Depth independent penetration
In 2024, what will "change"?
Author: Ling Yu.
Editor: Coke.
Style: Mengqi.
*: Shoucai - Shoutiao Institute of Finance and Economics.
On January 25, investors woke up to find that Tesla's market value had fallen by one BYD. Why is that?
On the news side, the early warning that growth in 2024 may be lower than last year is a consideration. In fact, Tesla's sluggish growth was evident last year. The total revenue in 2023 is 967US$7.3 billion, an increase of 19% year-on-year, although it hit a record high, the growth rate slowed down significantly compared with the previous two years; Gross margin also fell to 176%, the lowest level since 2019.
A deep examination of this fatigue stems from the fierce market competition, and waves of ** battles are the best involution refraction. As strong as Tesla, other companies must know their own bitterness.
If there is no increase in income, where is the Great Wall?
On January 23, Great Wall Motor released its 2023 annual performance report:
Revenue 1734100 million yuan, a year-on-year increase of 2626%；Net profit attributable to shareholders of the company 700.8 billion yuan, down 1522%；Net profit attributable to shareholders of the Company after deducting non-recurring gains and losses468.2 billion yuan, a year-on-year increase of 458%；Basic earnings per share was 083 yuan, a year-on-year increase of **891%。
The explanation given by the company for the increase in revenue and not the increase in profit is that it is mainly due to the impact of exchange rate gains. Net profit in the fourth quarter decreased sequentially, mainly due to the provision of year-end bonuses.
That being said, analysts had previously broadly expected a full-year net profit of around 71$8.9 billion. Or affected less than expected, Great Wall Motors fell five times in six trading days on the 24th, and the ** price was 20 as of January 3143 yuan, compared to 22 on the 23rd51 yuan fell by more than 9%.
Looking at it from a long perspective, the ** price of A shares on October 18, 2023 is 3098 yuan, after the ** down, the current cumulative decline of more than 30%. Hong Kong stocks also turned downward from late November, with a ** price of 7 on January 31, 2024HK$69, compared to 11HK$98 fell by more than 35%.
In addition, some brokerages have also downgraded their ratings and price targets. For example, Da Mo Research Report downgraded Great Wall Motor's rating to "keep pace with the market" and lowered the target price to 11HK$5, believing that the company lacks a competitive new model of electric vehicles to launch.
Industry analyst Guo Xing believes that to outperform the market, we must first ensure that the product is at the same frequency as the market. At present, new energy products represented by electric vehicles have become the mainstream. On the whole, Great Wall Motor's new energy transformation is still on the way, and it is rare to see the poor sales of related explosive products and hybrid products as a pain point.
In 2023, Great Wall Motor's cumulative sales will be 123070,000 units, a year-on-year increase of 1529%, of which 26 were new energy models20,000 units, a year-on-year increase of 9839%。Overseas market sales 3160,000 units, a year-on-year increase of 8248%。
The growth rate of new energy vehicles is gratifying enough, but the overall volume is still weak, and traditional fuel vehicles are still carrying the banner.
In terms of specific brands, the Haval brand is still the pillar, with sales of 71 in 2023520,000 units, accounting for 58 percent of total sales11%。It was followed by the Great Wall pickup, tank brand, Ora brand and WEY brand, corresponding to sales of 20230,000 units, 16250,000 units, 10850,000 units, 4160,000 units.
Taking Ola as an example, the total sales volume in 2023 will only increase by 4% year-on-year35%。
According to Dazhong Newspaper Qilu One Point, in 2023, the average income of Great Wall Motors per bicycle will be 14090,000 yuan, an increase of 1 year-on-year230,000 yuan. In the first, second, third and fourth quarters of 2023, the average bicycle income will be 13200,000 yuan, 13680,000 yuan, 14360,000 yuan, 14700,000 yuan.
