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Li Bin: the probability of success in the high-end market is higher than that in the middle-and low-end market.

2024-11-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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Recently, at the 2021 Tsinghua Wudaokou Global Financial Forum, Li Bin, founder, chairman and CEO of Xilai, shared it by way of connection. From a positioning point of view, NIO is different from ordinary car companies in China. It has entered the high-end market as soon as it comes up, Li Bin said. Most Chinese companies choose to do it slowly from the bottom up, and we enter the mainstream high-end market as soon as we come up. This is not a simple emotional drive or simply set a high goal, this is a more rational idea.

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From the perspective of entrepreneurship: Li Bin believes that the success rate of building a high-end market is actually more competitive than that of a market of 100,000 cars. There are many reasons, including tax reasons, including the cost of batteries, and so on. There are also two main reasons. One is that the latest technology can be used. If the vehicles are too cheap, many new technologies cannot be used. Another reason is that traditional luxury brands in such a market as China, they actually do less innovation for the Chinese market, and generally speaking, their speed is definitely slower.

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Li Bin said that it was really difficult to choose such a path, or others thought it was arrogant. But from today's point of view, it benefits from this positioning. By the end of April this year, the three existing models of Lulai were all SUV, with 102803 delivered. The figures behind them are more meaningful. The average terminal sales price is 437000 yuan, which is higher than that of BMW and Audi, and 13 or 140000 yuan higher than the average unit price of Tesla. In fact, NIO has successfully gained a foothold in the mainstream high-end market, can not say "stand firm", can only be said to squeeze in. In the field of electric vehicles, if you look at a high-end positioning, do not look at model3, modelY positioning, look at model X positioning, they delivered about 18000 units in the fourth quarter of last year, 17000 units in a Chinese market, and Q1 delivered 20, 000 units in a Chinese market this year. In fact, all other high-end brands of electric vehicles add up to a large quantity.

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In an interview with the media earlier, Li Bin also clearly expressed the goal of NIO, and his plan is to seize more BBA market share in five years or more, hoping that one day "one third of the world will have one." Although the market capitalization of NIO is now higher than that of Daimler and BMW, most consumers believe that there is still a big gap between NIO and BBA. According to the annual sales of first-tier luxury brand BBA in 2020, all three car companies sold more than 700000 vehicles, which is 16 times the sales volume of Lulai. However, if Ulai is growing at more than 100 per cent a year, it will reach nearly 700000 of sales within five years.

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According to the results of the first quarter of 2021 released by Xilai earlier, operating income reached 7.98 billion yuan during the reporting period, an increase of 481.8% over the same period last year, while the net loss of common shareholders belonging to the parent company was 4.875 billion yuan, down 182.96% from the same period last year. According to its sales data, the cumulative delivery volume of Xilai in the first quarter was 20060, including 4518 for ES8, 8088 for ES6 and 7456 for EC6.

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Although Xilai is no longer in a state of "losing one at a time", it is still losing money, which will mean that it still needs a lot of money to build cars. With the development of the automobile market, it is a major trend for electric vehicles to replace fuel vehicles, and whether Ulai Automobile, as a new force in car building, can seize the market share of BBA and achieve the goal of one-third of the world, it may still have a long way to go.

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