In the elimination phase of new energy vehicles, how can one survive? Leapmotor broke out of a sea of red competition and led far ahead. What does it rely on? Let's look at Leapmotor's "assets",The answer is actually just four words: Self-Research and Self-Manufacturing.

Leapmotor's half-year report is out -- revenue 38.11 billion reached a new high for the same period, net profit 210 million for three consecutive half-years, H1 global sales 356,000 units made it into the global new energy top four (BYD, Tesla, Geely, Leapmotor), and July became the first new force to exceed 100,000 deliveries in a single month.

Some believe that in today's highly mature supply chain, car companies don't need to manufacture everything themselves.

But the reality is that batteries, motors, and electronic controls account for over 50% of the total vehicle cost. If these lifelines are held by suppliers, car companies are left with only design space for the body and seats, essentially regressing into assembly plants. When the price war intensifies, car companies without self-research barriers won't even have the room to lower prices without considering suppliers' moods.

Among new forces, Leapmotor is not the only one that can achieve full-stack self-research, and all have achieved good results; Zeekr, Fangchengbao and other "factory second generations", supported by the R&D and manufacturing foundation of parent companies, start off just as fast.

The new energy track seems to compete on sales volume and visibility, but it is actually a contest of industry chain control. Those brands that are unwilling to put in the hard work in core links such as intelligent driving, intelligent cockpit, and three-electric systems, overly rely on external procurement, and only understand "opportunism", will find it increasingly difficult in the elimination round.

Leapmotor's differentiation lies in it having truly made "self-research" a systematic cost control method. Zhu Jiangming explicitly stated in the internal letter for the 10th anniversary that Leapmotor's vehicle self-research and self-manufacturing ratio covers 65% of core component costs, with a final goal of over 80%.

Self-research and self-manufacturing is Leapmotor's solid foundation for "quality not expensive", not just a slogan. This is mainly reflected in several specific actions:

First is the platform integration of core components such as batteries and electric drives.

The three-electric systems, especially power batteries, account for a large portion of the total vehicle cost, so seeking profits from upstream is a required course for car companies. Leapmotor's approach is to accelerate full-stack self-research from cells to PACK; At the same time, for solutions like 800V silicon carbide high voltage, because the battery packs and core components like electric drives achieved self-research and platform unity, it was possible to "overnight" switch the entire C series and B series.

Without the foundation of self-research and self-manufacturing, this speed would be impossible.

Second is converting self-research advantages directly into price and configuration competitiveness.

For example, B01 and B10, bringing global 800V and 3C fast charging, AR-HUD configurations that were previously only available in the 200,000 yuan class directly to the 100,000 yuan class, relies on mass production of self-researched components reducing BOM costs.

A10 brought LiDAR and advanced intelligent driving into the 100,000 yuan range for the first time, with monthly sales near 30,000 units. It expands the path of scale efficiency together with the newly launched A05 starting at 63,900.

Against the backdrop of generally pressured industry vehicle profit margins,Leapmotor was still able to maintain a 12.6% gross margin, where vertical integration played a decisive role.

Zhu Jiangming summarized this model as "transferring 10% gross margin from the parts link to users, while the whole vehicle still maintains a healthy 14%-15% gross margin" -- core components held in one's own hands provide the confidence to offer concessions.

Third, this ability has begun to be exported externally.

On August 24, Leapmotor Automobile held a deepening strategic cooperation agreement signing ceremony with China FAW in Changchun. Both sides will carry out deep collaboration in fields such as new energy whole vehicles, intelligent assisted driving, powertrain, power batteries, intelligent chassis, and embodied intelligent robots.

In addition, overseas is also an important link. Leapmotor's H1 export volume reached 96,000 units, up 372.6% year-on-year, Europe has already deployed over 1,000 outlets. Leapmotor is leveraging Stellantis's overseas capacity to promote localization assembly and mass production in places like Malaysia, Spain, and Brazil.

Crossing over from an OEM to become a Tier 1 is itself an endorsement of technical strength.

