In terms of new forces this week, Jiyue Automobile disbanded several business teams, CEO was besieged in the company, and Baidu audit found a shortfall of more than 7 billion in internal finance and cancelled the investment or the main reason.
Another new power, Nahan Automobile, also changed its CEO because its business was not as expected, admitting that management problems started a second venture.
Xiaomi YU7 listing, the standard Model Y, may divert some SU7 users.
In terms of suppliers, Huawei’s BU spin-off is about to be completed, or New Year’s Day will start in 2025.
Huawei and Ningde Times will seize the share of traditional foreign car suppliers and reconstruct the industrial chain.
In the Ningde era, a third factory was built in Europe, and Chinese batteries have become an important bargaining chip in China-EU negotiations.
For foreign enterprises, Volkswagen Group labor negotiations failed for a second strike, and the resistance to layoffs extends far beyond the trade unions.
Although twice as much as Toyota’s massive R & D spending, Volkswagen has been left behind in the new energy transformation because of misdirection and inefficiency.
On the industry side, China’s car sales hit a record high in November 2024, the replacement subsidy policy was successful, private growth and unit car purchases declined, but exports continued to decline.
, 
, I.
Industry events, 1.
CEO of Jiyue Automobile is besieged, Baidu divestment may be the main reason, 1.
CEO illegal use of suppliers, suspected corruption was besieged by employees, 2.
The main reason for the collapse was Baidu’s divestment and a bad internal financial account.
on the afternoon of December 11, Xia Yiping, CEO of Jiyue Automobile, communicated with all the employees by videoconference, saying that the company was experiencing difficulties and needed immediate adjustment, that the company would enter the 2.
0 stage of starting a business, and the management would go all out to tide over the difficulties with all the employees.
On the evening of December 11, Jiyue Automobile officially said that it was coordinating various resources to meet the challenges and was actively promoting financing.
, expand reading: 1.
Is Entrepreneurship 2.
0 a New stage of Development or an excuse for the dissolution of the Company? , a.
People in the marketing business of Ji Yue: startup 2.
0 is a statement packaged by the company, and HR communicates with employees about the follow-up plan after the video conference.
The specific plan is to choose one of the two, that is, employees either take the initiative to leave and compensate Never1, there is uncertainty in the time of payment, or stay on without pay.
In other words, it is “explosion in place”, he said. , b. Market news: the sales teams in more and more provinces are all disbanded.
Ji Yue pays last month’s salary on the 15th of each month.
Several employees said the company paid wages as usual in November, but did not pay social security for employees.
“people don’t check social security very often,” an employee said.
“many people didn’t notice it before, but they didn’t realize it until the last few days.
” CEO was besieged by employees because of corruption and other problems. A. From 11th to 12th, rumors about the illegal use of suppliers by CEO Xia Yiping, suspected of corruption, and emigration of family members to Singapore began to spread among employees and social media in Jiyue.
On December 12, Xia Yiping was besieged by employees in his Shanghai office. , 3. Jiyue Automobile is the product of the cooperation between Baidu and Geely. A. In March 2021, Baidu and Geely jointly formed Jidu Automobile Co., Ltd., with a shareholding ratio of 55% and 45%.
Geely Holdings Group will take advantage of its advantages in research and development, manufacturing and supply chain management, and will be responsible for manufacturing.
Baidu Group will provide support in intelligent cockpit, intelligent driving and AI technology.
However, due to the problem of production qualification, the two have to be transferred. , b. In August 2023, Geely Holdings Group released the new car brand “Jiyue”.
The entity company is registered in Hangzhou, Zhejiang Province, replacing the Jidu car set up by both sides two years ago to become the new main body of car construction. , 4. Jiyue Automotive entity is Hangzhou Jieyue Automotive Technology Co., Ltd., which was registered and established on August 9. , a. Industrial and commercial data show that the company is 65% owned by Zhejiang Geely Industry Investment Holdings Co., Ltd., and 35% by Shanghai Power Aviation Automobile Co., Ltd., owned by Baidu.
The legal representative is Zhang Quan, senior vice president and CFO of Geely Holdings Group, and the general manager is General Manager Jidu and CEO Xia Yiping. , b. Xia Yiping is the former co-founder of mobike. , c. Baidu and Geely hold 48% and 38% of the shares in Jiyue, Baidu has more than 80% of the voting rights, and four board seats, and Geely has one board seat. , 5. The main reason for the collapse is Baidu’s divestment, a.
The main reason for the collapse is Baidu’s divestment.
In October this year, the company sent a financial team to prepare for the subsequent 3 billion investment: “as a result, it was found that there was a financial hole of up to 7 billion, and decided not to continue to invest.” , b. Baidu did not disclose the financial problems after sending the internal audit team to Jiyue in October, but pointed out the process problems, including the lack of rigorous acceptance of the activities: “the company submits its monthly financial statements to Baidu, and the financial tension does not arise recently.
But Ji Yue has always believed that Baidu will continue to invest.” , 6. The more Geely is in arrears, the contract manufacturing business has stopped, a.
Geely charges a fee for producing cars for Jiyue Motors.
Geely has stopped sending cars because of arrears, and the contract manufacturing business did not stop until two weeks ago. , b. A public relations firm who has served Jiyue said that his company will no longer serve Jiyue in 2024, but at present there are still tens of millions of unremitted funds, and the company is going through legal procedures. , 7. At present, Jiyue has launched two models, with monthly sales of 2,000, a.
