Introduction

Introduction

The list of new vehicle products announced by the Ministry of Industry and Information Technology in the 384th batch has been released.

Author: Deng Yongtuo

Editor in Charge: Cao Jiadong

Editor: He Zengrong

Most of the new models worthy of attention in this issue are new energy vehicles with electricity. With the continuous emergence of new vehicles, the attention of the new energy market has also increased significantly. For example, NIO's sub-brand Ledo and the first new model of Xpeng's new series MONA, which have been warmed up for a long time, are among them, and the newly unveiled Lynk & Co Z10 in Gothenburg has also made the list, indicating that it is closer to its official launch.

smart #5: Focusing on a Unique and Rugged Style

Product Overview: At the smart booth of the Beijing Auto Show, the concept car located in the center spotlights a rugged off-road style, and this model is about to go into mass production, which is the smart #5 appearing in the new vehicle catalog. The smart #5 production version retains many design details of the concept version, with a rounded overall shape, a distinct crossover style, and unique exterior packages. It also offers multiple styles of front and rear bumper trim strips to choose from. According to the declaration information, the smart #5 not only has multiple styles of exterior, but also has a rich variety of power forms, including a single-motor rear-wheel-drive version, a dual-motor four-wheel-drive version, and a BRABUS high-performance version will not be absent.

Market Analysis: As smart's third product since it embarked on the path of full electrification, the smart #5 adopts a rugged off-road design style, which caters to the current hot demand in the rugged off-road market. This is a bold innovation by the smart brand, and the adoption of an 800-volt pure electric platform also brings new options to consumers who love these rugged SUVs. It is worth mentioning that the wheelbase of the smart #5 reaches 2,900 millimeters, and the vehicle length is 4,705 millimeters, positioning it as a mid-size SUV. This will also be the largest model in the current smart brand lineup, further expanding smart's product portfolio.

Review and Prediction: The rugged off-road market is currently "overcrowded" with new products emerging one after another, bringing consumers new choices and making the market competition even more intense. However, considering that most new energy products following the rugged off-road route adopt plug-in hybrid or extended-range technology routes, there are not many pure electric models to choose from. The smart #5 aims at this gap. Looking at the entire SUV market, pure electric rugged "square boxes," apart from the Baojun Yueye, the only other model that comes to mind that is more suitable for home use is probably the Chery iCAR 03. Now that the iCAR 03 can achieve monthly sales of around 4,000 units, for the smart #5, reaching monthly sales of 3,000 units would already double the sales of the entire smart brand, which may be an effective means for the brand to increase sales.

Equation Leopard 3: Not DMO but EV

Product Overview: The first model of Equation Leopard, the Leopard 5, demonstrated the strength of BYD's DMO Super Hybrid Off-Road Platform, with excellent performance in both off-road driving, ride comfort, and fuel economy for daily commuting. After the Leopard 5, another new model from Equation Leopard is about to debut, which is a compact SUV also adopting a rugged off-road style. However, unlike the Leopard 5, the Leopard 3 is a pure electric SUV and uses a dual-motor four-wheel-drive system, with maximum power of 110 kilowatts and 200 kilowatts for the front and rear motors, respectively, and a load-bearing body structure.

Market Analysis: As mentioned earlier, there are not many options in the pure electric rugged off-road market, and suddenly two products emerged: the smart #5 and the Equation Leopard 3. The Leopard 3's debut also comes with its own popularity halo and significant attention. With the foundation laid by the Leopard 5, the Leopard 3's product strength naturally cannot be underestimated. The new car continues the design style of the SUPER 3 concept car, and the overall shape is more compact compared to the Leopard 5, but the body lines are still very rugged, demonstrating the aura of a rugged SUV. As a pure electric SUV, the new car adopts a closed front face design and adds a large area of black trim, giving it a strong sense of fashion.

