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2021-04-20
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Tech giants are building cars one after another, but it's actually just a stepping stone
Quest
2021-03-04
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U.S. inflation measure topped 2.5% for first time since 2008
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19:02","market":"us","language":"zh","title":"Tech giants are building cars one after another, but it's actually just a stepping stone","url":"https://stock-news.laohu8.com/highlight/detail?id=1115381700","media":"锐问 Record","summary":"加入中国电动车俱乐部，要先搞定2张门票。","content":"<p>In the last six months, the headlines in China's auto industry have all come from big tech companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a tier-one supplier, joined forces with ARCFOX to release a customized new model on this day. Zhiji Auto, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Different from the new forces investing in car manufacturing in the past five years, smartphone manufacturers Xiaomi and big Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>They have to build cars themselves. In the future, this team may still have Didi Chuxing.</p><p>Technology giants are increasingly desperate for a new field that will become a new growth point after the smartphone era. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, is it easier to realize this desire?</p><p><b>To join China Electric Vehicle Club, you have to get 2 tickets first</b></p><p>In China, wanting to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build intelligent pure electric vehicles, the new company first needs two license plates. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps do you have to become a dual-qualified electric vehicle company? Source: Development and Reform Commission, Ministry of Industry and Information Technology</p><p>However, the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. June 2017, Mid<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer published the approval information of new projects, and once it was reported that the approval had been substantially suspended. Now, even if new companies reopen access to build factories and build cars, they face time-consuming approval cycles.</p><p>But it's not entirely without a solution. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car factories that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing automobile manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by the policy.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, there have been car owners picking the tail label of \"JAC\" one after another. Because according to the \"Administrative Measures for External Marking of Automobile Products\" implemented in 2005, the foundry brand must appear at the rear of the car.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the names of manufacturers is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulties and increases communication costs.</p><p>In other words, auto foundry was still in the regulatory gray area at the time.</p><p>It was not until December 2018 that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time in the Administrative Measures for Road Motor Vehicle Manufacturers and Product Access, and also put forward new requirements. For example, new car manufacturers that have not obtained production qualifications need to OEM 30,000 vehicles before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been issued. However, in May 2020, at the second \"Ministerial Channel\" question and answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of Industry and Information Technology, mentioned that the OEM production of new energy enterprises should be liberalized in an orderly manner, and the pilot project of brand authorization should be implemented for R&D and development of innovative new energy vehicle enterprises.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, tram exchange</p><p>The process of applying for qualifications is slow and uncertain, and the faster and more expensive way is to buy a company that already has qualifications outright. Zhao Gang, vice president of Leapmotor, once said, \"Now in the industry, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the buying business that is difficult to figure out. For example, in September 2018, Byton acquired FAW Huali for 1 yuan and took over the latter's debt of 800 million yuan. Later, Byton couldn't raise money, and he had to be busy paying off debts when he was in shortage of money.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquisition of Chongqing Lifan, Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications to acquire, and the asking price of the right qualification will only be higher.</p><p>Weilai adheres to the foundry mode. Qin Lihong, its co-founder, once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I definitely won't do it. We won't get production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second licence were also relaxed.</p><p>In September 2020, the Ministry of Industry, Information Technology and Information Technology of China issued new regulations on the Administration of New Energy Vehicle Manufacturers and Product Access, which deleted the requirement on \"design and development capabilities\". That is to say, technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, and they no longer need to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., or even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite to the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more fierce competition. Xiaomi, Baidu and Didi may face not only Tesla, Nio and XPeng, but also Volkswagen, General Motors and Toyota.</p><p><b>The stepping stone of building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a car, and then push new models at a certain frequency. Tesla spent 3 years polishing the Model S before starting to push a new car in two years. Nio, Ideal, and XPeng also spent about 4 years each building their first production cars.</p><p>But not all companies can succeed. Willing to spend money may not necessarily build a good car. Dyson, which built hair dryers, spent four years and spent 2.5 billion pounds (about 22.7 billion yuan) to give up the plan to build cars.</p><p>Dyson and Sr.<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design and trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired a lot of people in the automobile industry to point out the problem.</p><p>Since 2016, Dyson has two more automotive professionals on its board. Includes,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, a former chief engineer, and Ian Robertson, a key supporter of BMW's EV plans.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a gang of automotive professionals checking the gates, the Dyson Concept features a range of radical designs. Including a low roof, larger wheels, frameless window panes, and \"suicide\" doors that only luxury cars will have.</p><p>In addition to developing and planning new models, the OEM is also responsible for integrating the whole vehicle. The supplier is responsible for developing and producing parts. Although the number of components of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty of OEM managing suppliers will also rise exponentially.</p><p>For the big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt they could do it — Japan's Princestone and France's Michelin.</p><p>More special design is inside the car. Dyson hired a group of engineers who had never touched car air-conditioning systems before, and created a set that could heat and cool this seven-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during city trips, and longer battery life is also the main selling point of Dyson cars. To do so, they had to develop their own suspension for more batteries, and make more room on it.</p><p>Similar to Dyson, China's big technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one will lose one, and no amount of money will fill this hole.</p><p>They may also fail to deliver on schedule, fail to act according to quality requirements, and have unclear standards, resulting in repeated delays in projects. In China, the 15 engineering prototypes handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team should know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. More lean to invest and manage. To this end, Dyson specifically purchased and restored an airport, its warehouse and runway.</p><p>For the new company, if a new plant is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining the qualifications of EIA, fire protection and civil engineering. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he had spent a lot of effort in research and development, but finally found that the cost of mass production was too high. Batteries, battery management, electronics, and cooling systems are much more expensive than internal combustion engines. \"To even the income and expenditure, electric cars have to sell for at least $300,000 each.\"</p><p>And it is already easier to mass-produce high-end models than mid-to low-end models. Buy a<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People who believe in manufacturing technology; People who buy a Toyota Corolla are looking for no breakdowns, fuel efficiency and smoothness. After producing hundreds of thousands a year, reliability is the primary goal of cars.</p><p>In February this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details are not wrong when the production capacity climbs. In a public interview, he once advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's car research project once told Caixin that Xiaomi pursues cost performance, and it has a high probability of building cars. Therefore, mass production at scale is important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid these problems can't be guaranteed by car companies themselves.</p><p>It is still a complex project for technology companies to build a car that will last 15 years in snow and rain.</p><p><b>Now no one has found a better way to make money than selling cars</b></p><p>In the era of fuel vehicles, traditional car factories established 4S shop distribution networks, earning a fortune when selling whole vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling whole cars. In addition, supporting auto finance, such as loans to buy a car, is also an important source of profit.</p><p>An electric car is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Open Tesla's books in 2020, and revenue of $31.5 billion, 94% of which is coming from selling cars. The remaining 6% comes from selling regulatory points, selling software, and even selling brand peripherals.</p><p>Every additional car sold dilutes the cost of developing a model. However, since selling cars for 12 years, Tesla has lost money so far. Last year, it made $721 million by selling environmental regulatory credits to traditional car manufacturers. The previous year, they were still losing $862 million on their books.</p><p>The time for electric vehicles seems to have yet to come.</p><p>For consumers, at this stage, purchasing electric vehicles may not be the best choice. No.38 Car Review has calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is counted, buying an electric vehicle at this stage is no more cost-effective than a fuel vehicle.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric cars do not come from the product power of the manufacturer itself. The willingness of more than half of consumers to buy electric vehicles in the 2021 McKinsey China Auto Consumption Report is based on some still-controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, EVs are not necessarily more environmentally friendly until there is better battery recycling technology.</p><p>Driven by policies such as environmental protection, the cost of batteries has not dropped, and technology companies' cross-border electric vehicles can't completely subvert the traditional automobile industry. But it is only when more people use their own hardware that they will likely make money on technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up the existing 95% fuel vehicle market. The distinctive pure electric vehicle, the cash flow brought by the higher selling price, can also support its bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020Source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What's more noteworthy is that big technology companies are developing autonomous driving technology.</p><p>In December 2020, the rumored<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors of the plan. Apple is indeed still working on a whole car. It could be a self-driving vehicle based on Hyundai's electric vehicle platform, E-GMP, with a car chip evolved from the A12 bionic chip and powered by breakthrough battery technology.</p><p>Those who may be involved in millet car building<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And is also independently developing multi-line lidar. This technology can be used both in its flagship sweeping robot and perhaps in self-driving cars. The Pole Fox Alpha S equipped with Huawei's ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and in the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of it all. Better hardware, software and services integrated together will become its core competencies.</p><p>By then, as Tesla CEO Elon Musk once envisioned-the company's profit growth will mainly come from autonomous mobility services and paid software. If then, Tesla would still be the best-selling smart EV brand.</p>","source":"lsy1616056435833","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech giants are building cars one after another, but it's actually just a stepping stone</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech giants are building cars one after another, but it's actually just a stepping stone\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锐问 Record</strong><span class=\"h-time small\">2021-04-20 19:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the last six months, the headlines in China's auto industry have all come from big tech companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a tier-one supplier, joined forces with ARCFOX to release a customized new model on this day. Zhiji Auto, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Different from the new forces investing in car manufacturing in the past five years, smartphone manufacturers Xiaomi and big Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>They have to build cars themselves. In the future, this team may still have Didi Chuxing.</p><p>Technology giants are increasingly desperate for a new field that will become a new growth point after the smartphone era. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, is it easier to realize this desire?</p><p><b>To join China Electric Vehicle Club, you have to get 2 tickets first</b></p><p>In China, wanting to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build intelligent pure electric vehicles, the new company first needs two license plates. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps do you have to become a dual-qualified electric vehicle company? Source: Development and Reform Commission, Ministry of Industry and Information Technology</p><p>However, the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. June 2017, Mid<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer published the approval information of new projects, and once it was reported that the approval had been substantially suspended. Now, even if new companies reopen access to build factories and build cars, they face time-consuming approval cycles.</p><p>But it's not entirely without a solution. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car factories that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing automobile manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by the policy.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, there have been car owners picking the tail label of \"JAC\" one after another. Because according to the \"Administrative Measures for External Marking of Automobile Products\" implemented in 2005, the foundry brand must appear at the rear of the car.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the names of manufacturers is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulties and increases communication costs.</p><p>In other words, auto foundry was still in the regulatory gray area at the time.</p><p>It was not until December 2018 that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time in the Administrative Measures for Road Motor Vehicle Manufacturers and Product Access, and also put forward new requirements. For example, new car manufacturers that have not obtained production qualifications need to OEM 30,000 vehicles before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been issued. However, in May 2020, at the second \"Ministerial Channel\" question and answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of Industry and Information Technology, mentioned that the OEM production of new energy enterprises should be liberalized in an orderly manner, and the pilot project of brand authorization should be implemented for R&D and development of innovative new energy vehicle enterprises.