The pickup truck Cyberrack, which Musk described as "more practical than a truck and more high-performance than a sports car," has already entered the countdown to unveiling its mysterious veil.
On November 16th, Tesla CEO Musk once again confirmed to the outside world that the first batch of mass-produced Cyberracks will be delivered at Tesla's Texas super factory.
Prior to this, similar to the highly anticipated Tesla Optimus robot, the mass production and delivery dates of the Cybertruck were frequently postponed and tickets were repeatedly skipped, which made the recent news of Cybertruck delivery somewhat exceed market expectations.
As the delivery of Cyberrack approaches, Tesla's industrial chain supporting companies in A-shares are also beginning to take notice.
Since November, the Wind Tesla Concept Index has risen by 5.89%; Weitang Technology (300707. SH), a suspected supplier of Tesla's body and door forging accessories, was the most active, hitting the 20% limit up for two consecutive trading days, and closing up 14.08% as of November 16.
In the past few years, Tesla China supporting companies such as Topper Group (601689. SH) and Sanhua Intelligent Control (002050. SZ) have enjoyed the dividends brought by Tesla's global expansion. From the current supply pattern of Tesla Cyberrack, the supporting structure may be similar to the Tesla sedan series.
However, Cyberrack is limited by production capacity bottlenecks, making it difficult to generate sufficient immediate revenue for related supporting enterprises.
Cyberrack is hot
The Tesla Cyberrack was first launched in November 2019 and bookings were immediately initiated at that time.
The cool design of the game's Laura model car and the armored body of the army, with a pre order deposit as low as $100, make Cyberrack orders seem overwhelming and overwhelming.
As of September this year, according to Tesla's official disclosure of data, the cumulative orders for Cyberrack have exceeded 2 million units, approaching the total production of all Tesla models combined.
From public information, the Cyberrack's vehicle features come from the Ultra-Hard30X cold-rolled stainless steel, bulletproof glass, and adjustable air suspension system applicable to a large number of load changes applied to SpaceX rockets.
From the current mass production progress, due to the widespread use of high-strength materials and the use of advanced autonomous driving functions and other black technologies, Cyberrack faces great challenges in mass production.
Tesla's official estimate is that it will take 8 years to deliver cumulative orders based solely on the global annual production level of 250000 vehicles until 2025.
According to the pre-sale price, the single electric drive, double electric drive, and triple electric drive versions of Cyberrack are priced at $39900, $49900, and $69900 respectively, which is highly cost-effective compared to their cost.
However, Musk previously candidly stated in the performance communication meeting that he "does not want to be too eager to promote the mass production of Cybertruck", because at current pricing and cost, Cybertruck single car sales are still negative cash flow, and its costs still need to be adjusted. Therefore, the scale of mass production will be controlled.
Surprise of A-share supporting companies
Although the delivery schedule for Cyberrack has been long, A-share investors have started to take notice.
On the week of November 17th, the Wind Tesla Index rose 3.86%, marking the sector's highest increase since June this year.
Unlike previous years that focused on three electric and control systems, the upstream and downstream companies of body forging have become star companies in this wave of Cybertruck market.
Although related companies are generally required by Tesla to sign supply confidentiality agreements, they are all responding "sidetracked" on interactive platforms.
For example, Chongqing die-casting enterprise Meilixin (301307. SH) responded in response to whether the company was involved in Cyberrack supply, stating: "The leading North American new energy vehicle enterprise is the company's core customer, and due to signing a confidentiality agreement with the customer, relevant supply information cannot be disclosed
According to incomplete statistics from the 21st World Economic Report reporter, several A-share companies such as Xusheng Group (603305. SH) and Rongtai Co., Ltd. (605133, SH) have responded to investors in a tactful manner similar to "inconvenient to disclose due to confidentiality agreements".
In contrast, suppliers below Tesla Tier 2 do not have confidentiality agreements,
Rubaowu Magnesium Industry (002182. SZ) responded by stating that the company supplies magnesium alloy steering wheels and rear armrest brackets for Tesla Cybertruck pickup trucks. Simultaneously providing aluminum alloy forged control arms to its first tier suppliers.
Mingke Jingji (001319. SZ) stated that the company provides automotive component products for Tesla and applies them to Tesla's Cyberrack models. The project is mainly produced and delivered by the company's Zhejiang factory, and the delivery situation is currently good. The project is in the early stage of mass production.
Some companies are also willing to actively join the Cyberrack - Bowey Alloy (601137. SH), pointing out that the company's high-strength and high conductivity automotive connector materials are universal for all lithium-ion powered new energy vehicles. If Tesla Cyberrack is released in the future, it will bring new growth to the company's materials.
Hidden worries about the Chinese market's lack of conformity
In the past, China was undoubtedly the largest production supporting country for the Tesla sedan series in the world, with the delivery volume of Tesla's Shanghai super factory consistently reaching over half of the global level.
However, there are differences in the prospects of Cyberrack's industry chain in China compared to Tesla's sedan series products, which will inevitably affect the maturity of the industry chain in China.
Huafu Securities pointed out in the Cybertruck research report that in previous years, pickup truck customers were mainly in North America, Southeast Asia, and other regions, accounting for about 3/4 of global pickup truck sales. The sales pattern of pickup trucks in China is mainly dominated by local brands such as Great Wall and Jiangling, and practicality dominates the purchasing trend.
Due to the disadvantages of electric pickup trucks in terms of charging convenience, as well as positioning and other reasons, there are difficulties in the large-scale implementation of Cybertruck in China.
The design of the Cybertruck is relatively avant-garde, but it does not meet the aesthetic standards of the current public. From the current market outlook, the Cybertruck is expected to have a high price and mainly target the positioning of the second and third cars in wealthy families. Therefore, in the future, the Cybertruck may be difficult to reach the sales volume of the Model 3 or Model Y, or may be close to the positioning of the Model S in Tesla's product positioning Zhang Xiang, Dean of the New Energy Vehicle Technology Research Institute of Jiangxi New Energy Technology Vocational College, told reporters.