For Xpeng, 2023 is undoubtedly an adventure with ups and downs. Plagued by products, technology and sales, they were hit hard by their competitors, but with the launch of the popular G6, the rumors of imminent bankruptcy in the market were shattered. In exchange for a $700 million investment, they took a 5% stake. When we thought that Volkswagen's favor for Xpeng Motors was the pinnacle of Xpeng in 2023, they once again bet on a maximum of 5% equity for a maximum total consideration of HK$583.5 billion yuan purchased Didi Chuxing's electric smart car project, thus continuing to consolidate its leading position in the traffic industry.
The strategy is clear: on the one hand, they have attracted strategic investment from the Volkswagen Group with their G9 high-end electric smart car platformOn the other hand, they acquired Didi's electric smart car platform. This between buying and selling fully demonstrates He Xiaopeng's characteristics as a shrewd businessman.
Unlike NIO and Li Auto, Xpeng initially entered the public eye not for its smart cars and autonomous driving technology, but for its strong investment atmosphere. After all, He Xiaopeng entered Xiaopeng Motors as an investor. At the press conference for the 4th anniversary of the establishment of Xiaopeng Motors, He Xiaopeng announced a financing plan of 30 billion yuan and put forward the view that "the core of smart cars is not manufacturing but operation", which has attracted widespread attention to Xiaopeng Motors. For a long time, the relevant progress and amount of financing have also become one of the regular contents of Xpeng Motors' press conference.
In addition to the manufacture and sales of automobiles, how to better tell his own brand story and obtain better market value seems to be more like He Xiaopeng's main task. After the G9's sales** and personnel turmoil, Xpeng seems to be in a position where it will be blamed for whatever it does. Some even blame the problem on the G9's product SKUs being too numerous and complex. Major platforms are full of short **, claiming that Xpeng Motors has gone bankrupt. However, when the sales and public relations teams carried out a large-scale replacement, the Xpeng G6 that came with the regret and expectation of G9, although the sales still need to work hard, have achieved great success on the major mainstream ** platforms. As a result, Xpeng Motors has once again been warmly sought after by the market.
The public's favor for the Xpeng G9 platform, the specific details behind it are unknown. But what we do know is that Volkswagen's investment has brought a more robust flow of funds to Xpeng and may even attract more new investment. And Didi Chuxing is the first new partner to arrive. As the world's largest ride-hailing operator, Didi Chuxing is also one of the largest single customers of electric vehicle companies. At the peak of its business, many car companies were rumored to develop exclusive models for it, but in the end, only BYD's D1 really landed.
It seems like a long time ago for Didi Chuxing to enter the field of car manufacturing. After all, there are very few successful cases of asset-light companies entering asset-heavy industries, and now it seems that they have completely lost hope. For them, earning platform commissions seems more practical and simple. Therefore, it is undoubtedly the best choice for Didi Chuxing to sell its electric smart car platform to Xpeng Motors, after all, there are too many electric vehicle platforms in China.
For this strategic cooperation, the most important new element that Xpeng Motors can obtain is traffic, in addition to the orders reserved by Didi Chuxing for itself. However, it is worth noting that there is already a large number of options in the e-hailing market, and there are also local policies that vary significantly from place to place. Therefore, Didi Chuxing should perhaps seriously think about how to make the online car-hailing made by Xpeng Motors more attractive to drivers in addition to the best advantages.
For Xpeng, it is critical to maintain a continuous flow of traffic. After all, one of the main reasons for the troubles in 2023 is the chaotic rhythm after the Xpeng P7. From the official launch of the Xpeng G6 on June 29, to the official announcement of Volkswagen's investment on July 27, and then to the purchase of Didi Chuxing's electric vehicle assets on August 28, a series of big moves are scheduled to be carried out at the end of each month. Was this intentional or a coincidence?Such a strategy is easy to be seized by competitors, after all, Xpeng G9 is seriously suppressed in such a situation.
At present, the Xpeng G6 is running all over the street, and the major news at the end of each month, so that we no longer only pay attention to the sales and ranking of Xpeng Motors, but look forward to its next moves. In the current sluggish car market, such a high level of attention is especially important, after all, consumers are more inclined to choose familiar brands and products that are often in the eye. The continuous ** and heated discussions have made Xiaopeng Motors the "traffic king" of the auto market. While its sales and rankings are still in the spotlight, at least rumors of bankruptcy have gone up in smoke.
Guangzhou-based Xpeng Motors has always given people a very different feel from NIO and Ideal. Jiang Ping, a former GAC executive, is in charge of the two factories in Zhaoqing and Guangzhou, which can be said to be the representative of car manufacturing in Guangdong, not to mention that the founder of its model development is also from GAC Group. It seems that the Japanese concept of lean production does not conflict with the new car market, and the combination of the two may even stimulate great potential.
The buy-and-sell decision to sell the G9 to Volkswagen and then quickly buy Didi's Mona once again underscores Xpeng's qualities as true businessmen: they not only have to tell a good story, but also negotiate a good price, and there is really no other car company that can match them. Perhaps we can look forward to the arrival of the end of September to see if Xpeng Motors will bring another shocking blockbuster news for the upcoming Mid-Autumn Festival and National Day. It's crucial for them to keep the pace and hopeful.