(Image source: Photo.com)
Recently, Lei Jun, the founder of Xiaomi Group, announced a good news that in the past eleventh holiday, Xiaomi Su7 locked more than 6000 vehicles. He also set a sprint target for Xiaomi Auto in October: to produce 20,000 units and deliver 20,000 units.
The Xiaomi Su7 has been performing very well in the market. Previously, Xiaomi SU7 has achieved monthly deliveries of more than 10,000 units for four consecutive months. On this basis, Xiaomi Auto is also expected to complete the annual delivery target of 100,000 units ahead of schedule in November, and launch an impact on the annual sprint target of 120,000 units. If the delivery achievement of 20,000 units is achieved in October, it means that the Tesla Model 3 will be surpassed by the Xiaomi SU7.
Previously, Lei Jun said in his 2024 annual speech that from the perspective of R&D, "high cars are easy to do and low cars are difficult", SUVs are easy to do, sedans are even more difficult to do, and many car companies are making SUVs first. But Xiaomi Auto has chosen an unusual path, starting with a pure electric car, Lei Jun believes that after the car is done, it will be easy to do other models. According to public information, Xiaomi Su7, the first model of Xiaomi Automobile, was well received by the market as soon as it was launched, and is expected to complete the annual delivery target of 100,000 units ahead of schedule, and many netizens are very much looking forward to the second model.
At the same time, there is also new news about the first SUV model of Xiaomi Auto. Recently, some netizens posted a road test video of Xiaomi SUV on social platforms. It is understood that the internal code name of this new car is Xiaomi MX11, which is positioned as a medium and large SUV. The roof of the vehicle will also be equipped with a lidar to improve the vehicle's autonomous driving capabilities. Judging by the information that is known so far, the new car is expected to be officially released in 2025, and the starting price is expected to be higher than that of the Xiaomi SU7.
Regarding the specific price of Xiaomi MX11, there is still some speculation and controversy in the market. Some believe that the starting price may be 229,900 yuan, while others believe that it may reach 235,900 yuan. In addition, there is also news that the Xiaomi SU7 Ultra version will also be released and officially launched in the first quarter of next year. The average selling price of this model will reach 800,000 yuan.
The rapid development momentum of Xiaomi Auto and the continuous introduction of new models show that the market competition in the mainland new energy vehicle industry is fierce. At present, China has achieved "lane change and overtaking" in the field of new energy, and is moving towards a stage of large-scale and globalized high-quality development, and the rapid development of China's new energy vehicle industry has provided new opportunities and challenges for local governments to attract investment.
The production and sales of new energy vehicles in mainland China grew strongly
According to statistics from the China Association of Automobile Manufacturers, domestic production of new energy vehicles in 2019 was 1.242 million units, and in 2020, the output increased to 1.366 million units. Subsequently, in the three years from 2021 to 2023, the output of new energy vehicles showed explosive growth, reaching 9.587 million units, with an average annual compound growth rate of 91.46%. From January to May 2024, the production of new energy vehicles in mainland China reached 3.926 million units. In terms of sales, the sales volume of new energy vehicles in mainland China was 1.206 million units in 2019, and this number will increase to 9.495 million units in 2023, with an average annual compound growth rate of 67.7%.
In terms of proportion, the proportion of new energy vehicle production and sales in total automobile production and sales has increased from less than 5% in 2019 to more than 30% in 2023, and the growth of new energy vehicle production and sales has made a great contribution to the overall growth of the automotive industry.
Market competition trends in China's new energy vehicle industry
With the continuous development of the new energy vehicle industry, industry integration will continue to advance in the future, with large enterprises integrating industrial chain resources through acquisitions and mergers, and small and medium-sized enterprises consolidating their competitive positions through mergers and cooperation. At the same time, in the context of technological innovation, the use of Internet of Vehicles, cloud computing, artificial intelligence and other technologies to enhance the comprehensive competitiveness of new energy vehicles will be one of the development trends of the industry. In addition, the enterprise side will also bring consumers a better consumption experience by continuously improving their service capabilities. Under the wave of internationalization, the new energy vehicle industry will also accelerate the process of going overseas, and the international market is very attractive to the domestic new energy vehicle industry.
(1) Acceleration of industry integration: With the intensification of market competition and the strengthening of policy support, the trend of industry integration is becoming more and more obvious. Large enterprises expand their scale and increase their market share through acquisitions and mergers. At the same time, some small enterprises are also integrated through mergers and alliances, in order to obtain a better living space in the market competition.
(2) Technological innovation: With the continuous progress of technology, technological innovation has become an important means for enterprises to maintain their competitive advantage. In the new energy vehicle industry, technological innovation is mainly reflected in the fields of smart cars, Internet of Vehicles, and cloud computing. Enterprises with independent innovation capabilities will occupy a more favorable position in the market competition.
(3) Improvement of service capacity: With the continuous change of market demand, users' requirements for service quality are getting higher and higher. Enterprises with excellent service capabilities will gain more trust and support from users. Therefore, enterprises need to strengthen service awareness and improve service quality to enhance market competitiveness.
(4) International development: With the acceleration of globalization, the attractiveness of the international market to Chinese enterprises is also increasing. China's new energy vehicle companies need to actively explore the international market and improve the internationalization level of products and services to enhance the competitiveness of the international market.
As a technology-based decision-making think tank that understands China's industry better, the Prospective Industry Research Institute has established the "New Energy Vehicle Industry Planning Institute", hoping to give full play to the exclusive characteristic industrial planning services of "industrial research + big data + technical insight + investment resources in advance", and provide local governments with scientific, forward-looking and more practical overall consulting solutions for industrial planning. It not only provides comprehensive services such as industrial planning, investment promotion, park construction, and project operation, but also provides large-screen monitoring of new energy vehicle industry data, compilation of industrial chain map, preparation of special policies and training guidance.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Analysis Report on Market Prospect and Investment Strategic Planning of China's New Energy Vehicle Industry" by Qianzhan Industry Research Institute
At the same time, the Prospective Industry Research Institute also provides solutions such as industrial new track research, investment feasibility study, industrial planning, park planning, industrial investment, industrial map, industrial big data, smart investment promotion system, industry status certification, IPO consulting/fundraising feasibility study, and specialized and special new small giant declaration. To quote the content of this article in any public information disclosure such as prospectus and annual report, formal authorization from Qianzhan Industry Research Institute is required.
More in-depth industry analysis is available in the [Prospective Economist APP], and you can also communicate and interact with 500+ economists/senior industry researchers. More enterprise data, enterprise information, and enterprise development are all in the [Qichamao APP], the most cost-effective and most comprehensive enterprise query platform.