Review and Prediction: The Leopard 5 has been successfully launched, and the Leopard 8 has also appeared in previous MIIT directories. With the Leopard 3 gradually coming to the surface, Equation Leopard's "583" plan will officially take shape, further improving the product lineup and building the most powerful "dream team" of rugged off-road SUVs. Considering the Leopard 3's product configuration and size positioning, this model is expected to be more competitive in terms of pricing, so its performance in the market will not be a concern. For consumers who want to buy a pure electric SUV and prefer a rugged off-road style, the Leopard 3 may be a good choice.

Ledo L60: Can It Shoulder NIO's Ambition?

Product Overview: Ledo, a sub-brand of NIO, officially launched its first model, the L60, on May 15th, with a pre-sale price starting at 219,900 yuan. Two models have been declared this time, with the single-motor version having a maximum power of 240 kilowatts, paired with a Fudi lithium iron phosphate battery, and a curb weight of 1,885/1,900 kilograms. The dual-motor version has maximum power of 100 kilowatts and 240 kilowatts for the front and rear motors, respectively, also using a lithium iron phosphate battery provided by Fudi, with a curb weight of 1,955/1,970 kilograms. This shows that as a mid-size SUV, the Ledo L60 excels in quality control, which will also help with battery range performance.

Market Analysis: Ledo is NIO's first sub-brand and will assume more market responsibilities, contributing to NIO's overall sales growth. As the "eldest son" incubated by NIO, Ledo also enters the market with a battery swap model, and with NIO's early groundwork, Ledo's growth is bound to be faster. In terms of the scale of battery swap stations, Ledo supports both NIO's third-generation and fourth-generation battery swap stations, with over 1,000 stations serving it from the start. NIO will also build another 1,000 stations this year, which greatly reduces Ledo's anxiety about energy replenishment at its inception compared to NIO's early days. In addition, combined with NIO's BaaS plan, the purchase price of the Ledo L60 will further decrease, which will be the best plus point for Ledo.

Review and Prediction: As Ledo's first model, the L60 seems to be aligned with the Tesla Model Y in terms of size and positioning. Undoubtedly, the Tesla Model Y is an unavoidable option in the mid-size pure electric SUV market, as seen when the Xpeng G6 aimed to dethrone the Model Y when it first debuted. However, the Model Y sold 39,985 units in May, with significant increases in both year-on-year and month-on-month sales. It remains to be seen how the golden-key-born Ledo L60 will impact the Model Y, but sales expectations for this model seem to be relatively optimistic. If the BaaS plan is sufficiently attractive, sales of 8,000 to 10,000 units may not be out of the question, but achieving a bigger breakthrough may require more effort from NIO.

Xpeng M03: Success or Failure

Product Overview: According to the product information, the M03 has dimensions of 4780/1896/1445 millimeters and a wheelbase of 2,815 millimeters, which is a standard B-class car size. The M03 is the first model of Xpeng's MONA series, which stands for "Made Of New AI" and is a new product format jointly created by Xpeng and Didi. The M03 will not only target mass consumers but will also be supplied to the online car-hailing market. It is understood that for the channel construction of the MONA brand, it will initially be sold through Xpeng's stores, and later consider setting up exclusive MONA stores.

Market Analysis: This year is extremely crucial for the three new carmakers "NIO, Xpeng, and Li Auto." While Li Auto's MEGA encountered setbacks, putting the brand in a passive situation, NIO and Xpeng have successively released new brands and series, demonstrating their determination to "make a big splash." Shortly after the official launch of Ledo L60, Xpeng's first new model under its sub-brand, Xpeng also released official images of the M03, showing the development momentum of both companies. However, unlike the M03, which is the first model of the MONA series, it does not create a new brand but serves as a new series of Xpeng, reflecting the different plans of NIO and Xpeng as new carmakers.

Review and Prediction: According to the cooperation framework between Xpeng and Didi, the annual sales of the MONA series need to reach 100,000 units to continue. Therefore, the monthly sales of the M03 need to stabilize at around 8,000 units. Considering Didi's leading position in the travel market, such a sales target may not be difficult to achieve. To achieve higher sales, an attractive price may be the key. Currently, Xpeng has shown signs of fatigue in terms of sales growth, and MONA is clearly Xpeng's trump card. Xpeng needs a high-volume model to rejuvenate brand confidence. The M03 carries considerable pressure but also holds more market expectations. An important "counterattack" will soon begin.