Ji Yue Motor currently launches two models, Ji Yue 01 and Ji Yue 07.
Ji Yue 01 begins delivery in October 2023, and Ji Yue 07 begins delivery in September 2024.
In August 2024, the monthly sales of
,, b.
2024 exceeded 2000 units for the first time.
in the first 11 months of 2024, the company sold a total of 14000 units.
, 
, essay:, backed by Geely and Baidu, Jiyue Motor is “born with a golden spoon”.
But at present, with the fierce competition in the market, new energy car companies have entered the knockout stage, and there is not much time left for Jiyue cars.
The current situation of Jiyue is a microcosm of the knockout stage of new forces.
For every car company trying to survive in the competition, clear market positioning, optimization of management efficiency, continuous innovation is fundamental.
The collapse of a car company affects not only the employees of the company, but also upstream and downstream suppliers, and customers who buy a car also face the problem of follow-up service.
From the perspective of industry development, this process helps to optimize the allocation of resources and enhance the overall competitiveness.
With the withdrawal of inefficient brands from the market, the remaining enterprises will have more opportunities to concentrate resources on developing new technologies, optimizing product quality, and promoting the new energy market to be more mature and healthy. , 2. Xiaomi YU7 listed, standard Model Y, may divert some SU7 users, 1.
Goldman Sachs believes that in terms of size, performance, battery life and priceThe case has an advantage over the same level, 2.
For standard home users, Xiaomi’s current advantage is not obvious and may divert some SU7 users.
On the evening of Monday, Dec.
9, Xiaomi posted a picture of Xiaomi’s first SUV on social media for the first time, officially introducing Xiaomi’s new member, Xiaomi YU7, and said that the new SUV car is expected to go on sale in June and July next year.
Lei Jun said on Monday that the reason for announcing the YU7 so early is that Xiaomi hopes that the YU7 test car can remove the heavy camouflage as soon as possible, which will help the company to do more comprehensive and meticulous long and large-scale tests to ensure product quality and make better products.
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Goldman Sachs believes that YU7 has advantages over similar SUV models in the following aspects: a.
Size: the size of the YU7 is 4999Universe 1996 SU7 1600mm (30mm wider and 150mm higher) and the wheelbase is 3000 mm (the same as the SU7), which makes the YU7 the largest wheelbase length of its kind in SUV models.
, Model Y, its body size is only 4750/1921/1624mm, wheelbase 2890mm, regardless of length, width or wheelbase, Xiaomi YU7 size is larger.
The overall size of the YU7 is closer to the add-on SUV ideal L8, but it is more athletic and lower in height.
,
, b.
Performance / power system: the YU7 has a top speed of 253km / h, close to SU7 Max’s 265km / h, and faster than comparable SUV models.
The YU7 will be equipped with dual motors with a total power of 508kW, even higher than the SU7 Max.
The new Tesla Model Y currently has no specific power parameters, with reference to the current Model Y Performance high-performance version of the maximum power of 486hp. , c. Mileage: although details on mileage support have not been disclosed, the YU7 will be equipped with CATL ternary lithium batteries (compared to SU7/SU7 Pro’s BYD lithium iron phosphate battery and SU7 Max’s CATL ternary lithium battery), weighing 2405 kg.
We believe this means that long mileage support may be a standard feature in different versions of YU7. , d. Price: with reference to the same price competition strategy of SU7 and Model 3, SU7 Ultra and Model S Plaid, the pricing of YU7 is expected to start at 300000.
But given the price logic of SU7, it may be 30, 000 lower than the new Model Y, it’s hard to say.
The new version of Model Y will be launched in early 2025 and will be fully upgraded in terms of appearance and interior decoration and battery life.
Refer to the new version of Model 3, the initial price of which is 28000 yuan higher than that of the old model, and the new version of Model Y is expected to be 20, 000 yuan higher than the current price, and the price of the long-lasting version of the afterdrive may break 300000. , e. Appearance: some media think that it is similar to Ferrari Purosangue, 
, , essay: Tesla Model Y’s historical modification, the lengthening of the rear seat for the sake of family members was once one of the bright spots.
The medium-sized SUV L60, which went on sale this year, is a full lap smaller than Xiaomi YU7, but its second row of legroom has reached 860mm.
And Ledao, next year will also launch the same positioning of the medium and large five-seat SUV.
Xiaomi’s current advantages are not obvious in terms of space and comfort requirements.
However, home users often attach great importance to space.
If there is only appearance and brand power, YU7 may overlap with SU7 and become a model that diverts SU7 customers.
Among the users of Xiaomi brand, it is not difficult for YU7 to get a certain amount of orders.
But if you want to become a real fashion style, YU7 faces more of a market that can’t ignore practicality. , 3. Nashi Motor CEO stepped down, the founder said the company suffered a “short-term shock”, 1.
Zhang Yong left, and Ark has also held the position of CEO, admitting that there is something wrong with the management.
Naha started its second business and took a series of reform measures to strive to make profits the year after next.
On December 6th, Naga confirmed that Zhang Yong, the former CEO, was transferred to the company as a consultant due to the company’s strategic adjustment.
Earlier, Zhang Yong had not made a public appearance or voice for more than two months, and there was continued speculation about whether he had left.
