Description of the event
Ideal L6 was officially launched.
Incident comments
The ideal L6 is priced at 249,800, and delivery is expected to begin next week. In terms of price, the Pro version sells for 249,800 yuan, the Max version costs 279,800 yuan, and offers a 20,000 yuan privilege discount for orders placed before May 5, which is highly competitive compared to competitors at the same level. In terms of size, the ideal L6 is 4925/1960/1735mm in length, width and height, respectively, and the wheelbase is 2920mm, which has a certain advantage over competitive space. In terms of battery life, the ideal L6 WLTC has a pure electric battery life of 182 km, with a comprehensive fuel consumption of 0.72 L/100 km, which is lower than that of competitive products. In terms of other configurations, the Ideal L6 comes standard with a Qualcomm Snapdragon 8295P chip and CDC sports suspension. The seats are covered with Nappa leather, the front and rear seats are equipped with standard ventilation and heating, and the main and front passenger seats are equipped with standard massage functions. At the same time, the Max version comes standard with a smart cooling and heating dual-use refrigerator with a compressor, and the cabin configuration is still very rich. Mass production and delivery capabilities continue to excel. Test drives and exhibition vehicles have arrived at all ideal automobile retail centers. Ideal L6 is expected to begin small-batch delivery next week, and mass delivery will begin in May, so that delivery can be achieved as soon as it is launched. At present, Ideal Plan's 4 extended-range models have all been launched, covering a wide range of 25-450,000 price ranges. According to China Automobile Association statistics, the wholesale sales volume of new energy passenger vehicles of 25-300,000 and 300,000 or more in 2023 was 1.27 million and 1.31 million units, respectively. It is expected that the launch of the Ideal L6 will open up a broad sales space.
The “Dual Energy Strategy” was officially launched. The electric platform complements energy types, and intelligent technology enhances the user experience. 1) Electricity: On March 1, Ideal 5C supercharging piles were officially put into use. All pure electric models launched this year will be equipped with 5C high voltage charging as standard. As of March 31, 2024, 357 ideal supercharging stations have been put into use, with 1,544 charging stations. Looking forward to the future, Ideal plans to invest 6 billion yuan. By the end of 2024, it plans to build a total of 2,000 overcharging stations, and plans to build more than 5,000 overcharging stations in the future. 2) Intelligence: Intelligent driving in urban areas will soon be opened to the whole country, and the OTA 5.2 version will be released in the first half of this year to upgrade various functions of full-scene intelligent driving, full-scene assisted driving, intelligent parking, and active safety.
Ideally, the current matrix layout of extended-range models has been completed, plans for subsequent models are clear, direct sales channels continue to expand, and there is broad scope for future sales. Currently, all 4 extended-range SUVs have been launched on the extended-range platform, and there is 1 pure electric MPV. The ideal future model will be equipped with an electric four-wheel drive as standard. By the end of 2024, a product layout of “4 extended-range electric models+4 high-voltage pure electric models” will be formed. The product matrix covers more than 200,000 markets to meet a wider range of consumer needs. At the same time, the ideal channel structure continues to be optimized, and the number continues to increase. By the end of March 2024, Ideal Auto had 474 retail centers across the country, covering 142 cities, a decrease of 1 compared to the end of last month; 356 after-sales maintenance centers and authorized sheet spray centers, covering 209 cities, an increase of 1 compared to the end of last month. Looking ahead to this year, the ideal sales and service network will continue to be upgraded. It is planned to increase the number of retail centers to 800 by the end of this year, and the number of after-sales service centers and authorized sheet spray centers is expected to exceed 500.
As the pioneer of the household SUV concept, Ideal Auto's product advantages and brand design are deeply rooted in the hearts of the people, and the “Dual Energy Strategy” is expected to further expand the advantages of Ideal Auto. Subsequent Ideal L6 and subsequent pure electric models will be launched one after another, further improving the ideal product matrix and increasing the ideal overall sales space. The combined scale effect of high bike sales prices is expected to maintain a good profit level. The ideal sales volume is expected to reach 60,000 units (neutral) in 2024, maintaining a “buy” rating.
Risk warning
1. The global economic recovery was weaker than expected;
2. Increased competition in the industry weakens corporate profits.