Why did Ali help Xiaopeng to go public and meituan held up the ideal giant for “getting on the bus”?

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By Liu Miaomiao
Source: connect insight (ID: lxinsight)
After Weilai and ideal, Xiaopeng automobile becomes the next IPO “candidate” of new energy vehicles.
Just six days ago, ideal auto had just landed on Nasdaq, and its first trading day was up 43%. The IPO subscription process was also extremely hot, with the final offering price raised to $11.5 from a maximum of $10.
Compared with Weilai, which was listed two years ago, now seems to be the best time. After the cold winter of car making, the capital market is back to confidence. Not only is the market feedback of ideal car exceeding expectations, but also the stock price of Weilai has soared in the near future.
Tesla’s continuous profits and soaring market value can also be seen as a signal that new energy vehicles have defeated traditional car companies for the first time and have taken the first place in the era of old and new alternation.
Since the beginning of this year, Tesla’s share price has never stopped rising, surpassing Toyota in the market value and becoming the world’s highest car company.
Tesla has become a wind vane of the capital market and the epitome of the vast army of car makers. After many years of dormancy and low ebb, the turning point will finally come in 2020.
The signal from the capital market was soon sent to Xiaopeng automobile. On the second day after the ideal listing, news about the planned listing of Xiaopeng automobile began to spread. According to 36 krypton, it was learned from a number of investors who had contact with the project that Xiaopeng automobile had recently decided to go to the United States for listing, “as soon as August, no later than September.”.
P7 model of Xiaopeng automobile, picture source: Official Website of Xiaopeng automobile
However, for the listing rumors, Xiaopeng automobile did not give a response, but from the recent action of Xiaopeng, there are signs of paving the way for listing.
On August 3, in less than half a month after the $500 million financing of Xiaopeng Auto’s C + round, Xiaopeng obtained more than $300 million in financing. This financing was led by Alibaba group and invested by Qatar sovereign fund (Qia).
This is not the first time that Ali has invested in Xiaopeng automobile. Ali has participated in the financing of round a and round B of Xiaopeng automobile, but this is the first time that Alibaba has participated in the investment as a leading investor. According to 36 krypton report, a source said that this round of 300 million US dollars financing of Xiaopeng is almost oriented to aribaba, and other investors only participate in a small amount.
Bat and other companies have already bet on different new car companies. Meituan, byte jump investment ideal car, Tencent is the second largest shareholder of Weilai, and Baidu continues to bet on Weima. So far, several Internet giants have a layout in the field of new car manufacturing.
And the new force of car making can not go public without the help of giants. Just like meituan, before the ideal listing, gave a push and led the investment of US $500 million a month before the listing. In the process of accelerating the IPO of Xiaopeng, Ali’s approach is the same, pushing Xiaopeng forward.
Giants scramble to get on the bus, and new energy vehicles have become a new battlefield filled with gunpowder.
One
Accelerate IPO
He Xiaopeng is an extremely sensitive person to time.
Go to work at 7 o’clock and go to bed at 12 o’clock every day. The time habit in life is accurate to “minutes”. The CEO, known as one of the best product managers in the era of mobile Internet, once built UC. In August 2017, he left Alibaba and officially joined Xiaopeng automobile.
In fact, his every step also stepped on the right time node.
He Xiaopeng was born in Huangshi, Hubei Province in 1977. At the age of 27, he founded UC Youshi company with Liang Jie and Yu Yongfu. At that time, there were few domestic mobile phone software companies. In the initial stage of mobile Internet, UC occupied the first opportunity, covered the mainstream platform, and realized server-side compression of web pages.
On the 10th anniversary of the founding of UC, it was favored by Alibaba and sold to Alibaba for about US $4 billion, setting the highest record of Internet M & A integration in China at that time. He Xiaopeng also served as president of Alibaba mobile business group, chairman of Alibaba games and President of Tudou.
But in his heart, he is still eager to start his own business.
In 2017, he Xiaopeng resigned from Ali. In August, he announced that he would officially join Xiaopeng automobile, which he had invested in before, and became the chairman of the board. Besides he Xiaopeng, angel investors of Xiaopeng automobile include YY founder Li Xueling, cheetah mobile CEO Fu Sheng, Jingwei venture capital founder Zhang Ying and 58 Group CEO Yao Jinbo.
Entering this industry, his judgment is that smart cars will bring about an epoch-making change. “Like the transformation from functional mobile phones to smart phones, cars need stronger computing, network and interaction capabilities. It is no longer just a car, it will also be an intelligent carrier of information, which can shorten the distance between you and the world.”
At the end of 2018, the first mass production car G3 of Xiaopeng automobile was officially delivered. This car embodies the basic content of he Xiaopeng’s vision, and is built around AI capability, automatic driving assistance, remote management and operating system.
