AutoBeta(AutoBeta.net)03/18 Report--

On March 16, Feifan Automobile, a new energy vehicle brand owned by SAIC, clarified the recent rumors of layoffs on the Internet. Feifan posted: "recently, there are some false rumors about Feifan on the Internet, which worries everyone. Feifan car is all right, please rest assured, and thank you for your concern."

It is understood that this is the case. Earlier, there were media reports that SAIC Group had begun to implement layoffs in order to reduce costs and brand adjustment. Among them, the layoffs of the Feifan brand are expected to reach more than 70%. The high-level intelligent driving team will also usher in the overall layoff. Even if it is not laid off this round, Feifan employees will most likely face a pay cut. In addition, it is reported that SAIC passenger cars will fully merge with Feifan cars.

In response, Feifan Automobile pointed out: "on the premise of ensuring independent operation, we should further deepen the strategy of 'light assets', optimize business functions by strengthening coordination with SAIC's related superior resources, and focus on user-related core business." improve the overall operational efficiency to cope with market changes. " In addition, Feifan Motor also said frankly: "the competition in China's electric car market is becoming more and more fierce in 2024, and all car brands are undergoing an unprecedented change. Feifan Automobile, which is in the midst of change, needs stronger strategic determination and flexibility to cope with market changes. Only through continuous innovation, effective cost control, accurate grasp of market demand, and creating more value for users can we remain invincible." At the same time, Feifan Automobile will continue to maintain the established product layout and business rhythm, increase investment on the road of independent operation and innovative development, and continuously and steadily promote the landing of products and services.

Feifan Automobile is a new energy vehicle brand of SAIC Group, formerly known as the "R brand" launched by SAIC passenger cars. In May 2020, SAIC Roewe launched the "R mark" and "new lion mark" double label strategy, and released a number of new cars, but the new R mark is different from the lower positioning Roewe, the new R mark is the exclusive logo of high-end new energy models. After the launch of the R brand, it has successively launched two models, ER6 and MARVEL R, but they are all under the original Roewe brand. To take responsibility for the upward development of the brand, officials set a sales target of about 20, 000 vehicles in 2021, but the R brand sold only more than 18000 vehicles this year, and the sound of the two models is not high in China.

In October 2021, SAIC announced its intention to invest in the establishment of Feifan Automotive Technology Co., Ltd. to enter the middle and high-end smart electric vehicle market. The company is jointly owned by Shanghai Automotive Group Co., Ltd. and Shanghai Ruwu Automotive Technology Partnership (limited cooperation), with a shareholding ratio of 95% and 5% respectively.

After the establishment of Feifan Automobile, the original R brand of Shanghai Automobile passenger car Branch was operated by Feifan Automobile in the way of an independent company. and with the same group's high-end intelligent pure electric brand-Zhiji Automobile to form the "Gemini" of SAIC's impact on the new energy market. And the original ER6, MARVEL R two models have also been changed to Feifan ER6, Feifan MARVEL R, but the two cars have been discontinued. Since then, Feifan Automobile has launched medium and large sedan F7 and medium and large SUV Feifan R7 in 2022 and 2023 respectively, but the performance of the two cars in the market is hardly ideal. Take the 2023 retail data as an example, the cumulative sales of the Feifan F7 was 14092, while that of the Feifan R7 was 6902.

Retail data show that Feifan sold 21416 vehicles in 2023, up 47.37 per cent from 14532 in 2022. It should be noted that SAIC has high hopes for SAIC as a brand to attack the high-end new energy market. According to the plan, between 2022 and 2025, Feifan will launch at least five new models, covering cars, SUV, MPV, etc., and achieve sales growth of at least 100 per cent a year. Obviously, Feifan failed to meet its annual growth target of 100% on schedule.

According to the plan, Feifan will launch a new model in the middle of this year, and a dealer meeting will be held on March 28, at which the follow-up overall planning will be communicated with dealer partners. Follow-up Feifan car development, "Automotive Industry concern" will also continue to pay attention.

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