Zhang Yong has been active on social media in the past, and most of his posts are related to which car.
Before he stopped updating social media, Nashi was caught in a storm of public opinion over abnormal salary payments.
Since then, the company layoffs, arrears to suppliers and other news have been exposed.
, expand reading: 1.
Ark has also held the position of CEO, admitting that there is something wrong with its management.
on December 6, Ark, founder and chairman of Najia Automobile, issued a letter to all members of the company.
The registration shows that he has also held the position of CEO. , b. Ark said that in the past two years, the market competition was fierce, and Naha Automobile also exposed problems in its strategy, organization and management system, and the company’s development suffered a short-term shock. , c. Ark has worked in Chery Automobile for many years, mainly engaged in the research and development of new energy vehicles.
In 2014, Ark founded Hezhong New Energy Automobile Co., Ltd. (hereinafter referred to as “United Motor”), and the company began to deliver its first model in 2018.
In 2019, the product brand of Hezhong Automobile was changed to Nezhong Automobile, and the outside world gradually called it Hezhong Automobile. , 2. Nashi started its second business and adopted a series of reform measures to make a profit the year after next. A. In a letter to all members of the company released on December 6, Ark claimed that the company had “passed the most dangerous juncture”. , b. Ark proposed that Nahu Automobile will implement a series of reform measures, including full shareholding.
In order to reduce administrative costs, Naha Automobile will also streamline the middle and background through “optimization and reorganization”, and achieve a more flat and efficient organizational structure of the company. , c. It will strategically focus on products that are more in line with market expectations and have a positive gross profit margin.
In addition to moderate competition at home, Nahu should expand its horizons to overseas markets. , d. The company should strive to promote overseas sales to reach half of the total sales in two to three years, and strive to achieve a positive gross profit margin by 2025 and a profit by 2026. , 3. As a defendant, Hezhong Motor was involved in a number of contract disputes.
United Motor has just added a new lawsuit in recent days.
On December 5, Fushi Holdings (300071.
SZ) announced that its subsidiary Dex Public Relations had filed a lawsuit with the Tongxiang City Court in Zhejiang Province over a dispute over its service contract with Hezhong Motor.
Dex PR requires Hezhong Motor to pay 53.
55 million yuan for the project service contract and related interest. , b. There are also cases in which mediation was successfully reached after the case against United Motor.
Listed company 600081.
SH disclosed in mid-November that its subsidiary Dongfeng Yanfeng Automobile cockpit system Co., Ltd. had reached a pre-lawsuit mediation with Hezhong Motor over the unpaid 12.
73 million yuan in spare parts related fees.
The payment shall be completed by installments in the form of cash plus bank acceptance. , 4. Nezha currently has three factories in China.
Due to arrears, there has been a problem with the supply of spare parts.
Three factories are located in Tongxiang, Zhejiang, Yichun, Jiangxi and Nanning, Guangxi.
Tongxiang factory is its main vehicle production plant. , b. “the company owes a lot of payments to suppliers, and now many parts are out of supply, so production capacity is limited,” an auto insider said earlier. , 5. Nezha’s car sales are dismal, and its exports are bright in the first half of the year. A. in the first three quarters of 2024, the company delivered a total of 85900 vehicles, down 12.
13% from the same period last year.
in the same period, the overall sales of new energy vehicles in China increased by more than 30% year-on-year, and Naha failed to keep up with the pace of the market. , B. since the release of vehicle delivery data for September in early October, Naga has not released monthly vehicle delivery for two months in a row.
However, the company is still trying to convey the message of normal operations to the outside world. , c. During the Guangzhou Auto Show in November, Naha was still handing out free American-style coffee at the booth, or expressing the company’s “nothing” in a homophonic way.
From January to May 2024, Naha exported 16458 new energy vehicles, ranking fifth in the export volume of new energy vehicles, and ranking first in the export volume of new power car companies. , E. in May 2024, the first offline store in Hong Kong opened ceremoniously, opening a new chapter in the global strategy of layout.
In June, the first store of Naha car in Kenya was opened and officially launched in the African market, 
, 6.
2022 was the first new power, the only car company whose sales fell in 2023. A. In 2022, the annual sales of Naha car was 152100, an increase of 118% over the same period last year, achieving the set target of 150000 vehicles.
it maintained 29 consecutive months of year-on-year growth, ranking first in the new power of car-building. , b. In 2023, the annual sales of Nashi cars was 127500, down about 16% from the same period last year, and only 51% of the annual sales target of 250000.
The data ranks sixth among the new forces of car-building, becoming the only brand of new energy cars in the head that “reverses”.
, essay: at present, there is an obvious oversupply in China’s automobile market, the “volume” continues to intensify, and most car companies are miserable.
It is generally believed in the industry that the “knockout” process of the domestic car market may be accelerated, and only a small number of manufacturers will eventually survive.
Industry leader BYD even judged that a “decisive battle” is imminent. , 4. Huawei BU spin-off is about to be completed, or New Year’s Day will start in 2025, and the automobile industry chain will be opened and reconstructed.
For every extra electric car sold by a new energy car company, Bosch EFI parts will lose one point, 2. 5%. Huawei, Ningde era, etc.
, seize the share of traditional foreign car suppliers, reconstruct the industrial chain, 3.
Bosch had refused a joint venture with Ningde Times, decided too hastily and eventually missed the opportunity, and two people close to the car BU mentioned that the attraction plans for New Year’s Day to start operating independently in 2025.
