"JiYue 07 has finally hit the market."

This "masterpiece" that brings together resources from Baidu, Geely, and CATL is finally ready to compete fiercely in the market.

The pricing of JiYue 07 is quite sincere, with 3 models and 6 color options, priced at 199,900 to 289,900 yuan during the limited-time offer. This pricing strategy, heavily influenced by Xiaomi, has a clear target: Xiaomi itself.

CEO Xia Yiping stated at the press conference, "We're all in."

Just ten days before uttering those words, Xia Yiping shed tears in an interview.

"As you all know, we sold over 200 units in January and over 100 in February. It's really hard for me," Xia Yiping said at the time.

Crying won't help; the automotive market doesn't believe in tears. Why did Xia Yiping choose to bring up his tears again?

Even if JiYue's PR team wanted to garner sympathy through Xia Yiping's tears, ultimately, the market speaks through sales figures.

Of course, building cars is no easy feat. Both the CEOs giving speeches on stage and the engineers working overtime behind the scenes have invested a lot of effort and deserve respect. However, as competition in the industry intensifies, it's hard to say whether JiYue 07 can carry the brand's hopes for survival in the future.

// JiYue 07, "to be admired from afar but not to be played with"?

On August 22, ten days before Xia Yiping's tears, JiYue's PR head Xu Jiye criticized Xiaomi on social media, even using terms like "dumping" and "the worst kind of merchant." Following this, CEO Xia Yiping issued an internal letter reprimanding the relevant departments for Xu Jiye's actions...

Criticism is criticism, and tears are tears. Criticism expresses an attitude but cannot replace accountability. Tears express a feeling, a shareholder's attitude: "Look, even though sales are poor, I recognize my mistakes and feel guilty." However, this may not reflect true reflection on the past "hundreds of monthly sales."

After all, Xia Yiping has no reason to feel wronged about JiYue's sales figures.

Survival of the fittest; the market is cruel and unforgiving. Mistakes lead to passivity, and passivity necessitates rectification.

The question is, if indifference to past failures and disregard for users' enthusiastic feedback persist, what good are tears or criticism? Who should be held responsible for JiYue 01's dismal sales?

JiYue 01, born with a silver spoon in its mouth, had both technology and funding. Geely had top manufacturing talent, and Baidu had outstanding software engineers. Yet, the lowest monthly sales figure was less than 200 units.

The saying goes, "A weak commander exhausts his troops."

Perhaps from an outsider's perspective, the reason for JiYue 01's poor sales wasn't a lack of capability but poor decision-making.

For instance, product decisions.

Whether internet companies or automakers, arrogance is a cardinal sin when creating products for users.

JiYue 01's hardware capabilities were not poor. Positioned in the mid-to-large SUV market, it fully benchmarked the Model Y. In terms of product capabilities, it offered a range of 580-780km, a top-spec 544 horsepower, 0-100km/h acceleration in 3.8 seconds, and 10%-80% fast charging in just half an hour...

The biggest issue with this product was adopting Tesla's "anti-human" design elements, such as screen-based gear shifting and button-controlled turn signals.

Of course, design has no right or wrong. However, users have the power to choose not to buy. Poor sales figures are the most apt footnote.

Perhaps Xia Yiping saw Tesla's success and wanted to replicate it. But Tesla has a strong brand appeal and robust channel strength, so it doesn't worry about sales. This allows Tesla to be more aggressive in product definition, albeit at the cost of losing some user groups.

As a new brand, for JiYue to "define" user habits may seem "arrogant" to many users.

Surprisingly, this arrogance seems to persist in JiYue 07.

JiYue 07 has many strengths, including an 800V dual-motor setup with a maximum total power of 530kW, peak torque of 653N·m, and 0-100km/h acceleration in 3.5 seconds.

For charging, it uses CATL's Qilin battery, requiring only 10 minutes to charge from 10% to 80%.

However, JiYue 07 still employs screen-based gear shifting, button-controlled turn signals, and the absence of door handles. It's just that this time, the pricing is competitive enough to ensure better sales performance.

