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In an interview with the media, the managing partner of Lai Capital said that with the sharp decline in 2019 subsidies, the new energy vehicle industry will face a reshuffle, but more than 300000 of high-end cars will be better developed, and high-end consumers will be less sensitive to price. and pay more attention to high-end experience and brand sense.

After the Shanghai office of Lulai Capital and the Yiou Intelligent Network Alliance Automotive Industry Innovation Summit, Zhu Yan, Zhang Junyi and Yu Ning, management partners of Lulai Capital, accepted an exclusive interview with China Finance and Economics to express their views on the new energy automobile industry.

I still remember that in March, Zhang Wei, chairman of Cornerstone Capital, issued a long article detailing the current situation and future of the new power of car-building in China. Zhang Wei said bluntly, "2019 will be the closing year of the new power of car-building, and there are no more than 100 enterprises worth investing in."

Now Zhang Junyi says he doesn't agree with this view. He thinks that the automobile industry is an industry with a large amount of capital and not a product for life. It requires new enterprises to have the ability of sustainable development. Only if they can come up with three successful model enterprises in a row will it be possible to survive. "the industry has gone from competition to survival. In recent years, many car companies will die out, not whether they are traditional enterprises or new enterprises. It mainly depends on the self-development ability and follow-up sales of these enterprises. "

In addition, Yu Ning believes that subsidized downslope will also accelerate the reshuffle of the industry, but high-end car companies that manufacture more than 300000 will get better development because high-end consumers are less price-sensitive and pay more attention to high-end experience and brand sense. Yu Ning judged that when the subsidy completely receded, the battery price basically completed a substantial price reduction, the new energy vehicle market will face a relatively stable competitive environment, and the subsidy decline will also cause a life-and-death test for many emerging car companies.

Zhu Yan published the method of self-driving, "self-driving is a cross-border combination, but the technology circle has its own development speed and rhythm, and the car circle has its own partners for many years, whether it is corporate culture." or work mode, development cycle, the two circles have very essential differences, how to change themselves to cater to each other's development cycle, is a very difficult thing. "

It can be said that "burning money" is a necessary way for the new power of car building, and NIO is no exception. According to the annual report released by Lulai, which sold more than 10, 000 cars in 2018, the net loss of Lulai, which sold more than 10, 000 cars in 2018, was 9.3 billion yuan, an increase of 91% over the same period last year. The cumulative loss in the three years from 2016 to 2018 has reached 17.23 billion yuan. In terms of delivery volume, the total delivery volume of ES8 reached 15337, of which 3989 were delivered in the first quarter of this year, down 50 per cent from the previous month.

Since "burning money" is inevitable, companies can only make up for this capital hole through continuous financing. In addition, another problem faced by the new power of car building is the subsidy slope.

On March 26th, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the Development and Reform Commission jointly issued the Circular on further improving the Financial subsidy Policy for the Popularization and Application of New Energy vehicles. In the new policy, the subsidy for models under 250km will be eliminated. 250 ≤ R

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