Where is the BBA sell, where is it to play?

In January 2021, the sales of three in China in China rose.

BMW rose 42.8%, reaching 94,600 units;

Mercedes-Benz rose 16.1% to 93,200;

Audi rose 34.9% to 82,500 units.

After the epidemic is slow, China’s owner’s consumer demand for luxury cars is exploding.

It is this market.

In February, Li Bin said in the “meeting big coffee” in CCTV – with BBA.

“We now have an average price of 400,000, which is Mercedes, BMW, Audi (the main price range). This market is 3 million units, probably 1 trillion sales scale.

We account for 5% of 50 billion yuan, 10% is 100 billion yuan. I think I hope to use 5 years or longer, three-way world has one. “

With March 2, the fourth quarter of the 2020 and the annual financial report released, Li Bin once again mentioned this statement on the financial communication meeting:

In 2021, it will add 20 NIO House and 120 Nio Space.

Its goal is: Basically, where can I buy BBA, where to buy it.

For the whole 2020, it was aid to deliver 43,728 vehicles, and accumulated 88,444 vehicles. Li Bin also jumped from 2019 “the most worse person” to 2020 “the happiest person”.

With the release of the 20020 financial report, we can see that this new car head company operating in China for more than 5 years, has been significantly improved:

2020 year, the total income of $ 16.257.9 billion, doubled compared to 2019;

2020 net loss is 5.117 billion yuan, and it has narrowed 53.3% compared to the worst of the worst 2019.

43,728 cars were delivered all year, and 20,565 vehicles in 2019 were doubled;

The annual gross profit margin reached 11.5%, and its gross profit in 2019 was 15.3%.

In 2021, the “condition” of the proployment is not so critical, but the burden is still arduous:

Li Bin disclosed at the earning report: In 2021, Li Bin was invested to 5 billion yuan to promote the NT 2.0 platform, the ET7 mass production will be the weight, and the automatic driving technology NAD will also be the focus of investment;

The existing ES8, ES6, and EC6 will be upgraded based on the NT 2.0 platform. This means that the change model will not be earlier than ET7, that is to say that there is no new model in 2021;

In 2021, it plans to have a large expansion of sales and service networks, add 20 NIO House and 120 Nio Space, and it will exceed 500 pieces of electric power station this year.

In addition, it is also facing supply chain pressure from the battery and chip field this year.

Going through the key 2020, how to continue to seek breakthrough in China’s high-end electric vehicle market, how Li Bin leads to the better future.


Total delivery of 88444 vehicles

The whole car gross profit is turned forward, and it will be a lot of money.

Let’s take a look at the performance of the fourth quarter of 2020.

In 2020, Q4 is averaged 17,353, which is the best season in it.

The sales volume in this season is increased, which is related to the peak season of the car consumption of Jin Jiuyi Ten.

At the same time, it is a great reduction of the BAAS battery rental program in 2020 Q4, which also reduces the car purchase threshold.

This increased the delivery performance of 蔚 来 Q4.

Li Bin revealed in the financial report, in the order of February 2021, the ratio of the owner of the BAAS scheme reached 55%.

This also reflects that the BAAS mode is recognized by the owner.

In August 2020, the agency of the Ningde Times and other agencies established Wuhan Weiyuan Battery Assets, which is the BAAS Battery Asset Management Company.

This company also revealed new progress: 2 rounds of 1.44 billion financing.

Li Bin said that the capital of Baas is currently not a development bottleneck.

Because this season’s delivery is increased, it will also maintain a strong price, and the scale delivery has also brought improvements in material costs and manufacturing and equality, and the full car gross profit margin is 17.2%.

In 2020, 43728 new cars were delivered, and the gross profit margin of the whole year was 12.7%.

This means that in 2020, it was completely jealous of “selling a loss”.

Selling a lot, the gross profit margin is turned to, and the company has a result of the increase in the company, and the net loss in the year is 53.3% to 5.17 billion yuan in 2020. But if you take this data and the ideal of the same track, there is still a gap between the two funds. As a contrast, ideal 2020 passed 32624 vehicles, and the annual gross profit rate was 16.4%, and the annual net loss was only 152 million yuan.

