AutoBeta(AutoBeta.net)03/29 Report--

While the global automobile industry is still in a state of uncertain development, new energy vehicles in China are rising rapidly. According to the Federation of passengers, sales of new energy narrow passenger vehicles from January to February in 2021 were 252000, an increase of 367.1% over the same period last year.

China has become the largest country of new energy vehicles in the world, but in the process of rapid development, there are many bad developments, such as product safety, false propaganda, bubble economy and so on. On March 28, Xinhua News Agency published an article that publicly named a number of car companies, pointing out the hidden worries in the development of domestic new energy vehicles, including "product indicators, water injection and pot customers", "hundreds of billions of dollars in market value before enterprises have sold a car" and other problems have gradually become hidden worries restricting the further healthy development of the industry.

FAW-Volkswagen was named, and Maiteng GTE was accused of "grandiose" and "water injection". A Maiteng GTE owner reflected that the manufacturer declared that "56 km of pure electric mileage", "even if the vehicle is fully charged and automatically cut off, the dashboard shows that the pure electric mileage is only about 44 km", which is explained by the 4S store as "accurate range realized by the algorithm".

According to reports, in addition to the "water injection" of mileage, the main complaints about new energy vehicles in 2020 include: charging speed is not in line with publicity; battery quality problems are prominent; gearbox abnormal noise, setbacks and power loss and other problems; the level of after-sales service is not high. In response to issues such as mileage "water injection", Jin Lijuan, deputy secretary general of the Shenzhen Consumer Council, said that the next step will be to organize a "cruel test" of the mileage of mainstream new energy vehicles to ensure that mileage data are accurate and true.

Some car companies have frequent product failures but are accustomed to "throwing the pot" consumers, including ideal cars and Tesla. Xinhua News Agency pointed out that the ideal ONE broken shaft accident occurred many times last year, and the authorities first prevaricated with "hardware optimization and upgrading," and then admitted that there were design defects under public pressure. Tesla occurred a number of incidents of unprovoked acceleration of electric vehicles in China, but officials repeatedly blamed the cause on the owners. In January this year, a newly bought Tesla was suddenly unable to start when the power was cut off. Tesla unexpectedly said it was due to the large current overload of the State Grid.

Evergrande has also been named, and the vast new energy market has spawned PPT car companies that "build cars" on paper. As of the close of Hong Kong stocks on March 26, Evergrande's total market capitalization was 592.4 billion Hong Kong dollars (about 498.6 billion yuan, up 11.41% on the day, with a net increase of 34.1 billion yuan), while BYD's current market capitalization is 489.2 billion yuan. Evergrande's market capitalization has surpassed BYD to become the number one manufacturer in China. What is puzzling, however, is that Evergrande does not have a single mass-production car on sale. According to the official 2020 financial report, Evergrande achieved an operating income of 15.487 billion yuan in 2020, an increase of 175% over the same period last year, including 15.299 billion yuan for the health management division and 188 million yuan for the new energy vehicle division, and a gross profit of 2.695 billion yuan, a year-on-year increase of 43%. Last year's net loss was 7.665 billion yuan, up 54.94% from the same period last year. It is not difficult to see that more than 90% of Evergrande's revenue comes from the health business.

The rapid development of new energy vehicles at the same time, the accumulated rise of technology is greater than exaggeration, the central media has more than once exposed the market chaos. Prior to this, Xinhua News Agency published an article publicly naming several new energy companies, pointing out that "excessive propaganda" and hype in the new energy vehicle industry are looming, and some undesirable trends are worthy of vigilance. Xinhua News Agency said that less bragging and more practical work should stop the grandiose speculation style of new energy vehicles.

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