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Yesterday, the chairman of Xiaopeng Motors had an interview, in which he mentioned that the new forces of new energy vehicles are taking corners, and BYD is very strong in the straights. This topic has aroused many discussions. Some excerpts from the original text are as follows:
Question: Recently, some media said that new forces may be turning into old forces, and the overall rhythm is showing some fatigue. What do you think of the current public opinion?
He Xiaopeng: Just like everyone running laps on a large circular track, when you are on a straight, you can accelerate quickly; when you enter a corner, you need to slow down and turn to the next acceleration lane. . I think the first generation of the new forces today are all on the curve. Maybe one of them is already a little ahead of the curve, and Xiaopeng is also on the curve.
Question: What do you think of Huawei and BYD in making cars? BYD’s product rhythm and globalization path are relatively fast. Will it squeeze some market space for Xiaopeng?
He Xiaopeng: BYD is also transforming from the original fuel vehicle to the next generation of energy including electric energy and digital energy. BYD has reached a new straight path. But from another perspective, as customers understand hybrid and electric and other changes in the environment, I believe they will also have a lot of strategic adjustments.
I think they are all on their own straights now, because this market changes from a different angle, they will all play in the original system, and they are all incremental markets in a market.
For new energy vehicles, if you grow too fast, you are like a bucket. You have a lot of boards. You need to develop in a balanced way, and you have to go up circle after circle. Personally, I think we are an appropriate number in today’s system. As for other friendly runners who are running very fast, we want to congratulate them and learn from them, but walk steadily at our own pace. From next year onwards, we will go up the steps every quarter. You have to walk steadily. , can’t be fast and slow, steady is better than acceleration.
Chairman Xiaopeng’s statement of curves and straights is actually a response to the huge difference in the sales performance of new energy vehicles between the new car-making forces and BYD in the past two years.
This graph is the sum of the sales of Weilai, Ideal, and Xiaopeng, compared with the sales of BYD’s new energy vehicles.
From March 2020 to February 2021, Wei Xiaoli and BYD’s new energy vehicle sales basically followed the same trend, and there was no gap in growth. In February 2021, the total sales volume of Wei Xiaoli was 10,101, and the sales volume of BYD’s new energy vehicles was 10,123, basically the same.
However, from March 2021 to August 22, BYD’s new energy vehicle sales began to grow rapidly. In August 2022, BYD’s new energy vehicle sales were seven times the sum of Wei Xiaoli’s total. It took a year and a half.
Even if the sales volume of Wei Xiaoli is compared with that of the BYD Han model, the growth of Wei Xiaoli is obviously weak.
At the beginning of its listing, the sales volume of Han and the three Wei Xiaoli have been indistinguishable, but since Han DMi was launched in May this year, the sales of Han have risen to a higher level, and now the sales volume is more than the sum of the three Wei Xiaoli.
This is the background of this interview with the chairman of Xiaopeng. If you compare Wei Xiaoli, who is also a new force, Xiaopeng’s sales may still follow the trend, but in the face of BYD’s strong growth, the head of Xiaopeng needs to There is an explanation.
As an industry insider, the statement of the chairman of Xiaopeng is actually very vivid when you think about it. Wei Xiaoli’s growth stall is actually the fact that he can’t find the power point. It is indeed like constantly adjusting the direction on the curve, and has not adjusted to the position where he can release his power.
In fact, Tesla, the world leader in new energy vehicles, is also facing a similar dilemma as Wei Xiaoli. Although Tesla is a global market, although Tesla’s sales have increased by 4 times in 4 years. But Tesla’s growth is also facing a trend of being clearly surpassed by BYD, and now is the inflection point of this cross.
Why is BYD able to make rapid progress on the straights compared to its global counterparts? This question is worth exploring.
I personally think that the main reason is BYD’s product coverage capability in the whole market caused by the layout of the whole industry chain on new energy vehicles.
For this once-in-a-century automobile industry revolution, the attitudes of global players can be roughly divided into three categories.
First, the traditional fuel vehicle giant represented by Toyota Volkswagen has a timid attitude towards vehicle electrification. A few years ago, the slogan of full electrification has been shouted, but so far, there is still no product that can be beaten. Among the giants, Volkswagen CEO Diess, who is most determined to electrify, resigned sadly because he could not appease the guild, which is dominated by workers in the fuel vehicle industry chain. It’s a huge difficulty.
Second, new forces such as Wei Xiaoli, Tesla, and Huawei.
The attitude of the new forces towards the upgrading of the automobile industry is somewhat opportunistic. Avoid the confrontation with the main battlefield (middle market) of fuel vehicles, start with high-value products, and expand to the mid-value market after the industrial chain matures. However, the disadvantage of this is that it is impossible to launch an active attack on fuel vehicles, and it needs to be done after the supply chain of new energy vehicles is mature, which is slightly passive in strategy. It’s a small weakness.
Third, start from the very beginning, start from the most basic work, and have a comprehensive showdown with fuel vehicles. It is extremely difficult, but the advantage is that it has a strategic initiative to cultivate the supply chain by itself, and one step ahead has a cost advantage, thus forming a virtuous circle.
The only one in the world, BYD. It can be described as a tough fortress and a dull fight.
The reason why BYD’s sales growth can beat its peers is mainly because the sales of BYD’s various models show an accelerating trend. Its market is the whole market, which is incomparable to its counterparts whose product preparation only has a partial market.
As BYD sings all the way on the straight, the industry pattern next year will be that BYD surpasses Tesla’s multiples and surpasses the gap of other peers’ index levels. The cost gap brought about by the scale will build a deep moat for BYD, forming BYD’s unshakable position in the mid-segment market of new energy vehicles.
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