Delivery grades are gratifying, loss narrowed, gross profit.

For a long time, there are also fund reserves and R & D investment.

In April 2020, the 7 billion yuan investment of Hefei Construction investment and the three-year ADS (US Doshu shares) conducted, and nearly $ 5 billion in financing was greatly completed.

In addition, July 2020, it also got 10.4 billion bank credit for CCB, ICBC, etc.

According to the financial report, it is the most important for the new product. More than 29.87 billion yuan, more than $ 12 billion than the ideal car.

Li Bin also disclosed at the financial newspaper meeting: Wei came 2021 will increase research and development to 5 billion yuan.

In contrast, the R & D investment in 2020 was 2.487 billion yuan, and 2019 was 4428 billion yuan.

The reducing investment in the R & D investment in 2020 is the main reason is that only EC6 new models are delivered. In 2021, it is necessary to wear a NT 2.0 platform that represents the next generation model and the car ET7.

It also gives the delivery point guidelines in the first quarter of 2021, which is expected to be 20000 to 20,500.

According to official data:

The total delivery volume of 12,803, Jani, 2021, of which 7225 were 1 month, 5,578 in February.

That is to say, it is basically confirmed that at least 7,200 cars are delivered in March.

At present, the Hefei factory of Jianghuai has been able to achieve 10,000 units of monthly production capacity through partial production lines.

However, due to the pressure from the battery pack, chip, etc., it is expected to be 7,500 levels of production capacity before July 2021.

At the same time, Li Bin revealed that Jianghuai has launched the expansion work, and it is planned to achieve 150,000 units of single-class annual output by the end of 2021, and the production capacity of 300,000 units is prepared for ET7 and subsequent product production.

Opening this year, with the influence of the Chinese Spring Festival, the northern epidemic situation, there is also the model of Tesla, start selling.

For the competition brought by Model Y, Li Bin’s reply at the financial report is very interesting:

“Tesla will harvest a wave of orders through price cuts. Jemilans insisted on long-term strategies, do not do sales sprint, so you don’t have a lot of” sales like Tesla (sales). “


2021 R & D investment increased to 5 billion yuan

ET7 is the biggest weight, will not launch change models

It can be clarified that NT 2.0 will open a new era of Wei to automotive products.

Based on NT2.0, the first sedan ET7 is not only an important part of the new product sequence, but also has groundbreaking throughout the automatic driving and smart auto industry.

Meload mass production laser radar, standard super high calculation platform, equipped with self-developing automatic driving system NAD, adopts solid-state battery program, battery life is over 1000 kilometers.

This “Stacked Rivien” released on Nio Day in 2020, and a launch has received attention throughout the industry.

Li Bin describes the predetermined situation of ET7 in the financial report call:

“The performance after ET7 released exceeds any previous car, as a model price of 448,000 models, its performance is more than our expectation.”

So what is consumer is looking forward to?

First, it is of course, it is the NAD automatic driving system on which it is powered.

Before NAD, it has launched automatic driving products such as NIO PILOT, NOP.

At present, the overall optional rate of NIO Pilot is approximately 50%, which is Near 44,000 hosts, including NP function, including the price of 15,000 NP selection package and 39,000 NP full package (commonly known as “size NP”).

NAD is a presence that exceeds NP, NOP, and its target object is Tesla’s FSD, the goal is fully automatic.

It is aware of the core technology of NAD. At present, the joint founder of the former Momenta has already enriminated it, and it is a large scale to recruit talents self-research automatic driving technology.

According to the 2020 Nio Day, NAD is based on the Nio Aquila hyperbank system, the NIO ADAM super-calculated platform design, and the whole system can gradually realize the point-to-point automatic driving in high-speed, urban, parking, plus power and other scenes. . It is aware of the full stack automatic driving technology capabilities that have been established with a sense of knowledge algorithm, map positioning, decision control and underlying system.

According to the heart of the car, the NIO Pilot team of the escort has also ushered in a lot of research and development backbone from the domestic automatic driving field and car enterprises.

According to the time available previously, ET7 will open delivery in the first quarter of 2022, and it is already very urgent to leave it.

