforms will be launched, with fully autonomous driving capabilities.

The two will fight

At the strategy meeting, many aspects of the ideal were planned, and the sea plan was also mentioned.

Ideally, going to sea will not be the ideal strategic focus for a relatively long period of time, and it may not be seriously considered until 2028. Before that, parallel exports will be the main focus.

In July this year, Li Xiang himself also sent a Weibo saying that Li Auto will not consider overseas markets before 2025, and will concentrate all resources to achieve the 2025 goal: to achieve the first sales volume of all luxury brands in the Chinese market, the annual delivery volume reaches 1.60 million vehicles, and to achieve revenue of 500 billion yuan.

The ideal is lofty, but it is indeed possible to achieve. Only 8 years after its establishment, the ideal has become the second most valuable car company in China after BYD. In 46 months, it has achieved the delivery of 500,000 vehicles.

How did Li Auto do it?

Li Xiang has publicly given the answer that growth is the core driving force of Li Auto, and every time he encounters a bottleneck, it is a time to frantically absorb growth. In his dictionary, growth is a closed loop composed of two parts, one is learning, the other is training, that is, practice.

Li Xiang himself is a very good learner and a reflective person, and the learning object is Huawei, which is also a competitor.

As early as June, Li Xiang released a small essay late at night, in which he reflected on the reason why the ideal ONE was discontinued early. Li Xiang admitted that it was because of the release of the original Q-World M7 that Huawei’s super capabilities directly caused the sales of the ideal ONE to collapse and stop production early, and the team was crippled.

In the case of failure, the ideal choice was to learn from Huawei. Li Xiang said that all the ideal management teams had purchased at least 10 Huawei public books to read.

Discovering that the painful problems encountered by Ideal in Product Research & Development, sales and service, supply manufacturing, organization and finance, etc., were solved by Huawei more than a decade ago, or even 20 years ago, which gave him a great shock.

And the ideal implementation of a talent rank system similar to Huawei’s, breaking down the ranks into more details, such as the original P9 sequence corresponding to more than 20 levels of the new rank, which can make "the promotion speed will be faster and have an incentive effect".

The same extended-range technology, similar product positioning and segmentation areas, make the world and the ideal destined to be entangled with each other. The old M7 in the world has impacted the ideal ONE, and now the new M7 has made the ideal feel the crisis again.

There will be a battle between the two, who will win? Another question is, who will you choose for the ideal L7 and the new M7?

　　[Autohome News] On June 9, Geely (|) debuted at the 2023 Chongqing Auto Show. The new car launched a total of 5 configurations, and the price range is 13.87-17 3,700 yuan. As the first model of Geely’s new mid-to-high-end new energy series, Galaxy L7 is equipped with a plug-in hybrid system composed of a 1.5T engine + a 3-speed DHT gearbox. The comprehensive cruising range of CLTC working conditions reaches 1370km. The new car is positioned as a compact SUV, and competitors are targeting BYD Song PLUS DM-i and other models.

　　Looking at the new car, the Galaxy L7 adopts the design language of "Galaxy Light". The front of the car is designed with a closed grille, and the front of the car looks very full through smooth curves. In addition, the new car also incorporates popular design elements such as through light strips and split headlights to make it look very avant-garde. In terms of body color, the new car will be available in six body colors, namely Morning White, Midnight Black, Dawn Grey, Clear Sky Blue, Twilight Mountain Purple and Galaxy Colorful White.

　　From the side, the new car uses a two-tone body design to create a floating roof feeling, and through the smooth line design to make it look like a crossover SUV, enhancing the appeal to young consumers. In terms of body size, the length, width and height of the new car are 4700/1905/1685mm, and the wheelbase is 2785mm. In terms of the tail, we can see that the through taillights, large-size spoilers and diffusers are not absent. At the same time, the lower enclosure echoes the design of the two ends of the taillights, which looks very dynamic.

　　Entering the car, the new car will be equipped with a combination of 10.25-inch instrument + 13.2-inch central control screen + 16.2-inch co-pilot screen as standard. In addition, the new car will also be equipped with an 8155 chip and a Galaxy N OS system. The operation mode of the central control screen is very close to that of a smartphone, and it also supports gesture control and a four-zone intelligent voice system. The overall technological sense is outstanding. In addition, the new car can also be upgraded with a 25.6-inch AR HUD display to further meet the needs of different users.

　　In addition to the functions of electric adjustment, heating, ventilation, and memory, the main driver’s seat is also equipped with physiotherapy functions, and the passenger seat is also equipped with electric leg supports. At the same time, the car also supports cinema mode. When turned on, the rear seat will automatically recline to a comfortable angle of 125 degrees. In addition, the new car is also equipped with 11-speaker Infinity audio, car fragrance, negative ion generator, mobile phone smart Bluetooth key, and L2-level driving assistance.

