Li Bin: Tesla's price reduction does not fluctuate the order of Weilai.
CTOnews.com, November 10, according to the Securities Times, at the earnings call for the third quarter of 2022, Li Bin, founder and chairman of Lulai Automobile, responded to the "Tesla price reduction" that Tesla's price adjustment was nothing new, and the demand for Lulai products did not fluctuate.
Weilai believes that Tesla Model 3 and Model Y do not entirely belong to the same price range, so their price reduction does not have much impact on Weilai.
CTOnews.com learned that Model 3 and Model Y in Tesla's Chinese mainland area announced a price reduction of 14000-37000 yuan on October 24. The starting price of the adjusted Model 3 model is 265900 yuan; the starting price of Tesla Model Y model is 288900 yuan (all are subsidized starting prices).
In addition, Li Bin revealed that the increase in R & D investment in the third quarter of Weilai is mainly due to an increase in R & D investment in batteries, chips and other areas, which is part of the Weilai plan. Next, the R & D investment of Xilai will basically be maintained at the level of 3 billion yuan per quarter.
According to the financial results for the third quarter of 2022 released earlier today, the revenue of Lailai in the third quarter was 13 billion yuan, up 32.6 percent from the same period last year, another record high for a single quarter, while R & D expenditure was 2.94 billion yuan, a new high for a single quarter. In addition, delivery in the third quarter of 2022 reached 31607 vehicles, an increase of 29.3% over the same period last year, and quarterly delivery reached an all-time high.
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"Weilai: revenue of 13 billion yuan in the third quarter increased by 32.6% over the same period last year, and the delivery volume reached a record high of 31607 vehicles."
