Shulou(Shulou.com)11/24 Report--

CTOnews.com, March 22 (Xinhua)-- Feng Wei, chief financial officer of Xilai CFO, recently spoke to Bloomberg about the company's delivery targets, break-even, price war and lithium price. Bong Wei said that Xilai was confident that it would meet this year's delivery target of doubling to 250000 vehicles by 2022 and break even at the group level next year. He also revealed that the company will launch new models, expand the energy network, and develop auxiliary driving technology.

CTOnews.com previously reported that revenue of 16.06 billion yuan in the fourth quarter of 2022, an increase of 62.2 percent over the same period last year, but the net loss also widened to 5.786 billion yuan. 122500 cars were delivered in the whole year, an increase of 34 per cent over the same period last year. For the first quarter of 2023, the company expects to deliver 31000-33000 vehicles, a year-on-year increase of 20.3-28.1%.

Li Bin, CEO of Xilai Automobile, previously put forward his 2023 goals at the earnings call, including doubling sales, building 1000 exchange power stations, opening more sinking markets, the NIO brand taking the lead in breaking even in the fourth quarter, and the company as a whole breaking even next year.

Feng Wei believes that "the rising penetration of electric vehicles will lead to a very profound round of integration in the industry." He also said that the recent price war in China's car market shows that there are too many car manufacturers in China. "it is almost a consensus that there are too many car manufacturers in China, but we have no plans to buy any car companies." In this regard, he stressed that for the existing model system, Weilai has been trying to maintain a stable price system, and for new models, Ulai "must keep up with the market."

Beng Wei also said that the recent fall in lithium prices will help to raise the level of gross profit in Xilai. "Lithium price fluctuations have a profound impact on the electric vehicle industry, and the recent drop in lithium prices will benefit the industry as a whole, especially high-end car companies using large battery packs," he said. "

Weilai shares rose 8.6 per cent in early trading on the 22nd and have risen about 18 per cent in the past two days. But its shares have plummeted more than 50% in Hong Kong and the United States in the past 12 months, according to Bloomberg. Its market capitalization reached nearly $100 billion at the beginning of 2021, almost twice as much as Ford Motor Company and down to less than 1/3 today.

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