　　In terms of power, the new car will be equipped with a new generation of Raytheon Electric Hybrid 8848 system, which is composed of Raytheon 1.5T four-cylinder hybrid special engine + 3-speed variable frequency electric drive DHT Pro (the motor uses P1 + P2 scheme). The system has a comprehensive maximum power of 287kW (390 horsepower), a comprehensive maximum torque of 535 Nm, and an acceleration of 0-100km/h of 6.9 seconds. In addition, the new car has a pure electric endurance of 55km and 115km respectively (CLTC conditions), corresponding to a comprehensive cruising range of 1310km and 1370km respectively (CLTC conditions), a comprehensive fuel consumption of 2.35L/100km and 1.3L/100km respectively (WLTC conditions), and a power loss fuel consumption of 5.23L/100km (WLTC conditions). (Text/Autohome Zhang Xiaodan)

The General Office of the State Council on deepening reform

Guiding Opinions on Promoting the Healthy Development of the Taxi Industry

Guoban Fa [2016] No. 58

The people’s governments of all provinces, autonomous regions, and municipalities directly under the Central Government, and all ministries, commissions, and agencies directly under the State Council:

　　In order to implement the central government’s decision-making and deployment on comprehensively deepening reform, actively and steadily promote the reform of the taxi industry, encourage innovation, promote transformation, and better meet the travel needs of the people, with the approval of the State Council, the following opinions are hereby proposed.

　　I. Guiding ideology and basic principles

　　(1) Guiding ideology. Deeply implement the spirit of the 18th National Congress of the Communist Party of China and the spirit of the Second, Third, Fourth and Fifth Plenary Sessions of the 18th Central Committee of the Communist Party of China and the spirit of the series of important speeches by the General Secretary of the Supreme Leader, implement the decisions and arrangements of the Party Central Committee and the State Council, in accordance with the overall layout of the "Five in One" and the "Four Comprehensive" strategic layout, firmly establish and implement the development concept of innovation, coordination, green, openness and sharing, give full play to the role of the market mechanism and the guiding role of the government, adhere to the basic idea of giving priority to the development of public transportation and moderately developing taxis, promote the structural reform of the taxi industry, effectively improve the service level and regulatory capacity, and strive to build a diversified and differentiated travel service system, promote the sustainable and healthy development of the taxi

　　(2) Basic principles.

　　Adhere to the passenger-oriented. Take ensuring the safe travel of passengers and safeguarding the legitimate rights and interests of the people as the starting point and end point of reform, and provide the public with safe, convenient, comfortable and economical personalized travel services.

　　Adhere to reform and innovation.Seize the favorable opportunity to implement the "Internet +" action, adhere to the problem orientation, promote the transformation and upgrading of cruise taxis, standardize the operation of online rental cars, and promote the integrated development of the two business models.

　　Adhere to overall consideration. Coordinate public transportation and taxis, coordinate innovation and development with safety and stability, coordinate the development of new and old business models, coordinate the interests of passengers, drivers and enterprises, and promote reform step by step, actively and carefully.

　　Adhere to legal norms. Correctly handle the relationship between the government and the market, strengthen the rule of law thinking, improve the legal system of the taxi industry, promote industry reform in accordance with the law, maintain a fair competition market order, and protect the legitimate rights and interests of all parties.

　　Adhere to territorial management. The urban people’s government is the main body responsible for taxi management. It should give full play to autonomy and creativity, and explore a management model that is in line with the actual development of the local taxi industry.

　　Second, clarify the positioning of the taxi industry

　　(3) Scientifically positioning taxi services. Taxi is an integral part of the urban comprehensive transportation system, a supplement to urban public transportation, and provides personalized transportation services for the public.Taxi services mainly include cruises, online reservations, and other means.The urban people’s government should give priority to the development of public transportation, develop taxis moderately, and optimize the urban transportation structure.It is necessary to coordinate the development of cruise taxis (hereinafter referred to as cruise cars) and online rental cars (hereinafter referred to as online taxi-hailing), implement dislocation development and differentiated management, and provide quality and diverse transportation services for the public.It is necessary to take into account the characteristics of large, medium and small cities, the diverse travel needs of the public and the development orientation of taxis, comprehensively consider factors such as population size, economic development level, urban traffic congestion, and taxi mileage utilization rate, and rationally grasp the scale of taxi transportation capacity and the share ratio in the urban comprehensive transportation system. Establish a dynamic monitoring and adjustment mechanism to gradually realize market regulation. New and updated taxis, priority is given to the use of new energy vehicles.