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, tram exchange</p><p>The process of applying for qualifications is slow and uncertain, and the faster and more expensive way is to buy a company that already has qualifications outright. Zhao Gang, vice president of Leapmotor, once said, \"Now in the industry, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the buying business that is difficult to figure out. For example, in September 2018, Byton acquired FAW Huali for 1 yuan and took over the latter's debt of 800 million yuan. Later, Byton couldn't raise money, and he had to be busy paying off debts when he was in shortage of money.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquisition of Chongqing Lifan, Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications to acquire, and the asking price of the right qualification will only be higher.</p><p>Weilai adheres to the foundry mode. Qin Lihong, its co-founder, once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I definitely won't do it. We won't get production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second licence were also relaxed.</p><p>In September 2020, the Ministry of Industry, Information Technology and Information Technology of China issued new regulations on the Administration of New Energy Vehicle Manufacturers and Product Access, which deleted the requirement on \"design and development capabilities\". That is to say, technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, and they no longer need to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., or even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite to the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more fierce competition. Xiaomi, Baidu and Didi may face not only Tesla, Nio and XPeng, but also Volkswagen, General Motors and Toyota.</p><p><b>The stepping stone of building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a car, and then push new models at a certain frequency. Tesla spent 3 years polishing the Model S before starting to push a new car in two years. Nio, Ideal, and XPeng also spent about 4 years each building their first production cars.</p><p>But not all companies can succeed. Willing to spend money may not necessarily build a good car. Dyson, which built hair dryers, spent four years and spent 2.5 billion pounds (about 22.7 billion yuan) to give up the plan to build cars.</p><p>Dyson and Sr.<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design and trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired a lot of people in the automobile industry to point out the problem.</p><p>Since 2016, Dyson has two more automotive professionals on its board. Includes,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, a former chief engineer, and Ian Robertson, a key supporter of BMW's EV plans.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a gang of automotive professionals checking the gates, the Dyson Concept features a range of radical designs. Including a low roof, larger wheels, frameless window panes, and \"suicide\" doors that only luxury cars will have.</p><p>In addition to developing and planning new models, the OEM is also responsible for integrating the whole vehicle. The supplier is responsible for developing and producing parts. Although the number of components of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty of OEM managing suppliers will also rise exponentially.</p><p>For the big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt they could do it — Japan's Princestone and France's Michelin.</p><p>More special design is inside the car. Dyson hired a group of engineers who had never touched car air-conditioning systems before, and created a set that could heat and cool this seven-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during city trips, and longer battery life is also the main selling point of Dyson cars. To do so, they had to develop their own suspension for more batteries, and make more room on it.</p><p>Similar to Dyson, China's big technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one will lose one, and no amount of money will fill this hole.</p><p>They may also fail to deliver on schedule, fail to act according to quality requirements, and have unclear standards, resulting in repeated delays in projects. In China, the 15 engineering prototypes handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team should know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. More lean to invest and manage. To this end, Dyson specifically purchased and restored an airport, its warehouse and runway.</p><p>For the new company, if a new plant is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining the qualifications of EIA, fire protection and civil engineering. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he had spent a lot of effort in research and development, but finally found that the cost of mass production was too high. Batteries, battery management, electronics, and cooling systems are much more expensive than internal combustion engines. \"To even the income and expenditure, electric cars have to sell for at least $300,000 each.\"</p><p>And it is already easier to mass-produce high-end models than mid-to low-end models. Buy a<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People who believe in manufacturing technology; People who buy a Toyota Corolla are looking for no breakdowns, fuel efficiency and smoothness. After producing hundreds of thousands a year, reliability is the primary goal of cars.</p><p>In February this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details are not wrong when the production capacity climbs. In a public interview, he once advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's car research project once told Caixin that Xiaomi pursues cost performance, and it has a high probability of building cars. Therefore, mass production at scale is important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid these problems can't be guaranteed by car companies themselves.</p><p>It is still a complex project for technology companies to build a car that will last 15 years in snow and rain.</p><p><b>Now no one has found a better way to make money than selling cars</b></p><p>In the era of fuel vehicles, traditional car factories established 4S shop distribution networks, earning a fortune when selling whole vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling whole cars. In addition, supporting auto finance, such as loans to buy a car, is also an important source of profit.</p><p>An electric car is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Open Tesla's books in 2020, and revenue of $31.5 billion, 94% of which is coming from selling cars. The remaining 6% comes from selling regulatory points, selling software, and even selling brand peripherals.</p><p>Every additional car sold dilutes the cost of developing a model. However, since selling cars for 12 years, Tesla has lost money so far. Last year, it made $721 million by selling environmental regulatory credits to traditional car manufacturers. The previous year, they were still losing $862 million on their books.</p><p>The time for electric vehicles seems to have yet to come.</p><p>For consumers, at this stage, purchasing electric vehicles may not be the best choice. No.38 Car Review has calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is counted, buying an electric vehicle at this stage is no more cost-effective than a fuel vehicle.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric cars do not come from the product power of the manufacturer itself. The willingness of more than half of consumers to buy electric vehicles in the 2021 McKinsey China Auto Consumption Report is based on some still-controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, EVs are not necessarily more environmentally friendly until there is better battery recycling technology.</p><p>Driven by policies such as environmental protection, the cost of batteries has not dropped, and technology companies' cross-border electric vehicles can't completely subvert the traditional automobile industry. But it is only when more people use their own hardware that they will likely make money on technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up the existing 95% fuel vehicle market. The distinctive pure electric vehicle, the cash flow brought by the higher selling price, can also support its bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020Source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What's more noteworthy is that big technology companies are developing autonomous driving technology.