Recently, media reports claimed that the standard range version of Gemstone 01 will be launched on August 16. It is reported that this car is likely to be positioned as a new entry-level model, lowering the price threshold for the Gemstone 01 series.

The currently available Luxury 6-Seater and Versatile 7-Seater models are priced at 359,900 yuan and 349,900 yuan, respectively. The standard range version of Gemstone 01 will be priced starting at 299,900 yuan.

Although I've mentioned it here, many people may still be unfamiliar with Gemstone 01. So before we dive into the article, let's answer a question first: Who is Gemstone Motors?

Who is Gemstone Motors? Gemstone 01 is the first model under Gemstone Motors, a subsidiary of Luoke Intelligence. Luoke Intelligence was founded by Chang Jing, the founder of Roborock Technology. Shortly after its establishment, Luoke Intelligence announced a strategic cooperation agreement with Weiqiao Entrepreneurial Group, but due to a lack of automobile manufacturing qualifications, they brought in Beijing Automotive Group to participate. By the way, although we mentioned Beijing Automotive Group earlier, it has no relation to Beijing Automotive Industry Holding Co., Ltd.

Around 2016, Beijing Automotive Group transferred its 51% stake in Beijing Automotive Manufacturing to Beijing Automobile Assembly Plant, which held the remaining 49% stake, turning Beijing Automotive Manufacturing into a private enterprise. In 2020, Fulu Group, known as the 'King of Low-Speed Electric Vehicles,' took over Beijing Automotive Manufacturing and relocated its headquarters to Qingdao. Until February of this year, with the equity change of Qingdao Fulu, the controlling shareholder of Beijing Automotive Manufacturing (Qingdao), Zhang Bo, Chairman of Weiqiao Group, officially took control of Beijing Automotive Manufacturing.

As one of the private enterprises most adept at utilizing capital, Weiqiao Group has three listed companies under its umbrella: Weiqiao Textile, Hongchuang Holdings, and China Hongqiao Group. Weiqiao Group holds a prominent position in the aluminum and cotton industries. However, since 2019, China's aluminum production and sales rate has been 90.87%, indicating overcapacity in the industry. Naturally, Weiqiao Group had to make alternative plans, and 'backdoor listing for automobile manufacturing' was one of them.

With this vision in mind, Weiqiao Group acted swiftly. In January 2023, Weiqiao Group acquired a 50% stake in Beijing Blue Queling Automobile Technology Co., Ltd., taking control of Lingtu Automobile. In February, Weiqiao Group officially took control of Beijing Automotive Manufacturing. In May, Beiqi Leichi's new energy MINI truck, which Weiqiao Group orchestrated, was launched, positioned as a pure electric short-distance cargo transportation product. In August, Weiqiao Group's 'Colorful Automobile' was officially launched for sale, targeting the A0-class pure electric market. At the end of September, Weiqiao Group invested US$1 billion in Shanghai Kezhi Smart Technology Co., Ltd. to produce Gemstone 01, positioning it as a medium to large electric family SUV, competing with Lixiang L series. This demonstrates Weiqiao Group's generosity, swiftness, accuracy, ruthlessness, and immense ambition, reminiscent of Xu Jiayin in his heyday.

The market is the touchstone. But does the market truly embrace this car? Are consumers genuinely receptive? Firstly, in terms of positioning, Gemstone 01 targets the medium to large intelligent luxury SUV market, which has transitioned from a blue ocean to a red ocean, with rivals like Lixiang and Wenjie eyeing the space. What sets Gemstone 01 apart?

Sales figures also bear this out. In the first five months of this year, Gemstone Motors sold 855, 552, 563, 154, and 163 vehicles, respectively. Sales in June were only 260 vehicles, meaning that in the first half of the year, Gemstone Motors' cumulative sales amounted to just 2,547 vehicles. The joys and sorrows of automakers are not shared equally; Xiaomi Motors, which started around the same time, has already surpassed 10,000 monthly sales.

Conclusion: Qualifications, funding, and sales; automobile manufacturing is an incredibly complex endeavor. The collapses of NIO and HiPhi have proven this point with actual cases. Perhaps Gemstone Motors is prepared for this, but given the current market situation, it may struggle to withstand the harsh realities. Moreover, since the beginning of this year, automakers have engaged in price wars, attempting to boost sales through price cuts, and new models have flooded various market segments. With fierce competition all around, it seems that Gemstone Motors' 'golden time' may have passed.