The spin-off of Huawei’s smart car solution business unit (hereinafter referred to as “car BU”) is nearing completion, and its assets will be injected into Shenzhen Watch Intelligent Technology Co., Ltd. (hereinafter referred to as “lookout”).
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Huawei established car BU in 2019, which is Bosch in the era of smart car, a.
It has clearly announced that it will not build cars and will be an incremental parts supplier in the era of smart cars.
Intelligent driving is its core business.
In order to promote intelligent driving and other system software to get on board, Huawei BU launched a deep cooperation program HI (Huawei Inside) that has not been tried in the industry. , B. HI mode means that the products of the cooperative car companies use Huawei’s full-stack smart solutions, especially the smart driving system.
Car BU did not go well at the beginning of the business, and the delivery of the first cooperative model was delayed and missed the popularity of the market. , 2. Huawei BU is a new racetrack opened under the pressure of US sanctions. A. In 2021, Huawei terminals intervened in the auto business under the pressure of US sanctions, hoping to create new sources of revenue.
Huawei terminal has created another deep cooperation model, that is, “smart car selection”. , b. Under this model, car design, definition, development and sales are led by Huawei, and the relevant models also specify the parts that carry the BU.
With the increase in the number of partners, the model was upgraded and renamed Hongmeng Zhixing in November 2023. , 3. Car BU independently dispelled the concerns of the outside world about building cars, and opened the deep binding of equity, a.
Car BU and Hongmeng Zhihang had a period of competition and cooperation.
Driven by Hongmeng Zhixing’s products, outsiders see the technical capabilities of the car BU and want to use the car BU system and components, but they will eventually choose to build the car.
In November 2023, Huawei announced that it would set up an independent company to inject car BU and related personnel assets and open external financing.
In January 2024, the registration was established. , c. The independent operation shows that Huawei’s principle of not building cars is stronger, and Huawei will continue to support it, while hoping to build it into an independent company with an unlimited number of partners. , 4. A number of central car companies have bought shares, and SAIC is also considering, a.
Avita and Cyrus, a subsidiary of Changan Automobile, have confirmed that they will each invest 11.
5 billion yuan and receive a 10% stake each. , b. Chery Automobile, Jianghuai Automobile and other car companies all have stock attraction plans. , c. Recently, GAC GROUP and Huawei BU reached a strategic cooperation, planning to jointly build a new brand.
FAW Group and SAIC Group are potential partners of Automobile BU. , 5. Huawei may have mastered the car-building technology, A.
on November 26, 2024, Huawei announced that Hongmeng Zhixing’s premium model would be equipped with a new generation of smart chassis.
Huawei BU actually has the ability to build cars and has the potential to replace Bosch and ZF as an emerging super supplier. , b. Business covers intelligent driving, intelligent cockpit, etc.
, 
, 6.
Emerging enterprises crowd out the suppliers of traditional foreign enterprises, reconstruct the supply chain, a.
Ningde era has only been established for more than ten years and has been ranked first in the world in terms of power battery installation for seven consecutive years.
At present, the position of Ningde era in the global auto parts industry is second only to Bosch, Zaifu and MAGNA.
, 
, 7.
Bosch early refused to set up a joint venture with Ningde era, and finally missed the opportunity, a.
Shortly after the establishment of Ningde era, customers of car companies set up a joint venture between Bosch and Ningde era to jointly develop and produce automotive power batteries.
Ningde era, the predecessor of consumer battery companies, is not familiar with automotive product standards, and this is Bosch’s strength. , b. Bosch estimated at the time that the power battery would eventually become a standard component, just like the No.
5 battery used in daily life, and its cost was mainly affected by raw materials-these two major factors mean power.
The technical value of pool products is not high. , c. The ownership structure of the Ningde era did not meet the conditions of the joint venture, and Bosch finally decided to give up the battery production business. , d. One out of every three new energy vehicles in the world uses Ningde-era batteries.
Battery has become the automobile engine in the era of intelligent electrification.
For every extra pure electric vehicle sold by a new energy car company, engine-related components such as Bosch’s EFI system will lose one point.
The technological trend shown in the Chinese market will eventually expand to the whole world, and various new technologies will be applied rapidly in China.
If multinational suppliers fail to respond quickly in the Chinese market, they will face a fundamental survival crisis in the future.
Multinational suppliers such as Bosch generally go through multiple economic cycles, and once the direction of business transformation is clear, they will be very decisive in selling or acquiring assets, and they will eventually fight back in the Chinese market.
In the long run, it is impossible for car companies to do everything by themselves.
If the cost of external suppliers is better, there is no need for car companies to develop their own research.
After the intelligent electric vehicle technology tends to mature, external suppliers will still be the mainstream choice.
In addition, in terms of exports, Chinese car companies will seek to build factories overseas in the future, and the Chinese team of multinational suppliers is likely to play a more important role.
Similar cooperation can be reached between Chinese suppliers and multinational suppliers, where Chinese suppliers can avoid risks while multinational suppliers can expand their local market share. , 5. Ningde era landed the third European battery factory in Spain, and Chinese batteries became an important bargaining chip in EU tariff negotiations.
Unlike the previous model of investing in battery factories in Europe, this time it adopts a joint venture model in which each owns 50% shares.