As a car enthusiast, my first encounter with JiYue 07 was through a camouflaged image online. Though I couldn't see the logo, the lines on the side of the car gave me a dream car vibe. I believe many people feel the same way when they first see JiYue 07.

Design-wise, JiYue 07 is stunning and impressive, surpassing Xiaomi SU7 in terms of design, in my opinion.

It's simplistic, elegant, and aesthetically pleasing.

This aesthetics is both "real" and "illusory."

Real in that, as a modern automotive product, JiYue 07 is a success. Illusory in that, as the saying goes, "to be admired from afar but not to be played with." Setting aside aesthetics, if JiYue 07 is examined as a "car," it may not fully address the pain points of most users' needs.

One crucial factor in Xiaomi SU7's success is that it delivers the features users want. In contrast, JiYue stubbornly and arrogantly chose a different path.

From a product manager's perspective, Xiaomi SU7 meets almost all users' functional needs. It even offers features like expansion ports and physical buttons, which are very "internet-oriented," unlike JiYue 07.

Of course, product managers tend to be "obsessive" and full of "elitism."

However, under this "elitist" product definition, ordinary users have no choice but to passively accept. But good product managers, even with their elitist definitions, can still accurately discern needs and balance design while meeting user pain points.

After all, making cars isn't like crafting art or digital products. Insisting on Sony-style romance may only jeopardize the brand's future opportunities.

Competition in the automotive market is fierce and cutthroat. In the mainstream 200,000-300,000 yuan market segment, products that can truly support sales must meet the greatest common denominator of user needs.

Regrettably, Xia Yiping may not have fully grasped this lesson from JiYue 01's failure.

// Whether popular or not, will JiYue 07 be a "swan song"?

JiYue 07's launch cannot afford to fail, as the brand's options are limited.

At the launch event, Robin Li, Zeng Yuqun, and Li Bin attended to lend support, creating a sense of momentum. However, Geely's true helmsman, Li Shufu, was absent, only releasing a congratulatory video for the new car's launch.

Today's launch events are like pre-battle drumming; the louder the sound, the more confidence it instills.

While Li Shufu's absence is disappointing, it makes sense upon reflection. An adopted "stepson" can't compare to a "biological son"; too much enthusiasm might not be a good thing. Moreover, JiYue's future is uncertain, and JiYue 07 may face a "life-or-death" situation.

Will JiYue 07 be Xia Yiping and JiYue's "swan song"?

Only time will tell. As a car enthusiast, I personally hope to see "08, 09" models in the future.

After all, JiYue and Xia Yiping have had a tough journey in the automotive industry.

From the company's name change in August last year to JiYue 01's poor sales after its launch, Xia Yiping faced a chaotic situation. From "Jidu" to "JiYue," the brand had to redefine itself and complete the entire branding and promotion process from scratch.

According to Tianyancha APP, Geely currently holds a 65% stake in JiYue, while Baidu holds 35%.

Despite being backed by powerful automaker Geely and tech giant Baidu, Xia Yiping has still encountered all the pitfalls.

"JiYue didn't start with a billion users," said Xia Yiping. "JiYue has only been around for 12 months since its inception and is a completely new brand."

I believe Xia Yiping is sincere in his statement.

JiYue didn't start with a billion users, nor did NIO when it was founded. Xpeng and Lixiang need not be mentioned. Among the new forces in the automotive industry, aside from Xiaomi and HarmonyOS-powered vehicles, few can claim to have had hundreds of millions of users from the start.

JiYue's dilemma isn't a lack of users or its 12-month history; it's that until now, JiYue hasn't truly established its own user identity.

Look at the successful brands in the automotive industry; they all have distinct labels.

NIO is known for its social aspect, Lixiang for family-oriented features, Wenjie for its smart technology, Xiaomi and Zeekr for tech-driven sports cars, and Lixiang One for its extreme cost-effectiveness...

What is JiYue's label? Automotive robots?

The question is, can this brand identity stand the test of time? In terms of products, JiYue has taken a radical approach, eliminating almost all physical buttons in favor of voice interaction and screens, which looks futuristic but lacks sufficient differentiation.