Of course, self-research is not omnipotent, and Leapmotor is also reviewing and improving its weaknesses. Regarding intelligent driving, although urban pilot assistance has been pushed to the entire series, there is still a gap compared to Huawei and XPeng's first-tier level.

This September's Annual Technology Conference, Leapmotor will release intelligent assisted drivingWorld Models that reach the industry's first-tier level, finally making up for this required course.

It will also releasea series of the latest technical achievements in the three-electric fieldto prepare for the next stage of advancement.

It is worth mentioning that Leapmotor's flagship SUV D19 sales in July also exceeded 10,000 units. Leapmotor, through the platformization of the ABCD series and a high proportion of self-research and self-manufacturing, has provided a development model for new energy car companies: players who can make self-research and self-manufacturing a moat have a higher chance of surviving in the elimination round.

Fasa penghapusan kenderaan tenaga baharu, bagaimana cara untuk bertahan hidup? Leapmotor menembusi keluar dari lautan merah dan memimpin jauh, bergantung pada apa? Lihat "aset" Leapmotor,jawapannya sebenarnya hanya empat perkataan: penyelidikan dan pembuatan sendiri.

Laporan setengah tahun Leapmotor keluar — pendapatan 38.11 bilion mencapai rekod tertinggi tempoh sama, keuntungan bersih 2.1 bilion keuntungan berterusan tiga semester, jualan global setengah tahun pertama 356,000 unit masuk ke empat teratas global tenaga baharu (BYD, Tesla, Geely, Leapmotor), Julai malah menjadi pengeluar baharu pertama yang menghantar lebih 100,000 unit sebulan.

Ada orang berpendapat dalam hari ini di mana rantai bekalan matang tinggi, pengeluar kereta tidak perlu membinan segalanya sendiri.

Tetapi realitinya, bateri, motor, kawalan elektrik mengambil lebih 50% kos kereta keseluruhan, jika nadi ini semua dipegang oleh pembekal, pengeluar kereta hanya tinggal ruang reka bentuk badan dan kerusi, secara asasnya merosot menjadi kilang pemasangan. Apabila perang harga sangat sengit, pengeluar kereta tanpa halangan penyelidikan sendiri walaupun ruang menurunkan harga perlu lihat muka pembekal.

Dalam pengeluar baharu, bukan sahaja Leapmotor yang mampu melakukan penyelidikan lengkap sendiri, semua juga mencapai prestasi bagus; Zeekr, Fang Cheng Bao jenis "generasi kedua kilang", mempunyai sokongan asas penyelidikan dan pembuatan ibu syarikat, permulaan juga sama laju.

Laluan tenaga baharu nampaknya bersaing berdasarkan jualan dan suara, sebenarnya adalah pertarungan kuasa kawalan rantaian industri. Mereka yang tidak rela melakukan kerja keras di elemen penting pemanduan pintar, kabin pintar, tiga sistem elektrik, terlalu bergantung kepada pembelian luar, hanya faham "gaya ambil sahaja", dalam penghapusan akan semakin susah.

Perbezaan Leapmotor terletak pada, ia benar-benar menjadikan "penyelidikan sendiri" sebagai kaedah kawalan kos sistematik. Zhu Jiangming dalam surat dalaman ulang tahun ke-10 dengan jelas berkata, nisbah penyelidikan dan pembuatan sendiri kereta keseluruhan Leapmotor menutup 65% kos komponen teras, sasaran akhir lebih 80%.

Penyelidikan dan pembuatan sendiri adalah asas kukuh "baik tetapi tidak mahal" Leapmotor, bukan satu slogan. Terutamanya ditunjukkan dalam beberapa tindakan spesifik:

Pertama adalah integrasi berasaskan platform komponen teras seperti bateri, pemacu elektrik.