Compared with competing products that often reduce prices, the average price of Great Wall Motor's products has risen steadily, which is gratifying. However, it should be noted that the net profit attributable to the parent company declined, with -89 in the first three quarters34%、-75.69%、-38.79%。Although the fourth quarter reached 201.3 billion yuan, a decrease of 446%。
The profit growth rate of the bicycle has slowed down, and the key is still in sales.
Exodus vs. Vocalization What is more important
Looking back at 2023, many executives bid farewell to Great Wall Motors, including Guo Tiefu, General Manager of Brand Public Relations of Great Wall Motors, Li Xiaorui, General Manager of Great Wall Haval, Wen Fei, General Manager of Great Wall Ora Salon, and Chen Siying, CEO of Wei Brand.
Taking Li Xiaorui as an example, he has been in the automotive industry for more than 20 years. He used to be the director of SAIC Volkswagen North China, and joined Great Wall Haval in July 2020.
In August 2022, at Great Wall Motor's Haval brand new energy strategy conference, Li Xiaorui announced that the sales of new energy vehicles under the Haval brand will account for 80% in 2025, and the Haval brand will stop selling fuel vehicles in 2030.
Another example is Chen Siying, formerly the deputy general manager of Lynk & Co, and the CEO of the Wei brand and the general manager of the marketing of the tank brand in early 2023. But after the National Day holiday in 2023, Chen Siying announced her resignation through a blog post.
Stretching the dimension, Chen Siying is the seventh CEO of WEY. The frequency of changing commanders should not be a plus for the steady development of enterprises. Shouldering the important task of high-end of the Great Wall, the Wei brand has been pinned on high expectations since its birth, but the market performance is difficult to say how brilliant.
From January to September 2023, WEY brand, which has fully transformed into new energy, achieved cumulative sales of 32,968 vehicles with three plug-in hybrid models, Blue Mountain, Mocha and Latte, a year-on-year increase of 822%, much lower than the plug-in hybrid market of 845% year-on-year growth.
Fortunately, in December, the WEY brand sold 3,512 vehicles in a single month, a year-on-year increase of 15449%, the growth rate is gratifying. However, compared to the head, the difference in volume is visible to the naked eye.
According to the December 2023 SUV (plug-in hybrid) sales list of Chedi, the top three products are Song Plus-DMI, Song ProDMI, and Tang DM-i, with corresponding sales of 30,525, 27,812, and 11,381 units.
Surrounded by strong enemies and changing senior executives on the other hand, Great Wall Motors is aware of its predicament.
In May 2023, Great Wall Motors reported BYD in its real name, suspecting that some of the other party's models use atmospheric fuel tanks, which will lead to substandard evaporative pollutant emissions.
Subsequently, at the Great Wall Tank 500HI4-T press conference, Liu Yanzhao, CEO of the tank brand, sarcastically looked up to the U8, "spinning in place and floating on the water is the practice of playing the side ball, and it is to pretend to be confused."
On August 9, 2023, when BYD's 5 million new energy vehicles rolled off the assembly line, it shouted the slogan "Together, we are Chinese cars".
On August 11, Wang Yuanli, CTO of Great Wall Motors, shared an article titled "What is the correct posture of Chinese cars together" on his personal Weibo. and quoted the content of the article: "If you just emphasize being together verbally, it must be honey in your mouth and arsenic in your heart, so it's better to fight first and then be together." ”
This move has also been interpreted by some ** as a discord between Great Wall Motors and BYD.
There is no evaluation of what is right and which is wrong, and time is left to answer. What can be experienced is that the voice of Great Wall Motor's executives is getting louder and louder.
Industry analyst Sun Yewen said that with the withdrawal of national subsidies and the emergence of new products, the new energy vehicle market ushered in a knockout competition. Great Wall Motors has always emphasized that it is a restrained technical faction, in the face of the gimmicky product promotion of its peers, as well as the popularity of the brand founder's IP, the Great Wall executives frequently speak out for no other purpose, that is, to improve the product, so that more consumers pay attention to the Great Wall, and by the way to maintain the brand image.
