GWMOTOR(601633) -·2024-12-27 05:08Summary of Conference Call Notes Company and Industry Overview - The conference call discusses the technology and features of the Hi4-Z system developed by Great Wall Motors, focusing on its application in off-road and urban vehicles [1][4]. Key Points and Arguments 1. Hi4-Z Technology Features - Long Range and Efficiency: The Hi4-Z system features a 59 kWh battery designed for off-road vehicles, allowing users to charge once a week for commuting needs. It achieves the longest range in its category due to a unique transmission design [1]. - Energy Efficiency in Urban Use: The vehicle can achieve a fuel consumption of 7.2 liters per 100 km in urban conditions and 9.5 liters on highways, outperforming competitors [1][4]. - Performance Metrics: The vehicle accelerates from 0 to 100 km/h in 4.8 seconds when charged and in 5 seconds when the battery is low, thanks to efficient power distribution [1]. - Off-Road Capability: The vehicle features a torque amplification system for both front and rear axles, enhancing its off-road performance [1]. 2. Battery and Weight Management - Design Innovations: The vehicle's design integrates components to maintain a competitive weight while achieving a range of 200 km. Innovations include a compact three-speed transmission and the use of lithium batteries to reduce weight by 12 kg [1][5]. - Weight Target Achievement: The final vehicle weight is just over 2.9 tons, achieved through high-density battery selection and component integration [1][5]. 3. Future Improvements and Cost Considerations - Model Configuration Adjustments: Different vehicle types will have tailored configurations to optimize user experience without compromising performance [1][5]. - Cost Analysis: The Hi4-Z system is approximately 30,000 yuan more expensive than the Hi4-T system, but it offers significant savings in fuel and electricity costs over time [5][6]. - User Experience: The Hi4-Z system is designed to cater to users who desire off-road capabilities without being off-road enthusiasts, appealing to a broader market segment [5][6]. 4. Performance in Extreme Conditions - Cold Weather Performance: The Hi4-Z system performs better than competitors in extreme cold, maintaining higher efficiency and range [1][4]. - Battery Technology: The use of ternary lithium batteries provides better discharge performance in low temperatures compared to iron-lithium batteries used by competitors [1][4]. 5. Market Positioning and Customer Insights - Target Customer Profile: The Hi4-Z is aimed at users seeking a balance between urban and off-road capabilities, with a focus on lifestyle and quality of life rather than extreme off-roading [5][6]. - International Market Strategy: The company plans to adapt its offerings based on regional demands, potentially offering hybrid versions in markets where large battery vehicles may not be practical [6]. 6. Technical Comparisons - Hi4-Z vs. Competitors: The Hi4-Z system is positioned as more efficient than traditional three-motor systems, with a focus on urban use and occasional off-road capabilities [4][6]. - Cost and Performance Trade-offs: The company acknowledges that different vehicle types require different configurations, and simplifications may be made for urban-focused models [5][6]. Additional Important Content - Future Development Plans: The company is considering a simplified version of the Hi4-Z for urban use, with ongoing research into the next generation of the technology [5][6]. - Cost Recovery Timeline: Users can expect to recover the additional costs of the Hi4-Z system within 2 to 4 years, depending on usage patterns [6]. This summary encapsulates the key insights from the conference call regarding the Hi4-Z technology, its market positioning, and future developments.