　　III. Deepening the reform of cruise vehicles

　　(4) Reform the management system of the right to operate. All new rental car operating rights shall be subject to term restrictions, and no further indefinite restrictions shall be imposed. The specific period shall be determined by the city people’s government according to the actual local situation. All new rental car operating rights shall be used free of charge, and the operating entity shall not be changed. If the existing rental car operating rights need to be changed within the term, the modification procedures shall be handled in accordance with the conditions and procedures stipulated by laws and regulations, and no speculation or unauthorized transfer shall be allowed. For existing rental car operating rights that do not specify the specific operating period or have been used for compensation, the city people’s government shall comprehensively consider all factors, scientifically formulate a transition plan, reasonably determine the operating period, and gradually cancel the paid use fee. Establish and improve the operation rights allocation and management system guided by service quality and reputation, and withdraw the operation rights in accordance with relevant regulations if the period of operation rights expires or there are major service quality problems, major safety production liability accidents, serious illegal business activities, and unqualified service quality and reputation assessments during the operation process.

　　(5) Completing the benefit distribution system. Taxi operators shall sign employment contracts or business contracts with drivers in accordance with the law. Contractors who adopt the contracting mode of operation and self-employed individuals who have obtained the right to operate shall obtain the qualification of taxi drivers, register for employment according to regulations and directly engage in operational activities. It is necessary to use Internet technology to better build a business model in which enterprises and drivers share operational risks and reasonably distribute benefits. Encourage, support and guide taxi enterprises, industry associations to negotiate on an equal footing with taxi drivers and trade unions, and reasonably determine and dynamically adjust the taxi contract fee standard or quota task according to factors such as operating costs and changes in freight rates. If the existing contract fee standard or quota task is too high, it should be reduced. It is necessary to protect the legitimate rights and interests of drivers and build a harmonious labor relationship. It is strictly forbidden for taxi companies to charge high collateral from drivers, and the existing collateral should be reduced if it is too high.

　　(6) Straighten out the price formation mechanism. All localities can implement government pricing or government-guided pricing for cruise car freight rates according to the actual situation in the region, and incorporate them into the government pricing catalogue according to law. Taking into account the operating costs of taxis, the income levels of residents and drivers, traffic conditions, service quality and other factors, scientifically formulate and timely adjust the level and structure of taxi freight rates. Establish a dynamic adjustment mechanism for taxi freight rates, improve pricing rules, improve the linkage method between freight rates and fuel prices, and give full play to the leverage role of freight rates in adjusting the supply and demand relationship in the taxi transportation market.

　　(7) Promote the transformation and upgrading of the industry.Encourage cruise car operators and online taxi booking operators (hereinafter referred to as ride-hailing platform companies) to implement corporatized management in accordance with modern enterprise systems through mergers, restructurings, and absorption of shares, so as to achieve the integrated development of new and old business models. Encourage cruise car enterprises to transform and provide online ride-hailing services. Encourage cruise cars to provide operation services through telecommunications, Internet and other e-hailing service methods, promote the use of non-cash payment methods that meet financial standards, expand service functions, and facilitate public ride-hailing.Encourage self-employed people to form a company with a certain scale, implement organizational management, improve service quality, reduce management costs, and enhance anti-risk ability. Encourage business operators to strengthen branding, take the initiative to disclose service standards and quality commitments, carry out safety, integrity, and high-quality service creation activities, strengthen service quality management, and provide high-quality services.

　　IV. Standardize the development of online car-hailing and private passenger car sharing

　　(Eight) standardize the development of online car-hailing.Online car-hailing platform companies are providers of transportation services, and should have online and offline service capabilities, assume carrier responsibility and corresponding social responsibility. Drivers and their vehicles providing online car-hailing services should meet the basic conditions for providing passenger transportation services. Market-adjusted prices are implemented for online car-hailing, and government-guided prices may be implemented if the city people’s government deems it necessary.

　　(9) Regulate the business behavior of online car-hailing. Online car-hailing platform companies shall make full use of Internet information technology, strengthen the production, operation and management of service vehicles and drivers, and continuously improve the ride experience and service level. Provide operation services in accordance with relevant state regulations and standards, reasonably determine the metering method, ensure the safety of operation and the legitimate rights and interests of passengers, and shall not engage in improper price behavior. Strengthen network and information security protection, establish and improve data security management systems, collect, use and protect personal information in compliance with the law, and shall not disclose sensitive information involving national security. The personal information collected and the business data generated shall be stored and used in the Chinese mainland. Online car-hailing platform companies shall safeguard and protect the legitimate rights and interests of drivers.

　　(10) Regulate private passenger car sharing. Private passenger car sharing, also known as carpooling and ride-sharing, is a shared mode of travel where the ride-sharing service provider publishes travel information in advance, and people with the same travel route choose to take the ride-sharing service provider’s passenger car, share part of the travel cost or help each other for free. Private passenger car sharing is conducive to alleviating traffic congestion and reducing air pollution. City people’s governments should encourage and regulate its development, formulate corresponding regulations, and clarify the rights and obligations of the three parties, including the ride-sharing service provider, the ride-sharing person, and the ride-sharing information service platform.