The problem is that the volume of voice is not equal to the volume of orders, and in order to make consumers willing to place orders, Great Wall Motors also needs to think about how to innovate with characteristics and stick to the market with ingenious product experience.
2025 strategic ambition still needs a few fires
Over the years, good technology and good products have always been the brand label of Great Wall Motors. Behind it is inseparable from the family Wei Jianjun.
Baoding locals once described Wei Jianjun as having the "three nos" principle - not deviating from his original intention of making cars, not deviating from his love for cars, and not deviating from his homeland. Some even call it a "pure car builder".
Quality in the details! According to an article on the official website of Great Wall Motors, every Thursday, Wei Jianjun will participate in the Great Wall Motors product review meeting. This habit has been almost uninterrupted since the founding of the Great Wall.
However, the stars have changed, the times have changed, and the new energy wave has swept down, but Wei Jianjun has become a little stunned and even confused. On November 9, 2023, at the 2023 Wuzhen Coffee Club Car Night Talk Event, Wei Jianjun asked the soul of car making: "Is high-quality development just squeezed on one track, and one death counts as one?" ”
As early as 2020, Wei Jianjun talked about the corporate crisis and the company's transformation. In June 2021, Great Wall Motor released a 2025 strategic plan: by 2025, it will achieve three major development goals, that is, global annual sales of 4 million vehicles, 80 new energy vehicles, and revenue of more than 600 billion yuan.
As of the end of 2023, there is still a big gap in the actual data. Taking WEY and ORA as examples, as an important starting point for new energy transformation, the annual sales accounted for only 1218%。With two years left, how difficult is it to get your wish?
The reason why the above goals are shouted is supported by logic.
On the one hand, as early as 2018, Great Wall Motors released the pure electric brand Ora, which was once popular with the product positioning of female consumers; On the other hand, Great Wall Motors has been developing power batteries internally for a long time. In 2018, with the independent operation of the project, the international power battery giant Honeycomb Energy also showed its glory.
As we all know, there are three major difficulties in the manufacture of electric vehicles, namely motors, batteries and electronic control. The Great Wall has not only created a popular product, but also made up for the shortcomings of the battery. The actual process is slow, and the difficulty is in the **?
Industry analyst Wang Tingyan believes that brand positioning and product strength are all considerations. Taking Ola as an example, anchoring the target audience to independent women is a double-edged sword, which naturally isolates male consumers into sales shortcomings. Referring to the previous period to create products designed by others, there are very few successful ones. If you want to sell big, you need to reposition. At the same time, some quality control flaws also remind enterprises to check and fill in the gaps in a timely manner and consolidate the reputation fence of experience.
It's not too demanding. Taking 2021 as an example, shortly after the release of the 2025 strategic plan, according to the Red Star Capital Bureau, due to multiple charging spontaneous combustion, some charging stations in Taiyuan, Shanxi Province have blacklisted Ora IQ. Soon after the news broke, Great Wall filed a recall plan with the State Administration for Market Regulation.
Although the company told ** that the reason for the recall is not related to the production of BMS hardware and software, but only related to the formulation of control strategies, the specific proportion of responsibility will be negotiated and communicated by Great Wall and Funeng. Kefuneng Technology does not seem to want to "wade into troubled waters", and announced at that time that it only recalled the modules on the vehicle.
At the end of the same year, Euler also broke out the "core change door". According to Red Star News and other ** reports, some car owners reported that the Ora Good Cat said that the car machine system used Qualcomm 8-core professional vehicle specification chips. However, the actual car uses Intel chips produced in 2016.
This "old" chip not only affects the response speed of the car machine, but also cannot be compatible with the current mainstream APP. To this end, consumers have launched a campaign to defend their rights. In the end, according to Phoenix Weekly, Oura insiders revealed that we took a very sincere attitude to solve this matter and paid a price of 400 million yuan.