BYD Song L DM-i: Another "Ace in the Hole"

Product Overview: Judging from the declaration images, the tail badges of this new model come in two versions: Song and Song L. However, compared to the Song Pro and Song PLUS, the new model has dimensions of 4780/1898/1670 millimeters and a wheelbase of 2,782 millimeters, making the name Song L more appropriate. In terms of appearance, the Song L DM-i's front face is similar to the Qin L DM-i's design, while the rear end continues the through-type taillight design of the Song L EV. In terms of power, the Song L DM-i will be equipped with BYD's fifth-generation DM hybrid system, which was first used on the Qin L DM-i and Haiqu 06 DM-i models and will deliver excellent performance in terms of fuel economy.

Market Analysis: More than half a month ago, the launch of the twin stars BYD Qin L DM-i and Haiqu 06 DM-i created a huge wave in the new energy sedan market, surprising many consumers with their actual test values in terms of both power consumption and comprehensive range. Now, with the debut of the Song L DM-i, it will also bring consumers new choices in the SUV market. After its launch, it will form a "big and small Song" combination with the BYD Dynasty Network's best-selling SUV, the Song Pro DM-i, to jointly attack the new energy SUV market, and it can also team up with the Tang DM-i to create another huge sensation in the B-class SUV market.

Review and Prediction: Judging from current sales figures, the Song Pro DM-i sold 22,130 units in May, while the Song PLUS DM-i sold 21,409 units. The combined sales of the Tang DM-i and DM-p models reached 11,250 units, all achieving excellent results. This shows that BYD is currently very popular in the new energy SUV market, and it is expected that the Song L DM-i will continue this development momentum, with monthly sales of 20,000 units likely to be easily achieved. Considering the prices already set by the Qin L DM-i and Haiqu 06 DM-i, the Song L DM-i is also expected to offer sufficient sincerity in pricing, which may lead the Song family to achieve new market breakthroughs and set new sales records.

Lynk & Co Z10: Taking Over the Baton from ZERO

Product Overview: As Lynk & Co's first pure electric model, the Lynk & Co Z10 has four versions declared this time, with dimensions of 5028/1966/1468 millimeters and a wheelbase of 3,005 millimeters. In terms of power, the single-motor high-power version uses a motor from Quzhou Jidian Electric Vehicle Technology Co., Ltd., with a power of 310 kilowatts, while the low-power version uses a motor from Weirui Electric Vehicle Technology (Ningbo) Co., Ltd., with a power of 200 kilowatts. The dual-motor version uses motors from Quzhou Jidian Electric Vehicle Technology Co., Ltd., with front and rear powers of 270/310 kilowatts, respectively.

Market Analysis: At the launch event in Gothenburg on June 12th, many detailed information about the Lynk & Co Z10 was announced, and its appearance in this issue's new vehicle list indicates that the car is closer to its official launch. After the Lynk & Co ZERO concept car evolved into the Zeekr 001, many people were concerned about Lynk & Co's development on the path to electrification. Now, with the official debut of the Lynk & Co Z10, it shows that Lynk & Co will begin to make efforts in the pure electric market and bring a new design language and technology roadmap. The Z10 is derived from the Lynk & Co The Next Day concept car, continuing the Lynk & Co brand's tone in portraying sporty attributes and interior design styles, which may be one of the favorite features of many young consumers.

Review and Prediction: The pure electric sedan market in the 200,000-300,000 yuan range is currently fiercely competitive, and the entry of Xiaomi SU7 has brought unprecedented pressure to this market segment. Various brands under Geely also have multiple models in this price range, including the Zeekr 007, Zeekr 001, and Geely Galaxy E8, which are all excellent products. How Lynk & Co Z10 can differentiate itself and gain more market attention is the biggest challenge Lynk & Co needs to face. In terms of sales, the refreshed Zeekr 001 has sold over 10,000 units for two consecutive months, and the Xiaomi SU7 has also performed well. For the latecomer Lyn