　　Create a good market environment

　　(11) Improve service facilities. The urban people’s government shall incorporate comprehensive taxi service areas, stopping points, waiting berths and other service facilities into the urban infrastructure building plan, make overall and reasonable arrangements, conscientiously organize and implement them, and properly solve the actual difficulties of taxi drivers in parking, dining, toileting, etc. In airports, stations, docks, shopping malls, hospitals and other large public places and residential areas, cruise bus waiting areas shall be demarcated to facilitate taxi operations and better provide services for passengers to travel.

　　(12) Strengthen the construction of the credit system. It is necessary to implement the service quality credit assessment system and the driver qualification management system, formulate taxi service standards, credit management systems for operators and employees, and clarify the basic requirements for operating in accordance with the law and providing honest services.Actively use the Internet, big data, cloud computing and other technologies to establish an evaluation system for taxi operators and drivers, strengthen the recording of information such as violations of laws and regulations, dishonesty, complaints and reports, and passenger service evaluations, as an important basis for taxi operators and employees to enter and exit, and incorporate it into the national credit information sharing platform and the national enterprise credit information publicity system.

　　(13) Strengthen market supervision.It is necessary to innovate supervision methods, simplify licensing procedures, and implement online processing.It is necessary to disclose information such as the main body, quantity, mode of acquisition and change of operating rights of taxi operators, conduct regular taxi service quality assessments and release them to the public, and further improve the transparency of industry supervision. It is necessary to establish a joint supervision and law enforcement mechanism led by the government, with the participation of departments and the linkage of blocks, and a joint punishment and exit mechanism. It is necessary to establish and improve the supervision platform, strengthen the supervision of the whole process, investigate and punish the behavior of taxis that hinder fair competition in the market and price violations in accordance with the law, and severely crack down on illegal operations, gathering crowds to disrupt social order, or inciting organizations to disrupt the operation order and damage the public

　　(14) Strengthen the construction of the legal system. It is necessary to accelerate the improvement of laws, regulations and standards for the management and operation of taxis, clarify management responsibilities and legal responsibilities, standardize qualification conditions and business licenses, and form a relatively complete system of laws and regulations for the management of taxis, business services and market supervision.

　　(15) Implement the main responsibility of the local people’s government. All localities should establish a reform leadership mechanism to strengthen the organization and leadership of deepening the reform of the taxi industry. It is necessary to formulate specific implementation plans, clarify work objectives, refine and decompose tasks, establish relevant departments, trade unions, industry associations and other multi-party joint working mechanisms, and steadily advance various reform tasks. It is necessary to strengthen social communication, smooth the channels for interest appeals, take the initiative to release information, respond to social concerns, build consensus on reform, and create a good public opinion environment. For major decisions in reform, it is necessary to carry out social stability threat and risk assessments, improve emergency plans, prevent and resolve various contradictions, and maintain social stability.

??????????????????????????????????????????????????????????? ? ??? 　　General Office of the State Council

　???????????????????????????????????????????????????????? ????????　July 26, 2016

　　(This article is published publicly.)

Author | Cloud

"Besides NIO owners, who else would buy it?"

"Is it unreasonable for a brand that has just entered the mobile phone industry to sell for 6,899 yuan?"

"Is it meaningful to customize a mobile phone specifically for a car?"

As a car brand that continues to lose money and has not yet shown any signs of profitability, NIO’s mobile phone production is not news, but it has never been optimistic.

On September 21, after the official launch of NIO Phone, founder Li Bin was once again labeled as "not doing his job properly". He mentioned in an interview after the press conference that NIO’s mobile phone business team has as many as 500 people and invests 500 million yuan annually. The outside world’s skepticism about NIO’s business has reached its peak.

But NIO’s phone was robbed crazy by the owner. According to NIO co-founder and president Qin Lihong at the press conference,At present, the NIO mobile phone has been sold out without three-party channels, and the order is scheduled for December.

At least in the small circle of less than 400,000 NIO owners, the popularity of NIO Phone is not inferior to this year’s iPhone 15 series.

Obviously, making a mobile phone is another decision made by NIO after insisting on changing the battery and insisting on being a community. The outside world cannot understand it, and the car owner loves it.

Entertainment Capital

, like 5

At the industry level, the "necessity" of car companies to make mobile phones has also been verified to a certain extent. Just before the Huawei conference that just topped the chart, Tan Benhong, chairperson and CEO of Avita Technology, also said on Weibo "spoiler" that Huawei and Avita jointly created Mate 60 Pro Avita Special Edition "is advancing rapidly".

Although Avita is a new car brand cooperated by Huawei, Ningde Times, and Changan Automobile, and "driver interconnection" is also Huawei’s strength, the trend of "making mobile phones for cars" has obviously been set off by NIO.

Zhang Junyi, a former managing partner of NIO Capital and a managing partner of Oliver Wyman, said:

"Li Bin’s work is good from a strategic perspective, but the matching of timing and funding is a matter of opinion, just like insisting on the power exchange model, the heavy operation of user companies, and the lack of investment in research and development. There are also many controversies, but the management of NIO still insists on doing it, and the user feedback is also very good."