Voice interaction is a standard feature in most cars on the market, and some automakers are integrating large models. The user experience doesn't vary significantly.

In today's automotive market, a truly valuable brand label is one that stands out. Just as Audi once represented technology, BMW represented sports, and Mercedes-Benz represented luxury.

JiYue's "automotive robot" label feels more like a "self-defined" one; whether the market will accept it remains to be seen.

Regarding autonomous driving, aside from brands like Wenjie and Zhijie under HarmonyOS, with Xpeng's MONA bringing autonomous driving into the 160,000 yuan market segment, claiming autonomous driving as JiYue's label may not convince many.

Objectively speaking, Rome wasn't built in a day, and a brand label can't be established with just two models. JiYue still has time in this regard, but that depends on whether JiYue 07 can generate significant sales and positive financial returns.

Beyond branding, JiYue's most pressing issue is its channel strategy.

If we compare automakers to water utilities, dealerships are the pipeline network. No matter how much water is stored in the utility, without proper pipelines, how can it be distributed?

JiYue hasn't publicly disclosed its channel layout and expansion progress, but it plans to increase its dealerships to over 250 by the end of this year.

What does "over 250" mean?

Xpeng has 611 dealerships (as of June), Lixiang One has 653, and even Nezha has 539. In terms of channel construction, JiYue lags far behind.

From this perspective, whether JiYue 07 becomes popular or not, it's in an awkward position.

If it gains popularity but then fades, can existing channels sustain future adjustments like price cuts? For how long?

If JiYue 07 sells as well as Xiaomi SU7, how can such a limited number of dealerships handle the initial tens of thousands of orders and ensure timely delivery?

These are thorny issues.

If not handled properly, potential customers may switch to Xiaomi or Zeekr, or there could be a high rate of cancellations due to delayed deliveries.

Currently, this awkward problem seems unsolvable.

This issue is also being faced by Xiaomi Motors, which has insufficient channels. After placing orders, many intended Xiaomi car buyers ended up switching to Zeekr due to delivery delays.

In the automotive industry, channel construction is slow and requires significant resources and effort. However, it's crucial. Although many joint venture dealerships are considering withdrawing or switching brands, switching also carries risks.

Many successful new energy vehicle brands exist, from high-end options like NIO and Lixiang to more affordable choices like Lixiang One. What makes JiYue stand out to investors?

An investor expressed concerns: "If JiYue 07's subsequent order growth is insufficient, it may affect the expansion speed of its dealerships. Opening 4S stores is one thing, but JiYue only has two models to sell, and JiYue 01's sales are sluggish. It's uncertain whether the newly launched JiYue 07 can support the operation of a dealership."

Realistically, while JiYue 07's pricing is competitive, it doesn't have an overwhelming advantage over Xiaomi or its sibling brand Zeekr.

In today's automotive market, if your product doesn't have an overwhelming advantage, it's likely to get caught in a protracted "price war."

Therefore, it's foreseeable that Xia Yiping and JiYue will face a fierce "war" on multiple fronts: branding, channels, and pricing.

Regarding the future, JiYue has its own vision.

At the JiYue 07 launch event, Xia Yiping predicted that 2025 will be the year when non-high-level autonomous driving vehicles will be phased out. Next year, when Tesla's FSD enters China and Xpeng's MONA gains traction, autonomous driving capabilities may become JiYue's last trump card in market competition.

From this perspective, if the newly launched JiYue 07 can maintain its momentum, it won't be without cards to play in the upcoming "sales war."

Ultimately, it's about capturing consumers' minds. Why did joint venture brands lose so decisively? Not just because they lost in technology or products but also in capturing consumers' minds.

Whether JiYue can capture consumers' minds is worth anticipating.

Disclaimer: This article comments based on legally disclosed company information and publicly available data, but the author does not guarantee the completeness or timeliness of this information. Additionally, investing in the stock market involves risks, and investors should exercise caution. This article does not constitute investment advice; investors should make their own decisions regarding investments.