Indeed, the price is not small, which once again confirms that quality control is as big as the sky. However, browsing the car quality network, some recent quality service questions are worthy of vigilance of enterprises. For example, on January 25, 2024, the numbered 1097356 shows that a 2019 travel version of the Ora IQ user complained: the product has insufficient mileage, and the battery life of the 410 can now run 169, which is a stock car.
On January 24, the numbered 1096783 complaint showed that a 2019 travel version of the ORA IQ user complained: the same charging pile takes twice as long as other cars; The battery is marked with a range of 410 kilometers, but the actual battery is less than 270 kilometers in summer and about 200 kilometers in winter. And no matter how long and steep the slope is, there is no energy ** function.
(The above complaints have been reviewed by the platform).
Objectively speaking, it is not realistic for everyone to be satisfied, and the above complaints may be biased and one-sided. However, on the C-side, there is no shortage of substitutes in the market, especially in the automotive industry, which has always emphasized word-of-mouth and strong experience. Glimpse the leopard, is there any omission to fill in the gaps?
Ordered by the "Iron Lady" in danger
At the helm of Xiaopeng this year
Looking back on the history of Great Wall Motors, SUVs and pickup trucks are the two major grasps. In addition to Wei Jianjun's strategy, Wang Fengying, the mainstay, is also inseparable.
According to public information, Wang Fengying joined Great Wall Motors in 1991 and served as general manager for many years. Because of her distinctive personality, tough style and strong work ability, she is known as the "Iron Lady".
At the level of division of labor, he and Wei Jianjun, one is responsible for the strategic planning and marketing of the Great Wall, and the other is responsible for technology and the first chain, which can be described as a tacit understanding.
is such a wise veteran, but suddenly resigned in July 2022. At that time, the situation of Great Wall Motors was not good, the sales of the main product Haval declined significantly, and the Wei brand of the high-end series was not satisfactory.
Combined with the many changes of CEO of Wei brand, Wang Fengying's resignation was once hotly discussed. There is no evaluation of what is right and which is wrong, but what is certain is that gold can shine everywhere.
On January 30, 2023, Xpeng Motors officially announced that Wang Fengying officially joined as president, fully responsible for the company's product planning, product matrix and sales system, and reported to He Xiaopeng.
According to Jiemian News, an analyst familiar with Wang Fengying said that Wang Fengying values her own value and is unwilling to be a professional manager who is "icing on the cake", unless she sees room to play. Judging from the follow-up work mode of He Xiaopeng and Wang Fengying, the former not only gave the latter room to play, but also learned a lot from the latter.
Indeed, in 2022, Xpeng Motors just recorded the largest loss of the year, and the annual sales target completion rate was only 483%, the growth rate is lower than the industry**. Wang Fengying's succession was quite critical.
After joining the company, Xpeng Motors has undergone frequent changes, integrating internal sales channels, merging two sets of management structures of direct sales and authorized dealers, and redividing the original four theaters into 24 sales areas. It will be reduced to 12 in September 2023. At the same time, Wang Fengying also began to lead the "Jupiter Plan" internally, gradually replacing the direct sales model with the dealer model.
Secondly, Wang Fengying reshaped Xpeng's product label. According to a later report, its first appearance in front of internal middle and senior executives clearly mentioned that "it is necessary to focus and strengthen the user's perception of Xpeng's intelligent driving tag." ”
For example, after the G9 turmoil, the new G6 launched by Xpeng Motors focuses on the intelligent label, and all 5 configurations are equipped with intelligent driving functions as standard.
According to CNMO, Xpeng Motors officially announced that Xpeng G6 sold 44,545 units in the first half of the year, and was crowned the annual champion, ranking first in the sales of more than 200,000 new pure electric vehicles. Officially, G6, as a masterpiece of ceiling-level intelligent driving, hard-core safety, and leapfrog space, is a well-deserved "200,000-level intelligent pure electric true benchmark".