Morocco, opposite Spain, is rich in phosphate rock resources and has a superior location.
Chinese batteries have become an important bargaining chip in China-EU tariff negotiations, leading to a consensus between China and Europe, forming a situation in which Chinese batteries help Volkswagen, BMW, Mercedes-Benz and other enterprises.
on December 10th, Ningde Times signed a contract with Stellantis, the world’s fourth largest automobile group: the two sides each own 50% to form a joint venture company through which 4.
1 billion euros will be invested to build a lithium iron phosphate battery factory in Zaragoza, Spain, which is scheduled to start production in 2026.
Design maximum production capacity 50GWh.
, expand reading: 1.
In the past, there were usually two modes for Chinese battery companies to build factories in Europe: a.
Chinese battery companies have set up independent factories, including endorsements from European customers, namely car companies, and financial support from local governments and investment institutions.
The German and Hungarian projects of the Ningde era, the British, French and Spanish projects of Vision Power, and the German Gottingen factory of Guoxuan Hi-Tech all fall into this category. , b. Led by European car companies, Chinese battery companies provide technical and service support, such as the Volkswagen Salzkite battery factory in Germany, which is provided by Guoxuan Hi-Tech.
Under this model, Chinese enterprises are more like suppliers, only because they are more familiar with battery manufacturing than European car companies, so the existence of Chinese enterprises is more prominent in implementation.
For example, in the bidding for equipment at Volkswagen’s Salzkite factory, Volkswagen used to prefer European suppliers, but after Guoxuan Hi-Tech recommended Chinese equipment suppliers and carefully compared them, most of them chose Chinese equipment.
as a result, there are far more Chinese than Germans at the project construction site. , 2. This cooperation creates a new model for Chinese enterprises to build factories in Europe, with both parties holding 50% of the shares, but it is an old way in China.
Ningde era’s joint venture with car companies to build a factory in Europe is a new model, but its old way of building a factory in China.
Time SAIC, time Guangzhou Automobile, time Geely, time FAW, time Changan and Beijing time are all joint ventures between Ningde time and Chinese car companies, the earliest of which SAIC was established in 2017.
most of these joint ventures are 51% owned by Ningde era and 49% by car companies. , b. Most of the factories built by these joint ventures are located in the manufacturing base of the Ningde era.
For example, the time Geely factory is an important part of the Sichuan base of the Ningde era, and time SAIC is an important part of the Liyang base. , c. However, in Europe, Chinese companies do not have a mature large manufacturing base, so the new joint venture battery factories are located in the mature manufacturing bases of European car companies. , 3. Spain has obvious advantages in producing lithium iron phosphate batteries, a.
Spain has the largest battery capacity in Europe.
Taking into account the 50GWh capacity announced by the government, Spain’s planned battery capacity under construction is close to 200GWh, surpassing Germany and ranking second in Europe after Hungary.
If only lithium iron phosphate battery capacity is calculated, Spain is absolutely in the lead. , b. Morocco is rich in phosphate reserves.
Across the Strait of Gibraltar, Spain is located in Morocco in North Africa, which is only 14 kilometers away.
Morocco’s phosphate reserves are as high as 50 billion tons, accounting for 71% of the global reserves, and most of them are high-quality open-pit mineral deposits with low mining costs.
, 
, , c.
Previously, Moroccan phosphate was mainly used in the production of chemical fertilizer with low added value.
Although it is an important strategic resource related to food security, since Morocco has no domestic production capacity of chemical fertilizer, it can only provide primary resources with low added value. , d. Morocco has attracted the attention of a large number of Chinese battery and upstream companies.
At present, the Chinese battery and upstream enterprises that have invested in Morocco are Guoxuan Hi-Tech, Bertre, Zhongke Electric, Zhongwei shares, Huayou Cobalt Industry, Tianji Materials, Hailiang shares.
Investment projects include positive and negative materials, electrolytes, lithium copper foil, battery manufacturing and recycling, almost covering the entire lithium industry chain. , 4. China’s phosphate rock output accounts for the first in the world, but it is declining year by year, a.
Although China accounts for 40 per cent of global production, it comes from more than 400 phosphate mining companies.
In the past two decades, the phenomenon of over-exploitation of phosphate rock and mining the rich and abandoning the poor in China is serious, resulting in long-term overcapacity. , b. According to the peak production in 2016, it will be exhausted in less than 40 years.
In recent years, with the rectification of environmental protection, both production capacity and output have declined at an average annual rate of 10%, and have now reached a tight balance between supply and demand.
, 
, , 5.
Why is phosphorus source so important for new energy vehicles? , a.
The power battery system accounts for 40-50% of the vehicle cost of new energy vehicles, and most of the battery costs are cathode materials.
At present, there are two kinds of mainstream cathode materials used in new energy vehicles, ternary lithium and lithium iron phosphate.
,
, b.
Although lithium iron phosphate has the disadvantages of low energy density (that is, the same amount of electricity, larger volume and weight) and poor performance at low temperature, it has surpassed ternary lithium in 2021 and has become the mainstream of the market.
2017Ternary lithium battery has been the mainstream of the market in 2020 and was surpassed by lithium iron phosphate in 2021.
, 
, 6.
With the increase in the stock of Chinese cars in Europe and the bankruptcy of Beifu, it is a good time for Ningde era to expand.