In 2021, ET7’s mass production and NAD development and testing have a lot of work, and ET7 is also the first model of the Weais NT 2.0 platform, and is hoped by the outside world, so it will put the vast majority of energy. Two work.

Li Bin clearly stated in the financial report call.

“Before the ET7 mass production, it will not change the existing products, as the significance is not significant based on the original platform. Future will be updated for NT 2.0 platform technology.

This increased the improvement of the product is huge, and the interests of consumers are also the greatest. “

So at least this year, I am looking forward to the consumers of ES8, ES6, EC6 models, but I can wait.

Then, after ES8, ES6, EC6, ET7, where is the direction of the propanage planning?

Currently known information, it will also have a large size of car models ET5.

There are also brokers asked in this calling, whether it will enter the mass market by setting up a sub-brand.

Li Bin’s response is that the NIO brand will always focus on the high-end market.

In addition, he also expressed the possibility that it is possible to enter the public model market by setting up other brands.

A few years ago, through investment and Jianghuai / Guangqi / Changan tried to enter the model of other prices, but developing is not as good as possible, and currently has reduced joint venture ratios, from 40% to 5%.

These attempts will not be useless, which has provided possibilities for the general market exploration of the public market.

“More active enters the mass market, is a long-term strategy.” Li Bin said.

Coincidentally, ideal car CEO Li Xi also clearly stated in its internal letter, in the ideal car product plan, also launched a popular model plan, will cover a price range of 15-500,000 yuan.


Sales service network expansion

Change the electrical network upgrade, and fight globalization

At the financial newspaper meeting, Li Bin detailed in detail the situation of the current sales service network and the charge network, and also gave a 2021 expansion plan.

In terms of sales and service networks, there are 23 Nio House and 203 Nio Spaces, covering 121 cities in China.

2021 plans to add 20 Nio House and 120 NIO Space to expand the geographical coverage.

The Akarang Electric Station has built 191, covering 76 cities, and the second-quarter-by-generation power-saving power station will gradually deploy the cost of the second-generation power-saving station in the second quarter of this year. The target is to increase the total amount of the electric power station to at least 500.

At the same time, it will also increase the construction of supercharged networks and destination charging piles. At present, there are 127 supercharts and more than 1700 purpose charging piles, and the programs have reached 600 and 15,000 respectively.

Moreover, the charging network will be inclined by remote areas this year, and the tentacles extend to the region and cities of the charging infrastructure, such as Inner Mongolia, Heilongjiang, etc.

In terms of after-sales service, there are currently 31 serving centers, 158 authorized service centers. In 2021, we must continue to increase the layout, further improve the after-sales service system.

In the specific sales service network deployment strategy, Li Bin mentioned a very interesting point. He said that it would choose the city to build a store in BBA and Lexak has 4S shop, basically to do: Where can I buy? Go to BBA, where to buy it.

In fact, Li Bin has repeatedly reiterated that its competitors are not Tesla, but Mercedes, BMW, Audi in the fuel truck, because the average price of the vehicle is around 400,000 yuan, and it is very close.

According to Li Bin:

“The average price of our current market is 400,000 is Mercedes-Benz, BMW, Audi, this market is 3 million a year, about 1 trillion yuan sales scale.

We account for 5%, 10 billion yuan, 10% is 100 billion yuan, BBA accounts for about 20% share, then I think there is hope to use 5 years or longer, three points in the world . “

This year, it will also enter the BBA’s big camp – the European market.

The European team currently is also preparing for the European team is being prepared, and the products and sales service network are also prepared. Li Bin said that entering the global market is a long-term work, and there is enough patience inside, it is a significant share of major auto markets around the world, but this is not a day.

It has already gone through tough 2020, and the transcript of the hand is not bad, which is also reflected in the trend of the stock price of the past year.

Entering 2021, the delivery volume of the first two months can also be able to have a point, according to this progress, it will break through the total delivery of 100,000 units in April this year.

In the second SUV model, we will stand firm in the luxury car market. Next, our expectation is the production process of NAD automatic driving and the production process of car model ET7.

If this car is able to lend to the advanced automatic driving ability, it will lead to a new step.

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