Wang Xing cashed out his ideal car again. He spent over 7 billion to Li Xiang back then, but now he has earned back tens of billions

Tech 2023-10-13 13:14:43 Source: Network

#Autumn Life Check In Season # We sincerely invite you to click on 'Follow' to receive exciting content and see different stories every dayThe name Wang Xing has already resounded throughout the internet industry. He is the founder and CEO of Meituan, and also the largest external shareholder of Ideal Automobile

#Autumn Life Check In Season # We sincerely invite you to click on 'Follow' to receive exciting content and see different stories every day

The name Wang Xing has already resounded throughout the internet industry. He is the founder and CEO of Meituan, and also the largest external shareholder of Ideal Automobile.

Wang Xing once invested more than 7 billion yuan in Li Xiang's ideal car in cash, but now he has cashed out several tens of billions by reducing his holdings multiple times.Why did Wang Xing choose the ideal car? How did he earn huge profits from it?

Wang Xing and Li Xiang are both consecutive entrepreneurs born in the 1980s, with similar experiences and backgrounds. Wang Xing has founded well-known internet platforms such as Bubble Net, Campus Net, and Meituan, while Li Xiang has founded well-known internet and new energy vehicle platforms such as Bubble Net, Autohome, and Ideal Automobile.

Both are geniuses who started their own businesses after graduating from high school, and both are geeks with a high pursuit of technology and products.

The earliest intersection between Wang Xing and Li Xiang was on Bubble Net. Li Xiang arrived in Beijing from Shijiazhuang and officially began the commercial operation of Bubble Net.

Wang Xing, on the other hand, was one of the first users and contributors of Bubble Net. He had previously published many articles and comments on IT products under the pen name "Xiaoqiang" on Bubble Net.The two quickly became friends due to their shared love and insights into IT products.

Later, the two of them embarked on different entrepreneurial paths. Wang Xing has successively founded the campus website and Meituan, becoming the leader of China's most successful social e-commerce platform.

Li Xiang founded Autohome, becoming the largest automotive vertical website in China and successfully listed in the United States.Although they parted ways, they still maintained contact and friendship.

At that time, Li wanted to step down as the CEO of Autohome and began his third venture - Ideal Automobile. Ideal Car is a luxury intelligent electric vehicle brand with the mission of creating a mobile home and a happy home.

Li Xiang believes that electric vehicles are the future trend, and extended range electric technology is the most suitable solution for the Chinese market and user needs.

He hopes to create a high-quality electric vehicle that can meet the needs of Chinese users for space, comfort, intelligence, safety, and other aspects.

At that time, the Ideal Car was still in its early stages and required significant financial support.

Wang Xing happened to have rich investment experience and a keen business acumen. He was interested in Li Xiang's entrepreneurial passion and the prospect of ideal cars, and decided to provide support.

Wang Xing participated in the Ideal Automobile A-round financing as an individual and became its largest external shareholder. Afterwards, Wang Xing participated in multiple rounds of financing for Ideal Automobile, including B-round, C-round, and D-round financing, with a cumulative cash investment of over 7 billion yuan.

Wang Xing is not only an investor in Ideal Automobile, but also a non-executive director, providing strategic guidance and resource support.

Wang Xing's investment was not smooth sailing. Ideal Automobile also encountered many difficulties and challenges in its entrepreneurial process.For example, when Ideal ONE, the first product of Ideal Automobile, was released, it faced many doubts and ridicule.

Some people believe that the Ideal ONE is a "pseudo electric vehicle", and extended range electric technology is an "outdated" technology that cannot be compared to pure electric vehicles.

Some people also believe that the Ideal ONE is a "pseudo luxury car" with interior and configuration that cannot meet the standards of luxury brands, but is only inflated in price.

Li Xiang and Wang Xing were not affected by these negative voices and adhered to their entrepreneurial philosophy and product direction.

They believe that extended range electric technology is the most suitable solution for the Chinese market and user needs, which can effectively solve issues such as range anxiety and charging difficulties.

The facts have proven that Li Xiang and Wang Xing's judgment is correct. After starting mass production and delivery, Ideal ONE quickly gained recognition and love from the market and users.

Ideal ONE has achieved rapid growth with its excellent product strength and word-of-mouth effect. Later, Ideal Automobile successfully went public on NASDAQ in the United States, becoming the third new energy vehicle company to go public after Tesla and NIO.

Wang Xing's investment also received huge returns as a result. Wang Xing has cashed out tens of billions of profits by repeatedly reducing his holdings in Hong Kong and US stocks of Ideal Automobile.

And he is still the largest external shareholder of Ideal Automobile, with great potential for growth.In the second quarter of 2023, the total revenue of Ideal Automobile increased by 228.1% year-on-year, with a net profit exceeding 2.3 billion yuan. It can be said that Wang Xing's investment was a very successful one.

Wang Xing has a keen business acumen and forward-looking strategic vision, able to insight into the needs and trends of the market and users, and seize opportunities and trends.

He once created the miracle of Meituan in the field of social e-commerce, and also created the miracle of ideal cars in the field of new energy vehicles.Wang Xing can not only see the current hotspots and pain points, but also see the future direction and potential.

In addition, Wang Xing dares to invest in projects that are questioned and ridiculed by others, dares to stand out and take risks.

He once decisively chose to transform Meituan when facing difficulties on the campus website. When Meituan faced competition, he decisively chose to merge with Volkswagen Dianping. When Ideal Automobile was questioned, he decisively chose to continue to increase the price.He never easily gives up his judgments and choices, and never goes with the flow.

Wang Xing is not only an excellent investor, but also an excellent entrepreneur. He is able to effectively organize and manage the enterprises he founded or invested in, providing strategic guidance and resource support. Being able to make correct decisions and actions at critical moments, bringing breakthroughs and success to them.

epilogue

Wang Xing is a legendary figure in the investment industry, who has written one myth after another with his wisdom and actions. His investment in the ideal car is a prime example. Back then, he spent over 7 billion to Li Xiang, but now he has earned back tens of billions. What kind of surprises will Wang Xing bring us? Let's wait and see!

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