Recently, the Anhui Provincial Department of Ecology and Environment released the "Environmental Impact Report on the Construction Project of JAC with an Annual Output of 200,000 Medium and High-end Intelligent Pure Electric Passenger Vehicles", which further disclosed the specific details of the cooperation between Huawei and JAC Motors to build cars.
According to the report, JAC has planned a construction project with an annual output of 200,000 medium and high-end intelligent pure electric passenger vehicles, with a total investment of 39800 million yuan, the products are mainly medium and large pure electric DE, X6 platform products. Among them, the X6 pure electric platform is a luxury new energy platform, and the covered models are large and medium-sized MPV models, which will be empowered by Huawei's intelligent technology to actively seize the domestic high-end market.
Affected by this news, JAC's stock price on March 5 was **768% to 1655 yuan.
01 The project landed in Feixi
In recent years, Huawei's cooperation with JAC to build a car has attracted wide attention from the outside world.
In December last year, JAC issued an announcement saying that the company signed the "Intelligent New Energy Vehicle Cooperation Agreement" with Huawei terminals, and the product development of cooperative models is generally responsible for JAC, and JAC is responsible for building a production base to achieve the delivery of cooperative models. At the same time, JAC agrees that Huawei terminals or a third party designated by it will exclusively provide sales services for cooperative models worldwide.
Subsequently, the JAC high-end new energy vehicle base project, which focuses on the R&D and manufacturing of high-end new energy vehicles, gradually surfaced. In February this year, Feixi County, Anhui Province held the second meeting of the county's four major teams in 2024, including analyzing and judging the completion of important nodes, arranging and deploying key tasks such as accelerating the construction of JAC's high-end new energy vehicle base.
Among them, it is clearly stated that it is necessary to enhance development confidence, accelerate the implementation of industrial projects, urge the early start of projects under negotiation and the early commissioning of projects under construction, accelerate the construction of JAC's high-end new energy vehicle base, fully support JAC and Huawei to deepen cooperation, and take multiple measures to expand investment and increase production capacity.
With the release of the report, it also further confirms the new energy vehicle base project mentioned in Feixi, that is, the automobile manufacturing project jointly carried out by JAC and Huawei, and the project address is the intersection of Lianhua Road and Jianghuai Avenue in Xingangnan District, Taohua Industrial Park, Feixi County.
The reason why JAC's and Huawei's car manufacturing projects landed in Feixi is also because of Feixi's advantages and potential in the new energy vehicle industry. At present, the county has successfully attracted nearly 100 upstream and downstream automobile enterprises, including Fuyao Group, Joyson Safety, China Merchants Automobile Research, Huating Power, Youpao Technology, and Adient Ningbo Huaxiang, and the complete industrial chain can provide rich industrial resources and supporting support for JAC's and Huawei's new energy vehicle projects.
02 Cooperative models look up to the benchmark?
According to the previous agreement between JAC and Huawei, in view of the successful experience of Huawei terminals in creating high-end products in the user field, JAC will join forces with Huawei terminals, complement each other's advantages, and strive to build luxury intelligent networked electric vehicles, which also means that "luxury + high-end + intelligence" will be the keynote of JAC's high-end new energy vehicle base factory models.
According to JAC's plan, its new project in Feixi is mainly used to produce medium and large pure electric DE and X6 platform products, covering C-class sedans, B-class cars, A+ class SUVs, B-class SUVs and MPV models.
Specifically, the DE pure electric platform is a new energy exclusive platform, which mainly meets the needs of the domestic economic and improved market needs, and its products cover B-class cars, C-class cars, A+ SUVs and B-class models. Among them, B-class sedans and A+-class SUVs are aimed at basic users, mainly first-time buyers. C-class sedans and B-class SUVs are aimed at upgrading users, mainly for product advancement.
The X6 pure electric platform is a luxury new energy platform, covering medium and large MPV models, and is the exclusive platform of the Huawei and JAC co-brand. At present, the platform has planned an MPV product, with a length of 5200mm, a wheelbase of 3200mm, and a planned annual production capacity of 350,000 units. With the launch of this model, the product line structure of Huawei's smart car will be further supplemented, and JAC's product tonality and brand positioning will also be greatly improved.
However, the annual production capacity is 3The scale of 50,000 units may also indicate that the MPV models jointly launched by Huawei and JAC are likely to surpass similar models such as the Ideal MEGA and Denza D9 in market positioning. After all, if its positioning is low, its annual production capacity of about 30,000 units may be difficult to meet its potential sales demand. Generally speaking, only high-end models positioned in the million-level will have a relatively low demand for production capacity.
Strategic cooperation with Huawei, high-end cars benchmark BYD Wangwang series. Some industry insiders said to the "steam" that 5A 2-meter length is not a big one for an MPV, and since the size is mediocre, it must be technically excellent. Huawei's HarmonyOS intelligent concept is a major driving force to promote the intelligence level of JAC automobiles. At the same time, the global sales and service of JAC's main product development and Huawei's terminals or designated third parties have actually given the market great confidence.
In addition, a person familiar with the matter also revealed that after the launch of the cooperation model between the two sides, the relevant sales revenue will be included in JAC's revenue project. Last year, the gross profit margin of JAC's main business increased by 3 percentage points, and the net profit is expected to be 13.6 billion yuan, compared with -158.3 billion yuan, an increase of 10859% to turn losses into profits. Now, with the deepening of the cooperation between the two sides, JAC's revenue is also expected to achieve further growth.