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On May 8, Weilai and GAC GROUP signed a strategic cooperation agreement on recharging. The two sides will carry out omni-directional and multi-level in-depth strategic cooperation in the areas involved in the power exchange industry, such as battery standards, research and development and customization of replacement models, battery asset management and operation, construction and operation of power exchange service network, and promote the interconnection of the two sides' own charging platforms.

According to the agreement, the two sides will jointly promote the establishment of a unified battery standard system, jointly develop exchange passenger vehicles and compatible exchange service stations suitable for both sides' exchange system, promote the listing of exchange models with unified and standardized battery packs jointly determined by both sides, and promote the landing of station-side solutions that can provide exchange services for both models. The two sides will also promote the interconnection of power exchange operation networks and operators, promote the establishment of a unified power exchange operation management system, and build a larger, standardized and unified energy infrastructure network to achieve large-scale advantages. and establish a power battery life cycle management system, establish an efficient battery asset management platform and battery assets operation mechanism.

In 2023, a total of 160000 new cars were delivered in the whole year, an increase of 30.7% over the same period last year, setting an all-time high for a single quarter. Unfortunately, although the delivery volume has reached an all-time high, its losses are also expanding. During the reporting period, the net loss for the whole year was 20.72 billion yuan, an increase of 43.5% over the same period last year, making it the second highest loss year in the history of Lulai. This means that on average, for every new car sold, Weilai will lose about 115000 yuan.

As for the reason for the expansion of Weilai's losses, in addition to product research and development, Weilai's large spending on power exchange is also often criticized. It is understood that although the cost of replacing the Weilai power station continues to decline, compared with the first-generation replacement power station, the cost of the third-generation Weilai replacement power station has dropped from 3 million yuan to 1.5 million yuan, but by November last year, 2217 replacement power stations had been built in Weilai, at a cost of billions of yuan. At the same time, with the maturity of overcharge technology, the practicability of power exchange is also being questioned.

Since November 2023, Lailai has successively reached power exchange cooperation with Changan Automobile, Geely Automobile, Chery Automobile and Jianghuai Automobile to form a "power exchange alliance". Every year, in order to build a power station, it needs to pay a huge amount of money, which leads to sustained losses. The addition of Changan, Geely and other car companies means that this market is finally recognized by the market, which can help share the supply chain costs and operating costs of power exchange in the future. Make the change of power stations profitable more quickly.

It is estimated that when the Weilai power station reaches the break-even point, the utilization rate is about 20%, that is, each station needs to serve 88 times a day to barely break even. Shen Fei, senior vice president of Weilai Energy, also said that the break-even line of the Weilai power plant is about 50 to 60 units a day. However, at present, the average daily unit capacity of the Weilai power station is 35 to 36 units, which means that Weilai needs to at least double the unit quantity to break even.

For Anhui and the two major automobile companies in the province, cooperation with Weilai will help to develop the local new energy vehicle industry and promote the electrification transformation process of automobile enterprises. At present, the power exchange models of Chery and Jianghuai have not yet formed a climate in the market. After cooperating with Weilai, Chery and Jianghuai may be able to solve the problem of inadequate infrastructure and promote the development of power exchange models. According to official sources, JAC's follow-up planned new energy models will cooperate deeply with Weilai and launch "rechargeable and upgradeable" models. With the continuous development of new energy vehicles, car companies are shifting from separate battles to cooperation in the field of charging and power exchange.

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