Despite the current slowdown in the European and US electric car markets, Ningde Times has already invested in German and Hungarian factories in Europe, and the Spanish plant will be its third European battery plant. , b. Northvolt, a local battery start-up in Europe, recently filed for bankruptcy protection.
Ningde Times said in an interview with the media that it had been in contact with Northvolt and the two sides hoped to reach a technical licensing service, but Ningde Times did not know at that time that Northvolt’s financial situation was already very bad. C. Northvolt is still looking for investors, but its customers are likely to go to Chinese and South Korean battery companies that have set up factories in Europe.
European car companies such as d.
Stellantis Group have come to realize that Chinese electric vehicles using lithium iron phosphate batteries are more cost-competitive and can provide entry-level models at affordable prices.
Many European car companies have begun to use lithium iron phosphate batteries. , 7. Ningde also has the opportunity to enter the American market, a.
Ford and Tesla also like Chinese lithium iron phosphate batteries, and the tax credit for electric vehicles is likely to be scrapped after US President-elect Donald Trump takes office.
But Chinese battery and raw material companies are excluded. , b. If the Trump administration cancels tax credits and encourages Chinese companies to invest locally to create jobs, Chinese companies such as the Ningde era may have access to the US market.
, essay: this joint venture project also needs to be approved by various countries for anti-monopoly approval, approved or filed by the Chinese government and relevant departments, the Spanish government and relevant departments.
There’s a good chance it will pass.
European new energy vehicles have no technology, products and supply chain, and their own products are weak.
If they want to develop, they have to rely on China, and the batteries also rely on the support of Chinese batteries.
Therefore, Chinese batteries have become the bargaining chip of tariff negotiations between China and Europe.
This has led to a consensus between China and Europe in this regard, forming a situation in which Chinese batteries help Volkswagen, BMW, Mercedes-Benz and other enterprises.
If Chinese car companies are not introduced, the development of new energy vehicles will be a few years late, so Europe will certainly ensure the development of Chinese enterprises in Europe and the support of the industrial chain. , 6. Volkswagen passenger cars have been a drag on finance, labor negotiations failed, a second strike, survived numerous crises, can Volkswagen survive this crisis? , 1.
Volkswagen’s problem is that its core brand Volkswagen passenger car brand sales decline resulting in losses, 2. 5%. Volkswagen’s sales in Europe are about 500000 units lower than before the outbreak, equivalent to the size of a large factory, 3. 5%. As the local state government owns 20% of the shares, the resistance to layoffs is not limited to trade unions, 4.
Volkswagen spends twice as much on R & D as Toyota, far more than Tesla and BYD combined, inefficient and in the wrong direction.
On December 10, 2024, German Volkswagen group CEO Oliver Blume said in a speech at Tongji University that Volkswagen Group is in a stage of strategic stability and will enter the growth phase of new energy vehicles from 2026.
Volkswagen hopes to maintain its leading position in the Chinese market and keep pace with 002594.SZ. On December 9, German local time, Volkswagen Group and the trade union held a new round of labor negotiations.
Volkswagen said the talks had made constructive progress, but the two sides had big differences and no solution was reached.
On the same day, Volkswagen Group held a four-hour strike at nine factories in Germany, and Volkswagen Group workers held a strike on December 1.
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Oliver Blume graduated from Tongji University, a.
O’Bomu is a distinguished alumnus of Tongji University.
He received his Ph. D. in Automotive Engineering from Tongji University in 2001. , B. when I was a student at Tongji University more than 20 years ago, the road was full of bicycles and cars were rarely seen, while Wan Gang, Obomu’s mentor at that time, began to study electric vehicles at Tongji University. , 2. Volkswagen Group in optimizing the scale of business in China, before the arrival of a new round of products will be more passive, a.
SAIC-Volkswagen had previously confirmed that it was considering closing its Nanjing plant after a plant in Shanghai had been converted to other uses.
Volkswagen also plans to close several factories in Germany and make large-scale layoffs. , b. By 2027, Volkswagen Group will launch more than 20 new energy vehicles in China, and that number will increase to more than 30 by 2030. , 3. Volkswagen’s problem is that its core brand Volkswagen passenger car brand sales decline, a.
Unlike the Porsche, Audi and Skoda brands of the Volkswagen Group, which still have good profits, the Volkswagen brand is already living beyond its means. , b. Volkswagen’s sales in Europe are about 500000 lower than they were before the COVID-19 outbreak.
This means that factories have overcapacity and workers do not have enough work. , c. According to Volkswagen management, the loss of 500000 vehicles is roughly equivalent to the capacity of a larger factory.
As fewer cars are produced, fewer parts are needed to assemble cars, which will also affect the survival of factories that produce parts. , d. Germany has one or two production plants with long-term negative growth, which has been masked by high profits in China for a long time.
Today, the coverage of new energy vehicles in the Chinese market has exceeded 50%, while Volkswagen has failed to keep up with such a fast pace in electrification, and Volkswagen’s market share is shrinking. , 4. Cutting expenditure is the way out.
The union proposed to set up a fund but was rejected. A. Volkswagen management’s plan is divided into two parts: closing at least three of the 10 factories in Germany and cutting 10,000 jobs. b. All employees will have their salaries cut by 10% and will not get a raise for the next two years.
Some salaries have been cut by as much as 18%. , c. The plan put forward by the trade union is to set up a future fund worth 1.