What NIO and Li Bin do is often referred to as "business religion" – products and services are strongly bound, users are recruited with ideas, and users spontaneously expand.And is making a mobile phone a part of the realization of "doctrine" and the self-improvement of users, or is it a real and valuable enterprise decision?

The answer to this question lies in the hands of NIO’s owners.

NIO owner: You can buy it, it’s not too expensive

The biggest doubt about NIO’s mobile phones is that mobile phones are an industry where the annual shipments of mainstream brands are tens of millions, and the total number of NIO users is less than 400,000, of which 60% use iPhone – an ecological closed but complete product that is difficult to replace.

As a consultant in the new energy industry who owns Tesla, NIO, Ideal, Polaris, Volkswagen, and many other brands of electric vehicle products, and has worked in four car companies, Yiran was invited to participate in the NIO conference on September 21 and was one of the first contacts of NIO Phone.

At the same time, he is also one iPhone 60% of users, "For many users who already hold iPhone and Android, it may be easier to accept NIO phones, but I have only owned one phone for many years, and I am not willing to spend too much time managing the phone. So the process of NIO Phone becoming the second machine also needs to be adapted."

The reason why NIO’s NIO Phone is called the "Deluxe Edition Car Key" is because it enhances the experience unlike ordinary mobile phones, mainly focusing on the "UWB chip" and "SkyOS Tianshu" operating system standard on its new generation models.

Owners who use NIO Phone can unlock the vehicle more conveniently, stably and safely than other mobile phones, accurately locate the heating and ventilation massage control of each seat, and realize functions such as mobile phone doppelganger and application relay on the car. In addition, NIO also sets a separate vehicle control physical button for NIO Phone, which can call out the car control interface with one click.

Although most of the above features can be implemented by apps, using a NIO Phone is faster and smoother.

Although Yiran praised these features that NIO Phone can provide, he also made it clear that the biggest challenge for NIO to do mobile phone business lies in"Changing users’ past habits."…

For example, in actual use, the NIO App has not even solved the problem of dual end point login. If "dual users" log in to the brand account on the NIO Phone, the account of their original device will be offline, which is not friendly for users who have just started using dual phones.

For core community users who know NIO as well as Yiran, buying a NIO Phone is almost a "painless decision."

It can be seen in the NIO App that the user needs 4,900 yuan to make NIO’s intelligent assistant "NOMI" have a movable entity, another in-car AR product set "N-Box Enhanced Entertainment Host" is worth 4,600 yuan, and the "Moon Theme" kit of the "Blackened" Logo is priced at 4,500 yuan…

In the product series of this "high-end brand", the mobile phone priced at 6,499 yuan is a highly technical and cost-effective product.

A few years ago, when Luo Yonghao was still making mobile phones, he once expressed the opinion that "domestic mobile phones are all assembled except Huawei". Li Bin also said similar words at the press conference, but was pointed out by some users who paid attention to the "machine circle". It is also an indisputable fact that the vast majority of mobile phone brands follow the R & D rhythm of core component manufacturers such as Qualcomm and MediaTek to release products.

Zhang Junyi said that most mobile phone companies do not control the whole process by themselves, but the expectations of NIO users for NIO Phone are a "NIO phone", not a "NIO joint Android phone", although the first generation of mobile phones may not be sound and complete, but also reflects some of Li Bin’s ideas in user experience and technological innovation.

As a "super atypical NIO owner" – due to frequent business trips, the annual driving mileage of NIO is only more than 100 kilometers. Zhang Junyi has a stronger sense of the owner’s rights and ecological experience provided by NIO. "I believe that many people will choose NIO Phone based on ecology." Similarly, when Huawei and Porsche designed a joint name, many users who purchased related products were not Porsche owners, but they were also inspired by brand power to place orders.

In his opinion, as a portable social tool, the current pricing of NIO Phone is not "thrilling", and the mobile phone can also be used as a wearable device – such as the bracelet mentioned by management at the press conference, and the central existence of AR glasses that have been "in the car", "this is an ecosystem".

Due to the high-end brand positioning, many of NIO’s core users, like Yiran and Zhang Junyi, see things more from an "ecological" perspective and are less sensitive to price. Therefore, they have a smoother acceptance of NIO Phone.

But for the "silent majority" and some "swing users", "wait and see" is normal. Holding a Huawei Mate 40 Pro, the big reason (pseudonym) for the NIO brand has always maintained a "distant" relationship:

Does not care about the brand conference, the information update mainly from the owner group Fellow (service specialist), but recognized the service value of NIO, two years ago purchased the most top NIO models – plus "worry-free service" and "worry-free insurance" NIO ES8, priced at more than 600,000 yuan, when his other option is not yet domestic BMW X5, priced at about 700,000 yuan.

