On the afternoon of August 22, Wang Xing, CEO of meituan, talked about the reasons for investing in the ideal car: Li Xiang, the founder of ideal automobile, is also a very potential entrepreneur. They have good products and the electric vehicle market is very large. For long-term consideration, meituan hopes to participate in the electric vehicle industry revolution.

Credit Suisse analyst Kenneth Fong: thank the management for accepting my questions and congratulations on the strong performance. Recently, meituan invested in the ideal car. Of course, we also understand the future potential of electric vehicles. However, given that there are no significant synergies, can management share the motivation to invest?

Wang Xing: let me explain this. First of all, let me explain why we think the ideal car is worth investing in. Then I’ll explain how the investment helped meituan. First of all, investors know that electric vehicles have great potential. However, I think many investors still underestimate the potential of electric cars and ideal cars. It’s like a lot of people didn’t really see Tesla’s potential a year or a few years ago. Therefore, I believe that the ideal car is worth investing in because the market is huge. Moreover, Li Xiang, the founder of ideal automobile, is also a very potential entrepreneur. They have good products. They focus on one product, the ideal one. I drive this car every day and I like it very much. This is an excellent project and I believe it will be a great success next year. In addition, I think many people underestimate the founder Li Xiang. I believe that in the future, he will become the top entrepreneur in China, and he has never been to university. His ideas are different. He is a visionary entrepreneur and down-to-earth entrepreneur. In short, I believe that ideal car will be a successful company, so I am also optimistic about this investment.

so, what are the benefits of this investment for meituan? There are two key words. First, moving; second, long-term. We’ve been repeating the word long term, and we’re more focused on the long term. Here, we are talking about the long-term, not a few quarters, not a year or two years, but at least five years, ten years or more. Therefore, I can understand that not every investor can accompany us for such a long time. But that’s how we run this company. Then, the ideal car is developing autonomous driving technology, as well as innovative human vehicle interaction, including voice control. These aspects will have synergy effect with meituan’s business in the future. But not now, not next quarter, maybe not next year. But in the long run, their work will have synergy with our business.

move back. Meituan’s mission is to help people eat better and live better. But actually, we don’t produce food, we don’t make food, we just distribute food. So, in essence, meituan is a mobile company. So, vehicles are very important to us. Now we are in a critical period, from traditional internal combustion engine to intelligent electric vehicle. In the future, electric vehicles will be a major trend, changing every industry. The future will be electric vehicles, and we hope to participate in it. So we chose to invest in the ideal car without hesitation. I hope you can understand that we are making this investment. Global Tech

By ibmwl