On August 13th, Jike Motors released the 2025 Jike 001 and Jike 007 models.
Compared to the previous version, the all-new 001 and 007 have been upgraded in terms of battery, intelligent cockpit, and intelligent driving.
The new model is equipped with the second-generation BRICS battery, which charges faster and has a longer range compared to the first generation.
On the intelligent cockpit, ZEEKR OS has also been officially upgraded to ZEEKR AI OS, integrating large models into the car's infotainment system, making it more intelligent than the original system.
Among all the upgrades, the new model's Haohan Intelligent Driving 2.0 is the biggest configuration change. The vast intelligent driving of 2.0 is equipped with high-speed and city assisted driving functions, enabling commuting mode. Jike stated that it will complete the phased push of commuting mode in September and achieve full user push by the end of the year.
While upgrading the product, Jike also made adjustments to the prices and versions of these two cars.
The price of the new 007 four-wheel drive performance version remains unchanged, with the four-wheel drive version with intelligent driving reduced by 30000 yuan, and the long-range rear wheel drive intelligent driving version and rear wheel drive intelligent driving version both reduced by 20000 yuan.
The price of the new 001 series remains unchanged, but it has added the self-developed intelligent driving function of Jike. At the same time, a "Beggar Edition" model has been added, which uses Mobileye chips and is equipped with the supplier's intelligent driving solution.
At the same time as the addition and price reduction of 001 and 007 for listing, Jike also considered old users and offered exchange rights. Car owners who place orders before September 30th will enjoy a discount of 10000 yuan on the final payment of their first 2025 model Jike 001 or 2025 model Jike 007.
But this measure did not calm the emotions of old users. Jike car owners expressed their lack of understanding regarding the initiative to launch the 2025 model in less than half a year. After all, the official statement of Jike has clearly stated that it will not launch a facelift of 001 this year.
Many of our car owners have recently purchased new cars, and Jike did not disclose beforehand that the 001 would be updated. I even recommended that a friend buy the 2024 model at the end of July. How can I explain this to a friend? "A two-year Jike 001 owner told 21st Century Business Herald.
Understanding the emotions of car owners and participating in market competition, Jike is bound to move forward. Both current and future models, within Jike's capabilities, will consider old car owners, "said Lin Jinwen, Vice President of Jike.
Old users are the most difficult group to take care of when replacing old and new models, and both Xiaopeng and Ideal have suffered losses.
He Xiaopeng, CEO of Xiaopeng Auto, was born on the Internet. After cross-border car building, his first fall was to change the model. In December 2018, Xiaopeng's first product G3 was launched and delivery began four months later. However, during the delivery period, the new version of G3 with higher range, lower price, and upgraded autonomous driving hardware was released, causing a large-scale crackdown from old car owners.
In 2022, two months before the launch of the Ideal L8, the Ideal ONE dropped by 20000 yuan without any announcement of discontinuation. The old car owners who had just picked up the car rose up to defend their rights.
Unlike the new forces, Jike, although born in 2021, is a "veteran of car manufacturing". It is a "re entrepreneurship" of Geely's car manufacturing industry for more than 20 years, with more experience in car manufacturing and model upgrades. Behind the current price reduction and allocation increase, it stems from Jike's desire for sales volume.
Jike stated that according to the annual iteration plan, the 2024 Jike 001 is scheduled to be launched in the second half of this year, and the 2025 001 is planned to be launched early next year. The 2024 model will be launched in February, and the 2025 model will be launched in August, both of which are considered as "planned ahead of schedule".
As for why the 2025 model 001 was launched at this time, Jike said there are three reasons.
Firstly, after the release of the 2024 001, there has been a high demand from users for intelligent driving.
Secondly, the development of the first phase of the intelligent driving solution for the 2025 model 001 should be completed three months ahead of schedule, and considering the market competition environment, Jike has decided to launch it on the market after the first phase of development.
Thirdly, the core purpose of this price reduction and allocation increase is to seize more market share. Every car from Jike hopes to be the first in the segmented market, "said Jike CEO An Conghui.
Since its establishment 4 years ago, Jike has set a total of 3 sales targets for the following year, and the completion rate of last year's sales target was about 85%.
This year, Jike's annual delivery target is 230000 units, but in the first seven months, Jike delivered about 104000 units. Although it increased by about 84% compared to the same period last year, it only achieved 55% of this year's sales target. To achieve the sales target, it means that in the next 5 months, Jike needs to sell an average of over 25000 vehicles per month in order to basically meet the sales target.
While the sales target is under pressure, Jike is facing an increasingly fierce market competition environment.
At present, there are a total of 4 models available for sale in Jike, but the main sales force has always been Jike 001, accounting for about 60% of the overall sales. However, in July of this year, the sales volume of Jike 001 was only 9335 units, a decrease of 35% compared to June's 14383 units, making it the model with the highest month on month decline among all Jike models in July.
The delivery decline of 001 has also affected overall sales. In July, the sales volume of Extreme Krypton was only 15000 units, a month on month decrease compared to the first sales volume of over 20000 units in June.
The sales volume of Jike exceeded 20000 units in June, but decreased month on month in July. On the one hand, Jike needs to boost its momentum after its IPO. On the other hand, in July, Jike 001's competitor Xiaomi Su7 accelerated its delivery and began to increase production in large quantities, which has impacted the sales volume of Jike 001, "an analyst told 21st Century Business Herald.
Since the launch of Xiaomi Su7 at the end of March, the delivery volume has been steadily increasing from 7058 units in April to over 10000 units in June, and then to over 13000 units in July.
Prior to the price increase and reduction of Jike, BYD also offered a discount of 50000 yuan on the entire lineup of its Formula Leopard 5 at the end of July, with the price range adjusted from 289800 yuan to 352800 yuan to 239800 yuan to 302800 yuan.
But unlike the price reduction and configuration increase by Extreme Krypton this time, Equation Leopard did not upgrade its configuration, only lowered the price by 50000 yuan.
The market competition faced by Equation Leopard 5 and Extreme Krypton 001 and 007 is also different. Fangchengbao specializes in off-road vehicles, with its direct competitor being the Tank 300. But the competition faced by Jike 001 and 007, a hunting coupe and a sedan, is even more intense. There are many cars in the same price range and type, such as Xiaomi Su7, Tesla Model 3, Avita 12, etc.
In less than half a year, the new 001 with intelligent driving version was launched, and the 007 was fully upgraded with a maximum reduction of 30000 yuan. Jike did not ignore the consequences.
Unlike traditional cars, new energy vehicles rely on their ability to iterate quickly to win in competition. And Jike has this strength. In the future, it's not just Jike, I believe other car companies will also iterate quickly, "said Jike CEO An Conghui.
Among the three factors of old user reputation, market share, and stock price feedback, Jike has made a choice. On August 14th, one day after the release of the new 001 and 007 models by Jike, the stock price of Jike rose by over 6.8% to $15.35 at the close of the US stock market.