Moreover, Wang Fengying is also eyeing the stubborn problem of cost management. Due to the lack of professional executives related to automotive hardware, it is wasted in basic links such as the first chain and cost control. According to 36Kr, Xpeng Motors has a large number of repeated cost inputs in production line construction, engineering development, sample procurement, verification testing and other links.
In the third quarter of 2023, Xpeng's gross margin was -27%, negative gross profit for the third consecutive quarter. The cost of a single bike is 20230,000 yuan, with a loss of 6,000 yuan for each car sold. So much so that Wang Fengying used "casual and rough" to evaluate Xiaopeng's cost control.
The solution to this problem is to let high-quality, long-term cooperation with the best business "on a variety of vehicles or even most models", increase the order size to reduce costs and improve stability. For example, the joint procurement of Xpeng Motors and Volkswagen will help the former reduce procurement costs by up to 10%.
At present, the control effect has been initially reflected in the price of new cars. The 2024 Xpeng G9 has been significantly streamlined, and the starting price is 4 percent lower than that of the first-generation model60,000 yuan; The Xpeng X9 has the best advantage in MPV models of more than 300,000 yuan, and the actual order sales exceeded expectations.
Once again, the market vitality was revealed, and the biggest contributor was undoubtedly Wang Fengying. This is inevitably exciting, if Wang Fengying is still serving in the Great Wall, will the latter's situation be better?
The loss exceeded 9 billion, and the annual sales did not meet the standard
Quality control needs to be strengthened
Of course, there is no such thing as perfection in the world, only perfection.
Looking at the changes of Xiaopeng Motors this year, there are many happy changes, but it is difficult to say that there is no peace of mind, and there is a long way to go before it is reborn and strong.
If you want to ask which ** section of the new energy vehicle market is the most volatile? It is undoubtedly 200,000-300,000. There are not only new forces such as Xiaopeng, Ideal, and Wenjie, but also joint venture brands such as Volkswagen, BMW, and Toyota, as well as traditional domestic giants such as BYD and Geely. The products are becoming more and more charming, and the competition for enterprises is more like a gladiatorial duel.
If Xpeng Motors wants to stay at the last table, the top priority is to solve the dilemma of quickly increasing volume and turning around losses. In the first three quarters of 2023, Xpeng Motors suffered a loss of 902.8 billion yuan, nearly the annual loss in 2022. From 2019 to 2022, Xpeng Motors lost 464.3 billion yuan, 48900 million yuan, 48$6.3 billion and $9.13.9 billion yuan.
For the full year of 2023, Xpeng delivered a total of 141601 vehicles, a year-on-year increase of 17%. After exceeding 20,000 units in October, deliveries continued to increase for the third consecutive month, reaching 20,115 units in December. However, due to the sluggishness in the first half of the year, the annual delivery volume was at the bottom of Wei Xiaoli, even less than Leapmotor, and the growth rate of 17% was also the lowest among the four. It is nearly 30% short of its target of 200,000 units.
The good news is that the Volkswagen Group invested in Xpeng Motors last year, and the company's book capital is also healthy. As of the end of June 2023, cash and cash equivalents were 2880.4 billion yuan, which can still cover up to 234 in the same periodCurrent liabilities of $3.2 billion. It's just that a discerning person can see that external blood transfusion is only an expedient measure, and if the above-mentioned high increase and loss continues, there is a question mark over how long Xiaopeng can support it.
How to improve self-hematopoiesis? Industry analyst Sun Yewen believes that in 2024, if it wants to fight its way out of the fierce competition, Xpeng Motors will still focus on sales, gross profit margin and product strength. Among them, product strength is fundamental, the market for good products will speak, and the increase in sales volume can also dilute fixed costs and improve the overall gross profit margin.
It's not too demanding, and some of the recent skepticism deserves the attention of senior management.
