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Tesla has put into production at the Shanghai factory, and the domestic Model 3 not only enjoys subsidies for new energy vehicles and is exempt from purchase tax, but also the official price has been lowered to less than 300000 yuan due to the drop in cost, further lowering the price threshold. Tesla price reduction hit, so that China's new power electric car companies have been caught in the market trough to face greater competitive pressure.

In response to the price reduction of domestic Tesla, Li Bin, chairman of Lulai Automobile, said at the China Electric vehicle 100 Forum a few days ago, "We will not reduce the price of Tesla. We all have a negative gross profit and there is no room for price reduction." Li Bin added that although NIO will not cut prices, it will make the service better.

At present, the volume of the vehicle is ES6, and the price of the lowest configuration model is 358000 yuan, 338000 yuan after subsidy, and the mileage of NEDC comprehensive operating mode is 429km. By comparison, the price of the standard upgrade version of the domestic Model 3 is 299050 yuan, and the mileage of NEDC under comprehensive operating conditions is 445km. Therefore, the price difference between the two is about 40,000 yuan.

Even so, Li Bin is optimistic, saying that Lai has sold in 297 cities and has withstood two winters. Under the pressure of subsidies, it sold only 800 cars in July last year, but began to rise in August. Achieve five consecutive increases.

Data show that in December, Xilai delivered 3170 vehicles, an increase of 25.4 percent over the previous month, and a total of 20565 vehicles were delivered for the whole year, leading the delivery of the new power brand.

Li Bin said that at present, NIO has made a breakthrough in volume and brand, ranking among the top 10 in the 300000 yuan SUV level, with an average price of 400000 yuan.

Li Bin believes that smart cars are an upward sign of Chinese car brands, especially intelligence is the core competitiveness of products. According to NIO statistics, 60% of ES8 and ES6 self-driving aids have been activated, and frequent users have a cumulative time of 50 hours a month. On the other hand, Li Bin said that the input of full-scene power-up experience is another core competitiveness, supporting users to run happily, and the cumulative investment of nearly 3 billion RMB for power exchange in NIO, and a good experience is a good foundation.

According to the financial report, the total income of NIO in the third quarter was 1.837 billion yuan, an increase of 21.8% from the previous month and 25.0% from the same period last year, but the net loss reached 2.451 billion yuan. In the earnings call, NIO said that at present, in terms of funds, the 200 million US dollars of convertible bonds previously announced by NIO from Tencent and Li Bin have been nearly completed.

Under the financial difficulties, Wei Lai takes measures to reduce costs and increase efficiency. Li Bin admitted that in the previous period of time, he mainly focused on expanding the size of the company, while neglecting to improve and refine the management level of the company, and said that on the one hand, Ulai will strive to retain core talents, but on the other hand, it will also optimize the personnel structure and limit the original number of nearly 10,000 employees to about 7500.

At the NIO Day 2019 launch in December, the third production car, EC6, was officially unveiled. The price of the new car will be announced in July 2020 and delivery will begin in September 2020. The new car is positioned as a medium-sized SUV with a battery pack of 100kWh and has a maximum range of 615km. It will compete with Tesla Model Y.

As the two most topical electric car companies, it remains to be seen who is more attracted by the market by Tesla's reduced price sales and NIO's babysitting service.

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