New energy small car, "outer volume" Southeast Asia

Author | Hengzhi

Edit | Tang Fei

The electric vehicle market in Southeast Asia has become a hot "wind" in the first half of the year.

Sino -Japanese South Korea and Southeast Asian car companies have overturned and detained Bao on this hot land to be developed. For example, the Great Wall Euler Cat, which was facing a crisis of production in China, has quietly went to Southeast Asia. Since the second half of last year, Euler Cat has been sold in the Southeast Asian market. The first stop chose Thailand with a policy advantage first. According to IT House reports, in October last year, Euler's good cats have started pre -sale in Thailand, and pre -sale orders have exceeded 6,000 in 48 hours.

After experiencing the "chip reduction" storm, Euler, who has recently pushed the high -end electric vehicle "ballet cat", can bring a small car with a basic configuration of a small car in the Southeast Asian market to complete a "flowers outside the wall"?

In addition to Great Wall Motors, what are the Chinese car companies that focus on the Southeast Asian electric vehicle market? With Lin Li's strong opponent, how can Japanese and Korean car companies and local new energy car companies in Southeast Asia deal with?

Picture source: Great Wall Motor (GWM) Malaysia official website

Good cat fascinated Thai girl, Euler Baobao Southeast Asia

In July this year, Great Wall Motors had two major actions in China and overseas:

In the domestic market, Euler boss Dong Yudong announced on his personal Weibo official to announce the "Euler Ballet Cat". This "car that loves women" was listed on July 12. However, the "ballet cat" is obviously more expensive, even if the price of the minimum configuration version of the car has risen to 193,000 yuan.

In the Southeast Asian market, Great Wall Motors took the "Euler Cat" into Malaysia and opened a new Malaysian subsidiary on July 5, claiming that it would "help the development of new energy vehicles in Malaysia." Zhang Jiaming, president of the Great Wall Motor ASEAN Regional, also said that this time Great Wall Motor's overseas is hoping to "continue ASEAN new energy focusing strategy and adhere to new energy, new intelligence, and new experience."

On the official website of the Great Wall (GWM) that just set up, the three hot -selling models of "Euler, Haval, and Tank" were released. In particular, Euler was given a "plan to launch several hot -selling models characterized by retro futurism and classic design to Malaysia" to go out to sea.

Similarly, on the homepage of the Great Wall Motor Thailand's official website, it is also a huge poster for Euler Cats. It can be seen that Euler's good cat series is also one of the main models of Great Wall Motor's entry into Southeast Asia. In order to meet the needs of new energy vehicles that Thai girls just started, Great Wall Euler also reduced the price several times and reduced the price to about 800,000 baht (about 140,000 yuan).

Picture source: Great Wall Motor (GWM) Thailand official website

The Great Wall, which was once known as the "domestic car", has moved a lot in overseas markets in the past two years, and has layout in Southeast Asia, Russia, and Brazil. The Great Wall began the layout of transferring to the Thai production line. As early as 2020, the Great Wall acquired the manufacturing factory of Thailand, which was originally a general car, intended to radiate four Southeast Asian countries: Malaysia, Vietnam, the Philippines, and Singapore.

The outside world will be called it, first exploring the road in Thailand, and then "Go with Malaysia (walking with Malaysia)".

There are three reasons for this. First of all, Thailand and Malaysia are two developed countries in Southeast Asia. The total output value can account for more than 90%of the total output value of ASEAN countries. According to data from the ASEAN Motor Federation (AAF) 2021, Thailand, Indonesia and Malaysia are the three major automobile countries in Southeast Asia. The total output of the three accounts for nearly 93%of ASEAN.

Secondly, the automobile industry of these two countries is relatively developed, especially for new energy promotion. According to Bangkok Post, Thailand has reduced the tax rate of pure electric vehicles from 8%to 2%in June this June. Each pure tram has another 150,000 baht (about 27,000 yuan) of car purchase subsidies.

In addition, the Great Wall that has just been reported in the Indian market is not smooth, and the news of being forced to suspend the acquisition and transaction of the Tarigan factory after multiple extensions. At this time The next city "is even more important for Great Wall Motors to go to sea.

Picture source: Great Wall official website

Local VS outsider, new car forces melee warfare

The competition in the pure electric vehicle market in Southeast Asia has just begun.

According to data from the ASEAN Automobile Federation (AAF), the total sales of automobiles in Southeast Asia in 2021 reached 2.79 million units, an increase of 14%year -on -year. It is estimated that by 2035, the sales of electric vehicles in Southeast Asia will completely exceed fuel vehicles, which means that the sales of new energy vehicles in Southeast Asia will increase significantly in the next few years.

In recent years, Southeast Asian countries such as Thailand, Vietnam, Malaysia, Indonesia, and the Philippines have introduced various preferential policies in order to promote the development of domestic new energy, such as launching car purchase subsidies, spreading public transportation clean energy, and building more charging piles. Network and so on.

Typical Thai government has introduced a large -scale pure electric vehicle subsidy policy and reduced goods tax; the Indonesian government tries to use its own non -ferrous metal resources to invest in battery production. 20%of the goal; the Philippines is also vigorously purchasing electric buses, and has issued regulations that require domestic public transportation companies to increase the proportion of their own pure tram to more than 5%.

