Kunpeng Project
Today, when the capital winter has become a foregone conclusion, it is difficult for you to find an industry that can really be heavily bet by capital.
Of course, AI is a special case.
Even if it is the car manufacturing industry that has been sought after by capital in the past, the same is true.
This is not only reflected in the new entry into the car manufacturing of Xiaomi, but also in the body of the "Three Musketeers" represented by Wei Xiaoli.
Xiaomi made cars, more of Lei Jun paid out of his own pocket, and regarded it as his last venture, while Wei Xiaoli began to fade his halo and look for a development model of self-hematopoiesis.
We can see a hint of this from NIO's latest financial report.
According to the financial report, NIO's revenue in the third quarter increased by 46% year-on-year6% to 190700 million yuan, compared to the market expectation of 1937.3 billion yuan.
Net loss for the third quarter was 455.7 billion yuan, a year-on-year increase of 108%。
The release of the financial report means that NIO not only did not meet market expectations, but even its losses further expanded.
According to statistics, NIO has lost nearly 15.5 billion yuan in the first three quarters of this year.
It is obvious that the once glorious car-making family is falling into more and more embarrassment.
When NIO is unable to offset the development difficulties caused by the expansion of losses with realistic growth, it may face more and more difficulties and problems in the future.
Obviously, such a situation is not what Li Bin wants to see.
When the capital dividends in the car-making market are cleared, especially when the development of the car-making market has entered a relatively objective and rational stage of development, how to find new growth poles other than capital to offset the vacancy caused by the withdrawal of capital may be an important problem that must be solved in front of Li Bin and NIO under his leadership.
one
When it comes to car manufacturing, capital has always been a topic that cannot be avoided.
Whether it is a foreign car-making brand represented by Tesla, or a domestic car-making brand represented by Wei Xiaoli, this is the case.
Similarly, NIO under the leadership of Li Bin was born and prospered because of capital.
NIO was born in an era when capital's interest in Internet investment was waning.
The peak of traffic and the emergence of contradictions in the Internet model have begun to exhaust the capital's interest in Internet investment little by little.
As a result, we saw the birth of the "Three Musketeers of Car Making" represented by He Xiaopeng, Li Xiang and Li Bin.
It can be said that they have truly grasped the background and trend of increasing capital investment in car manufacturing, and truly seized the opportunity for the development of the car manufacturing industry.
When more and more players begin to devote themselves to the field of car manufacturing, when more and more capital institutions begin to invest in car manufacturing projects, a new era of capital dominated by car manufacturing begins to arrive.
Whether it is an Internet player or a traditional industry player, almost all of them have begun to devote themselves to the ranks of car manufacturing.
A new wave of Internet-style development driven by car manufacturing has begun to unfold.
In the past, we saw the scene of the "war of a thousand cars" in the Internet era, and now, it has begun to appear in the field of car manufacturing.
It has to be said that the rise of car manufacturing has filled the gap brought about by the ebb and flow of Internet dividends, and has truly brought the carnival of capital from one industry to another.
However, we should also see that such a development model built on the bottom of capital can only bring short-term and radical development to the development of the industry, but cannot bring long-term and sustainable development to the industry.
With the problems of one car maker after another, especially as the attention of the capital market to car manufacturing began to decrease, car manufacturers began to become an existence that fell into the dust from a starry moon.
A capital-driven, scale-led car-making model has begun to come to an end.
II. II. II
NIO was born in such a radical and crazy era.
With its own first-mover advantage and the background of its founder, Li Bin, NIO has embarked on a path of dancing with capital.
NIO has become a leader in the field of car manufacturing, and has also successfully completed all the actions of financing and listing that Internet players must have completed in the past.
I have to say that if you just look at car building as a beautiful story for the capital market, NIO's story model is quite perfect.
In fact, such a capital-led approach to car building is just the beginning.
If NIO wants to occupy a place in the future development, especially at a time when more and more car manufacturers are beginning to devote themselves to it, and continue to win the market with its own strength, it will inevitably need to find a new development model other than capital.
At the end of the day, it's about finding a business model that can really support your own development.
