The Birth of Shanghai's First Conglomerate

As of now, Tengfei New Energy has been listed for almost five months.

Only two models were launched: the Tengfei P6, a family SUV, and the N6, a sedan designed for young people.

Of the two types of vehicles, the SUV clearly outsells the electric vehicle. The electric vehicle has obvious advantages: it accelerates quickly, is quiet, and offers a much better driving experience than a gasoline car.

The drawbacks are also obvious: it can't go too far.

Once you travel too far, charging on highways or in various other places isn't very convenient.

In very cold places, it can easily cause serious power loss.

Because he directly manages the after-sales department, Chen Pingsheng knows the products he produces inside and out.

It was mainly learned from the clients.

The customer is everything, and that's no joke.

Another major hidden danger of trams is that they are prone to catching fire after a collision or other accident.

Although no Tengfei New Energy vehicles have caught fire so far, this thing will happen once it does.

It's basically a disaster, and not a natural disaster but a man-made one.

Every vehicle returned for after-sales service undergoes a comprehensive quality inspection as well as a crash test.

To put it bluntly, he doesn't make money from the profits of selling cars at all. For him, the core has always been to build good cars and create a car that users can truly trust to use.

It was because of this original intention that he directly introduced a series of policies that no other company had.

For example, if any non-human-caused quality problem occurs within three months, it will be replaced directly without repair.

This alone puts them far ahead in the after-sales service sector.

The second clause states that the battery can be replaced every 60,000 kilometers.

The current battery technology from Tende can only last for 60,000 kilometers, but that doesn't mean it won't degrade within that distance.

Instead, the degree of loss is relatively limited, and the battery will retain approximately 70% of its capacity.

In other words, a car that could originally travel 300 kilometers on a full charge will only be able to travel 200 kilometers after 60,000 kilometers.

The battery is 70% worn out. If the user wants to replace the battery himself, the cost of the replacement will be more expensive than refueling.

If that's the case, why did he still buy a tram?
Is it really just to save a little bit of car purchase tax?
Chen Pingsheng organized his team to discuss the matter for a long time before finally formulating the policy of free battery replacement for 60,000 kilometers.

For a new energy vehicle, the battery cost is the most expensive component.

If we could offer a free replacement on top of the 60,000 km mark, users could easily and worry-free drive over 100,000 km.

This is actually considered a good car.

With continuous research and breakthroughs in battery technology, this number will definitely continue to grow in the future.

It even broke through from 100,000 kilometers to 150,000 or 200,000 kilometers.

A truly good car is one that can reach 300,000 kilometers without needing battery replacements or any repairs or malfunctions.

It's not too late to start thinking about making money when Tengfei New Energy truly becomes a top-tier car.

To be honest, he is so rich and doesn't need to worry about money that his competitors don't even dare to imitate the series of after-sales policies he has set.

He genuinely plans to allocate billions of yuan annually to absolutely guarantee customer rights in terms of after-sales service and user experience.

Those new car manufacturers that use other people's money to build cars wouldn't dare to play like this!

Not to mention that he also invests tens of billions of yuan in research and development every year.

Chen Pingsheng had done the math himself. He figured that if he put up 30 billion yuan to guarantee after-sales service, you would only have some minor dissatisfaction during the three years of use.

I can just give you a brand new one.

He spent three years building his reputation so that word spread from one to ten, from ten to a hundred, and from a hundred to ten thousand.

Even if Lei Jun's marketing is phenomenal, he can never surpass Tengfei New Energy.

To put it bluntly, selling cars is different from other things. Users are very cautious in their choices, focusing on car companies that can survive for ten or even twenty years.

That must be because they have an excellent customer reputation; that's what you call a solid foundation.

For example, Volkswagen in Germany, and Toyota and Honda in the everyday life.

In the mid-size car segment, these are brands you can buy without hesitation.

The same goes for Audi, BMW, and Mercedes-Benz. The reason they've become century-old car companies isn't because they advertise a lot.

Rather, it's because user word-of-mouth has accumulated to that extent that no matter how much you slander it, those who have driven it will prove it.

His most important task now is not to make money or to advertise all over the world, but to build the foundation that Tengfei New Energy has to offer, which is its reputation among users.

He has already stated that any quality issues within three months will result in a replacement, and any major non-human-caused quality issues within three years will also result in a replacement.

Offering a five-year warranty and three years of free maintenance is what makes a new car company like theirs appealing to customers.

It can only be said that all the pressure from the policies he set was placed on the senior management of Tengfei.

If Tengfei New Energy cannot achieve the quality of German Volkswagen, Japanese Toyota, or even the German Big Three (BMW, Mercedes-Benz, and Audi), it will never be able to make money.

Because if problems arise within three years, the after-sales costs will remain high.

There's not much profit to be made from selling cars, and research and development costs so much every year. If after-sales costs can't be reduced, making money is just a pipe dream.

Of course, no one dared to bring up the unethical topic of reducing after-sales costs to increase corporate profits.

Because that's directly managed by the big boss, and you're stubbornly trying to be a smart person by offering this kind of opinion.

Whether he drives it or not, you're doomed.

The only way to reduce after-sales costs is to ensure that Tengfei New Energy Vehicles do not need to be moved even a single screw within 60,000 kilometers.

If they can't do that, they can forget about making money from corporate profits.

Because it's impossible for it to happen.

It has to be said that his company has set a new standard for after-sales service in the entire industry.

One thing users may not know is that new energy vehicle manufacturers are actually very powerful because new energy vehicle manufacturing is a key national support project.

Locally, it is undoubtedly a key area of ​​support.

If a problem arises, you just need to see whether the local authorities will protect you as a user or the car company.

There are very few people who truly prioritize user experience like he does.

There are so few that out of a hundred, there are no more than two.

He doesn't need to manage other departments at all; he can control the quality and product strength of Tengfei New Energy solely through this one after-sales service department.

To date, Tengfei New Energy has not received any financing, nor has it accepted a single penny of local subsidies.

He didn't want to listen to others, nor did he need anyone to tell him how to make cars and make money.

In addition to Yan Donghui, Zhang Qiming, Xu Dong, and Zhang Zhiyao each receiving 5% of the original dividend shares of Tengfei New Energy.

All the core engineers and the technical leaders of the key sub-categories have received bonus shares from Tengfei.

Don't think that 5% may not seem like much. You should know that he has already invested a total of 1400 billion yuan in Tengfei New Energy Vehicle Manufacturing.

Even without considering the increase in value after its listing, just based on the investment ratio, 5% is worth 70 billion.

Which emerging electric vehicle manufacturer would dare to reward one of its senior executives with 7 billion yuan worth of original equity?

Not to mention that he also gave up a full 49% of the shares to incentivize these R&D leaders to work tirelessly to build better cars.

Once they can survive until Tengfei New Energy goes public, all of them will be worth at least one billion yuan, and some will be worth tens of billions.

This is something that competitors simply cannot imitate.

Because no one else can do what he did: take out 200 billion yuan to manufacture cars and batteries.

They even gave away half of their shares.

This is the source of Chen Pingsheng's confidence in building good cars. He can spend 200 billion yuan to build cars in a down-to-earth manner, and he can also use half of his shares to bring tens of thousands of technical experts to follow him in his dream of building good cars.

Within three years, it will definitely become the number one brand among the emerging car manufacturers in China.

Not only did he not doubt this, but the others in Tengfei New Energy did not doubt it either.

If you're going to do something, you either don't do it at all, or you at least become number one in the country.

If they can't even be number one in the domestic market, then don't expect to compete with century-old car companies like Volkswagen, Toyota, Mercedes-Benz, and BMW after going global.

(New book: My spending randomly doubled after I just got my marriage certificate.) has been released.

(End of this chapter)