</p><p>In December 2020, the rumored<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors of the plan. Apple is indeed still working on a whole car. It could be a self-driving vehicle based on Hyundai's electric vehicle platform, E-GMP, with a car chip evolved from the A12 bionic chip and powered by breakthrough battery technology.</p><p>Those who may be involved in millet car building<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And is also independently developing multi-line lidar. This technology can be used both in its flagship sweeping robot and perhaps in self-driving cars. The Pole Fox Alpha S equipped with Huawei's ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and in the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of it all. Better hardware, software and services integrated together will become its core competencies.</p><p>By then, as Tesla CEO Elon Musk once envisioned-the company's profit growth will mainly come from autonomous mobility services and paid software. If then, Tesla would still be the best-selling smart EV brand.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml\">锐问 Record</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/747a43d33fdea5605f94cd4071257af1","relate_stocks":{"09888":"百度集团-SW","01810":"小米集团-W","AAPL":"苹果","BIDU":"百度"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115381700","content_text":"最近半年，中国汽车业的头条新闻都来自科技大公司。4月19日正式开幕的上海车展也不例外。\n声称不造车，想做一级供应商的智能手机厂商华为，这天联合北汽极狐（ARCFOX）发布了定制的新车型。上汽和阿里联合打造的智已汽车也要发布首款量产车。\n和过去5年里，投资造车新势力不同，智能手机厂商小米和互联网大公司百度，都要亲自下场造车。未来，这个队伍可能还有滴滴出行。\n科技巨头们越来越迫切需要一个新领域，成为智能手机时代之后的新增长点。智能电动汽车是它们找的新方向之一。\n但从投资到亲自造车，想要实现这一愿望变容易了么？\n加入中国电动车俱乐部，要先搞定2张门票\n在中国，想要像特斯拉一样造智能纯电动汽车，新公司首先需要两块牌照。一块用来建厂造车，由国家发改委主导；一块用来建公司，卖车，归工信部管。\n成为双资质电动车企，一共分几步？信息来源：发改委、工信部\n但申请条件似乎在逐渐放宽。\n第一块牌照很难拿。2017年6月，中国新能源汽车产能过剩的争议中，发改委不再公布新项目审批信息，一度传出审批实质上已暂停的消息。现在，即使新公司建厂造车的准入重新开放，它们也面临耗时的审批周期。\n可也不是完全没有解决方案。金杜律师事务所合伙人姚丽娟认为，申请生产资质的话，已经有整车或者零部件制造经验的传统车厂会更容易些。除了独立申请资质外，对造车新势力来说，还可以选择代工生产或者直接收购现有汽车生产企业。\n其中，汽车代工模式正在逐渐被政策认可。\n2018年5月，蔚来交付首批量产ES8以来，陆续出现过车主抠“江淮”尾标。因为照2005年施行的《汽车产品外部标识管理办法》，车尾必须出现代工厂品牌。\n对此，蔚来CEO李斌曾表示，国家强制要求乘用车粘贴生产企业名称的规定已经不合时宜，对于处在品牌培育期的初创企业，这项规定增加了额外的难度，同时也增加了沟通成本。\n换句话说，当时汽车代工还在监管的灰色地带。\n直到2018年12月《道路机动车辆生产企业及产品准入管理办法》中，工信部才首次在政策层面肯定了汽车代工模式，同时也提了新要求。比如，未获得生产资质的新造车企业需先代工生产3万辆，才有资格申请资质以及建设工厂。\n代工管理办法草案目前尚未出台。不过，2020年5月，第十三届全国人大三次会议第二场“部长通道”问答记者会上，工信部部长苗圩提到，有序放开新能源企业代工生产，以及对于研发创新型新能源汽车企业，实行品牌授权试点。\n目前，市面上拿到这一资质的公司共18家。来源：据公开信息整理，电车汇\n申请资质进程缓慢，充满不确定性，而更快，也更花钱的办法是直接收购一家已经有资质的公司。零跑汽车副总裁赵刚曾表示，“现在行业里，一个资质大概4个亿。”\n这一价格不包括收购企业背后难以摸清的隐形债务。比如，2018年9月，拜腾1元收购一汽华利，接管后者8亿元债务。后来，拜腾融不到钱，闹钱荒还要忙着还债。\n后来，理想汽车收购重庆力帆，恒大收购国能。对新入场的公司而言，可收购的资质已经越来越少，其中合适的资质要价只会更高。\n而蔚来坚持代工模式。其联合创始人秦力洪曾表示，“资质我们也喜欢，但你让我花10个亿去买个空壳，我肯定不干。我们不会通过收购壳资源获得生产资质。”\n去年9月，第二块牌照的申请条件也放宽了。\n2020年9月，中国工信和信息化部《新能源汽车生产企业及产品准入管理规定》新规，删除了关于“设计开发能力” 的要求。也就是说，小米或者百度这些科技公司想要申请一家公司造电动车，不再要求必须自主研发核心技术——电池、电机和电控。\n清华大学汽车工程开发研究院常务副院长宋健认为，新规降低了企业及其产品的准入门槛，更多新玩家势必进场造车，特别是人民币玩家。\n他们能购买研发技术、生产技术、安全技术等，甚至直接买下一家传统车厂，顺利将质量可靠、用户喜爱的产品投向市场。\n可进入2020年后，中国电动汽车市场变得残酷起来。量产车推得再快，窗口期也已经关闭。补贴结束，外资引入，新公司势必面临更激烈的竞争。小米、百度、滴滴可能面对的竞争对手，不只有特斯拉、蔚来、小鹏，还有大众、通用和丰田。\n造车这块敲门砖，还是有点硬\n一般来说，新入场的公司会集中优势资源做好一辆车，再按照一定频率推新车型。特斯拉花3年打磨 Model S，才开始两年推一款新车。蔚来、理想、小鹏也各自花了约4年时间打造第一款量产车。\n但不是所有公司都能成功。肯花钱也不一定能造好车。造电吹风的戴森耗了四年时间，花了25亿英镑（约227亿元人民币），放弃了造车计划。\n戴森和老伙伴全球设计和技术副总裁彼得·盖马克（Peter Gammack）亲自把关车身设计，反复试验。但汽车设计讲究精度，学习曲线陡峭。因此，他们还聘用了很多汽车业人士，用来指出问题所在。\n2016年起，戴森董事会里多了两位汽车专业人士。包括，阿斯顿马丁前总工程师Ian Minards和宝马电动车计划的重要支持者Ian Robertson。\n戴森概念电动车\n即使有一帮汽车专业人士把关，戴森概念车还是采用了一系列激进的设计。包括低矮的车顶、更大的车轮、无框的窗玻璃，以及豪车才会配置的“自杀”门。\n除了研发、规划新车型，主机厂还要负责集成整车。而供应商负责开发、生产零部件。虽然电动汽车的零部件数量比燃油车要少，但每一个创新的设计，都会增加供应商开发难度和成本。主机厂管理供应商的难度，也会指数级上升。\n光是大轮胎，戴森就和好几家供应商讨论过可行性。最后只有两家轮胎制造商觉得可以做到——日本的普林斯通和法国的米其林。\n更特别的设计在汽车内部。戴森请了一批从未接触过汽车空气调节系统的工程师，搞了一套能给这辆7座SUV分区加热、制冷的，而且还要做到省电。\n除了车身设计，不用在城市旅途中停下来充电，更长的续航时间也是戴森汽车主打的卖点。为此，他们不得不为更多的电池，自主研发悬架，并在上面腾出更多的空间。\n和戴森类似，中国科技大公司或许也不用担心品牌号召力，有实力的供应商乐得合作。但高难度的汽车设计，一旦成本超出预期，造一台亏一台，有多少钱都填不上这个窟窿。\n它们还有可能无法如期交货，不按质量要求行事，标准扯不清楚，导致项目一拖再拖。在中国，交给工信部检验的15辆工程样车，还需要满足安全法规，要有专业团队懂得和国家部委上下沟通。\n由于每款车型的尺寸、工艺不同，对生产线的要求也不同。车企通常会把一、两个车型放在一个工厂集中生产。投资和管理起来更加精益。为此，戴森专门购买并修复了一座机场，及其仓库和跑道。\n对新公司来说，如果有新厂投产，还要同步土建进度，包括拿到环评，消防，土建认可资格。进口设备也要跟进物流。一旦哪个环节卡壳，资金流需要跟得上。\n最终，詹姆斯·戴森曾对《金融时报》的记者感慨，花了很多力气研发，但最后发现量产成本太高了。电池，电池管理，电子设备和冷却系统比内燃机要贵得多。“要收支打平，电动车至少得卖30万美元一辆。”\n而量产高端车型已经比中低端车型容易。买一辆劳斯莱斯的人，信奉的是制造工艺；买一辆丰田卡罗拉的人，追求的是不出故障、省油和平顺。年产数十万以后，可靠性是汽车的首要目标。\n今年2月，特斯拉CEO马斯克也承认，在产能爬坡时，保证细节不出错很难。他曾在公开采访中，建议消费者，要么一开始就买，要么等产量稳定下来再买。\n一位接近小米汽车调研项目的人士曾对《财新》表示，小米追求性价比，它造车大概率要走量的。因此规模量产很重要。但车企能否充分供应？电池、芯片等供应链是不是能跟上？这些问题恐怕车企自己都无法保证。\n科技公司要制造一辆要在雨雪、风雪中持续行驶15年的汽车，至今仍是一项复杂的工程。\n现在除了卖车，没谁找到更好的赚钱办法\n燃油车时代，传统车厂建立4S店经销网络，卖整车时赚一笔钱，维修保养时再赚一笔。而且，卖配件远比卖整车更赚钱。除此之外，配套的汽车金融，比如贷款买车，也是其重要的利润来源。\n电动车更像一台电子设备，不太需要保养。直接开店销售的确更能保证销售体验和利润最大化。翻开特斯拉2020年的账簿，收入315亿美元，其中94%正来自卖车。剩下6%来自出售监管积分、卖软件，甚至是卖品牌周边。\n每多卖一辆车，就会摊薄研发一个车型的成本。不过，卖车12年以来，特斯拉亏损至今。去年，它靠把环保监管积分卖给传统车厂，才赚了7.21亿美元。前一年还账面上都还亏着8.62亿美元。\n属于电动汽车的时代似乎还没有来。\n对消费者来说，现阶段，购置电动车可能也还不是最优选择。《38号车评》曾测算过，在中国，如果不考虑购车和电价补贴，算上折旧，现阶段买电动车并不比燃油车划算。\n\n人们购买电动车的理由，大多还不来自制造商的产品力本身。2021年麦肯锡中国汽车消费报告中，过半的消费者购买电动车的意愿，基于一些尚存争议的观点。\n例如，68%的受访者认为，电动车更环保。然而，在没有更好的电池回收技术前，电动车不一定更环保。\n环保等政策驱动下，电池成本没降下来，科技公司跨界造电动汽车还不能完全颠覆传统的汽车行业。但也只有当更多人使用自己的硬件时，它们未来才有可能靠技术赚钱。\n去年，特斯拉在中国纯电动车市场拿了个销售冠军，卖掉了13.7万辆Model 3。在上海通用总经理王永清看来，传统车企很难放弃现有95%的燃油车市场。而特点鲜明的纯电动车，较高售价带来的现金流，还能支撑其大胆应用新技术。\n2020年，中国卖得最好的纯电动车车型Top10 数据来源：中国汽车工业协会\n造车，卖车只是一块敲门砖。更值得留意的是，科技大公司都正在研发自动驾驶技术。\n2020年12月，一直传言不断的苹果造计划终于有了新传言。苹果确实仍在开发一款整车。这可能是一款基于现代电动车平台E-GMP的自动驾驶汽车，汽车芯片由A12仿生芯片进化而来，并搭载突破性的电池技术。\n可能参与小米造车的石头科技，也正在自主研发多线激光雷达。这一技术既可以用于其主打产品扫地机器人，也许还能用在自动驾驶汽车上。而搭载华为ADS自动驾驶系统的极狐阿尔法S已经亮相上海车展，预计今年年内交付。\n特斯拉、Uber、Google、苹果都曾设想过同一个未来。\n机器人最终会统治交通运输业。无人车载着乘客在道路上和空中穿梭，无人机负责送货。而拥有无人驾驶技术的公司将成为这一切的中心。更好的硬件，软件和服务集成在一起会成为其核心竞争力。\n到时，像特斯拉CEO埃隆·马斯克曾设想的那样——公司利润增长将主要来源于自动驾驶出行服务和付费软件。如果那时，特斯拉还是卖得最好的智能电动汽车品牌。","news_type":1,"symbols_score_info":{"BIDU":0.9,"01810":0.9,"09888":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364955172,"gmtCreate":1614805093096,"gmtModify":1704775439629,"author":{"id":"3568003285919550","authorId":"3568003285919550","name":"Quest","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568003285919550","idStr":"3568003285919550"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364955172","repostId":"1156410668","repostType":4,"repost":{"id":"1156410668","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614782895,"share":"https://ttm.financial/m/news/1156410668?lang=en_US&edition=fundamental","pubTime":"2021-03-03 22:48","market":"us","language":"zh","title":"U.S. inflation measure topped 2.5% for first time since 2008","url":"https://stock-news.laohu8.com/highlight/detail?id=1156410668","media":"老虎资讯综合","summary":"美国五年期通胀保值国债（TIPS）损益平衡通胀率涨至2.5%上方，创2008年以来新高。10年期美债收益率涨向1.48%，日内当前涨幅超过8.0个基点。\n此前，媒体报道称，欧洲央行无意干预欧元区债券收","content":"<p>The U.S. five-year inflation-protected Treasury Bond (TIPS) profit-and-loss balance inflation rate rose above 2.5%, a new high since 2008. The yield on the 10-year U.S. bond rose to 1.48%, and the current increase in the day exceeded 8.0 basis points.</p><p>It follows media reports that the ECB has no intention of intervening in the rally in euro zone bond yields. Germany's 10-year Treasury Bond yield refreshed to a daily high of-0.303%, with the current intraday increase of nearly 5.0 basis points.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. inflation measure topped 2.5% for first time since 2008</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. inflation measure topped 2.5% for first time since 2008\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-03 22:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The U.S. five-year inflation-protected Treasury Bond (TIPS) profit-and-loss balance inflation rate rose above 2.5%, a new high since 2008. The yield on the 10-year U.S. bond rose to 1.48%, and the current increase in the day exceeded 8.0 basis points.</p><p>It follows media reports that the ECB has no intention of intervening in the rally in euro zone bond yields. Germany's 10-year Treasury Bond yield refreshed to a daily high of-0.303%, with the current intraday increase of nearly 5.0 basis points.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/eaa375c3f2142c42f281c81029b9c0da","relate_stocks":{".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156410668","content_text":"美国五年期通胀保值国债（TIPS）损益平衡通胀率涨至2.5%上方，创2008年以来新高。10年期美债收益率涨向1.48%，日内当前涨幅超过8.0个基点。\n此前，媒体报道称，欧洲央行无意干预欧元区债券收益率的涨势。德国10年期国债收益率刷新日高至-0.303%，日内当前涨幅将近5.0个基点。