According to Blue Whale Finance, on December 21, 2023, Xpeng Motors said that it would stop producing its G3 and G3i within the year, and the news sparked heated discussions as soon as it came out.
Some consumers believe that Xiaopeng Motors' discontinuation of old cars is irresponsible to old users. They are worried that Xpeng Motors has changed its technology platform, and older models such as the G3 and P7 may face problems such as insufficient accessories, poor follow-up software updates, and maintenance personnel who do not understand the product.
Earlier, some old Xiaopeng car owners also criticized the brand's urban assisted driving landing plan.
On October 24, 2023, at the Xpeng Motors Technology Day, He Xiaopeng said that according to the plan, 50 cities will land Xpeng Motors urban assisted driving within the year. However, hundreds of Xpeng P5 owners found that the P5 compact sedan equipped with LiDAR they purchased was no longer available in the model, and the overall technology update promised by the company was also slow, and they hoped that the manufacturer would compensate for it.
In this regard, Xpeng replied that it will continue to be updated in the future, based on the consideration that the opening of NGP in P5 cities is affected by many objective factors. In addition, xpilot3. has been obtained for the target as of 16:00 on November 3, 20235The current owner of the Xpeng P5P version of the intelligent assisted driving software has specially launched a voucher worth 20,000 yuan for intelligent driving, so that Pengyou can experience the most cutting-edge intelligent assisted driving technology and products faster.
However, some careful netizens found that the above-mentioned voucher rights and interests have a scope of application. Current owners of the P5P version can only redeem the Xpeng G6, P7i, G9, and X9 models equipped with the XNGP intelligent driving assistance system when purchasing the Xpeng G6, P7i, G9, and X9 models equipped with the XNGP intelligent driving assistance system.
As of January 31, 2024, browsing the Cheqq.com, there is no shortage of doubts about the quality and service of Xpeng's products. For example, the complaint with the number 1097100 on January 25 shows that a user said that the 2023 580 long-range Pro Xpeng G6 was driving with wind noise, and the doors and windows were leaking.
For another example, the complaint 1096368 numbered on January 24 shows that a user said that the owner of the 2020 670E said that the vehicle was hit and placed in the 4S store for a year, and the 4S store did not maintain it in accordance with the power battery maintenance, resulting in serious damage to the power battery. If the mileage standard cannot be reached, the 4S shop should be responsible for repairing or replacing the power battery.
(The above complaints have been reviewed by the platform).
Gold and silver cups are not as good as user reputation. He Xiaopeng invited Wang Fengying to take the helm, and with more energy, he obviously wanted to strengthen quality control. Only by being down-to-earth and serving every customer well, Xiaopeng can have more confidence in the volume, turnaround and fierce battle to the final chapter.
Breakthrough and breakthrough waiting for the transformation surprise
Looking at the new energy vehicles, after the early staking and extensive expansion, the theme of the second half of the knockout competition is high-quality wrestling, fighting, fighting, cost-effective, quality-price ratio in the ultimate involution has become the key to victory.
In the same business environment, Xpeng Motors and Great Wall Motors face similar problems and have similar solutions. In Shoucaijun's view, Great Wall Motor's cost control and refined management are what Xiaopeng wants to learn; The product definition and technical direction of Xpeng are what Great Wall Motors wants to learn from.
Finding the problem is a prerequisite for solving the problem. It is gratifying that the two companies that have gone through ups and downs have the ability to evolve the crisis and seek change, and strategically strategize.
Let's take a look at Great Wall Motors, in addition to having vehicle manufacturing capabilities including new energy batteries, it has also successively laid out hydrogen power development, chip development, intelligent driving, etc. Thanks to the continuous deployment of core technologies such as hybrid, pure electric and hydrogen energy, the potential energy of technology has begun to be released, and a complete set of forest ecosystems has been formed.