Da Zai is a representative of another type of car owner of NIO. They are "early adopter pioneer users" in second-tier cities, but they are not as strongly bound to the brand as NIO core users and are keen to recommend NIO to people around them. One of his friends was recommended by him to buy the NIO ES6, but in the end, because he was not used to the tram, he was persuaded to return to the oil car by battery life anxiety. Da Zai said:

"I feel okay with the car, the power change is very good, and I’m not worried about NIO going out of business, but I won’t recommend it to my friends again. As for the phone, I’ll consider it."

NIO is also "performance maximization through business collaboration", will Li Bin become the next Jia Yueting?

When it comes to NIO’s mobile phone layout, Zhang Junyi and Yiran both mentioned "ecology" and "security".

At present, there are three models of "Driver Connect".

One is the "Huawei Smart Choice" model:

Huawei does not directly build cars, but enters the "light asset" in charge of car design, research and development, and manages production to a certain extent. The Huawei Wenjie brand is a product of this model. The Wenjie model directly adopts the "Hongmeng" car machine, which can be highly interconnected with Huawei mobile phones. Avita, which belongs to the "HI (Huawei Inside) model", can also obtain similar capabilities and will launch a customized version of the mobile phone.

The second is the "Geely-Star Meizu" mode:

Geely Group through the acquisition of Meizu brand, using its mobile phone research and development capabilities to upgrade the car machine to empower, according to user and media feedback, the former car machine system has been greatly improved after Meizu intervention, Meizu mobile phone and Geely’s Lynk and Krypton brand interaction, has also approached the level of Huawei Hongmeng system.

The third is the "Driver in One" mode pioneered by NIO:

The mobile phone is completely led by the car OEM, and the brand is also consistent, so that the mobile phone can be customized to meet the needs of the intelligent car. It is foreseeable that if Xiaomi succeeds in building a car, MIUI will also realize the deep interaction between the car and the mobile phone. As the author of "Musk the Martian", Yiran said that Tesla is also likely to promote its own mobile phone business. At that time, Musk will further open up the content platform (X), portable smart end point and smart car end point, as well as the software ecosystem of Unicom.

But before these players who have landed or "seem reliable", LeTV was the first to come up with a "performance maximization through business collaboration" plan, and at the same time promote various smart end points and car manufacturing businesses. Therefore, after NIO’s decision to make mobile phones came out, there have been voices linking Li Bin with Jia Yueting, who has never returned to China.

But Li Bin himself obviously does not agree with such a judgment. After the press conference, he not only mentioned that the threshold for mobile phones is "not that high", but also regarded mobile phones as an easier business than cars. In short, NIO’s mobile phone is "high and low".

According to Yiran, NIO has discussed cooperation with some mainstream mobile phone manufacturers. But both sides have very important considerations for user experience, data security and channel interests, and it is difficult to coordinate. In the end, NIO decided to do it himself.

Specifically, at the executive level, NIO recruited Meitu Mobile Phone President Yin Shuijun and a group of executives under his command, and established a mobile phone team of about 500 people, investing 500 million yuan annually to share R & D resources with the car and machine.

In his opinion, the higher the brand positioning, the more stringent the user’s requirements for data security and user privacy will be, but a smooth experience requires data to get through, so NIO must be the safest to do it by itself."Of course, NIO’s mobile phone user scale is only a few tens of thousands of people, this business is destined to lose money, equal to the user experience blood transfusion."

Zhang Junyi, who had in-depth communication with Li Bin in the early days of NIO’s startup, mentioned that even though there are not many users of the brand at present, Li Bin, as an entrepreneur who studied sociology, "has an ideal social practice" – he hopes to use good service to attract customers, so that existing customers can influence and attract new customers. "This is the original intention of NIO that has not changed. They are dedicated to doing good for users, impressing users with sincerity and care, and forming a positive energy community."

It is worth mentioning that, despite the extensive discussion on the NIO Phone, the press conference on September 21 was not dedicated to this "water testing" product, but a conference that comprehensively introduced the research results of NIO technology and was named "NIO IN".

Hoping to promote the inherent and R & D strength of the NIO brand to users, NIO’s self-developed lidar main control chip "Yang Jian" was also launched, which is another product of NIO’s "From 0 to 1".

It is understood that there are many voices inside and outside NIO suggesting that brands should communicate and tell stories at the technical level to "justify" the high R & D expenses in the financial report – they are spent on self-developed motors, batteries, chips and many other core components. If successful, it will build a deeper moat for the brand and help NIO cope with the "knockout" of the new energy market in the next decade.

Conclusion: After mobile phones, car companies have to sell cars

NIO is the target of many new car brands.

Geely’s polar krypton brand almost replicates NIO in marketing and user operation, and also uses a lot of NIO talents; other brands cannot avoid NIO’s methodology when doing community and service; China’s power exchange system, starting from NIO, currently SAIC, BYD and other large groups are also trying to join.