As a result, we have seen that NIO has begun to take a diversified development route and has begun to explore new development methods and methods around car manufacturing.
This is the case for NIO mobile phones and NIO's derivative services.
Although such a way of playing by NIO has regained the imagination of the market to a certain extent, if it starts to blindly diversify and expand only when the main business is not yet stable, it will inevitably leave the outside world with the suspicion of spreading the pie.
This is actually a typical development model of scale expansion.
We have seen a lot of such a development model in the Internet age.
Although such a development model can help NIO find a new story model to a certain extent.
However, if there is a lack of a good market background, especially a relatively mature market environment, such a large-scale development model will not only fail to solve NIO's current development dilemma, but will even bring NIO's development into a new dilemma.
The continuous expansion of losses disclosed in NIO's financial report is a direct reflection of the negative effects brought about by such a large-scale expansion development model.
Predictably,If NIO just blindly copies the Internet-style development model, if NIO only continues the capital's play, and cannot really find the antidote from the car itself, then NIO's future will eventually fall into a greater predicament.
Three
In fact, the current car-making industry has long passed the era dominated by concept and marketing, and has entered the era of real competition for hard power.
In the final analysis, the competition in the car-making market still has to return to the essence of car-making and the competition of the underlying technology.
In the final analysis, the ultimate battlefield of the car-making market is not in the capital market.
This is the key reason why players represented by Huawei and Apple do not easily claim to devote themselves to the ranks of car building, but only define themselves as a key reason to assist more car builders to build good cars.
For NIO, there is no doubt that it has enjoyed the first-mover dividend of the car-making market.
At a time when the development of the car-making industry has entered the deep water area, Li Bin and NIO under his leadership should not only focus on continuing the previous capital-led development model, but also need to focus more on exploring the hard power of car-making.
Only by constantly finding the difference between NIO and other car-making brands, and allowing NIO to truly find its own competitive advantages in car manufacturing, can we truly bring NIO out of the current development dilemma.
Otherwise, NIO may eventually be surpassed by latecomers like those players who enjoyed the first-mover advantage in the Internet era.
In the final analysis, NIO still needs to grasp the internal logic of the development of the auto-manufacturing industry and find the current development direction of the auto-manufacturing industry, rather than simply copying and copying its own development model in the past.
Only in this way can NIO truly find an antidote to the current development dilemma, rather than just blindly filling another hole with one hole.
From this point of view, car manufacturing actually has a similar development context to the Internet.
In my opinion, the current car building is more like the first bubble period experienced by the Internet.
In such a cycle, what NIO really needs to do is how to expand the user base of its own products, and how to popularize its own products as much as possible, rather than just harvesting existing users.
By solving such a problem, NIO will be able to get rid of the previous development route dominated by the large-scale expansion of capital, and return to the development route dominated by the refined operation of products.
Only in this way can NIO truly survive the bubble period of the car-making industry and truly enter the next stage of development.
Conclusion
There is no doubt that NIO is entering an embarrassing period.
In essence, the embarrassment that NIO is experiencing now is the same embarrassment encountered by the previous capital-led development model.
Capital only talks about scale and efficiency, but it lacks the characteristics of fighting a long-term war and a protracted war.
If we want to solve such an embarrassment, it is inevitable that it will not be possible to rely on the capital-led development model and just take the development route of scale expansion.
The embarrassment that NIO has encountered so far is more like tearing off the fig leaf of car building, and truly allowing people to see the true face of car building with capital as the main driving force.
Through the embarrassment of NIO, we can understand why Apple and Huawei have always maintained a relatively cautious attitude towards making cars.
Similarly, through the embarrassment encountered by NIO, we have also seen the development of the car-making industry, which has entered a new stage of competition for hard power from the stage of savage growth.
At such a stage, relying only on beautiful stories will inevitably not achieve long-term development.
Jumping out of the logic of large-scale expansion of capital, returning to the car itself, and truly finding the essence and connotation of car making, can we truly find a new development breakthrough in the era of the "New Three Kingdoms" of car manufacturing.
At this time, NIO can have itA new future.