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":371842187,"gmtCreate":1618928544249,"gmtModify":1704717068980,"author":{"id":"3568003285919550","authorId":"3568003285919550","name":"Quest","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568003285919550","idStr":"3568003285919550"},"themes":[],"htmlText":"??????","listText":"??????","text":"??????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371842187","repostId":"1115381700","repostType":4,"repost":{"id":"1115381700","kind":"news","pubTimestamp":1618916552,"share":"https://ttm.financial/m/news/1115381700?lang=en_US&edition=fundamental","pubTime":"2021-04-20 19:02","market":"us","language":"zh","title":"Tech giants are building cars one after another, but it's actually just a stepping stone","url":"https://stock-news.laohu8.com/highlight/detail?id=1115381700","media":"锐问 Record","summary":"加入中国电动车俱乐部，要先搞定2张门票。","content":"<p>In the last six months, the headlines in China's auto industry have all come from big tech companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a tier-one supplier, joined forces with ARCFOX to release a customized new model on this day. Zhiji Auto, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Different from the new forces investing in car manufacturing in the past five years, smartphone manufacturers Xiaomi and big Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>They have to build cars themselves. In the future, this team may still have Didi Chuxing.</p><p>Technology giants are increasingly desperate for a new field that will become a new growth point after the smartphone era. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, is it easier to realize this desire?</p><p><b>To join China Electric Vehicle Club, you have to get 2 tickets first</b></p><p>In China, wanting to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build intelligent pure electric vehicles, the new company first needs two license plates. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps do you have to become a dual-qualified electric vehicle company? Source: Development and Reform Commission, Ministry of Industry and Information Technology</p><p>However, the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. June 2017, Mid<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer published the approval information of new projects, and once it was reported that the approval had been substantially suspended. Now, even if new companies reopen access to build factories and build cars, they face time-consuming approval cycles.</p><p>But it's not entirely without a solution. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car factories that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing automobile manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by the policy.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, there have been car owners picking the tail label of \"JAC\" one after another. Because according to the \"Administrative Measures for External Marking of Automobile Products\" implemented in 2005, the foundry brand must appear at the rear of the car.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the names of manufacturers is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulties and increases communication costs.</p><p>In other words, auto foundry was still in the regulatory gray area at the time.</p><p>It was not until December 2018 that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time in the Administrative Measures for Road Motor Vehicle Manufacturers and Product Access, and also put forward new requirements. For example, new car manufacturers that have not obtained production qualifications need to OEM 30,000 vehicles before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been issued. However, in May 2020, at the second \"Ministerial Channel\" question and answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of Industry and Information Technology, mentioned that the OEM production of new energy enterprises should be liberalized in an orderly manner, and the pilot project of brand authorization should be implemented for R&D and development of innovative new energy vehicle enterprises.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, tram exchange</p><p>The process of applying for qualifications is slow and uncertain, and the faster and more expensive way is to buy a company that already has qualifications outright. Zhao Gang, vice president of Leapmotor, once said, \"Now in the industry, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the buying business that is difficult to figure out. For example, in September 2018, Byton acquired FAW Huali for 1 yuan and took over the latter's debt of 800 million yuan. Later, Byton couldn't raise money, and he had to be busy paying off debts when he was in shortage of money.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquisition of Chongqing Lifan, Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications to acquire, and the asking price of the right qualification will only be higher.</p><p>Weilai adheres to the foundry mode. Qin Lihong, its co-founder, once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I definitely won't do it. We won't get production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second licence were also relaxed.</p><p>In September 2020, the Ministry of Industry, Information Technology and Information Technology of China issued new regulations on the Administration of New Energy Vehicle Manufacturers and Product Access, which deleted the requirement on \"design and development capabilities\". That is to say, technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, and they no longer need to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., or even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite to the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more fierce competition. Xiaomi, Baidu and Didi may face not only Tesla, Nio and XPeng, but also Volkswagen, General Motors and Toyota.</p><p><b>The stepping stone of building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a car, and then push new models at a certain frequency. Tesla spent 3 years polishing the Model S before starting to push a new car in two years. Nio, Ideal, and XPeng also spent about 4 years each building their first production cars.</p><p>But not all companies can succeed. Willing to spend money may not necessarily build a good car. Dyson, which built hair dryers, spent four years and spent 2.5 billion pounds (about 22.7 billion yuan) to give up the plan to build cars.</p><p>Dyson and Sr.<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design and trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired a lot of people in the automobile industry to point out the problem.</p><p>Since 2016, Dyson has two more automotive professionals on its board. Includes,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, a former chief engineer, and Ian Robertson, a key supporter of BMW's EV plans.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a gang of automotive professionals checking the gates, the Dyson Concept features a range of radical designs. Including a low roof, larger wheels, frameless window panes, and \"suicide\" doors that only luxury cars will have.</p><p>In addition to developing and planning new models, the OEM is also responsible for integrating the whole vehicle. The supplier is responsible for developing and producing parts. Although the number of components of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty of OEM managing suppliers will also rise exponentially.</p><p>For the big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt they could do it — Japan's Princestone and France's Michelin.</p><p>More special design is inside the car. Dyson hired a group of engineers who had never touched car air-conditioning systems before, and created a set that could heat and cool this seven-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during city trips, and longer battery life is also the main selling point of Dyson cars. To do so, they had to develop their own suspension for more batteries, and make more room on it.</p><p>Similar to Dyson, China's big technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one will lose one, and no amount of money will fill this hole.</p><p>They may also fail to deliver on schedule, fail to act according to quality requirements, and have unclear standards, resulting in repeated delays in projects. In China, the 15 engineering prototypes handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team should know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. More lean to invest and manage. To this end, Dyson specifically purchased and restored an airport, its warehouse and runway.