AutoBeta(AutoBeta.net)05/11 Report--

On the evening of May 10, ideal Motor announced its first-quarter results. The report shows that during the reporting period, ideal car achieved revenue of 9.56 billion yuan, an increase of 167.5 percent over the same period last year, and a net loss of 10.9 million yuan, down 97.0 percent from the same period last year. In the new power camp of car building, the gross profit margin of 22.4% of ideal cars remains high, basically the same as that of 22.3% in the same period.

In terms of sales volume, the ideal ONE delivery volume in the first quarter was 31716 vehicles, an increase of 152.1% over the same period last year. According to the previous sales list of car response concerns, the performance of ideal car is second only to Xiaopeng Motor, with the cumulative delivery volume of Xiaopeng car increasing by 159.1% to 34561 vehicles in the first quarter compared with the same period last year, while Xilai's cumulative delivery increased by 28.5% to 25768 vehicles.

Although the performance of ideal car in the first quarter is OK, due to the impact of the epidemic and the supply chain, the performance of ideal car in the second quarter is uncertain. According to the data, the delivery volume of ideal cars was 4167 in April, down 62.2% from the previous month and an increase of 24.8% over the same period last year, ranking the lowest among new power brands. Shen Yanan, co-founder and president of ideal Automobile, said, "more than 80% of the parts suppliers of ideal cars are located in the Yangtze River Delta region, and a large part of them are located in Shanghai and Kunshan, Jiangsu Province. Some suppliers are unable to supply them. Some suppliers even stop work or operation completely, making it impossible to maintain production after the existing parts inventory has been digested." For the second quarter performance, ideal car delivery is expected to be 21000-24000 vehicles, down 24.3% Mel 33.8% month-on-month, total revenue is expected to be 6.16 billion yuan, down 26.4% Mel 35.6% from the previous month. Shen Yanan said on a conference call, "the second-quarter performance guidelines are based on the current alleviated epidemic situation in the Yangtze River Delta region, but the difficulties are still so serious that many suppliers are unable to return to work and production quickly."

In addition to the impact of spare parts supply, ideal cars will also face capacity problems. At present, only the ideal automobile production base in Changzhou, Jiangsu Province is in production, with an annual production capacity of 100000 vehicles, with an average monthly production capacity of less than 10,000 vehicles, but since November 2021, the monthly delivery volume of ideal cars has basically been more than 8000. Among them, the delivery volume of November 2021, December 2021, January 2022 and March 2022 are all more than 10,000, and the Changzhou production base is based on full load or even overload production. At present, the Changzhou production base is carrying out the second phase production line expansion, after the expansion, the annual production capacity of the plant will reach 200000 vehicles. At the same time, the green intelligent manufacturing base in Shunyi, Beijing, will achieve an annual production capacity of 100000 pure electric vehicles, but it will not be put into production until 2023, while the Chongqing production base is not expected to be officially completed until 2025.

Li Xiang said in an internal letter that more than 8 million smart electric vehicles are expected to be sold in China in 2025. The goal of ideal car is to gain 20% market share by 2025 and become the number one smart electric vehicle company in China.

At present, ideal Automobile has only one model of ideal ONE on sale, and the product camp is single. According to the plan, the ideal L9, the second model of the ideal car, will be delivered in the third quarter, and the new car will be located in a large SUV, which will be driven by an add-on like the ideal ONE, and the expected price range is between 45 and 500000 yuan.

On the conference call, ideal Motor founder Li Xiang also revealed the ideal car's product plans by 2025. Li Xiang said that every 100000 price range will launch a popular product, including add program and pure electric, the product plan is very similar to Apple iPhone, different products at different prices, precisely meet different consumer needs. Li would like to disclose, "our starting point is relatively good, the ideal ONE is in the range of 30 to 400000 yuan." We can either hit the range of 40 to 500000 yuan in the previous step or explore the price range of 20 to 300000 yuan in the next step. Next year, ideal will launch three products, including a new generation of extended range flagship products, new BEV high-pressure platform products, as well as next year's first 20 to 300000 medium-sized cars. "

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