AutoBeta(AutoBeta.net)02/23 Report--

On February 22, Li Xiang, CEO of Ideal Automobile, issued an internal letter clearly stating that the strategic goal of Ideal Automobile in 2025 is to obtain 20% market share and become the first intelligent electric vehicle enterprise in China. Li Xiang said in an internal letter that China is expected to sell more than 8 million smart electric vehicles by 2025, and gaining more than 20% of the market share is a necessary condition for becoming a Chinese head company.

Li Xiang's prediction was not groundless. According to the "On Printing and Distributing the Development Plan of New Energy Automobile Industry (2021-2035)" issued by the General Office of the State Council, it is pointed out that in 2025, the competitiveness of China's new energy automobile market will be obviously enhanced, and the sales volume of new energy vehicles will reach about 20% of the total sales volume of new vehicles. In addition, Zhang Hong, secretary-general of New Energy Branch of China Automobile Circulation Association, has publicly said that after the epidemic situation, the new energy market will inevitably gradually warm up, and it is expected that the sales volume of new energy vehicles in China will reach 8 million in 2025.

The ideal car aims to capture 20% of the market by 2025, and at a projected sales of 8 million units, the ideal car aims to sell 1.6 million units by 2025. According to the data, the cumulative delivery volume of ideal vehicles in 2020 is 32624, second only to NIO. Based on 30,000 vehicles, even if the sales volume of ideal cars doubles every year, the sales volume by 2025 will only be 960,000 (60,000 in 2021, 120,000 in 2022, 240,000 in 2023, 480,000 in 2024 and 960,000 in 2025), which is still far from 1.6 million. That is to say, the ideal to achieve this goal requires sustained high growth, for the current ideal ONE model, the ideal car this goal is still very stressful.

To achieve this goal, it is obviously impossible to rely on the ideal ONE model alone. Therefore, Li wants to say in the internal letter that more abundant intelligent electric vehicles will be provided in the future, including a variety of products of the second generation extended range electric X platform, a variety of products of high-voltage pure electric Whale platform and a variety of products of high-voltage pure electric Shark platform, covering the price range of 150,000 - 500,000 yuan.

According to the previous exposure product planning on the network, the ideal car will launch X series and S series new cars based on the LRM2.0 platform. Among them, the platform based on LRM2.0 will launch four models: X01 is positioned as a large 6-seat SUV with a price range of 350,000 - 500,000 yuan, against the standard Mercedes-Benz GLS; X02 is positioned in a medium and large 6-seat SUV with a price range of 300,000 - 400,000 yuan, against the standard Mercedes-Benz GLE; S01 is positioned in a medium and large 6-seat SUV with a price range of 250,000 - 350,000 yuan, against Tesla Model X; S02 is positioned in a medium 5-seat SUV with a price range of 200,000 - 300,000 yuan, against Tesla Model Y. Earlier, Li Xiang said on a conference call that the second vehicle, code-named X01, is scheduled to be launched in the fourth quarter of 2022.

The development of a completely new model means that a lot of money is needed. According to the financial report, by the end of the third quarter of 2020, the ideal car cash reserve reached 18.916 billion yuan. However, there has been little announcement of financing since the IPO, and Hillhouse Capital has reduced its stake in the ideal car.

In addition, the chip crisis may also lead to an impact on ideal car production capacity. At present, many car companies around the world have to cut production or stop production due to "lack of core". As one of the representatives of the electric vehicle industry, the supply of chips is equally important for ideal cars, but the ideal does not seem to worry about it.

If the ideal car wants to achieve 20% market share in 2025, it needs to speed up the launch of products, ensure the quality of products, and at the same time need sufficient financial support. However, from the current automobile market, it seems that it is not as optimistic as imagined. Under the influence of epidemic situation and natural reasons, the supply of chips and the supply of power batteries put a question mark on the goal of ideal car.

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