AutoBeta(AutoBeta.net)03/04 Report--

On March 4, Hong Kong shares of ideal Motor plunged 10.71% to close at HK $160 per share, with a total market capitalization of HK $339.523 billion. On march 1st, the night after the ideal MEGA was released, u.s. stocks also fell sharply, closing down 5.10% at $43.54 per share. The total market capitalization is 46.196 billion US dollars, and the market capitalization has lost about 16.5 billion yuan.

The collapse in the share price of ideal Automobile is related to a variety of factors. On the one hand, it is the market trend. Today, Hong Kong cars collectively open low, including ideal Automobile, Xiaopeng Automobile, Zero running Automobile, Ulay, GAC GROUP, BYD, etc., but the decline is much lower than that of ideal car.

Ideal Automotive shares fell much more than other auto stocks, perhaps the main reason is that MEGA's orders were lower than expected. On March 1st, ideal Automobile officially launched ideal MEGA, and the new car only launched one model with a price of 559800 yuan. Delivery will begin on March 11. At the press conference, ideal car CEO Li Xiang said that the MEGA will be the next explosive product of the ideal car and is confident that it will become the first sales of more than 500000.

Ideal MEGA is the first pure electric car and the first MPV model under ideal Motors. As a MPV, the ideal MEGA has a length, width and height of 5350/1965/1850mm and a wheelbase of 3300mm, which can be summed up as "big", but the huge body size is not suitable for most "affordable families", because it will greatly affect the battery life performance, which is also the reason why many new energy MPV adopt plug-in hybrid, such as Tengli D9, Wei Brand Gaoshan, Lantu Dreamer, etc., while the performance of pure electric MPV is relatively general. Teng Teng D9 also has a pure electric version to choose from, but sales are almost negligible, while sales of pure electric MPV such as polar krypton 009 and Buick Century are equally mediocre.

In terms of power, the ideal MEGA is based on 800V pure electric architecture, using a dual-motor four-wheel drive system, the maximum power of the front motor is 155kW, the maximum power of the rear motor is 245kW, the comprehensive maximum power is 400kW, the peak torque is 542Nm, the acceleration time of 0-100km/h is 5.5s, equipped with Ningde era Kirin 5C battery, the battery pack capacity is 102.7 kilowatts, and the CLTC pure electric mileage of 710km is only 15.9kWh/100km. At the press conference, Li wanted to call the ideal MEGA the fastest recharging car in the world and the largest space for sale in the world, but the electric passenger car, and said that to buy an MEGA is to buy a house.

At the site of the press conference, Li Xiang revealed the reasons for developing the ideal MEGA. He said that the power of the mainstream high-end MPV products is extremely poor, and the Japanese high-end MPV, whose seats are comfortable enough, cannot fit the luggage after seating seven people, and the German high-end MPV with enough space is a big problem, and it is hard to overtake at full speed. As for the performance of intelligent cockpit and intelligent driving, it is almost zero.

Therefore, the main competitors of ideal MEGA are not Xiaopeng X9, Teng Teng D9, Lantu dreamer, extreme Krypton 009, etc., but more traditional high-end MPV markets, such as Mercedes-Benz V-Class / Viking, Toyota Elfa, Buick Century, etc., these models are out of date in terms of intelligence, comfort / practical experience, and the ideal MEGA may change the choice of these users to make up for the shortcomings of these models.

However, the ideal MEGA price of 559800 yuan, although in line with the ideal car advertised earlier less than 600000, but such a price is still unexpected to the market. So far, ideal has not announced a large order for MEGA, which may also make investors question the performance of the car in the future market, even though Li Xiang is confident about the car, while according to a well-known car blogger, the order volume of ideal MEGA is not ideal, and many people have transferred to Xiaopeng X9. Of course, the above is just speculation that the ideal car will announce the order volume of the ideal MEGA on March 5, and there will be an answer whether it is good or bad.

At the same time, ideal car also launched the new L7/L8/L9 on March 1st, and the production power of the new L-series has been greatly improved, but the price is basically the same as that of the old model. The new L7 sells for 31.98-379800 yuan, the new L8 sells for 33.98-399800 yuan, and the new L9 sells for 42.98-459800 yuan, achieving incremental price increase, but compared with other car companies' strategy of both reducing prices and adding equipment. The launch of the new L-Series does feel less than expected, especially after two consecutive months of surpassing sales.

Overall, the sharp fall in ideal car shares reflects concerns about the future performance of the new car market. It is understood that the sales target of the ideal car in 2024 is 800000, and this year is also an unprecedented year for the ideal car. In addition to the release of the MEGA and the new L7/L8/L9, there will also be the L6, which will be launched in the second quarter, with the new car priced below 300000 yuan to compete with the new M7.

The ideal car's plan is that the MEGA, as the ideal first pure electric model, will enter the MPV market segment, the L-series refurbishment will guarantee the market increment of the ideal car, and the L6 will seize the new M7 market, which is also part of the future market increment. The strength of the ideal car mainly lies in the cash flow. By the end of 2203, the cash reserve of the ideal car is 103.67 billion yuan, with sufficient funds to guarantee the ideal car to increase investment in research and development. However, it is by no means easy to successfully achieve the target of 800000 vehicles, especially in 2024, in the face of a more competitive automobile market, the ideal car will more or less have to make market adjustments. The tough battle of the ideal car under the price war is not easy to fight, and it is not easy to achieve the market goal of + 500000 vehicles.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat