AITO has ultimately let down the three giants of Changan Automobile, CATL, and Huawei.

According to relevant sales data, AITO's cumulative sales in October reached 10,056 units, a year-on-year increase of 150% and a month-on-month increase of 120%. While this seems promising, the monthly sales of its entire lineup are actually lower than the monthly sales of popular models from leading enterprises like BYD. Even its cumulative deliveries for the year are comparable to Li Auto's monthly sales.

Sales performance is one thing, but the financial report is another.

AITO has been incurring losses for years. According to official disclosures, AITO generated revenue of 28.34 million yuan in 2022 but incurred a net loss of 2.015 billion yuan. In 2023, revenue surged to 5.645 billion yuan, but the net loss also expanded to 3.693 billion yuan. In the first half of 2024, AITO's revenue reached 6.152 billion yuan, surpassing last year's annual revenue, yet it still failed to escape the loss dilemma.

These figures reveal that AITO has accumulated losses of 7.103 billion yuan over the past two and a half years, with a debt ratio of 94.46%. These data also tell us that even with a golden spoon, one is not omnipotent. A thriving ecosystem built on underlying technologies is the sharp sword in the hands of automakers. Brand development without a valuable ecosystem is soulless.

Fortunately, AITO has not stopped there. Here comes the newly upgraded AITO 11.

AITO 11 is the first product launched since the brand's inception and the last product to complement AITO's existing lineup based on extended-range technology.

On December 2, the new AITO 11 was officially launched, with five models available at official prices ranging from 279,900 to 429,900 yuan.

The entry-level model is priced 39,100 yuan higher than the previous model, while the extended-range version is priced 20,100 yuan lower than the original guidance price.

The exterior and interior designs remain largely unchanged, which we will set aside for now.

The AITO 11 extended-range version is equipped with a 1.5T engine as a range extender with a maximum power of 115kW. The drive motors each have a maximum power of 231KW. In terms of range, the CLTC combined range exceeds 1,000km.

The AITO 11 pure electric version offers a range of 815km, while the dual-motor version offers a range of 760km.

Overall, the product is decent.

Industry insiders have long suggested that AITO's adoption of extended-range technology may be the most effective way to address sales challenges. Zero Run, Landwind, and Chery have all achieved significant sales growth by introducing extended-range products.

While this may be true, the question is, can AITO 11 really compete in the visible extended-range bonus market?

Conclusion

Today, the higher AITO aims, the smaller its heart seems. In my opinion, in the fiercely competitive new energy vehicle market, style and premium positioning should be set aside for now. What truly matters are solid product quality and reasonable pricing. Surviving and selling cars are the keys. Otherwise, one has to wonder: Is AITO a brand with three wealthy backers or one where everyone is equally powerless?