G3, the first mass production model of Xiaopeng automobile, is shown on the official website of Xiaopeng automobile
However, for this new energy vehicle enterprise established in 2014, it seems a bit long to deliver the first mass production vehicle in more than four years. After all, Weilai automobile, which was established in the same year, has been listed on the New York Stock Exchange at this time, and the second production model ES6 has been listed. As early as December 2017, the first volume production vehicle NiO es8 of Weilai has been listed.
Xiaopeng, once a step slower, is now accelerating.
In April this year, Xiaopeng automobile launched the second mass production model of Xiaopeng P7, which is positioned as a pure electric car running car. The NEDC has a range of 552km-706km, and the price range is 229900-349900 yuan.
This conference also changed the style of the past, directly benchmarked Tesla, and was full of “gunpowder”. Besides the model, the friction between the two sides was also escalating.
Two days before the launch of P7, Xiaopeng automobile issued a statement saying that after Tesla sued Cao Guangzhi, an employee who transferred to Xiaopeng, Tesla now requires Xiaopeng to publish all automatic driving source codes, which is “unreasonable complaint”, and considers it “obvious bullying behavior” of Tesla against a young competitor.

Xiaopeng automobile’s statement, picture source: Official micro of Xiaopeng automobile
With Tesla launching a general attack on the Chinese market, the sales volume of model 3 has reached new highs, which has increased pressure on the new domestic car making forces. He Xiaopeng also forwarded an article on his social platform called “the decisive moment of Xiaopeng automobile”. Xu Jihan, vice president of Xiaopeng automobile, once said that “when making P7, the best match is model 3”.
In May this year, the Zhaoqing intelligent factory of Xiaopeng automobile was granted the production qualification, and officially began to enter the era of self-made cars. In July this year, the full delivery of Xiaopeng P7 was officially started. According to the current delivery data, the monthly delivery volume of Xiaopeng P7 is 1641.
Almost every month there are new moves. In July, Xiaopeng automobile just announced the signing of the C + round financing agreement. The main investors are ASPEX, coatue, Hillhead capital and Sequoia China, with an investment of nearly US $500 million.
Two weeks later, Xiaopeng automobile obtained a new round of financing of $300 million from Alibaba. At the same time, the IPO process is also speeding up, or these new actions are actually preparing for listing.
For new energy vehicle enterprises, at present, including Xiaopeng, Weilai, Weima and ideality, they need a lot of funds to continue to develop. It has been a long time since it was founded, but the profits are far away. The patience of investors and the limited funds make it a good way to obtain funds.
Cao he, President of quanlian auto Investment Management (Beijing) Co., Ltd., said in an interview with future auto daily, “it is impossible for foreign markets to accommodate more than five new car manufacturing enterprises. Who goes public first will live first. ”
This is also the reason why new energy vehicle companies have been listed in the market recently.
Two
Why do Internet giants love to build cars?
Internet companies have been committed to car making since 2014.
This year was even called the first year of car making. Weilai and Xiaopeng were founded, and Jia Yueting began to build cars for his dream. Then in 2015, Li Xiang founded chehejia, and Shen Hui, former chairman of Volvo China, founded Weima automobile. Dozens of new forces of car making emerged in this period, and even the household appliance giant Gree began to join the car making camp.
It’s not that this industry is easy to get started. It is not only more difficult, but also requires a larger pool of funds and endurance. Unlike the Internet, it can see results quickly. From R & D to mass production is a threshold, and profitability is more distant.
Before he decided to join the field of car making, he had a deep talk with his hometown Lei Jun. Lei Jun’s judgment was that it would take at least five years to “work out”, which was 100 times more difficult than starting a business on the Internet.
However, they are committed to this industry without hesitation. In their view, the more places need to change, the more opportunities there are. The reform of the automobile industry is the same as that of the mobile phone industry. In the future, the car will not only be a vehicle, just as the mobile phone is not only used for talking.
He Xiaopeng mentioned in an interview with we media animal building that “today, intelligent electric vehicles are equivalent to 2008 of UC. I think that as long as people who start a business at this stage of time do not make big mistakes, as long as they have a bit of luck and a little higher executive power, they may have one to several of the N enterprises. ”
In their view, car making may be a major change that will affect people’s lives in the next decade or so, and the moment is to seize the opportunity. “I think it’s the times that create the heroes, not the heroes who create the times.” In he Xiaopeng’s opinion, opportunity and luck often result in the birth of giants.
The Internet giants who have mastered the capital have also begun to invest in enterprises in the field of new car making. Although they are not willing to follow up an industry personally, they are worried that they will miss any investment outlet. From the perspective of the history of entrepreneurship in recent years, it is also the case, such as thousand regiment wars, unmanned shelves, bike sharing, community group buying Behind the founders of each company, there is a corresponding big man behind the scenes.
Because for them, once the bet is successful, it will not only add weight to their own ecological layout, but also show their cards when facing competitors at the same level.
