Hello everyone, I am Liu Honghong from the Future Investment Research School. The update frequency has been reduced recently, mainly because the Shanghai Auto Show 2021 is about to come, so there is a lot of work that needs to be prepared in advance, and I don’t expect to make any money when I write this number. I will share with you the industry after work. For some of the insights and lack of energy, please forgive me. There have been many new cars on the market recently, and I believe many of you have also paid attention to the newly launched Ultra Krypton cars. I can’t help but say that 266,000 can get a 712km endurance car, which is still very powerful. In terms of channels, it is basically learning the way of Weilai: Although on the surface it seems that Geely has created a new Krypton brand on the basis of Lynk & Co in order to enter the pure electric market, but the status of Krypton is really unusual within Geely. And this unusual status was obtained at the expense of Lynk & Co, the most successful of its own brands… Before the establishment of Jikrypton, Geely’s layout in the field of pure electricity was actually very complete: Maple Leaf Automobile focuses on pure electricity at a price of 50,000 to 150,000 Geely Emgrand EV and Emgrand GSe focus on pure electricity at a price range of 100,000 to 150,000, positioning the compact class The pure electric brand Geometry car focuses on pure electric at a price of 150,000 to 200,000 yuan, and is positioned as a compact (actually Emgrand’s shell replacement series) Independent brand Lynk & Co focuses on the 150,000-250,000-priced fuel vehicle market, and plans to launch Lynk & Co’s Zero model, as well as the large SUV Volvo XC90 shell changer EX11. The luxury brand Volvo focuses on the price range of 250,000-900,000. The price of the compact pure electric SUV XC40 RECHARGE is set at 300,000 to 400,000. The subsequent two-wheel drive model is expected to be in the range of 200,000 to 250,000. The original Volvo’s high terminal brand Polestar, the price range of Polestar 2 launched is basically 250,000 to 400,000 In addition, Smart, which locates mini-cars, will also be purely electrified with the help of Geely In fact, you can find that Geely has almost all products from mini cars to large SUVs in China, and I learned that in the original plan of Lynk & Co, there are also pure electric large MPVs. Such a complete product line, if only the domestic market is considered, it can be said that even the BBA in the joint venture is not as rich as Geely’s product line. With the dual flagship models of ZERO+EX11, Lynk & Co’s brand power has been greatly improved again. (Nissan, PSA, Honda, Toyota, there are no XC90 models in China) ――This is Geely’s nearly perfect electrification strategic arrangement before the emergence of the extremely krypton car. Geely Auto was born after Li Shufu stepped down as chairman of Geely Group and An Conghui took over; An Conghui’s original CEO position was taken over by Geely Vice President Gan Jiayue. After a series of personnel changes, Li Shufu was appointed as chairman of Jikrypton Company, and An Conghui was appointed as CEO. Some media commented this way: Like Xiaomi Motors, “Ultra Krypton” is also the top project. Since then, the focus of the group’s resources is self-evident. Very Krypton is likely to be positioned as an arrow brand that drives the entire group’s electric strategy. The emergence of Jikrypton is not as simple as a new pure electric brand, because with An Conghui’s appointment as the CEO of Jikrypton, there are also the three-electric department and the intelligent driving electrical architecture software development department. This leads to a situation: For other Geely brands, such as Volvo, Lotus, Polestar, and Smart, it is necessary to pay development fees to Pole Krypton to obtain technologies such as three-electric power and intelligent driving electrical architecture software. ――This is equivalent to changing Li Shufu’s money from one pocket to another. In fact, many big car companies have the phenomenon of going around inside, after all, this is conducive to amortization of costs, but the most special thing about extremely krypton is that due to the sudden nature of extremely krypton independence, As a result, in addition to taking away the Zero model from Lynk & Co and renamed it to Extreme Krypton 001, the Jikrypton brand also took away almost all pure electric models and related plans. This is nothing at all. After all, there is nothing wrong with having an exclusive pure electric brand. The only regret is that the ace of Zero, which originally belonged to Lynk & Co, was taken away from the opportunity in the new energy market. (The very Krypton 001 shape is the split headlight shape of Lynk & Co. It is the case that it is too late to change the shell after changing the standard) It would be a good thing to say that the pure electric model plan taken away can help Gekr to become a new energy brand with a rich product line of models. After all, people’s recognition of Lynk & Co is 150,000 to 250,000, and if Gekr Achieving 200-300,000 brand recognition is a complete success. But this does not seem to be the case. Because of the SEA vast architecture used by Jikrypton, it can be known from various previous news that although Volvo, Polarstar, Smart, and Lotus all use the SEA vast architecture platform, they are all similar to Jikrypton’s own Product has nothing to do. This also means, Although extremely arrogant took away Geely’s three-electric department and the intelligent driving electrical architecture software development department, most of the research and development resources of this huge team have been invested in Volvo, Polestar, Smart, and Lotus models. On the other hand, even Smart needs to develop a SEA sub-platform with different bandwidths due to size issues. This is almost fatal for the Ultra Krypton car, which currently has only one Ultra Krypton 001 model. After all, what you need to build a car now is to come up with the best products in the shortest time. Looking back at the ups and downs of new car-building forces over the years 2017-2021, We will find that the lesson that the product cannot keep up with the time point is still vivid. The most typical is the Xiaopeng G3. The 19 models were launched too late, resulting in 20 models with a battery life of 500km, but the price is almost the same as that of the 19 models with only 351km. This even