Here comes another one.
In the early morning of August 8th, Xpeng Motors formally submitted a prospectus to the Securities and Futures Commission of the United States, intending to be listed on the New York Stock Exchange with the stock code "XPEV". The underwriters include Credit Suisse, JPMorgan Chase and Bank of America Securities.
However, the issue price range and the number of shares issued by Tucki IPO have not yet been determined, and the financing amount is also uncertain for the time being. The $1 million listed in the prospectus is only a placeholder for routine disclosure, which does not represent the actual financing amount of this IPO.
this is the third new car-making company in China to go public in the United States after the continuation of its ideal, and the prelude to the era of new car-making power has officially opened.
a loss of 6 billion in two and a half years
whoever goes public first will live first.
The popularity of ideal listing has not dissipated, and Xpeng Motors has continued.
An essential prospectus, this time showing Xpeng Motors's "family background".
"loss, debt, spending money to build a factory" has become its key word.
Xpeng Motors, the company was established in 214 at the same time as Weilai Automobile, one year earlier than LI. Its founder, He Xiaopeng, came from the founding team of UC and also worked in Ali. According to Feilv Automobile, more than 9% of its technical teams are from famous car companies such as Ford, BMW and Tesla.
At present, there are two pure electric vehicles designed by ourselves. The intelligent SUV G3 of Tucki launched in December 218 and the intelligent coupe P7 of Tucki in April this year have been delivered to mass production.
"both material and quality", but it still hasn't broken the curse of "loss" in making cars.
according to the prospectus, Xpeng Motors has never made a profit since its establishment. In 218, 219 and the first half of 22, the net loss of Xpeng Motors was 1,398.8 million yuan, 3,691.7 million yuan and 795.8 million yuan respectively, and the accumulated loss in two and a half years was 5,886.3 million yuan.
for the new domestic car-making forces established only a few years ago, no one has yet achieved profitability. According to the data, when submitting the prospectus, Weilai Automobile accumulated losses of over 1.9 billion yuan and LI accumulated losses of over 4 billion yuan. Even Tesla has been suffering from financial problems.
In fact, He Xiaopeng made a prediction on when Xpeng Motors would make a profit at last year's Guangzhou Auto Show, and he gave a threshold-a monthly delivery of 1, vehicles would break even. Today's reality is that Xpeng Motors has not only failed to deliver 1, vehicles a month, but its sales have also begun to decline.
It is reported that the sales volume in Xpeng Motors has been declining month by month since April, from 1,8 vehicles in April to 821 vehicles in June. Considering that only G3 car was sold in Xpeng Motors in the first half of this year, it shows that the main sales force in Xpeng Motors has begun to weaken.
"The weak sales result from the poor products."
As we all know, He Xiaopeng is an iron powder of Tesla, and its products and playing methods are very similar to Tesla's. In order to avoid its sharp edge, the first G3 adopted a price of 1,+,hoping to conduct differentiated competition, but the price advantage cannot be exchanged for long-term sales.
In recent years, Tucki G3 has been repeatedly complained by consumers, with problems such as brake failure and sudden loss of power. Last year, there were three consecutive fire incidents.
today (August 11th), Xpeng Motors again? "Angry" upper body, a G3 in Pazhou Science and Technology Building, Haizhu District, Guangzhou, caused a smoke and fire accident.
In response, Tucki officials said that the cause of the fire was initially determined to be that the bottom of the battery box was bruised and damaged seriously.
Tucki P7, which is full of momentum and shoulders the heavy sales burden, sold 6,639 vehicles as of July, Moedl? As of June, the sales volume reached 46,464 vehicles, and the latter's sales volume was almost eight times that of the former. It can be seen that it is still unclear whether Tucki P7 can achieve the "profit" mission.
under the undercurrent, there is light.