At the beginning of 2023, at the Intelligent New Energy Dry Goods Conference, Great Wall Motor put forward the proposition of "returning to the essence and equal rights in science and technology", striving to make the road of new energy transformation wider and wider. Looking back on the whole year, the company has continued to produce new products, such as the Tank 500 Hi4-T and the Tank 700 Hi4-T based on the off-road super hybrid architecture. In 2022, based on the lemon platform, the Haval H6 new energy will be built, with a pure electric range of 201km.
At the same time, Great Wall also has core products and services such as Coffee Intelligence, Coffee Smart Cockpit System (Coffee OS), Coffee Intelligent Driving System (Coffee Pilot), Coffee AI Cloud, and Coffee Electronic Architecture (Coffee EEA), which can provide global intelligent solutions for the whole vehicle.
Looking to the future, relying on R&D resources and industrial system construction capabilities, Great Wall has completed the independent development of core components of hydrogen energy systems, and has become the only enterprise in China with the core technology layout of the whole hydrogen energy industry chain. The full-scenario solution of "hydrogen power system" is "hydrogen lemon technology", including hydrogen power platform, stack platform and hydrogen storage platform. With the continuous increase in the development and utilization of hydrogen energy in China, its value potential is expected to continue to be released and become a new curve for enterprises.
Looking at Xiaopeng Motors again, after Wang Fengying takes the helm, He Xiaopeng can devote himself to the research and development of intelligent driving technology.
Electrification is the first half, and intelligence is the second half. With the gradual deepening of the knockout round, whoever takes the lead in building advantages in the field of intelligent driving will be able to better survive in the big waves of the new energy vehicle market.
Take Xpeng G6 as an example, which is used as SEPA2The first product under the 0 Fuyao technology architecture, the core competitiveness is the industry's only mass-produced XNGP full-scene intelligent assisted driving. At the new product launch conference, He Xiaopeng even regarded the release of the G6 as the "iPhone moment" of the electric vehicle industry.
According to He Xiaopeng, the XNGP created by Xpeng Motors does not rely on high-precision maps, but relies solely on perception to complete assisted driving in cities and other scenarios. With the implementation of L3 autonomous driving in various places, Xpeng's potential energy enhancement in the future cannot be underestimated.
At the same time, with the adjustment of the organizational structure and product structure of the enterprise, the sales volume of Xiaopeng market has gradually entered a state, and the continuous increase since October last year has brought a lot of reverie to the industry. If this trend can be continued in the future, there is hope for performance reduction and even eventual turnaround, after all, scale effect is the only way to get rid of the deficit.
On the other hand, new business brings new growth points. In August 2023, Xpeng Motors and Didi Chuxing reached a strategic cooperation. The two companies are expected to launch an A-class smart electric vehicle called MONA this year.
According to Xpeng Motors, the launch of MONA cooperation will further strengthen the technological competitive advantage of Xpeng's products in the A-class market, make intelligent driving technology the standard in the most mainstream market segments, and accelerate the implementation of inclusive technology and intelligent equality.
It is not difficult to find that Xiaopeng and the Great Wall both have traditional disks and new disks, and there is no shortage of breakthroughs to eliminate various difficulties.
In 2023, China will export 4.91 million vehicles, surpassing Japan for the first time and becoming the world's largest automobile exporter. Standing at the historical node, all practitioners must be full of emotion, from scratch, from weak to strong, full competition, full learning, full evolution, never say die and never satisfied, this is the secret of China's automobile industry all the way to counterattack.
Similarly, I believe that the difficulties of Xiaopeng and the Great Wall are also staged. The rivers and lakes are still undecided, and you and I are dark horses. In the reshuffle and remodeling, everything is possible, and it is difficult to judge the hero for a moment.
Lu Xun once said: "The future is far away and very dark, but don't be afraid." There is a way in front of those who are not afraid. "In 2024, can Great Wall Motors and Xiaopeng Motors be brave and bring a transformation surprise?
This article was originally written by Shoucai