In the early days, Xia Heng, head of the control section of GAC new energy center, visited he Xiaopeng for the first time at UC headquarters. Under the introduction of he Xiaopeng, Xia Heng also gradually got to know Li Xueling, Fu Sheng, etc., and later they became investors of Xiaopeng.
In December 2017, Ali invested in Xiaopeng automobile, becoming another giant in the field of new car manufacturing after Tencent’s investment in Weilai and Baidu’s investment in Weima. So far, bat’s new car building camp has stood in a good position.
“In fact, I didn’t expect Ali to invest in Xiaopeng.” This is how he Xiaopeng felt when Ali first invested in Xiaopeng automobile. He reviewed the process of getting Ali’s investment more than a month before he left. He had planned to spend an hour talking about the past and the future, and to say goodbye to Ali CEO Zhang Yong and other senior executives. Unexpectedly, Zhang Yong was very interested in new energy vehicles and talked with he Xiaopeng for an extra hour. Later, the story was that Ali participated in the two rounds of financing of Xiaopeng automobile.
With the development of new energy vehicles in recent years, capital has also begun to enter and occupy a certain voice in the industry. At present, there is a “backing” behind these new forces, and the “backing” camp is growing. It is not surprising that there are dozens of star investment institutions behind a company.
Tencent has become the second largest shareholder of Weilai, and meituan Wangxing’s increase before the ideal listing also makes it the second largest shareholder of ideal automobile, and Baidu has repeatedly injected capital into Weima.
After this round of financing of Xiaopeng automobile, Ali also completed the increase in the field of new energy vehicles.
Three
New battleground for giants
For the new car manufacturing enterprises, the war between them has not really started.
Not long ago, he Xiaopeng once posted a photo with Li Bin and Li Xiang on his micro blog. The founders of these three representative enterprises got together and wrote an article “three hard forces, thinking hard to change…”
He Xiaopeng, Li Bin and Li Xiang take a group photo. Picture source: he Xiaopeng’s microblog

In the same period of burning money and operating at a loss, facing the same confusion and bottleneck, group heating has established the current state, and even in the new car manufacturing enterprises, there is no lack of mutual cooperation in the past. In the difficult period of the industry, although they are competitors, the traditional automobile is their common enemy.
The highlight of the internet war also lies in this. It seems that the founders of several companies are fighting, but the giants behind the scenes have their own considerations.
For giants, car making has become a new battlefield for them to lay out their own ecology and carry more offline scenes.
Taking Dong Mingzhu as an example, Dong Mingzhu once mentioned that by investing in Yinlong, Gree can “bridge” to expand Gree industry
On the one hand, Gree entered the automotive mold market, and many automobile enterprises began to seek Gree’s help in mold opening; on the other hand, Gree’s drive motor is an important part used in automobiles. Through the cooperation with Yinlong, the drive motor can be formally used in automobile assembly; in addition, through Yinlong, Gree can get involved in the automobile air conditioning industry which has failed many times before and become an important supplier of automobile air conditioning in China.
Lei Jun’s investment in Xiaomi is also a consideration of the current situation of Xiaomi. Xiaomi starts to make money on the content ecology by making efforts at the IOT end. Whether it is IOT or the aiot advocated by Xiaomi, the car, as a mobile home and mobile terminal, is one of the important scenes.
He Xiaopeng and Lei Jun, tuyuan network
So Xiaomi investment not only invested in Weilai automobile, but also invested in Xiaopeng.
In November last year, Xiaopeng automobile completed round C financing, obtained 400 million US dollars financing from Xiaomi group and he Xiaopeng, successfully introduced the new strategic investment partner Xiaomi group, and cooperated with Xiaomi group in the interconnection of smart phones and smart cars.
Lei Jun is making a greater layout for Xiaomi’s future ecology, and consolidates its advantages in the hardware side by opening up aiot ecology at the automobile end.
For the giants with capital, they will not be willing to bet on only one enterprise. In addition to investing in Xiaopeng automobile, Ali also cooperated with SAIC in Internet vehicles, joined the construction of zebra system and Roewe X5, and gained a certain sales volume.
Competing for scenarios and the Internet of things operating system is the next focus of the giants in this new battlefield. But at present, in the complex investment relationship, the car manufacturing enterprises and the big men behind the scenes are still waiting for a trigger.
The surviving new forces of car making began to seek listing in succession. On July 26, according to a report from the news agency, Weima automobile is cooperating with financial companies, planning to land on the scientific and technological innovation board as soon as this year, and is seeking an offering price of 30 billion yuan in listing value, according to a person familiar with the matter
At present, domestic new energy vehicle enterprises are far from the stage of life and death, but listing is not the end, but indicates the beginning of a new round of war.
(statement: This article only represents the author’s point of view, not Sina’s position.)