With the global popularity of clean energy, and the two major trends of the manufacturing industry chain to Southeast Asia, new energy vehicle companies in various countries have become inevitable in Southeast Asia. In addition to Great Wall Motors, another Chinese car company in Southeast Asia's pure electric vehicle market has a high market share in SAIC.

On June 1, SAIC released a new model of small pure electric vehicles in Indonesia, and it was planned to start production in the local area during the plan. It also signed an agreement to invest in the production of MG with the Thai Consortium. In order to seize the pure tram market, all the four pure electric models in Thailand have been reduced in the recent price reduction in Thailand. Among them, the "MG (MG) EP" has reduced the price to 760,000 baht (about 144,000 yuan).

Nezha, which belongs to the new forces of the car, signed a strategic cooperation framework agreement with Thailand National Petroleum Co., Ltd. in November last year, with new models at the ASEAN and Thai auto show. At the Nezha Media Communication Meeting in March this year, Zhang Honghan, the director of public relations, said that the two major goals of Nezha Automobile in 2022 were "entering the city" and "going out of the sea", and the main direction of "going to the sea" was "going south south Southeast Asia, then the west of the West, and the west Entering Europe. "

Picture source: Nezha CEO Zhang Yong Weibo

Japanese and Korean car companies, which have a higher share in Southeast Asia, are also pushing pure electric vehicles. According to Reuters, the Southeast Asian battery joint venture in Hyundai Motor and LG Energy Solution began in the fourth quarter of last year. At present, the pure tram work in Indonesia has begun mass production.

In addition to the "foreign households", the new car forces in Southeast Asia are also "soaring", and VINFAST is a typical example.

Pham Nhat Vuong, the largest real estate agent in Vietnam, established the Vietnamese autonomous car brand VINFAST under its real estate group Vingroup. The company has a factory with an area of ​​335 hectares in Haifang City, Vietnam, and has achieved automobile production. Its main suppliers include ABB, Bosch, Magnas, Siemens, and so on.

VINFAST's main new energy model is a smart electric SUV. Although it is said that the battery life and intelligence are far less than that of Tesla, it is even difficult for the first echelon of the newly -made new forces in China. However, due to the support of Vietnamese officials and strong procurement of local brands, VINFAST still has a lot of competitiveness in Electric SUVs in Southeast Asia.

Grab the beach hot soil, change the direction of "outer roll"

The "outer volume" of domestic new energy vehicles in sea seems to have shown the trend of "the first echelon to Northern Europe, the second echelon to Southeast Asia".

In the past, domestic new energy vehicle companies always set up Europe, especially the Nordic countries as their first stops: Weilai, Xiaopeng, and BYD have used the Norwegian market as a must -have for going abroad.

On the one hand, the coverage rate of Nordic home electric vehicles is extremely high. Norway encourages new energy vehicles. The charging supporting network is also sufficient. As a result, more than 65%of the local new vehicles are electric vehicles. Therefore, the new energy vehicle brand is more smooth to integrate into the local market. On the other hand, Nordic residents' income and benefits are quite considerable. The more popular electric SUVs are more popular among locals, so that they can install the equipment for ski camping.

Southeast Asian consumers' demand for electric vehicles is very different from the Northern Europe.

At this stage, the coverage rate of national electric vehicles in Southeast Asia is not high, and most of the roads running on the road are Japanese fuel vehicles. Compared with European countries, Southeast Asian electric vehicle supporting facilities are very lacking, and the construction of the charging station network is still in its infancy. Taking Thailand as an example, according to the Bangkok Post, as of the end of last year, only about 1,000 charging stations across the country at the end of last year, this seems to have inadvertently purchased consumers who buy electric vehicles "out of the door."

In addition, the income level of Southeast Asian residents cannot be compared with Europe. According to data from the National Bureau of Statistics of Vietnam, the average monthly salary of residents in Ho Chi Minh City, a more developed city in Vietnam, is only 8.44 million Yue South Dun (about 2532 yuan). This has led to most Southeast Asian consumers who only want to buy lower -priced small motorcycles and low -profile electric vehicles.

Under multiple reasons, electric vehicles still face many challenges in Southeast Asia. Last year, the total sales volume of pure electric vehicles in the Indonesian market was only 700.

Picture source: Bloomberg

From this point of view, the Southeast Asian electric vehicle market seems to be disadvantaged. However, it should not be ignored that Southeast Asia's "electric vehicle revolution" has begun from hybrid to pure tram. According to the results of the consulting company Abeam Consulting, although three -quarters of the interviewees believed that Thailand's charging infrastructure was insufficient, Thai consumers had obvious interest to turn to electric vehicles.

It is precisely because the market has just started that the short period of blank in the new energy market is particularly precious. For new energy models, which are already in the second echelon of the new car, the difficult Great Wall Euolia Low series, and even the new energy models launched by domestic car companies Chery, Dongfeng, Geely and Changan, are rare and new energy models. Chance.

Southeast Asian consumers have obvious consumption preferences for cheap small cars. For some Chinese new energy vehicle companies that go out to sea with pure electric low -equipped small cars, "outer rolls" in another direction may also be a good thing.

*This article is based on public information, which is only used as information exchange, and does not constitute any investment suggestions

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