But for the time being, no car company will fully apply the "NIO solution", and the reason is also very simple:

As an independent car company, it has been in business for ten years and has sold nearly 400,000 cars, but there is no sign of profitability, and there are often "religious brand communication" that "I don’t understand it outside the circle, but I love it inside the circle". Public opinion is polarized.

Compared with the ideal, NIO’s sales are climbing too slowly. The "throne" that used to be the "highest-end new energy brand" is almost untenable after the launch of BYD’s "Look Up" brand. The service system that once made NIO proud has also deteriorated in the process of further user growth.

Li Bin mentioned several times before and after the press conference that although business expansion is within control, NIO’s organizational and management capabilities do have shortcomings that need to be filled.

A NIO internal staff responsible for technology-related work said that for the mobile phone business, he held a "unclear and uncertain" state, and he was noncommittal about Li Bin’s decision to invest heavily in mobile phones because it was too far from his work.

He Xiaopeng once asked someone to give Li Bin a message, advising him to invest cautiously and spend cautiously. The former "learned from the pain" after the pricing turmoil of G9, revolutionized the organizational structure, reduced the price of the product, and the sales volume recovered immediately. Only then did the advantages of intelligent driving technology that had been heavily invested in really begin to take effect.

However, people who are familiar with Li Bin and care about NIO often highly appreciate the founder’s strategic vision, which is in sharp contrast to the lack of understanding from the outside world and the unattractive figures on the financial report.

Perhaps, the distance from strategy to tactics, from thinking to landing, is the distance between the vision of the NIO brand and the reality of making money back. The NIO Phone will not crush NIO, but it will not make NIO "one step to the sky."

Qin Lihong once said that NIO’s current heavy investment is "paying tuition fees", but in China, "getting grades" is sometimes more important than "having a process". In addition to "ecology", another consensus between Yiran and Zhang Junyi is:

Selling more cars is the most important thing for NIO.

　　"First set a small goal that can be achieved, for example, I will earn 100 million yuan first." Recently, Wang Jianlin’s public remarks have been widely circulated among the general public, and many people have made fun of themselves.

　　Although Wang Jianlin’s remarks have their context, which can make the sentence seem less abrupt. But the "Matthew Effect" behind this sentence reflects the "Matthew Effect" of China’s class solidification and the rich getting richer will continue to play out in the future.

　　First of all, from the perspective of Wang Jianlin, as the richest man in China in 2015, he will earn 100 million as a "small goal", which is confident: Statistics show that Wanda Group’s income in the first half of 2016 was 119.93 billion yuan (Wanda general merchandise is Wang Jianlin’s personal company, and the income is not included in Wanda Group), which means that Wanda Group’s daily operating income is about 6 billion yuan. The class A share listed company Wanda Cinema had an operating income of 5.722 billion yuan and a net profit of 805 million yuan in the first half.

　　As one of the largest real estate-oriented integrated enterprises in China, Wanda Group’s profit-making effect is highlighted under the advantages of industry and scale. However, for most small and medium-sized enterprises, and even many class A share listed companies, under the trend of China’s economy gradually entering low growth, life is not so good.

　　Taking the 2015 annual report of listed companies as an example, there are more than 300 15 million profits within one year, more than 10% of the total number of listed companies. What is the concept of 15 million? You can only buy a real estate in the main urban area of Beijing, Shanghai and Shenzhen. If you look at non-listed small and medium-sized enterprises, the situation may not be so good. In the past few years, foreign trade enterprises in coastal areas have closed down one after another due to the slowdown in exports. Since last year, due to the skyrocketing housing prices in hot cities, many manufacturing enterprises have been squeezed out. It can be said that with the increasing downward pressure on China’s economy in recent years, the days of Chinese enterprises, especially the manufacturing industry, have not been easy. Recently, there have even been many owners of manufacturing enterprises in Shenzhen and Dongguan. When the enterprises encountered difficulties, they lamented that they should have bought

　　Correspondingly, the new loans of enterprises shrank sharply in July this year. Among the 463.60 billion yuan of new RMB loans in the Financial Institution Group in July, corporate loans did not increase, but decreased by 2.60 billion yuan, a sharp decrease of 611.40 billion yuan month-on-month. This is only the second time in history that new loans of enterprises are negative. The last time was in July 2005 ten years ago.

　　Without a doubt, this shows that the real economy is withering, enterprises are reluctant to lend, and profitability and solvency are quite difficult. The marketization of the financial system determines their inevitable choice. Either the enterprise dies or they voluntarily close the enterprise, and the demand for funds falls off a cliff. Once confidence collapses, even if the banks are willing to lend, the enterprises are not willing to take it.

　　At the same time, companies with deep pockets such as Baoneng and Hengda are snapping up equity and capital operations everywhere, and every carnival of financial assets has benefited them a lot.