triggered a group of G3 car owners to pull banners to defend their rights. This almost caused a fatal blow to the newborn Xiaopeng at the time, and the founder He Xiaopeng had to write an apology: ―The delay of Xiaopeng’s 19 models has caused such a big problem, and there are currently known products from Volvo, Polestar, Smart, and Lotus that need to be developed. This means that the R&D resources left to the very krypton brand itself have become very small. The extremely krypton official once said that one model will be launched every year in the next few years. (The live broadcast said at least two new cars per year, referring to SEA-based models) After the 001 model, the only known follow-up is the small electric vehicle BC1E, which is positioned for urban commuting, and the EF1E, which has already appeared on the road to determine the position of the C Family Crossover model. Like the ZERO code-named DC1E (now pole krypton 001), it comes from the SEA platform. This means that 2021 will be extremely krypton 001, and the models of 2022 and 2023 have been locked, which are the aforementioned small electric vehicle BC1E and large pure electric MPVEF1E respectively. It is good to have a planned model in the future, but the problem is that the two subsequent models are not the ones that are in volume. (The size is either too big or too small) This also means that if you look at the official one-year product and the currently exposed products, the extremely krypton has gone at the wrong rhythm since its birth-if the first 001 can still be used, then the follow-up The product characteristics of the small SUV and large MPV are destined to be almost difficult to move. This is absolutely abnormal from the normal product planning of a car company. After all, when friends and merchants are working on the mainstream market of 150,000 to 300,000 (there are Xpeng P5 and Mustang Mach-E in the near future), but very krypton lacks a mass model similar to Tesla model 3. Known product planning, this model has a high probability of not having it in the next two years. ―― A new brand with Li Shufu as the chairman and An Conghui as the CEO, and let Geely invest in its all-electric products ALL IN, is in an embarrassing situation where its own family is developing 2 products and developing at least 5 products externally. , This makes people wonder: Does Geely really want to build the Jikrypton brand? Someone can’t help but raise the question “Do you want to make money from selling cars or to make research and development expenses?” If it is only a little difficult for extremely krypton research and development resources, what is worse is that Lynk & Co, which has been taken away from all the pure electric model plans, seems to have no future. We must know that Geely behind Lynk & Co is actually facing a faint crisis. ――Now the price of Geely brand is getting lower and lower. The pricing of Xingrui and Xingyue L has caused Geely’s brand to be weaker than Great Wall Changan. The only hope of raising the brand lies in Geely’s own Lynk & Co. For Lynk & Co, although the 01-05 models are the base, there is a problem in that they are all concentrated in the compact market, while the upcoming EX11 is a product that is positioned as a large SUV. Lynk & Co’s product line is now a group of compact + a shell-changing Volvo XC90. This group of compact products uses the CMA platform. A fact is The potential of the CMA platform applied to pure electric vehicles has reached its limit on Polestar 2. ――In order to gain space for the battery on a non-native pure electric platform as much as possible, the front floor of Polestar 2 is actually inclined downwards. Putting your feet up when you are not driving will make your ankles uncomfortable. At this level, the battery life cannot catch up with the Tesla model 3. So Lynk & Co really needs the SEA platform. If Ultra Krypton is not dismantled, then, on another timeline, Lynk & Co’s product line will look like this: Fuel oil 01-05 Compact cars and SUVs EX11 medium and large SUV Pure electric ZERO medium and large cross High-end pure electric business MPV Small SUV This means that when Lynk & Co has a 01-05 base plate, With the dual flagship models of ZERO+EX11, Lynk & Co’s brand power has been greatly improved again, and After increasing the sales of base models, plus ZERO itself has a high probability of becoming an explosive model, at that time, a Lynk & Co brand whose price steadily exceeds that of ordinary joint ventures, and there may be a stable sales volume of 30,000 to 40,000 , Lynk & Co will usher in its own brand new development opportunities. The 01-05 cars can also be followed by a pure electric version to complete the brand upgrade. This also means that the Geely brand has also been promoted. But now all these possibilities are gone. Originally for Lynk & Co to upgrade its products, the purely electrified ZERO was classified as Extreme Krypton. However, when Extreme Krypton has been developing multiple models of different brands at the same time, it means that even Lynk & Co will re-plan the models based on the SEA platform in the future. It is also difficult to quickly come up with new products within 2-3 years. In the words of a person in the industry, that is that the brawny Lynk & Co suddenly limped and was torn apart into two incomplete individuals. Extreme Krypton does not have enough products, and Lynk & Co does not have pure electricity, although I don’t know how far the two brands can go after the separation. But I sincerely hope that the most successful Lynk & Co and the newly born Jikrypton among the independent brands will continue to tell the story of Chinese cars. After all, we’ve heard stories like this since we were young: “The three brothers picked up a chopstick and broke it all at once. Then they took a bundle of chopsticks, and it was different. Everyone kept folding chopsticks. So, three Brothers understand, chopsticks are like this, and people and people are even more like this. Together, the strength is greater.” (Finish) Postscript: From an investment perspective, the split Ultra Krypton is expected to be weak in subsequent models and it is difficult to boost Geely’s stock price. I hope everyone will pay attention to the risks. Click on the star to bookmark me I don’t understand finance from the media Finance from the media does not know me about cars I knew you were “watching”
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