Xiaomi Auto sets up independent options, and the annual sales of 1 million vehicles can be realized

The Charge in the Xiaomi Auto Option Plan

Xiaomi Auto Recruitment will be fully open.

It has been learned from many sources that after opening several autonomous driving and cockpit positions, the entire vehicle part of Xiaomi will also be open for recruitment. At the same time, he also learned exclusively about Xiaomi's stock incentive plan.

From the information obtained, Xiaomi Motors will grant employees independent auto company options, which will be issued in 5 years. Although this is different from the 4-year limit on the market, it is the same as the Xiaomi Group’s option issuance time limit, which is both 5 years.

After the option matures, there are two ways to realize it. The first is through the conventional listing channel, "a share of auto option before the listing corresponds to a share of the main auto stock after the listing".

The second is that the main body of Xiaomi Auto is not listed, but the options can still be realized. From this plan, we can see the ambitious sales plan of Xiaomi Automobile.

According to the information obtained, if the main body of Xiaomi Auto is not listed, employees can exchange the auto options in their hands into Xiaomi restricted stock units of the same value according to the agreed performance milestones, "and redeem them into Xiaomi stocks or equivalent value after 3 months. cash".

There are currently three major milestones: new car launches, annual sales of 500,000 vehicles, and annual sales of 1 million vehicles, of which 1 million vehicles can be sold annually, and all mature options can be converted into Xiaomi stocks or equivalent cash. To put it bluntly, if Xiaomi Motors is not listed, employees can convert their options into Xiaomi stocks for cash according to different performance anchors.

Regarding the above information, we sought verification from Xiaomi Group, and no response has been received as of press time.

The current capital rhythm of car-making companies is generally to go public after the car is launched, and this is not the case for Weilai, Xiaopeng Motors and Ideal Motors. However, Lei Jun has always been cautious about listing. Xiaomi Group has been running for 8 years before landing on the Hong Kong stock market. At the press conference announcing the car building, Lei Jun even stated that he would invest 10 billion US dollars to build a car in 10 years without external financing.

Inferring from this, the main body of Xiaomi cars may not be eager to enter the open market. The subtext is that the sooner the annual sales of one million units are realized, the sooner the options in hand can be realized. This is undoubtedly a charge for Xiaomi Motors and the employees who join Xiaomi Motors.

Just like entering the field of smartphones, the timing of Xiaomi's entry into the automotive industry is also close to the Red Sea. Ideal Auto’s internal letter at the beginning of the year stated that it will occupy 20% of the new energy vehicle industry by 2025. Based on a total of 8 million units, Ideal Auto will sell 1.6 million units. Although Weilai and Xiaopeng Automobile have not disclosed their sales plans, they are obviously not willing to lag. What's more, there are a large number of players such as Tesla and independent brands of traditional car companies competing in the limited market.

From the current point of view, Xiaomi Auto’s option realization conditions are not small, but it is not radical to substitute into the market structure in the next five years. Moreover, it is learned from the Xiaomi candidate that, in terms of cash, the offer offered by Xiaomi is also considered competitive, which is about 20%-30% higher than the market.

On March 30, the main body of Xiaomi Group's listing announced that the car manufacturing business was approved by the board of directors to establish a car company. Lei Jun, the founder of Xiaomi Group, will be the CEO of the car company.

After announcing the establishment of the car project, a quarter has passed, and the overall plan for the recruitment of Xiaomi cars has only surfaced. On June 14, Xiaomi Group officially released more than 20 autonomous driving business positions, including data platform, vehicle infrastructure, decision planning, millimeter-wave algorithms, development tools, front-end platform development, embedded software, control, perception, high-precision Maps, simulation platforms, etc., and there is a word "urgent" before each recruitment notice. Today, the vehicle business is also beginning to advance with the recruitment of personnel.

It has to be said that, compared to Baidu's car-making has entered the sludge model stage, Didi has the accumulation of the previous cooperative model D1, and the progress of Xiaomi's car-making is one step slower. After stroking the structure, Xiaomi's car has reached the time to fully speed up.

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