Joint efforts of SAIC, Pudong, and Alibaba Fighting Tesla with Zhiji Automobile

2020-11-27 23:28| Publisher: 2233| see: 597| comment: 0

abstract: SAIC Group stated that the valuation of Zhiji Automobile will reach100The project will be launched in Pudong, Shanghai, with a brand new electronic and electrical architecture to create a high-end pure electric brand. In order to compete with Tesla, traditional domestic car companies have established high-end electric vehicle brands and formed alliances with technology companies.11month26Day, ...
      SAIC Group stated that the valuation of Zhiji Automobile will reach100The project will be launched in Pudong, Shanghai, with a brand new electronic and electrical architecture to create a high-end pure electric brand.
Joint efforts of SAIC, Pudong, and Alibaba Fighting Tesla with Zhiji Automobile442 / author: / source:
       In order to compete with Tesla, traditional domestic car companies have established high-end electric vehicle brands and formed alliances with technology companies.11month26SAIC Group, the largest domestic automotive enterprise in Japan( 600104.SH )Announced the collaboration with the Shanghai Pudong New Area government and Alibaba Group to create a high-end intelligent pure electric vehicle brand "Zhiji Automobile". The project will be located in the Zhangjiang Intelligent Park in Pudong New Area, codenamed“L”The goal of SAIC Group's "No.1 Project" is to strive to occupy a place on the new track of global electric intelligence.

SAIC Group's official announcement of this project coincides with Tesla's rapid global progress. Due to factors such as sales exceeding expectations, Tesla's stock price has increased from the beginning of the year to93.81The US dollar skyrocketed to11month25Of574USD, with a market value exceeding the total of major global automotive companies. The stock prices of NIO Automobile, Xiaopeng Automobile, and Ideal Automobile, the three major new car manufacturing forces in China, have also hit new highs, bringing huge pressure to traditional car companies with declining performance.

  11month26SAIC Group first signed a strategic cooperation agreement with the Pudong New Area Government at the Shanghai center, the tallest building in Lujiazui, on March 1, to establish a scientific and technological innovation company, Zhiji Auto. According to the announcement of SAIC Group that night, the parties proposed to establish Shanghai Yuanjie Intelligent Technology Equity Investment Fund Partnership (limited partnership), with a total subscribed capital contribution of RMB 72 RMB100mn

Among them, SAIC Group subscribed capital contributions 53.99 100 million yuan, held74.986%Share; Shanghai Zhangjiang High tech Park Development Co., Ltd. (hereinafter referred to as Zhangjiang High tech), a state-owned enterprise, 600895.SH )Subscribed capital contribution 18 100 million yuan, held 25%Share; SAIC Investment's parent fund management platform Hengxu Capital subscribed capital 0.01 100 million yuan, held 0.014%Share. The entire fund will have3 Annual investment period,4 Annual management exit period,2 Year extension, Hengxu Capital as the General partner(GP), responsible for fund management, SAIC Group and Zhangjiang Hi Tech are both limited partners(LP)。

Affected by this news, SAIC Group and Zhangjiang High Tech have11month27At the beginning of the day, there was a limit up.

Alibaba Group did not participate in the signing ceremony on that day. However, SAIC Group's announcement stated that the above-mentioned fund plans to invest in the Zhiji Automobile project together with Alibaba (China) Network Technology Co., Ltd. and its designated subsidiary investment entities, using a newly built electronic and electrical architecture to connect electronic control units highly related to the vehicle and driving experience from the bottom, and create a high-end pure electric brand. SAIC Group stated that the project was initially valued100The billion yuan "Big Mac" project will introduce more social capital in the future. Based on this calculation, Alibaba and other parties will at least contribute28RMB100mn

SAIC Group is not the first domestic car company to establish a high-end pure electric vehicle brand. Prior to this, Dongfeng Group had already7The high-end new energy passenger vehicle brand "Lantu" was released in the month, and GAC Group11month16GAC New Energy Vehicle Co., Ltd., a wholly-owned subsidiary of BAIC, was renamed as GAC Aian New Energy Vehicle Co., Ltd., and announced that the Aian brand officially operates independently. The high-end electric brand of BAIC New Energy is“ARCFOX”。 11month14On the day, Changan Automobile announced that it will collaborate with Huawei and battery company Ningde Times to jointly create a high-end brand of intelligent vehicles, with a name yet to be announced.

Chinese car companies are launching independent electric vehicle brands one after another, which can avoid the "left and right competition" with their own fuel vehicle business. A senior executive of a new energy startup car company believes that under the same configuration conditions on the same platform, due to the expensive batteries, electric vehicles cost tens of thousands of yuan more than gasoline vehicles. "It is difficult for consumers to accept having the same car there psychologically.

The reason for becoming a high-end brand is to compete with domestic Tesla, which is constantly reducing prices. According to the data from the Joint Conference on Passenger Car Market Information, in the context of the shrinking domestic pure electric vehicle market, this year1-10Month, TeslaModel 3with9.2With a sales volume of 10000 vehicles, it occupies the top spot in China's new energy vehicle sales. Chery and BAIC's new energy vehicle models respectively have22.8%and76.2%Due to the decline, SAIC's independent brand Roewe did not even enter the top ten.

In the press release, SAIC Group believes that this indicates a consumption upgrade in the domestic automotive market,2019The proportion of additional and replacement purchases in the domestic car market exceeded the previous year40%Consumers who increase or exchange purchases usually choose to upgrade their vehicles, and their budget will be correspondingly increased10It is imperative to launch high-end brands for over 10000 yuan.

In addition to brand effect, Tesla vehicles are highly integrated, not only developing self-developed chips and autonomous driving kits, but also breaking down barriers between various hardware in the car, enabling online upgrades at the vehicle levelOTA(Over-the-Air Technology)。 This "software defined car" solution is considered by the industry as the future development direction of electric vehicles.

In order to catch up with Tesla, many domestic car companies have turned to technology companies for help.2019year5In June, Huawei established its intelligent vehicle solution businessBUWe specialize in creating intelligent vehicle solutions for automotive companies and have now reached cooperation with BAIC and Changan Automobile.

SAIC Group stated that they have already had a lot of layout in this area, such as2015Established a joint venture with Alibaba in Zebra Network to create a vehicle operating system; Joint venture with German semiconductor company Infineon to establish SAIC Infineon Automotive Power Semiconductor(Shanghai)limited company; this year7In January, SAIC Group also separated its software center into a subsidiary, "Zero Bundle", focusing on software development capabilities. It is expected that2023Annual Recruitment2200People.
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