#211

Disruptor OEM Guide

CASE

EnablingCASESThe automotive industry has recently seen an influx of new brands, start-ups, and OEMs. While many perceive
Tesla to be at the forefront of this movement – having developed a range of vehicles, technologies, andservices in a short span of time – a growing ecosystem of new disruptive OEMs is seeking to change this. Manyare providing unique offerings, consumer-oriented features, and more affordable solutions in a bid to disrupt
the overall automotive landscape.

TABLE OF CONTENTS
Introduction
Executive Summary

As this ecosystem develops at an increasingly rapid pace, interest in its players is growing among investors andlegacy OEMs. Likewise, while these disruptive OEMs unveil new conceptual vehicles and announce new
production-intent models, they are also securing partnerships with companies spanning the automotive
landscape. These partnerships scaling from supplier agreements with small start-ups to acquisitions frommajor OEMs seeking to broaden the scope of their vehicle line-ups or enhance their current offerings.

Understanding the New Entrants
Appendix

This report thoroughly profiles new and emerging automakers from around the world and highlights thematurity of their technology, business models, and partnerships. It then identifies which ones have thegreatest potential to impact vehicle production and monetization in the future. The regional differences
between new and emerging OEMs from China, Europe, the U.S., and other regions are thoroughly assessed.

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#211/Disruptor OEM Guide

Key questions answered> Which new OEMs have thegreatest potential todisrupt how cars are madeor monetized?

> How mature are thetechnologies and businessmodels being developed bydisruptor OEMs?

> Which companies arepartnering with disruptor
OEMs?

> What regional differences areemerging between newOEMs from China, Europe,USA and other regions?

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New Companies inAutomotive Covered:17

Excel Tabs:

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March 2022

Disruptor OEM GuideReport Contents

Contents Page
Disruptor OEM Guide
Introduction ≫4

Executive Summary ≫8Understanding the new entrants≫

16▪ Apple19▪ Aptera

23▪ Faraday Future27▪ Fisker

31▪ Foxtron35▪ HiPhi

39▪ Huawei

43▪ Li Auto47▪ Lightyear

51▪ Lucid55▪ NIO59▪ Niutron

63▪ Rivian

67▪ Sony71▪ VinFast

75▪ Xiaomi

79▪ Xpeng

83

Appendix ≫87▪ Competency & Intent Criteria

88▪ Scoring methodology

89

Total number of pages - 90

Example slides
from the report

Executive Summary

Five key trends that are defining disruption in the automotive
Quick tomarket

Numerous
disruptors

Regional shift
in innovation

Ambiguous
ecosystem

Changing
expectations

0102

03

04

05

Product time to market
Shifting from long to short# of disruptorsGrowing from one to many

Regional push
Many Asian-led OEMs

New entrant roleLess clarity in the ecosystem

Competitive offering
New mainstream player offer
innovative unique features

New entrants do not have the burden of protecting legacy
architecture, giving them a blank page start to create
skateboard platforms. EV only focus together with limited
platform gives them advantage to evolve and adapt quickly tomarket competition

Close to 100,000
sales in 3-4 years

With changing automotive and mobility landscape, OEMs arebeing challenged by multiple new entrants such as tech giants,manufacturing giants and start-up OEMs, pushing them tocompete against multiple dimensions

8 new players
established in last
5 years

Over 50% of new entrants identified are Asian players who arelikely to initially focus on specific market and specific vehicle
segment. Over time some of these players could potentiallyexpand to different regions

10 out 17 newentrants are Asia
based

As the ecosystem evolves, deep pocketed firms like Huawei,
Xiaomi, Foxconn and Sony are eager to become OEMs as wellas suppliers focusing across the value chain. This pushes
established OEMs to compete as well as work together withsome competitors

4 tech-giants
eager to become
an OEM

New mainstream OEMs are being fast to bring newexperiences and technologies, changing expectations andmaking them as attractive as premium cars

Xpeng P5 is techoriented
mainstream EV88

Understanding the new entrants ⅼ Faraday Future – Overview

AppleAptera

Faraday Future

FiskerFoxtron

HiPhi

Huawei

Li AutoLightyear

LucidNIO

Niutron

RivianSony

Current level of disruption

VinFastXiaomi

Xpeng

Capabilities
LowMediumHigh

Manufacturing

Supply chainFinancial stability

Retail network

Brand

SoftwareAutomotive milestones

99Understanding the new entrants ⅼ Faraday Future – Disruptions

AppleAptera

Faraday Future

FiskerFoxtron

What makes them unique?
•Faraday Future’s offering only includes electricvehicles but targeting multiple segments andmultiple use cases. The brand aims to offer Ultrapremium electric vehicles for personal use in 2022
as well as providing last mile delivery vehicles by
end of 2023.

•The brand seems to adopt different strategy for
their two main markets – USA manufacturing plantfor vehicle sales in USA while choosing to opt forcontract manufacturing for vehicle sales in SouthKorea.

HiPhi

Huawei

Li AutoLightyearLucidNIO

Niutron

RivianSony

VinFastXiaomiXpeng

A 27-inch screen drops down on the inside from thecenter of the roof, just behind the headrest of front
seats, providing a tv style screen for rear passengers

Seats with 60° recline with high comfort. Faraday
Future states it has the most leg room in its class

Newness

Platform between Faraday Future’s workforce andconsumers to work together and build better products.
Some members (called FPOs) are invited to exclusive
experiences with FF products and provide feedback on
not launched products.

Faraday Future has a patented battery design with allmajor battery components submerged in coolant,
improving battery safety, extending life and increasingenergy density

Wowness⬤ Experience⬤ Technology⬤ Business Model

Note: Only the 4 most relevant disruptions shown. For a full list,
10
please access the accompanying Excel document.
10Understanding the new entrants ⅼLucid – Overview

AppleFisker

ApteraFaraday Future

Foxtron

HiPhi

HuaweiLi AutoLightyear

LucidNIO

Niutron

RivianSony

Current level of disruption

VinFastXiaomi

Xpeng

Capabilities
LowMediumHigh

Manufacturing

Supply chain

Financial stability

Retail network

Brand

SoftwareAutomotive milestones

1111

Understanding the new entrants ⅼ

Lucid – Disruptions

AppleFisker

ApteraFaraday Future

FoxtronWhat makes them unique?
•Lucid’s background as battery manufacturer for Eracing together with their partnerships on battery
development, is likely to enable them to provide astrong offering especially with regards to battery
range. The Lucid Air model offers a range of 520
miles per battery charge.

•The brand places a strong emphasis on technology,
enabling its vision to deliver on luxury electricvehicles offering intuitive user experience.

HiPhi

Huawei

Li AutoLightyear

LucidNIO

Niutron

RivianSony

VinFastXiaomi

Xpeng

Able to charge up to 300 miles of range in about 20
minutes (When connected to DC fast chargers)

Lucid plans to distribute directly to consumers

Newness

With 900V+ architecture, it’s the fastest EV charging
system available

Wowness⬤ Experience⬤ Technology⬤ Business Model

Note: Only the 4 most relevant disruptions shown. For a full list,
12
please access the accompanying Excel document.
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