Tesla's market value exceeds 3 Toyota, and traditional car companies really can't keep up with the times?

As the world's first recognized car company, Toyota's market value is far ahead of other car companies. Only this year, this situation has changed. Tesla, a "sudden emergence", not only achieved a market value of more than 600 billion US dollars, but also achieved an amazing figure of more than 6 times during the year.

At the same time, the market value of Weilai, Ideality and Tucki, a new domestic car-making force, is also soaring this year. Weilai's market value once exceeded $70 billion, ranking fourth in the world and first in China, second only to Tesla, Toyota and Volkswagen.

For a time, topics such as "new forces to build cars catch up with traditional car giants" quickly caused heated discussions inside and outside the industry. However, compared with traditional car giants such as Toyota and Daimler, Tesla and other new car-making forces are not as good as the former in terms of asset scale, sales revenue and profitability. Many people don't understand why the valuation of the more powerful traditional automobile giants will be surpassed by the new forces that build cars. What's the difference between them?

Industrial prospects and scientific and technological attributes have achieved high valuations.

Here, let's briefly talk about the market value. According to the data, the so-called market value is not the current value of the enterprise, but the investors' expectations for the future of the enterprise. If the expectation is good, investors will buy in large quantities, thus increasing its market value, which is also the reason why Tesla and other new car-making forces can make Lian Chao traditional automobile companies lead in market value.

On the one hand, people are optimistic about the prospects of new energy vehicles. After all, clean energy has become the knowledge of the current world, and the trend of electric vehicles is becoming more and more obvious. On the other hand, because the products launched by the new forces of making cars are no longer simple cars, but more like smart mobile terminals, there is more room for imagination in the future.

In recent years, the global new energy automobile industry has accelerated, and the comprehensive promotion of electric vehicles has become the general trend. At present, more than 12 countries have formulated a timetable to ban the sale of fuel-fired vehicles. The announcement of the timetable for banning the sale of fuel vehicles has had a great impact on the automobile market structure and accelerated the process of automobile electrification. At present, the products of the new forces are mostly electric vehicles, which represent the future development trend. Therefore, investors have high expectations for the new forces of building cars. Because of the good prospects, the stock price and market value will rise.

It is understood that this year, the state promulgated a number of policies to promote the development of new energy vehicles, which put forward clear requirements for the production and sales of new energy in the future. The penetration rate of electric vehicles in China will increase from 5% this year to 20%, which will triple the demand in the next four years. Some organizations also predict that the total production and sales scale of new energy vehicles in China will reach10 million during the "14 th Five-Year Plan" period. Faced with such a large market demand, it has greatly stimulated investors' confidence in betting on the new energy industry.

In the matter of intelligence, many new forces in building cars are related to the Internet. The main selling points of products are different from traditional cars, multi-screen interactive experience, autonomous driving technology, and constantly upgrading and evolving OTA capabilities. These are their selling points, showing more possibilities and imagination of a smart car.

It is undeniable that the current automobile is developing in the direction of electrification and intelligence, and the concept of smart car, which is different from traditional travel tools, is more sought after by the capital market. The outside world's value judgment on the new force of making cars is different from that of traditional car companies, and the former is not a traditional car company. With the aura of science and technology and the new track, the new force of building cars has met investors' expectations of its prospects. In short, the focus of investors' attention is not the same, which leads to the disparity in market value.

Traditional car companies are not always conservative.

However, do you think that traditional car companies that have fought many battles will sit still? Who says they no longer have the ability to innovate and update new machines? In order to accelerate the transformation of "electrification+intelligence" business, more and more traditional car companies are attacking this brand-new battlefield.

This year, luxury car brands represented by BBA have accelerated the transformation of electrification. Not long ago, at the Guangzhou Auto Show in 2020, BMW iX3 was officially launched, which integrated BMW's cutting-edge technologies in intelligence, electrification and digitalization, and demonstrated the powerful strength of BMW Group in the field of luxury intelligent electric vehicles. Both BMW iX3 and Audi's e-tron show the determination of traditional car companies to transform into electric vehicles. Toyota's pure electric car CH-R? EV and Yize EV have also been sold in the domestic market. Nowadays, Volkswagen has announced the ID.4 of a new generation of pure electric vehicles, and also acquired Jianghuai Automobile and Hefu Guo Xuan in China, which has become an important performance of its electrification strategy in the China market.

Electrification is only the beginning, and intelligence is the watershed. In order to make up for the lack of software capabilities, many traditional car companies began to set foot in the field of software research and development. For example, Volkswagen Group invested 7 billion euros to set up a car. Software department, and Toyota set up a software company to weave? Planet? Holding, there are two companies weaving? Core and weave? Alpha, the former is responsible for the research and development of autonomous driving technology, while the latter is to carry out research in the fields of interconnection and in-vehicle software. I believe that before long, traditional car companies will get rid of their comfort zones, which will be another scene.

Obviously, today's capital market is crazy about the new forces of building cars, just hoping to bet on the next trillion mark. However, behind these high market values, they are actually just "playthings" in the hands of the capital market. Therefore, the new car-making forces should focus on the core of constantly improving technology and products, otherwise they can only "watch him build tall buildings, watch him entertain guests and watch his buildings collapse."

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.