$NIO Inc(NIO.US) The curse of extended-range vehicles has unsurprisingly also plagued Aito.

Before the M8 launch, the M9 could sell 20,000 units a month. After the M8 launch, M9 sales were cut in half. Now with the M7 launched, M8 sales have also been cut in half.

M6 is coming soon, and if nothing unexpected happens, M7 sales will also be halved.

Especially for automakers strongly focused on intelligent driving, the convergence of product lines and capabilities means lower-end products will inevitably cannibalize the market for higher-end ones.

The brand's overall profit and revenue are being continuously lowered to boost sales volume. The path dependency created by this behavior is terrifying. After M6 comes M5, after M5 comes M4, and the brand will lose its upward momentum.

Before the m03 launch, the overall consumer perception of XPeng was a mid-to-high-end new force brand priced at 200,000-300,000 yuan. After the m03 launch, this perception changed to a low-to-mid-end new force brand priced at 100,000-200,000 yuan. Moreover, XPeng has developed severe path dependency. The performance of the new P7 shows that XPeng has almost forgotten how to make high-end cars.

After the L6 launch, Li Auto was also pulled down from a 300,000-400,000 yuan high-end new force brand to a 200,000-300,000 yuan mid-to-high-end new force brand.

Looking at it now, the criticism back then that the independent Nio Onvo brand was a waste of money seems a bit hard to justify, doesn't it?

Putting everything else aside, Binzi's vision is truly sharp.