5 billion euros, funded by the temporary withholding of rising salaries to employees, the reduction of working hours, and the abandonment of dividends by management to replace factory closures and layoffs, as well as a pay rise.
But Volkswagen management rejected it on the grounds that it could not solve the problem of financial pressure in the long run. , 5. Whose fault is Volkswagen’s problem? Who is responsible? , a.
Cavallo, chairman of the enterprise committee, believes that the problem lies in the lack of a clear strategy for management, not the workers. , b. In the union’s view, management has made serious decision-making mistakes in the transition to electric cars, products and prices.
As a result, the trade union not only never picked up.
Subject to the management’s job cuts and salary reduction plans. , c. Fratzscher, director of the German Institute for Economic Research (DIW), believes that the dilemma stems from mistakes made by Volkswagen management.
He believes that in the past 15 years, Volkswagen has made three big mistakes: diesel doors, over-reliance on the Chinese market and slow electrification. , d. Fratzscher supports layoffs: factory closures and the elimination of job security are designed to make Volkswagen competitive in the future.
In the long run, protecting 80% of the jobs in the auto industry is better than putting 100% of the jobs at risk.
Employees who have lost their jobs at Volkswagen will find new jobs elsewhere and create new opportunities for economic development. , 6. Volkswagen Group spends twice as much on R & D as Toyota, but it is inefficient and in the wrong direction. A. In 2023, Volkswagen, Tesla and BYD spent $23.
6 billion, $4 billion and $5.
6 billion on research and development, respectively, and far more than the large technology stocks listed in the United States.
such as Apple, Microsoft, Google and so on.
Volkswagen looks so powerful, but its R & D efficiency is very inefficient, and those R & D that are not in line with the development direction of the automobile industry may have been wasted.
,
, b.
The European Union devotes too much R & D resources to the traditional automobile industry, invests a huge amount of R & D expenditure in traditional fuel vehicles, pursues continuous innovation in the original products, provides continuously improved products, and pursues the part with the most profits and the most stable income.
, c.
CARIAD, a software company owned by Volkswagen, has lost $7 billion since its inception (a sign of high R & D investment by European car companies).
The culture of fuel car manufacturing is at odds with agile software development.
It has been digging holes for Volkswagen for four years and decided to lay off thousands of people. , 7. The resistance to layoffs comes not only from trade unions, but also from the local state government, a.
The state of Lower Saxony, where Volkswagen is headquartered, holds a 20% stake in the Volkswagen Group.
Stephen, the governor of the state and a German social Democrat.
Weir is a member of Volkswagen’s supervisory board. , b. Stephen? Weir’s opposition to the closure of the factory.
He believes that with the support of Lower Saxony, Volkswagen has become a successful global company in the past 75 years. , c. Weir’s solution is to restore federal subsidies for electric car purchases or provide tax breaks for consumers, and to influence the European Commission to ensure that the European car industry does not have to pay hefty fines for non-compliance with carbon emissions regulations in 2026.
He believes that the development of the electric vehicle market can not be mainly attributed to industry, but mainly the result of political decision-making.
As far as World War II, as far as the financial crisis, diesel door, to today’s energy price crisis, Volkswagen has survived many crises, but it is always difficult on the road of reform.
If the employee is a crew member, then the anger and frustration of the crew representatives really need to be appeased and settled by the group.
However, the crew and crew representatives may only see the ups and downs of the ship, but do not realize that the sea is rough, and if no measures are taken, the ship may be wiped out in the future.
Today may be the worst day in Volkswagen’s past, but it may also be the best day in the future. , 7. China’s car sales hit a record high in November 2024, exports continued to decline, private growth while unit car purchases fell, 1. 5%. The subsidy for a single car is 6-8%, and the strength is obvious, pulling most car companies in a super strong state in November, 2.
The automobile consumption subsidy policy has been successful in the shift from investment-driven to consumption-stimulating policies.
Exports are declining, new energy is worse than fuel cars, and the policy of instability in the international environment has changed greatly, resulting in great pressure for car companies to go out to sea.
Private consumption has increased sharply as a result of subsidies, and unit car purchases have shrunk sharply, forming the growth of Xiaopeng Weilai and the ideal downturn.
On December 11, the latest statistics of the China Association of Automobile Manufacturers (hereinafter referred to as “China Automobile Association”) showed that in November 2024, China’s automobile production and sales completed 3.
437 million and 3.
316 million respectively, an increase of 14.
7% and 8.
6% respectively from the previous month, both exceeding 11% compared with the same period last year.
In the first 11 months, cumulative car sales in China reached 27.
94 million, up 3.
7 per cent from a year earlier.
, 
, expand reading:, 1.
The policy of replacing old for new, scrapping and updating is the main reason.
The policy of changing investment to consumption has achieved initial success. A. According to the latest statistics of the Ministry of Commerce, as of December 9, the total number of cars exchanged for clunkers across the country exceeded 5 million, of which more than 2.
44 million were scrapped and replaced, and the market trend was higher than expected. , b. Scrapping and renewal has reached a monthly scale of 40-500000, and can reach nearly 3 million (270-2.
8 million) in the whole year.
The performance is good, and the monthly application status shows a steady trend. , c. The subsidy of 15000 fuel vehicles / 20 million new energy vehicles has worked well.
In addition, the local trade-in support policy began on July 25 to further ensure the completion of this year’s work.
