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Carmen internal reference | “The worst thing” Li Bin admitted that there are doubts about whether the company can continue to operate; 200 people who owe salaries for the future have left for a few months; Huawei’s cars on the road are just around the corner?

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Editor’s note: This article is from Krypton 36 “Future Automotive Daily” (micro-channel public number ID: auto-time), Author: Li Lingfeng.

Finishing | Li Lingfeng
“Carmen internal reference” is the weekly column of Future Car Daily, which will sort out the business news worthy of attention in the travel field this week.Here are the company and business news to watch this week (March 16-March 21):
“Badest” Li Bin admits doubts about whether the company can continue to operate
“The worst person in 2019” Li Bin said a lot less than in the past, and was straightforward.After the fourth quarter 2019 financial report of Weilai Automobile was announced, the founder, chairman and CEO admitted during the earnings call that the company’s cash flow has not lasted for 12 months.The financial report simply admits: “Due to the continuous losses, net cash outflows, negative working capital, negative equity, and uncertainties in the completion of financing projects, etc., there are still major doubts as to whether the company can continue to operate.”
Li Bin, who once wanted to “make Tesla nowhere to go,” has now almost reached the edge of a cliff.The epidemic “Black Swan” disrupted the original sales rhythm, and Weilai gave a pessimistic outlook for the first quarter: delivery and revenue in the first quarter will be cut from the previous quarter.Over 10 billion local government financing has not yet been secured, and a head-to-head confrontation with Tesla is about to begin.The calculation formula of “1 billion yuan monthly income” is obviously unable to convince investors, and Weilai needs to show signals that it is expected to be profitable.
Further reading: Weilai: the worst 2019, the hardest 2020
200 people who quit a few months in arrears
On March 20, a number of employees of the promising car told the Future Auto Daily that the company still had no money to pay and the wages had been in arrears for several months after adjusting the salary payment time of employees several times.On the evening of the same day, employees received only half-month wages reimbursed by the company.At present, the company has given a new exit agreement plan, employees are faced with the choice to stay, and the promising car manufacturing business is also on the verge of shutdown.
In April 2014, Future Cars announced the first concept car, the Future K50, at the Beijing Auto Show, but since it went on sale last year, the number of pure electric sports cars K50 starting at 700,000 yuan has not sold more than 200 vehicles.The dismal sales of the first mass-produced model became the trigger for the tight funding chain of the future car and the difficulty of subsequent development.Insiders revealed that the bigger problem is that “the company’s products have strategic direction problems and management is confusing.”
Further reading: 200 people who quit a few months in arrears, the future car is struggling to find a way forward
Toyota’s “horrible rival” retired, Hyundai is not rich for three generations?
The most remarkable transfer of power in Korean automobile history has come to an end.On March 19, Hyundai Motor Chairman Zheng Mengjiu officially stepped down on his 82nd birthday, retaining only non-registered executives of Hyundai Motor and registered directors of Hyundai Mobis.Zheng Yixuan, Zheng Mengjiu’s son, took over as father’s chairman after the shareholders meeting.
Zheng Mengjiu is the founder of modern car myth.In the 21 years he has been in charge of the company, Hyundai Motor has grown from a regional brand to a whirlwind to become the world’s fifth-largest car maker.Today, Hyundai Motor is about to start the era of Zheng Yixuan, but the battlefield he faces is very different from his father.
Further reading: Toyota’s “horrible rival” has retired, Hyundai is not rich for three generations?
New battle of power batteries: Tesla vs. Ningde era?
On March 16, the stock price of Ningde Times plunged 9.87% to close at 119.06 yuan.What makes the Ningde era more troublesome is that more and more auto companies choose to build their own battery production lines.This means that Ningde Times will not only face the risk of customer loss, but also new competitors.According to the electrek website, Tesla is piloting a battery production line at its Fremont plant in the United States.Unlike battery factories operating in Nevada, Tesla has designed its own battery production equipment.”I hope to control my own destiny on battery issues,” said Drew Bagrino, vice president of technology at Tesla.
Some analysts believe that after the battery capacity is sufficient to meet its own needs, Tesla will open up the supply of battery products to other car companies.If Tesla is re-examined as a battery manufacturer, this is still a strong opponent worthy of vigilance.Today’s partners Panasonic, Ningde Times and LG Chem will have to “turn friends into enemies”, and the power battery field may form a new battle situation.
Further reading: New battle for power batteries: Tesla vs. Ningde era?
Live car sales are just getting started, but the auto industry sees it as the future
The new crown epidemic has suspended offline consumption and life. Few people go out and few people go to the store to watch cars. In order to minimize losses and continue business, auto dealers and mainframe manufacturers are transforming online.According to the data provided by the huge engine under the byte beating, car companies and dealers have opened nearly 5,000 accounts on the Douyin platform, and there are nearly 5,000 live car dealers with a total of over 80,000 live broadcasts.
Going online is a trend in the automotive market in recent years, and the advent of the new crown epidemic has made progress even faster.Currently, online sales cannot replace offline, and its greatest value is complementary to offline.The effect of online sales is very good, but it can’t accurately target the groups who need car purchases. Although the sales channels and spread of the store sales are small, it can well capture the interested car buyers and promote orders.At present, the core of the competition of car dealers selling live cars online is still product power and price.