Tiga sistem elektrik khususnya bateri kuasa mengambil majoriti kos kereta keseluruhan, jadi meminta keuntungan ke hulu adalah kursus wajib pengeluar kereta. Cara Leapmotor mempercepatkan penyelidikan lengkap dari sel bateri ke PACK; sementara itu seperti skema voltan tinggi karbida silikon 800V, kerana pakej bateri dan pemacu elektrik komponen teras penyelidikan sendiri mencapai penyatuan platform, hanya boleh "selepas malam" mengubah keseluruhan siri C dan siri B.

Tanpa asas penyelidikan dan pembuatan sendiri, kelajuan sedemikian tidak boleh dilakukan.

Kedua adalah menukarkan kelebihan penyelidikan sendiri terus menjadi daya saing harga dan konfigurasi.

Misalnya B01 dan B10, membawa konfigurasi 800V global dan pengecasan pantas 3C, AR-HUD yang hanya ada di kategori 200,000 masa lalu terus ke kategori 100,000, bergantung pada pengeluaran berskala komponen penyelidikan sendiri menurunkan kos BOM.

A10 untuk pertama kali membawa LiDAR dan pemanduan pintar peringkat tinggi dalam 100,000 yuan, jualan bulanan hampir 30,000 unit. Bersama dengan A05 yang baru dilancarkan bermula 63,900, mengukuh jalan keuntungan skala.

Dalam masa kini di mana margin keuntungan kereta keseluruhan industri secara umum tertekan,Leapmotor masih boleh mengekalkan 12.6% margin kasar, pengintegrasian menegak memainkan peranan menentukan.

Zhu Jiangming merumuskan model ini sebagai "memberi pengguna 10% margin kasar komponen, kereta keseluruhan masih boleh kekalkan 14%-15% margin kasar sihat" — komponen teras dipegang sendiri, baru ada keyakinan untuk memberi diskaun.

Ketiga adalah kemampuan ini sudah mula dieksport ke luar.

Pada 24 Ogos, Leapmotor dan FAW China memegang majlis penandatanganan perjanjian kerjasama strategik yang diperdalam di Changchun. Kedua-dua pihak akan melaksanakan pengkoordinasian mendalam di sekitar kereta tenaga baharu keseluruhan, pemanduan pintar bantuan, enjin kuasa, bateri kuasa, chasis pintar, robot pintar berjasad dan lain-lain.

Selain itu, luar negara juga satu elemen penting. Eksport setengah tahun pertama Leapmotor mencapai 96,000 unit, peningkatan bersemuka 372.6%, Eropah sudah menyusun lebih 1,000 outlet. Leapmotor sedang借助 keupayaan pengeluaran luar negara Stellantis, di Malaysia, Sepanyol, Brazil dan lain-lain tempat memajukan pemasangan dan pengeluaran tempatan.

Dari pengeluar kereta keseluruhan melangkaui sektor melakukan Tier 1, ini sendiri adalah sokongan kepada kekuatan teknologi sendiri.

Sudah tentu, penyelidikan sendiri bukan segalanya, Leapmotor juga sedang menilai dan memperbaiki kelemahan sendiri. Dalam aspek pemanduan pintar, walaupun pemanduan bantu wilayah bandar sudah dihantar keseluruhan siri, tetapi berbanding peringkat pertama Huawei, XPeng masih ada jurang.

Perhimpunan teknologi tahunan bulan September tahun ini, Leapmotor akan发布 tahap pertama industri keseluruhan pemanduan pintar bantuanModel Dunia, akhirnya membasuh kursus wajib ini.

Selain itu juga akan发布bidang tiga sistem elektriksiri hasil teknologi terkini, untuk menyediakan untuk peringkat seterusnya.

Patut disebut adalah jualan Leapmotor SUV D19 di bulan Julai juga melebihi 10,000 unit. Leapmotor melalui platformisasi siri ABCD, dengan nisbah tinggi penyelidikan dan pembuatan sendiri, memberi kerangka pembangunan kepada pengeluar kereta tenaga baharu:

Penyelidikan dan pembuatan sendiri boleh dijadikan parit pertahanan, dalam penghapusan kemungkinan tinggal lebih besar.