</p><p>For the new company, if a new plant is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining the qualifications of EIA, fire protection and civil engineering. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he had spent a lot of effort in research and development, but finally found that the cost of mass production was too high. Batteries, battery management, electronics, and cooling systems are much more expensive than internal combustion engines. \"To even the income and expenditure, electric cars have to sell for at least $300,000 each.\"</p><p>And it is already easier to mass-produce high-end models than mid-to low-end models. Buy a<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People who believe in manufacturing technology; People who buy a Toyota Corolla are looking for no breakdowns, fuel efficiency and smoothness. After producing hundreds of thousands a year, reliability is the primary goal of cars.</p><p>In February this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details are not wrong when the production capacity climbs. In a public interview, he once advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's car research project once told Caixin that Xiaomi pursues cost performance, and it has a high probability of building cars. Therefore, mass production at scale is important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid these problems can't be guaranteed by car companies themselves.</p><p>It is still a complex project for technology companies to build a car that will last 15 years in snow and rain.</p><p><b>Now no one has found a better way to make money than selling cars</b></p><p>In the era of fuel vehicles, traditional car factories established 4S shop distribution networks, earning a fortune when selling whole vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling whole cars. In addition, supporting auto finance, such as loans to buy a car, is also an important source of profit.</p><p>An electric car is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Open Tesla's books in 2020, and revenue of $31.5 billion, 94% of which is coming from selling cars. The remaining 6% comes from selling regulatory points, selling software, and even selling brand peripherals.</p><p>Every additional car sold dilutes the cost of developing a model. However, since selling cars for 12 years, Tesla has lost money so far. Last year, it made $721 million by selling environmental regulatory credits to traditional car manufacturers. The previous year, they were still losing $862 million on their books.</p><p>The time for electric vehicles seems to have yet to come.</p><p>For consumers, at this stage, purchasing electric vehicles may not be the best choice. No.38 Car Review has calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is counted, buying an electric vehicle at this stage is no more cost-effective than a fuel vehicle.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric cars do not come from the product power of the manufacturer itself. The willingness of more than half of consumers to buy electric vehicles in the 2021 McKinsey China Auto Consumption Report is based on some still-controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, EVs are not necessarily more environmentally friendly until there is better battery recycling technology.</p><p>Driven by policies such as environmental protection, the cost of batteries has not dropped, and technology companies' cross-border electric vehicles can't completely subvert the traditional automobile industry. But it is only when more people use their own hardware that they will likely make money on technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up the existing 95% fuel vehicle market. The distinctive pure electric vehicle, the cash flow brought by the higher selling price, can also support its bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020Source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What's more noteworthy is that big technology companies are developing autonomous driving technology.</p><p>In December 2020, the rumored<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors of the plan. Apple is indeed still working on a whole car. It could be a self-driving vehicle based on Hyundai's electric vehicle platform, E-GMP, with a car chip evolved from the A12 bionic chip and powered by breakthrough battery technology.</p><p>Those who may be involved in millet car building<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And is also independently developing multi-line lidar. This technology can be used both in its flagship sweeping robot and perhaps in self-driving cars. The Pole Fox Alpha S equipped with Huawei's ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and in the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of it all. Better hardware, software and services integrated together will become its core competencies.</p><p>By then, as Tesla CEO Elon Musk once envisioned-the company's profit growth will mainly come from autonomous mobility services and paid software. If then, Tesla would still be the best-selling smart EV brand.</p>","source":"lsy1616056435833","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech giants are building cars one after another, but it's actually just a stepping stone</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech giants are building cars one after another, but it's actually just a stepping stone\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锐问 Record</strong><span class=\"h-time small\">2021-04-20 19:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the last six months, the headlines in China's auto industry have all come from big tech companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a tier-one supplier, joined forces with ARCFOX to release a customized new model on this day. Zhiji Auto, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Different from the new forces investing in car manufacturing in the past five years, smartphone manufacturers Xiaomi and big Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>They have to build cars themselves. In the future, this team may still have Didi Chuxing.</p><p>Technology giants are increasingly desperate for a new field that will become a new growth point after the smartphone era. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, is it easier to realize this desire?</p><p><b>To join China Electric Vehicle Club, you have to get 2 tickets first</b></p><p>In China, wanting to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build intelligent pure electric vehicles, the new company first needs two license plates. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps do you have to become a dual-qualified electric vehicle company? Source: Development and Reform Commission, Ministry of Industry and Information Technology</p><p>However, the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. June 2017, Mid<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer published the approval information of new projects, and once it was reported that the approval had been substantially suspended. Now, even if new companies reopen access to build factories and build cars, they face time-consuming approval cycles.</p><p>But it's not entirely without a solution. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car factories that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing automobile manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by the policy.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, there have been car owners picking the tail label of \"JAC\" one after another. Because according to the \"Administrative Measures for External Marking of Automobile Products\" implemented in 2005, the foundry brand must appear at the rear of the car.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the names of manufacturers is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulties and increases communication costs.</p><p>In other words, auto foundry was still in the regulatory gray area at the time.</p><p>It was not until December 2018 that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time in the Administrative Measures for Road Motor Vehicle Manufacturers and Product Access, and also put forward new requirements. For example, new car manufacturers that have not obtained production qualifications need to OEM 30,000 vehicles before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been issued. However, in May 2020, at the second \"Ministerial Channel\" question and answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of Industry and Information Technology, mentioned that the OEM production of new energy enterprises should be liberalized in an orderly manner, and the pilot project of brand authorization should be implemented for R&D and development of innovative new energy vehicle enterprises.