　　The strong and the weak are the epitome of the current Chinese economy. At the same time, the widening wealth and resource differentiation between the rich and the general class reflects the increasing solidification of the Chinese class.

　　Wanda’s huge annual income has inflated the wealth of Wang Jianlin and his son, and a similar situation is also reflected in other wealthy people. According to statistics, the number of billionaires in China is as high as 67,000, surpassing the United States in the global rich list and making it the country with the most billionaires in the world.

　　At this time, in 2015, the per capita disposable income of Chinese residents was only 21,966 yuan, and the per capita GDP was only 50,000 yuan. In addition, according to the National Bureau of Statistics, China’s social Gini coefficient was 0.462 in 2015, while the internationally recognized gap between the rich and the poor was 0.4 (the Gini coefficient is an important indicator used internationally to measure the difference in income distribution between residents. Only about 10% of countries in the world exceed 0.5, and the Gini coefficient in developed countries is generally between 0.24 and 0.36).

　　In addition, in recent years, with the increasing downward pressure on the Chinese economy and the continuous release of liquidity by the central bank, the RMB has been weakening, and the depreciation pressure is not small. At this time, the rich class of high net worth can protect themselves from the impact of exchange rate and other risk factors through overseas asset allocation; but the low net worth people, that is, the "poor", seem to have little protection against risk factors such as currency devaluation.

　　In terms of domestic investment channels, the public can only choose stocks, bank wealth management and other channels, so the valuation of class A shares has been high, while bank deposits and wealth management products are completely "wedding clothes" for the wealth appreciation of the rich, because a large number of bank wealth management funds flow to financial marekt structured products.

　　Yan Hao, the son of Yan Jiehe, an entrepreneur who was once China’s richest man, said recently that China has now bid farewell to the era of "sudden wealth". Indeed, as economic growth gradually stabilizes and all industries and fields are touched, "sudden wealth" situations are difficult to occur as frequently as in the decades before the reform and opening up, which is also a characteristic of the country entering a mature stage.

　　However, there is something else to be said about Yan Hao’s words: the current poor are less likely to become rich in the future. It is difficult to predict to what extent, but if a person can no longer live a relatively satisfactory life by virtue of knowledge and hard work, and the theory that school is useless, struggle is useless, and "fighting father" is king are frequently verified, then the negative effects of class solidification will appear, and the consequences will be unimaginable, and they may even fall into the Latin American-style middle-income trap.

　　Class solidification, followed by a lack of vitality in China, which should be the vast majority of people do not want to see.

Many consumers think that the cost of buying a car plus the cost of maintaining a car every year is really a lot of money, but now taxi software is so popular that it is convenient and cheap to take a car, and it is not practical to buy a car. However, in bad weather such as cold or hot, carrying a heavy shopping bag or dragging a huge suitcase, or when the driver is in an emergency, he will feel the pain of waiting. Although cars are consumables, and even the rate of preservation is not high, there is no denying that owning a car of your own can really bring great convenience to life, such as going to go on road trip.

Today, we will take a look at the new car BYD Qin PLUS DM-i, including the design, rough interior, high and low performance, etc. Presumably, small owners have dived into major forums and dug countless evaluation videos, so there is no need to go into details in small series. Now, our focus is on the transaction price, discount, sales volume and value preservation of Qin PLUS DM-i, so as to help small owners who are basically targeting and waiting for the opportunity to start more comprehensively.

BYD Qin PLUS DM-i achieved a maximum discount of 95,900% on the transaction price in the past month, with the highest cash drop of RMB 4,800, and the national sales of new cars starting from RMB 125,900. The point price is for reference only, and the actual transaction price is subject to the local dealer.

The figure below shows the sales data of BYD Qin Plus DM-I. The national sales volume in the last month was 13,443 vehicles. I wonder if BYD is still satisfied with this achievement. Most people will follow the sales volume when buying a car, which is the main basis for most people to judge whether a car is good or not without in-depth understanding of a car. Although it is not accurate, it is not groundless, but if you have higher requirements for car selection, you need to make more efforts to fully understand it.

When we buy a car, we will pay attention to all aspects of this model in advance, especially the posts and word-of-mouth posted by car owners in major forums and vertical websites. Apart from the navy, there are still some car owners’ real car experience that is worth learning. Let’s take a look at the word-of-mouth score of BYD Qin plus DM-I. The comprehensive score of BYD Qin PLUS DM-i is 4.75, and the result is not bad, so BYD Qin PLUS DM-i can be considered.

If you have seen the above, you still have doubts about whether BYD Qin PLUS DM-i is worth buying, then you can also look at the performance of competing products of BYD Qin Plus DM-I. Among the following competing products, the Roewe ei6 MAX sold the most last month, with 662 cars. There is always one car for you.

If the price of Qin PLUS DM-i is suitable recently, then friends will hurry! Linkage promotion in many places across the country, and there are even more discount models as low as 30%.