What does Geely rely on to revive the century-old British car brand LEVC?
Since Xiaomi SU7 gained significant traffic with its pricing strategy, many new cars now follow its approach before launching—first releasing a price far higher than market expectations during the preheating period to stimulate public discussion, and then announcing a reasonable price upon official launch, giving people a very pleasant surprise.
For example, the LEVC Wing Zun L380.
(The editor notes: Many people may still be unfamiliar with LEVC, a century-old British brand, which is why the latter part of this article focuses on introducing it.)
The estimated price of this car after its debut exceeded 600,000 yuan, and the official guide price upon official launch is 379,900 to 479,900 yuan.
It should be noted that for the first 3,000 car owners who purchase before July 31, they can also enjoy a limited-time transaction price of 349,900 to 449,900 yuan, as well as a very sincere rights policy. One of them is a 40,000 yuan cash benefit, which includes a 20,000 yuan gift for exchange purchase, a 10,000 yuan purchase tax fund, and a 10,000 yuan toll fund, meaning the new car's landing price can be at least 10,000 yuan more favorable.In addition to this, the benefits of the L380 also include a free 11-year-old Huanghuali tree, free installation of a home charging pile, a gift of sheepskin headrests and lumbar supports, lifetime warranty for the entire vehicle, free data traffic for life, 12 free chauffeur services per year, and free after-sales rescue services, with a total value of up to 100,000 yuan. Therefore, LEVC Yizhen Automobile has indeed made a substantial investment of 300 million yuan for this event, which is a very generous move.
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As a result, when the price and benefits of the L380 were announced, many people in the audience felt that it was "too powerful."
01
Analysis of the New Car Configuration
Of course, how valuable the Yizhen L380 actually is depends on the specific configuration list.The L380 comes in four configurations, with the most noticeable differences between models being the seating layout and battery capacity. There are two seating options: six-seat and eight-seat configurations, and three battery pack options: 100 kWh, 116 kWh, and 140 kWh. The six-seat layout is available with all three battery packs, while the eight-seat layout is only available with the 140 kWh battery pack.
The 100 kWh six-seat Air version, priced at a limited-time offer of 349,900 yuan, and the 116 kWh six-seat Pro version at 409,900 yuan, both feature Geely's own batteries with CLTC ranges of 570 kilometers and 675 kilometers, respectively, and both are front-wheel drive single-motor vehicles.
The 140 kWh eight-seat four-wheel-drive Max version, priced at 439,900 yuan, and the 140 kWh six-seat four-wheel-drive Ultra version at 449,900 yuan, both are equipped with CATL's Kirin battery. Their CLTC ranges are 785 kilometers and 805 kilometers, respectively, and both feature dual permanent magnet motors and intelligent four-wheel drive. With a 0-100 km/h acceleration of 5.5 seconds and a 100-0 km/h braking distance of 35.98 meters, the manufacturer claims that both of these figures are superior to those of the Rolls-Royce Cullinan.
Overall, the L380's configurations with different battery capacities have significant functional differences, with standard features including a smart refrigerator, dual "Dragon Eagle One" chips, and a cyber chassis.Therefore, the experience of the four models in the smart cockpit will be relatively similar, all supporting 24 intelligent features such as automatic parking and dTCS intelligent anti-slip. However, in terms of the intelligent perception system, the two versions with the 140-degree battery will have additional features like A-pillar blind spot assistance, infrared thermography, rain and fog enhancement, and night vision perception systems, as well as AI large model fusion voice and a 19.8-inch AR-HUD head-up display system. The Cyber chassis is a combination of a front double wishbone MacPherson suspension and a rear multi-link independent suspension, it should be noted that the entry-level version does not have CDC.
Now, let's talk about the biggest highlight of this car—space. From its name inspired by the largest double-decker airliner, the 380, and also known as the "land Airbus," it is evident that the L380 is extremely confident in its space.
Based on LEVC's world-first space-oriented pure electric architecture "SOA," a super long body of 5316mm, and a wheelbase of 3185mm, the L380's space is more versatile, capable of meeting a variety of scenarios. It also optimizes the direction of the body's longitudinal beams, uses a flattened design for the rear suspension, and combines this with a completely flat floor design, resulting in a vehicle space utilization rate of 75%, which exceeds the industry average by 8%. In addition, the SOA architecture also features a pioneering rear sinking design, which allows for a trunk space of up to 1100L with six passengers, easily accommodating nine 24-inch suitcases.The L380 boasts a highly advantageous seating layout, with even the third row offering a spacious 940mm. Coupled with the largest cabin door opening width in its class at 890mm, a side aisle of 481mm after moving the second-row seats forward, and a 200mm-wide central aisle in the second row, it facilitates easy access to the third row through the second row, side doors, and rear compartment. What's more distinctive is that the SOA supports a flexible seating layout of 3-8 seats, meaning that the L380 will also introduce models with 7, 5, 4, and 3 seats in the future.
02
Can it challenge the Denza D9?