It is reported that Xpeng Motors has officially obtained the production qualification this year. On May 19th, Xpeng Motors announced that Zhaoqing Xpeng Motors Intelligent Networking Science and Technology Industrial Park, located in Guangdong Province, has obtained the production qualification, and Tucki P7 will complete its independent production and delivery in this factory. Previously, Tucki always borrowed Haima Automobile for OEM production.
"It's an important breakthrough for Xpeng Motors to obtain the qualification to build a car." Some insiders pointed out that compared with Weilai Automobile, which is still using JAC OEM, and LI, which only has factory mode, Xpeng Motors has both OEM mode and factory mode, which makes it more flexible.
Xpeng Motors also revealed in the prospectus that the annual production capacity of Haima foundry and Zhaoqing factory is as high as 15, vehicles and 1, vehicles respectively.
under the loss, "food and grass" comes first, which also shows Tucki's confidence and determination.
When giants play against each other
Tucki, there is no shortage of "friends".
Before submitting the prospectus, Xpeng Motors, who is very popular, got two "renewal" money.
On August 3rd, Xpeng Motors received another financing of over US$ 3 million, with Alibaba Group leading this round of financing and Qatar Sovereign Fund (QIA) also participating in the investment. Two days later, another investor joined the negotiations, raising Xpeng Motors's total fund-raising to $4 million.
just ten days ago (July 2th), Xpeng Motors just announced the completion of signing the C+ round of financing involving famous investment institutions such as Aspex, Coatue, Gaoyou Capital and Sequoia China, with a financing amount of nearly 5 million US dollars.
this also means that within half a month, Tucki has completed two rounds of C+ and C++ financing, totaling about 9 million US dollars (about 6.3 billion yuan).
In this round of "generous" friends, Alibaba is particularly conspicuous. It is reported that Tucki's $4 million Pre-IPO round of financing is almost exclusively for Alibaba, with only a small amount of participation from other investors.
Ali is an "old shareholder" of Tucki. He participated in the investment as early as the A round of financing in December 217, and has participated in at least two rounds of financing since then.
For the heavy position, Ali gave such a response: "Smart electric vehicles are an important part of digital life in the future. Alibaba expects to help the development and upgrading of the smart electric vehicle industry through its investment in Xpeng Motors." In fact, to put it bluntly, it is to occupy a place in advance.
in fact, behind the field of making cars, Internet players have already been occupied.
According to the data of Feilv Automobile, Tencent currently accounts for about 12.6% of Weilai Automobile, Meituan accounts for about 14.5% of LI's shares (Wang Xing personally has 23.5% of ideal shares), and Alibaba accounts for 14.4% of Xiaopeng Automobile's shares. (Baidu voted for Weimar, the proportion is unknown).
in this year's new car financing listing tide, the above-mentioned internet players have contributed great enthusiasm. Wang Xing and the US delegation made successive bets and invested about $1.2 billion in LI. Tencent spent about 7.7 million yuan to increase its holdings of Weilai, and it is the second largest shareholder of Weilai, with a shareholding ratio of 15.1%; Alibaba also increased its price again on the eve of listing in Tucki.
it's not without reason that internet giants are scrambling to "get on the bus" to build cars. Everyone is worried that new energy smart cars will become the entrance to the next internet revolution, just like the mobile internet. Once left behind, the whole game will be lost.
But even if a heavy bet is made, the player who "plays" can only get one ticket. In the era of intensified competition, new car manufacturers can only grab a place by talking about sales volume and technology.
"Combined with the market situation and product situation in Xpeng Motors, after the IPO, the market value may surpass that of LI under the promotion of Ali."
according to the news from the latest investment circle, the long-term target market value of Xpeng Motors after IPO is USD 4 billion. If so, the target market value will be nearly three times that of Weilaihe.
Finally, Yuanlv Auto Xiaobian would like to gossip about Xpeng Motors's stock, will you buy it?
This article comes from the author of Chejia, car home, and does not represent car home's standpoint.