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, tram exchange</p><p>The process of applying for qualifications is slow and uncertain, and the faster and more expensive way is to buy a company that already has qualifications outright. Zhao Gang, vice president of Leapmotor, once said, \"Now in the industry, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the buying business that is difficult to figure out. For example, in September 2018, Byton acquired FAW Huali for 1 yuan and took over the latter's debt of 800 million yuan. Later, Byton couldn't raise money, and he had to be busy paying off debts when he was in shortage of money.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquisition of Chongqing Lifan, Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications to acquire, and the asking price of the right qualification will only be higher.</p><p>Weilai adheres to the foundry mode. Qin Lihong, its co-founder, once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I definitely won't do it. We won't get production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second licence were also relaxed.</p><p>In September 2020, the Ministry of Industry, Information Technology and Information Technology of China issued new regulations on the Administration of New Energy Vehicle Manufacturers and Product Access, which deleted the requirement on \"design and development capabilities\". That is to say, technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, and they no longer need to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., or even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite to the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more fierce competition. Xiaomi, Baidu and Didi may face not only Tesla, Nio and XPeng, but also Volkswagen, General Motors and Toyota.</p><p><b>The stepping stone of building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a car, and then push new models at a certain frequency. Tesla spent 3 years polishing the Model S before starting to push a new car in two years. Nio, Ideal, and XPeng also spent about 4 years each building their first production cars.</p><p>But not all companies can succeed. Willing to spend money may not necessarily build a good car. Dyson, which built hair dryers, spent four years and spent 2.5 billion pounds (about 22.7 billion yuan) to give up the plan to build cars.</p><p>Dyson and Sr.<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design and trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired a lot of people in the automobile industry to point out the problem.</p><p>Since 2016, Dyson has two more automotive professionals on its board. Includes,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, a former chief engineer, and Ian Robertson, a key supporter of BMW's EV plans.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a gang of automotive professionals checking the gates, the Dyson Concept features a range of radical designs. Including a low roof, larger wheels, frameless window panes, and \"suicide\" doors that only luxury cars will have.</p><p>In addition to developing and planning new models, the OEM is also responsible for integrating the whole vehicle. The supplier is responsible for developing and producing parts. Although the number of components of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty of OEM managing suppliers will also rise exponentially.</p><p>For the big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt they could do it — Japan's Princestone and France's Michelin.</p><p>More special design is inside the car. Dyson hired a group of engineers who had never touched car air-conditioning systems before, and created a set that could heat and cool this seven-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during city trips, and longer battery life is also the main selling point of Dyson cars. To do so, they had to develop their own suspension for more batteries, and make more room on it.</p><p>Similar to Dyson, China's big technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one will lose one, and no amount of money will fill this hole.</p><p>They may also fail to deliver on schedule, fail to act according to quality requirements, and have unclear standards, resulting in repeated delays in projects. In China, the 15 engineering prototypes handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team should know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. More lean to invest and manage. To this end, Dyson specifically purchased and restored an airport, its warehouse and runway.</p><p>For the new company, if a new plant is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining the qualifications of EIA, fire protection and civil engineering. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he had spent a lot of effort in research and development, but finally found that the cost of mass production was too high. Batteries, battery management, electronics, and cooling systems are much more expensive than internal combustion engines. \"To even the income and expenditure, electric cars have to sell for at least $300,000 each.\"</p><p>And it is already easier to mass-produce high-end models than mid-to low-end models. Buy a<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People who believe in manufacturing technology; People who buy a Toyota Corolla are looking for no breakdowns, fuel efficiency and smoothness. After producing hundreds of thousands a year, reliability is the primary goal of cars.</p><p>In February this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details are not wrong when the production capacity climbs. In a public interview, he once advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's car research project once told Caixin that Xiaomi pursues cost performance, and it has a high probability of building cars. Therefore, mass production at scale is important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid these problems can't be guaranteed by car companies themselves.</p><p>It is still a complex project for technology companies to build a car that will last 15 years in snow and rain.</p><p><b>Now no one has found a better way to make money than selling cars</b></p><p>In the era of fuel vehicles, traditional car factories established 4S shop distribution networks, earning a fortune when selling whole vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling whole cars. In addition, supporting auto finance, such as loans to buy a car, is also an important source of profit.</p><p>An electric car is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Open Tesla's books in 2020, and revenue of $31.5 billion, 94% of which is coming from selling cars. The remaining 6% comes from selling regulatory points, selling software, and even selling brand peripherals.</p><p>Every additional car sold dilutes the cost of developing a model. However, since selling cars for 12 years, Tesla has lost money so far. Last year, it made $721 million by selling environmental regulatory credits to traditional car manufacturers. The previous year, they were still losing $862 million on their books.</p><p>The time for electric vehicles seems to have yet to come.</p><p>For consumers, at this stage, purchasing electric vehicles may not be the best choice. No.38 Car Review has calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is counted, buying an electric vehicle at this stage is no more cost-effective than a fuel vehicle.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric cars do not come from the product power of the manufacturer itself. The willingness of more than half of consumers to buy electric vehicles in the 2021 McKinsey China Auto Consumption Report is based on some still-controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, EVs are not necessarily more environmentally friendly until there is better battery recycling technology.</p><p>Driven by policies such as environmental protection, the cost of batteries has not dropped, and technology companies' cross-border electric vehicles can't completely subvert the traditional automobile industry. But it is only when more people use their own hardware that they will likely make money on technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up the existing 95% fuel vehicle market. The distinctive pure electric vehicle, the cash flow brought by the higher selling price, can also support its bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020Source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What's more noteworthy is that big technology companies are developing autonomous driving technology.