In August 2024, the Ministry of Commerce, the Ministry of Finance and other seven departments issued the Circular on further doing a good job in exchanging cars for new ones, proposing that for individual consumers who scrap and renew related vehicles, the subsidy standards for buying new energy passenger cars and fuel passenger cars will be raised to 20, 000 yuan and 15000 yuan, respectively. , d. 2024 through special treasury bonds to promote trade-in, funds are relatively loose, trillions of treasury bonds form investment infrastructure, major projects are not very necessary, the rate of return on investment has declined, and instead try to stimulate consumption, looking forward to stimulating economic growth, so put on the promotion of car sales. , e. From August to September, various localities began to scrap and renew and introduce corresponding policies.
The subsidy for trade-in is 1.
4-20 million (an average of 1.
6-18000), fuel vehicles and new energy vehicles are all pulled up, and the subsidy for a single car is 6-8%, which is obvious.
Therefore, pull the super-strong state of car companies in November. , f. According to the meeting held by the political Bureau of the CPC Central Committee on December 9, it can be made clear that the policy environment is still warm in 2025, which is conducive to the healthy development of the automobile industry. , g. In November, it mainly promoted the development of small and mini electric vehicles and electric vehicles, with a pure electric / plus ride / plug-in hybrid car ratio of + 7% to 7%, compared with 29%, 85% and 90% compared with the same period last year.
,
, 2.
Exports as a whole continued to weaken, with fuel vehicles better than new energy vehicles. A. In November, only 419000 passenger cars were completed in November, down 9.
9% from October and an increase of 3.
2% year-on-year.
In the first 11 months of 2024, exports of conventional fuel vehicles totaled 4.
203 million, an increase of 26.
7 percent over the same period last year, and exports of new energy vehicles totaled 1.
141 million, up 4.
5 percent over the same period last year. , c. The development of new energy vehicles overseas is facing tremendous pressure, and the international environment is uneven.
Steady.
There are great changes in the policy of new energy vehicles in many countries, which poses a certain test for Chinese car companies to expand their overseas business.
Especially in November, the export of new energy vehicles was only 83000, a very significant decline, with year-on-year declines of 35.
2% and 14.1%. , d. In November, the export of plug-in cars was 25000, up 74.
3% from the same period last year, compared with 29.
2% for pure electric vehicles.
From January to November, the total export of plug-in cars was 246000, an increase of 1.
8 times over the same period last year.
Many enterprises have seen this market opportunity and have begun to lay out.
, 
, , 3.
New energy continues to squeeze the fuel vehicle market, a.
From July to November 2024, China’s new energy passenger cars have been advancing by leaps and bounds, with retail penetration exceeding 50% for five consecutive months, while domestic sales of traditional fuel passenger vehicles have declined further. , B. from January to November, the cumulative sales of conventional fuel passenger vehicles were 10.
257 million, a decrease of 2.
436 million compared with the same period in 2023 and a year-on-year decrease of 18.
8 per cent.
In the same period, domestic sales of new energy vehicles reached 10.
121 million, an increase of 40.
3% over the same period last year. , 4. The price war has slowed recently, private growth has shrunk while unit car purchases have shrunk. A. November sales promotion is basically the same, extremely mild, reflecting that the car market is not so concerned about sales promotion under the pull of external promotion.
With the support of the policy, the competition is peaceful, and the orders of dealers and consumers are easier to do. , b. The most obvious recent structural performance is the growth of private consumption, the sharp contraction of unit car purchases and the shrinking of taxis, because there is no subsidy for unit car purchases, so extended ride / rental ride-hailing is obviously depressed.
Therefore, the products of new energy vehicles with medium and low prices and private low-cost consumers have a strong growth, and spread to the A0 level at the same time. , c. Xiaopeng M3 performance is good, Ruida R60 can also, so Xiaopeng, Weilai is good, the ideal is low, the formation of policy-driven characteristic effect, the formation of mainstream manufacturers upside down growth.
, 
, 5.
What about new energy vehicles in the European market next year? guess the performance of China’s new energy? , a.
China? Companies are entering markets such as Europe through multiple price ranges, including not only “cost-effective” models, but also high-end products.
But it will not dominate the European market.
,
, b.
In Europe, new energy vehicles grew by a negative 11% from January to October this year, to only 2.
3 million, compared with 2.
9 million last year.
Europe wants to grow new energy vehicles in the future, but at present it has no technology, products and supply chain, its own products are weak, and it has to rely on China for development, and it will recover on this year’s basis next year.
Chinese and American products have more space in the European market. , c. If Chinese car companies are not introduced, the development of new energy vehicles in Europe will be a few years late, so Europe will certainly ensure the development of Chinese enterprises in Europe and the support of the industrial chain.
therefore, Europe stagnates this year, the growth rate resumes next year, and after the trade balance between the two sides, China’s electric cars form a better space for development.
Although the replacement and renewal policy was launched relatively late, it has stimulated more increments in the market because it has expanded the coverage of subsidies.
The car market is the focus of consumption, the most important is the demand for exchange, the demand for exchange of institutions.
Because this year’s policy is relatively successful, some experts expect that next year the policy will expand the market boundaries, meet the replacement standards will be further relaxed, the installed scale of iron-lithium batteries will be further released next year, and the middle and low-end price cuts will lead to the further growth of plug-in hybrid and other models, and the market space is still very large.
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