Further reading: Live car sales have just started, but the auto industry considers it to be the future
The battery pattern has changed, and who will benefit from it?
Lithium iron phosphate batteries, which have been suppressed by ternary lithium batteries, seem to be returning to the mainstream.Recently, Tesla and Ningde Times co-exposed on the purchase of cobalt-free batteries-CTP lithium iron phosphate batteries, while BYD lithium iron phosphate “blade batteries” also began mass production in March.Driven by this, the capital market reacted quickly. First, BYD’s stock price ushered in two daily limit. Then, the A-share market had multiple stocks that involved the concept of lithium iron phosphate. At the same time, it also triggered a number of cobalt companies’ stock price limit.
Taking the opportunity of cooperation between Tesla and Ningde Times as an opportunity, the battery industry has once again ushered in the technology and market game of lithium iron phosphate and ternary lithium.The policy factors that promote the ternaryization of passenger cars have gradually weakened, and the battery technology line may be differentiated. Moreover, significant technological advances have occurred in the Ningde era and BYD, which has reduced the gap between the volumetric energy density of lithium iron phosphate batteries and ternary batteries.All kinds of factors have promoted the logic change of the lithium iron phosphate battery industry.
Further reading: The battery pattern has changed, and who will benefit from it?
The Association of Automobile Manufacturers: The automobile market bottomed out in March, and the estimated retail volume was 1.03 million
On March 17, the CIC issued a document stating that the sales target of auto manufacturers in March fell by 38% year-on-year. The sample size of the survey in 2019 accounted for about 81% of the overall market. According to this ratio, the retail volume of passenger cars in the narrow sense in March was initially estimated.There are about 1.03 million vehicles, which is about 40% lower than the same period of last year, and will increase sharply from the previous month.
The Federation said that consumer confidence in buying a car is difficult to return to normal in March, so the auto market in March is still at a historical low, and it is expected to gradually pick up after April-May.Compared with developed countries, China ’s car ownership still has the potential and room for growth. The Federation believes that with the effective promotion of policies and the market, the auto market can be restored to life.
Further reading: The Federation of Automobile Manufacturers: The automobile market bottomed out in March, and the estimated retail volume is 1.03 million
BMW’s R & D investment will exceed 30 billion euros in the next 5 years
At BMW’s 2019 annual financial report conference on March 18, BMW Group Chairman Qi Puze said that affected by the epidemic, it is expected that the profitability of the BMW Group in 2020 will drop from 6.8% in 2019 to 2% -4%.The group has already begun closing plants in Europe and South Africa, and the shutdown is expected to last 4 weeks.
As the epidemic develops, more BMW plants worldwide may be affected.However, Zipzer emphasized: “The epidemic will affect operations in the short term, but will not affect the BMW Group’s continued long-term strategic goals. BMW will invest more than 30 billion euros in research and development in the next five years.”
Further reading: BMW’s 2019 revenue exceeds 100 billion euros for the first time, and R & D investment in the next 5 years will exceed 30 billion euros
Hongmeng “get on the car”, how long will it take for Huawei cars to get off the road?
A few days ago, Chery Automobile released a poster of a new car with the words “Hongmeng”. Although it was soon deleted, there have been speculations that Huawei, which entered the auto market one year later, is expected to achieve product landing this year.Industry analysts point out that, looking at the current automotive market, traditional car companies face operating pressures and are slow to turn intelligently; new car-making forces have difficulty financing and it is difficult to build an ecology.It can be said that the entire market is in a game, and this process will continue for some time.
For Huawei, through 7 years of exploration, Huawei has basically grasped the overall architecture and key technologies of future smart cars.In Huawei’s own words, except for the chassis, four wheels, shell and seats, the rest are Huawei-owned technologies.Hongmeng got into the car, the vehicle module is mature, and the autonomous driving has passed authoritative verification.It can be said that Huawei is ready to “get in the car”.
Further reading: Hongmeng “gets on the car”, how long does it take for Huawei cars to be on the road?
The pain of calling a car online: you can’t get a car, the driver can’t get a ticket
In recent years, with the decline of investment enthusiasm and the subsidy of high subsidies for drivers, the pace of development of the online car market has slowed down.The outbreak of the epidemic has made the ride-hailing market worse.According to the relevant data released by Aurora, the decrease in travel caused the number of daily active users of platforms such as Didi to gradually decrease by about 50%.This puts huge pressure on the banks-while their cash flow plummets, their expenditures increase.Users, drivers, and companies are all waiting for the epidemic to end.
Nowadays, in addition to Didi, platforms based on traditional leasing, such as Shouqi Book Cars, Divine Cars, and Cao Cao Travel and T3 Travel, which are backed by car companies, have their own “power”, and they are more “spirited”.Cross-border players such as Meituan and Gaode joined the melee.All forces are trying to rewrite the rules of the online ride-hailing market.However, the emergence of the “black swan epidemic” has caused the Chinese ride-hailing market, which was originally the peak season of the Spring Festival, to fall to a bottom this year.The frequency of people’s trips has plummeted, which is a “hit” for most ride-hailing companies in the market.
Further reading: The pain of calling a car online: you can’t get a car, the driver can’t get a ticket

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