</p><p>In December 2020, the rumored<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors of the plan. Apple is indeed still working on a whole car. It could be a self-driving vehicle based on Hyundai's electric vehicle platform, E-GMP, with a car chip evolved from the A12 bionic chip and powered by breakthrough battery technology.</p><p>Those who may be involved in millet car building<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>And is also independently developing multi-line lidar. This technology can be used both in its flagship sweeping robot and perhaps in self-driving cars. The Pole Fox Alpha S equipped with Huawei's ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and in the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of it all. Better hardware, software and services integrated together will become its core competencies.</p><p>By then, as Tesla CEO Elon Musk once envisioned-the company's profit growth will mainly come from autonomous mobility services and paid software. If then, Tesla would still be the best-selling smart EV brand.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml\">锐问 Record</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/747a43d33fdea5605f94cd4071257af1","relate_stocks":{"09888":"百度集团-SW","01810":"小米集团-W","AAPL":"苹果","BIDU":"百度"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115381700","content_text":"最近半年，中国汽车业的头条新闻都来自科技大公司。4月19日正式开幕的上海车展也不例外。\n声称不造车，想做一级供应商的智能手机厂商华为，这天联合北汽极狐（ARCFOX）发布了定制的新车型。上汽和阿里联合打造的智已汽车也要发布首款量产车。\n和过去5年里，投资造车新势力不同，智能手机厂商小米和互联网大公司百度，都要亲自下场造车。未来，这个队伍可能还有滴滴出行。\n科技巨头们越来越迫切需要一个新领域，成为智能手机时代之后的新增长点。智能电动汽车是它们找的新方向之一。\n但从投资到亲自造车，想要实现这一愿望变容易了么？\n加入中国电动车俱乐部，要先搞定2张门票\n在中国，想要像特斯拉一样造智能纯电动汽车，新公司首先需要两块牌照。一块用来建厂造车，由国家发改委主导；一块用来建公司，卖车，归工信部管。\n成为双资质电动车企，一共分几步？信息来源：发改委、工信部\n但申请条件似乎在逐渐放宽。\n第一块牌照很难拿。2017年6月，中国新能源汽车产能过剩的争议中，发改委不再公布新项目审批信息，一度传出审批实质上已暂停的消息。现在，即使新公司建厂造车的准入重新开放，它们也面临耗时的审批周期。\n可也不是完全没有解决方案。金杜律师事务所合伙人姚丽娟认为，申请生产资质的话，已经有整车或者零部件制造经验的传统车厂会更容易些。除了独立申请资质外，对造车新势力来说，还可以选择代工生产或者直接收购现有汽车生产企业。\n其中，汽车代工模式正在逐渐被政策认可。\n2018年5月，蔚来交付首批量产ES8以来，陆续出现过车主抠“江淮”尾标。因为照2005年施行的《汽车产品外部标识管理办法》，车尾必须出现代工厂品牌。\n对此，蔚来CEO李斌曾表示，国家强制要求乘用车粘贴生产企业名称的规定已经不合时宜，对于处在品牌培育期的初创企业，这项规定增加了额外的难度，同时也增加了沟通成本。\n换句话说，当时汽车代工还在监管的灰色地带。\n直到2018年12月《道路机动车辆生产企业及产品准入管理办法》中，工信部才首次在政策层面肯定了汽车代工模式，同时也提了新要求。比如，未获得生产资质的新造车企业需先代工生产3万辆，才有资格申请资质以及建设工厂。\n代工管理办法草案目前尚未出台。不过，2020年5月，第十三届全国人大三次会议第二场“部长通道”问答记者会上，工信部部长苗圩提到，有序放开新能源企业代工生产，以及对于研发创新型新能源汽车企业，实行品牌授权试点。\n目前，市面上拿到这一资质的公司共18家。来源：据公开信息整理，电车汇\n申请资质进程缓慢，充满不确定性，而更快，也更花钱的办法是直接收购一家已经有资质的公司。零跑汽车副总裁赵刚曾表示，“现在行业里，一个资质大概4个亿。”\n这一价格不包括收购企业背后难以摸清的隐形债务。比如，2018年9月，拜腾1元收购一汽华利，接管后者8亿元债务。后来，拜腾融不到钱，闹钱荒还要忙着还债。\n后来，理想汽车收购重庆力帆，恒大收购国能。对新入场的公司而言，可收购的资质已经越来越少，其中合适的资质要价只会更高。\n而蔚来坚持代工模式。其联合创始人秦力洪曾表示，“资质我们也喜欢，但你让我花10个亿去买个空壳，我肯定不干。我们不会通过收购壳资源获得生产资质。”\n去年9月，第二块牌照的申请条件也放宽了。\n2020年9月，中国工信和信息化部《新能源汽车生产企业及产品准入管理规定》新规，删除了关于“设计开发能力” 的要求。也就是说，小米或者百度这些科技公司想要申请一家公司造电动车，不再要求必须自主研发核心技术——电池、电机和电控。\n清华大学汽车工程开发研究院常务副院长宋健认为，新规降低了企业及其产品的准入门槛，更多新玩家势必进场造车，特别是人民币玩家。\n他们能购买研发技术、生产技术、安全技术等，甚至直接买下一家传统车厂，顺利将质量可靠、用户喜爱的产品投向市场。\n可进入2020年后，中国电动汽车市场变得残酷起来。量产车推得再快，窗口期也已经关闭。补贴结束，外资引入，新公司势必面临更激烈的竞争。小米、百度、滴滴可能面对的竞争对手，不只有特斯拉、蔚来、小鹏，还有大众、通用和丰田。\n造车这块敲门砖，还是有点硬\n一般来说，新入场的公司会集中优势资源做好一辆车，再按照一定频率推新车型。特斯拉花3年打磨 Model S，才开始两年推一款新车。蔚来、理想、小鹏也各自花了约4年时间打造第一款量产车。\n但不是所有公司都能成功。肯花钱也不一定能造好车。造电吹风的戴森耗了四年时间，花了25亿英镑（约227亿元人民币），放弃了造车计划。\n戴森和老伙伴全球设计和技术副总裁彼得·盖马克（Peter Gammack）亲自把关车身设计，反复试验。但汽车设计讲究精度，学习曲线陡峭。因此，他们还聘用了很多汽车业人士，用来指出问题所在。\n2016年起，戴森董事会里多了两位汽车专业人士。包括，阿斯顿马丁前总工程师Ian Minards和宝马电动车计划的重要支持者Ian Robertson。\n戴森概念电动车\n即使有一帮汽车专业人士把关，戴森概念车还是采用了一系列激进的设计。包括低矮的车顶、更大的车轮、无框的窗玻璃，以及豪车才会配置的“自杀”门。\n除了研发、规划新车型，主机厂还要负责集成整车。而供应商负责开发、生产零部件。虽然电动汽车的零部件数量比燃油车要少，但每一个创新的设计，都会增加供应商开发难度和成本。主机厂管理供应商的难度，也会指数级上升。\n光是大轮胎，戴森就和好几家供应商讨论过可行性。最后只有两家轮胎制造商觉得可以做到——日本的普林斯通和法国的米其林。\n更特别的设计在汽车内部。戴森请了一批从未接触过汽车空气调节系统的工程师，搞了一套能给这辆7座SUV分区加热、制冷的，而且还要做到省电。\n除了车身设计，不用在城市旅途中停下来充电，更长的续航时间也是戴森汽车主打的卖点。为此，他们不得不为更多的电池，自主研发悬架，并在上面腾出更多的空间。\n和戴森类似，中国科技大公司或许也不用担心品牌号召力，有实力的供应商乐得合作。但高难度的汽车设计，一旦成本超出预期，造一台亏一台，有多少钱都填不上这个窟窿。\n它们还有可能无法如期交货，不按质量要求行事，标准扯不清楚，导致项目一拖再拖。在中国，交给工信部检验的15辆工程样车，还需要满足安全法规，要有专业团队懂得和国家部委上下沟通。\n由于每款车型的尺寸、工艺不同，对生产线的要求也不同。车企通常会把一、两个车型放在一个工厂集中生产。投资和管理起来更加精益。为此，戴森专门购买并修复了一座机场，及其仓库和跑道。\n对新公司来说，如果有新厂投产，还要同步土建进度，包括拿到环评，消防，土建认可资格。进口设备也要跟进物流。一旦哪个环节卡壳，资金流需要跟得上。\n最终，詹姆斯·戴森曾对《金融时报》的记者感慨，花了很多力气研发，但最后发现量产成本太高了。电池，电池管理，电子设备和冷却系统比内燃机要贵得多。“要收支打平，电动车至少得卖30万美元一辆。”\n而量产高端车型已经比中低端车型容易。买一辆劳斯莱斯的人，信奉的是制造工艺；买一辆丰田卡罗拉的人，追求的是不出故障、省油和平顺。年产数十万以后，可靠性是汽车的首要目标。\n今年2月，特斯拉CEO马斯克也承认，在产能爬坡时，保证细节不出错很难。他曾在公开采访中，建议消费者，要么一开始就买，要么等产量稳定下来再买。\n一位接近小米汽车调研项目的人士曾对《财新》表示，小米追求性价比，它造车大概率要走量的。因此规模量产很重要。但车企能否充分供应？电池、芯片等供应链是不是能跟上？这些问题恐怕车企自己都无法保证。\n科技公司要制造一辆要在雨雪、风雪中持续行驶15年的汽车，至今仍是一项复杂的工程。\n现在除了卖车，没谁找到更好的赚钱办法\n燃油车时代，传统车厂建立4S店经销网络，卖整车时赚一笔钱，维修保养时再赚一笔。而且，卖配件远比卖整车更赚钱。除此之外，配套的汽车金融，比如贷款买车，也是其重要的利润来源。\n电动车更像一台电子设备，不太需要保养。直接开店销售的确更能保证销售体验和利润最大化。翻开特斯拉2020年的账簿，收入315亿美元，其中94%正来自卖车。剩下6%来自出售监管积分、卖软件，甚至是卖品牌周边。\n每多卖一辆车，就会摊薄研发一个车型的成本。不过，卖车12年以来，特斯拉亏损至今。去年，它靠把环保监管积分卖给传统车厂，才赚了7.21亿美元。前一年还账面上都还亏着8.62亿美元。\n属于电动汽车的时代似乎还没有来。\n对消费者来说，现阶段，购置电动车可能也还不是最优选择。《38号车评》曾测算过，在中国，如果不考虑购车和电价补贴，算上折旧，现阶段买电动车并不比燃油车划算。\n\n人们购买电动车的理由，大多还不来自制造商的产品力本身。2021年麦肯锡中国汽车消费报告中，过半的消费者购买电动车的意愿，基于一些尚存争议的观点。\n例如，68%的受访者认为，电动车更环保。然而，在没有更好的电池回收技术前，电动车不一定更环保。\n环保等政策驱动下，电池成本没降下来，科技公司跨界造电动汽车还不能完全颠覆传统的汽车行业。但也只有当更多人使用自己的硬件时，它们未来才有可能靠技术赚钱。\n去年，特斯拉在中国纯电动车市场拿了个销售冠军，卖掉了13.7万辆Model 3。在上海通用总经理王永清看来，传统车企很难放弃现有95%的燃油车市场。而特点鲜明的纯电动车，较高售价带来的现金流，还能支撑其大胆应用新技术。\n2020年，中国卖得最好的纯电动车车型Top10 数据来源：中国汽车工业协会\n造车，卖车只是一块敲门砖。更值得留意的是，科技大公司都正在研发自动驾驶技术。\n2020年12月，一直传言不断的苹果造计划终于有了新传言。苹果确实仍在开发一款整车。这可能是一款基于现代电动车平台E-GMP的自动驾驶汽车，汽车芯片由A12仿生芯片进化而来，并搭载突破性的电池技术。\n可能参与小米造车的石头科技，也正在自主研发多线激光雷达。这一技术既可以用于其主打产品扫地机器人，也许还能用在自动驾驶汽车上。而搭载华为ADS自动驾驶系统的极狐阿尔法S已经亮相上海车展，预计今年年内交付。\n特斯拉、Uber、Google、苹果都曾设想过同一个未来。\n机器人最终会统治交通运输业。无人车载着乘客在道路上和空中穿梭，无人机负责送货。而拥有无人驾驶技术的公司将成为这一切的中心。更好的硬件，软件和服务集成在一起会成为其核心竞争力。\n到时，像特斯拉CEO埃隆·马斯克曾设想的那样——公司利润增长将主要来源于自动驾驶出行服务和付费软件。如果那时，特斯拉还是卖得最好的智能电动汽车品牌。","news_type":1,"symbols_score_info":{"BIDU":0.9,"01810":0.9,"09888":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364955172,"gmtCreate":1614805093096,"gmtModify":1704775439629,"author":{"id":"3568003285919550","authorId":"3568003285919550","name":"Quest","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568003285919550","idStr":"3568003285919550"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364955172","repostId":"1156410668","repostType":4,"repost":{"id":"1156410668","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614782895,"share":"https://ttm.financial/m/news/1156410668?lang=en_US&edition=fundamental","pubTime":"2021-03-03 22:48","market":"us","language":"zh","title":"U.S. inflation measure topped 2.5% for first time since 2008","url":"https://stock-news.laohu8.com/highlight/detail?id=1156410668","media":"老虎资讯综合","summary":"美国五年期通胀保值国债（TIPS）损益平衡通胀率涨至2.5%上方，创2008年以来新高。10年期美债收益率涨向1.48%，日内当前涨幅超过8.0个基点。\n此前，媒体报道称，欧洲央行无意干预欧元区债券收","content":"<p>The U.S. five-year inflation-protected Treasury Bond (TIPS) profit-and-loss balance inflation rate rose above 2.5%, a new high since 2008. The yield on the 10-year U.S. bond rose to 1.48%, and the current increase in the day exceeded 8.0 basis points.</p><p>It follows media reports that the ECB has no intention of intervening in the rally in euro zone bond yields. Germany's 10-year Treasury Bond yield refreshed to a daily high of-0.303%, with the current intraday increase of nearly 5.0 basis points.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. inflation measure topped 2.5% for first time since 2008</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. inflation measure topped 2.5% for first time since 2008\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-03 22:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The U.S. five-year inflation-protected Treasury Bond (TIPS) profit-and-loss balance inflation rate rose above 2.5%, a new high since 2008. The yield on the 10-year U.S. bond rose to 1.48%, and the current increase in the day exceeded 8.0 basis points.</p><p>It follows media reports that the ECB has no intention of intervening in the rally in euro zone bond yields. Germany's 10-year Treasury Bond yield refreshed to a daily high of-0.303%, with the current intraday increase of nearly 5.0 basis points.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/eaa375c3f2142c42f281c81029b9c0da","relate_stocks":{".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156410668","content_text":"美国五年期通胀保值国债（TIPS）损益平衡通胀率涨至2.5%上方，创2008年以来新高。10年期美债收益率涨向1.48%，日内当前涨幅超过8.0个基点。\n此前，媒体报道称，欧洲央行无意干预欧元区债券收益率的涨势。德国10年期国债收益率刷新日高至-0.303%，日内当前涨幅将近5.0个基点。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