In the current high-end new energy MPV market, the Denza D9 is the absolute king, and any new product entering this segment cannot avoid comparison with it.
So, does the L380 have a chance to challenge the Denza D9?From the perspective of pricing, the Denza D9 comes in both DM-i and EV versions. The plug-in hybrid version, known as the DM-i, is priced between 339,800 and 600,600 yuan, with a total of six configurations available; the EV version is priced between 379,800 and 469,800 yuan, with three configurations in total.
Looking at the options for configuration, the Denza D9 offers a richer selection compared to the L380, and there are four models priced under 400,000 yuan, with two models at 409,800 yuan. This indicates that although the Denza D9 has models that cost over 400,000 yuan or even 600,000 yuan, the main focus is on the "entry-level" models in the 300,000 to 400,000 yuan price range.
In this regard, the L380, with fewer models and no significant price advantage, is at a disadvantage.
Moreover, the biggest challenge facing the L380 is not its competitors but the limited scale of the high-end pure electric MPV market. Currently, the best-selling pure electric MPV on the market is the XPeng X9, which starts at 359,800 yuan, but its sales in May were only just over 1,600 units, with the highest monthly sales not exceeding 4,000 units. The Ideal MEGA and Zeekr 009, with prices over 500,000 yuan, only have monthly sales in the hundreds. Even the Denza D9's high-volume model is the DM-i version, with the EV version selling less than 500 units per month.Therefore, no matter how excellent the L380 is, it is estimated that its future monthly sales will not exceed 2,000 units.
03
Reviving a century-old British automotive brand in the Chinese way
Since it is highly likely that it will not achieve high volume sales, what is the purpose of Geely launching this new brand?
To revitalize assets, enhance the image of Geely, and lay out a high-end business strategy.As early as 2006, Geely Holding Group Chairman Li Shufu acquired a 20% stake in LEVC, even before Geely's acquisition of Volvo in 2010. Later, in 2013, Geely achieved full ownership of LEVC.
However, after acquiring LEVC, Geely did not have the capability to operate a global brand for a long time. Coupled with the fact that LEVC has been known for its London taxis since its inception in 1908, Geely may have been uncertain about how to revive this historic brand. As a result, LEVC was "idled" in Geely's asset portfolio for a considerable period—until Geely established a global technological system and the demand for high-end new energy MPVs surged, bringing LEVC back into the spotlight.
In fact, such stories are not uncommon among the brands acquired by Li Shufu. As a master of capital market operations, Li Shufu has been continuously helping Geely Holding Group to build a global automotive business map through "buying sprees" over the years. The automotive brands he has acquired include not only the aforementioned Volvo and LEVC but also Proton and Lotus, and he has also taken stakes in Daimler and Aston Martin.
Under Geely's management, these acquired brands have been revitalized. Volvo and Lotus have successfully gone public, Proton is continuously expanding its market, and now it's LEVC's turn.
In addition to revitalizing assets, for Geely, reviving LEVC has other benefits—As another high-end brand under Geely, LEVC, like Zeekr, adds value to Geely's main brand.
In the end, LEVC is also a part of Geely's high-end business strategy.
In fact, Li Shufu's "buy, buy, buy" approach is not limited to the automotive industry. In his early years, he purchased a Huanghuali (Dalbergia odorifera) manor in Hainan and established a company in collaboration with local state-owned enterprises, focusing on the management of Hainan Huanghuali. In September last year, the company launched an applet named "Liangmu Forest," aiming to create an online trading platform for Hainan Huanghuali and innovatively initiating a "one tree, one certificate, one code" transaction model.
When promoting the revival of LEVC, Geely considered combining these two industries because Hainan Huanghuali is also a symbol of high-end in the minds of the Chinese people, which aligns with LEVC's brand tone. Doing so not only allows LEVC to gain a new narrative and brand depth but also better integrates into Chinese culture, thereby getting closer to and adapting to the needs of the Chinese market.This is also why Hainan Huanghuali is included as a gift in the purchase benefits of the L380, and it is said that there may be optional interior configurations related to this in the future.
04
Conclusion by Jia Shi
If we only discuss the price of the L380, it is obviously a narrow perspective. After Li Shufu called for the industry to stop vicious internal competition, the focus of Geely in its products is definitely not just cost-effectiveness.
The launch of the L380, on one hand, reflects Geely's proficiency in operating and reviving a brand, and on the other hand, this car is also an important piece for Geely to expand its high-end territory. Many of Li Shufu's "buy, buy, buy" behaviors that were not understood by the world many years ago are gradually piecing together into a huge business map today.And after successfully operating Lotus and Zeekr's listings, LEVC may also not rule out this possibility in the future. Referring to Lotus's listing path, sales volume is not the only criterion for the capital market to judge its value.
So, can LEVC be successful in the future? No one knows the answer now. The only certainty is that the complex and ingenious business operations behind LEVC have added another bold stroke to Li Shufu's legendary business life.
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