AutoBeta(AutoBeta.net)02/25 Report--

On February 25th, the domestic new power brand ideal Automobile released its financial results for the fourth quarter and the whole year of 2021. The results show that ideal Automobile achieved revenue of 10.62 billion yuan (RMB) in the fourth quarter, an increase of 156.1% over 4.15 billion yuan in the same period last year. Net profit was 295.5 million yuan, an increase of 174.9% over 107.5 million yuan in the same period last year. Ideal Automobile posted a net loss of 321.5 million yuan in fiscal year 2021, an increase of 111.9 percent over the net loss of 151.7 million yuan in fiscal 2020.

Financial data of ideal car in 2021

In terms of new car delivery, ideal cars delivered a total of 35221 ideal ONE in the fourth quarter, an increase of 143.5% over the same period last year. In fiscal year 2021, 90491 ideal ONE were delivered, an increase of 177.4% from 32624 in 2020.

In addition to the results, ideal Motors also confirmed a personnel change today after news of the imminent departure of Wang Kai, CTO of ideal Motors. At the same time of the release of the results, ideal Motors also officially confirmed that Wang Kai had resigned as Chief Technology Officer of ideal Automobile for personal reasons. Ma Donghui, the chief engineer, will be responsible for the research and development of intelligent automobile related technology of ideal car. According to the data, Wang Kai joined ideal Automobile in September 2020 and served as the CTO position of the company for only 17 months. Wang Kai will continue to serve as the company's senior consultant until December 31, 2022 to ensure a smooth transition. As of December 31, 2021, ideal has a total of 11901 employees.

According to public data, ideal car founder Li Xiang is a famous serial entrepreneur in China. He once founded the computer hardware website Bubble and Automobile Home, the most visited automobile website in the world. In July 2015, Li Xiang entered the car manufacturing company and created the ideal car. He became one of the three swordsmen of the new car building forces in China. The ideal car is headquartered in Beijing, formerly known as "car and Home". In March 2019, "car and Home" changed its name to "ideal car". Subsequently, the production qualification was obtained through the acquisition of Lifan passenger cars. The self-built factory is located in Changzhou, Jiangsu Province, with an annual production capacity of 100000 vehicles. In addition to Changzhou production base, in October 2021, ideal Automobile announced the formal construction of Beijing Green Intelligent Factory in Shunyi District, Beijing. at present, the plant is under expansion and is expected to be put into production at the end of next year. In addition, it is reported that in December last year, ideal Automobile signed a strategic cooperation framework agreement with the Chongqing municipal government to build a production base in Liangjiang New area. The base will become the third production base for ideal cars, but the news has yet to be verified.

On July 30, 2020, ideal Automobile was officially listed on the NASDAQ stock market under the symbol "LI". On August 12, 2021, ideal Motor is listed for trading on the main board of the Hong Kong Stock Exchange. As of today's close, ideal Motor Hong Kong shares closed up 4.78% to close at HK $109.5 per share, with a total market capitalization of HK $226.2 billion.

In terms of products, ideal Automobile released its first product, ideal ONE, in October 2018. On April 10, 2019, ideal ONE announced its price on the market. The car only provides a top-matching model with a subsidized price of 328000. It will be mass-produced in Changzhou, Jiangsu Province in November 2019. The ideal ONE is based on a four-wheel drive electric platform and is located in a medium and large SUV. It offers two layouts of 6 / 7 seats and has a body length of more than 5 meters. The car adopts an incremental power system, which is equipped with a 1.2T engine and three motors. the new car can generate electricity through fast charge, slow charge and refueling. It takes 30 minutes for 40kW DC fast charge and 6 hours for household 7kW slow charge.

On June 16, 2020, ideal ONE delivered 10, 000 vehicles; by December 18, 2020, the cumulative delivery volume of ideal ONE exceeded 30000, setting a record for the fastest delivery of the first model of the new car force. On May 25, 2021, 2021 ideal ONE models were officially launched, and the new car was upgraded in terms of configuration, with a price of 338000 yuan and 348000 yuan. At present, ideal Automobile has only ideal ONE. According to the statistics of the auto industry concerned about the past, in the annual sales list of New Power in 2021, Xiaopeng delivered a total of 98155 new cars in 2021, leading Xilai Automobile (9652 new cars in 2021) to win the annual sales, while ideal car delivered a total of 90491 new cars in 2021, ranking second on the annual sales list of New Power. In January this year, ideal car delivered a total of 12268 new cars, from the new power brand sales, the performance of ideal car is still slightly lower than Xiaopeng car. However, the ideal car relies on only one model, the ideal ONE, to deliver more than 10,000 cars in three consecutive months (13485 in November and 14087 in December 2021, respectively). In other words, the monthly delivery of the ideal car has surpassed that of the Ulay for three consecutive months since November 2021.

According to previous news, the ideal car will launch a second model, the X01, this year, which is based on the add-on X platform. According to the spy photos previously exposed, the overall size of the ideal X01 will be larger than the ideal ONE, close to the Mercedes-Benz GLS. In terms of specific body dimensions, the length, width and height of the new car are 5150/1980/1800mm, wheelbase 3100mm, positioning large SUV. In terms of power, the ideal X01 will adopt the second generation extended range platform, equipped with 1.5T four-cylinder turbocharged engine provided by Xinchen Power and Honeycomb Energy generator, the front and rear dual motor integrated power 330kw, peak torque 650N ·m, equipped with 1.5T four-cylinder Miller cycle booster. In terms of batteries, the new car will use a ternary lithium battery pack with a capacity of 44.5 kwhoren WLTC with a range of 155km for pure electricity and up to 800km in the case of full fuel. According to previous news, the ideal X01 will enter mass production as soon as April 2022, the release date is expected to be earlier than the mass production date, and the price is expected to be about 400000 yuan. In addition, by 2023, ideal will launch two more high-voltage pure electric vehicles, and at least two new pure electric vehicles will be launched every year.

On the sales side, for short-term sales in the first quarter of 2022, ideal says it expects to deliver 30000 to 32000 vehicles in the first quarter of 2022, while a longer-term sales target is 1.6 million by 2025.

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