Economic Observer Network Gao Feichang/Text On September 25, a hard-core off-road vehicle that looked like the old Land Rover Defender was displayed at a new car launch conference in Beijing. This car comes from a new car brand-Ineos Automotive, and the model name is Ineos. Lux Grenadier.
INEOS Automotive is a little-known name in the automotive industry, but INEOS Group (INEOS) has a strong background. Ineos Group is a global diversified business group with petrochemicals as its main business. It has 36 business segments and 194 production bases in 29 countries around the world. Its business involves chemicals, polymers, oil and gas, construction and packaging, etc. Market applications include both consumer brands and sports.
The origin of Ineos Automobiles has something to do with the British off-road brand Land Rover. Rumor has it that Sir James Ratcliffe, chairman of INEOS Group, is an avid fan of the classic Land Rover Defender. When he learned of the discontinuation of Land Rover Defender in 2016, he tried to buy the assets of the Defender, but was rejected. He refused, so he resolutely turned to developing hardcore off-road vehicles himself.
The first car developed by Ineos Automotive, the Ineos Grenadier, is a 4X4 hardcore off-road vehicle with a square appearance. The center console of the vehicle is covered with mechanical buttons, and the rough mechanical style is clearly visible. The engine of the Ineos Grenadier is a 3.0T engine from BMW, and the transmission system is an 8AT transmission from ZF. The INEOS Grenadier offers users a number of personalization options, with accessories ranging from roof loads to heavy-duty protection hardware to repair kits.
The product shape replicates the classic shape of the Land Rover Defender. The supply of core parts relies on partners. The factory acquired the factory in Hambach, France from Mercedes-Benz Smart. This is how Ineos Automobiles broke into the automobile industry. industry, it has been about more than two years now.
Ineos Automotive, which entered the industry very late, cannot say how much of its own original automobile development experience it has. At this stage, its convincing advantage comes from the “halo” of the Ineos Group.
In recent years, INEOS Group has made a big move into consumer goods, creating the British fashion brand Belstaff, the home and personal care brand Hygienics, and INEOS cars, which form its consumer goods territory. In the field of sports, Ineos Grenadiers has its own cycling team and sailing team. Ineos Group is an important shareholder of the Mercedes-Benz-AMG Petronas F1 team, and also sponsors marathon world record holder Eliud Key. Puchorg.
Jim Ratcliffe himself is also quite prominent. He is a rich British man and the owner of the current Premier League football club Manchester United. According to Ineos Automotive, the name of the Ineos Grenadier is also because Jim Ratcliffe often visited a bar in London called the Grenadier.
Relying on the globalization pattern of the Ineos Group, Ineos Automotive has been deploying in the global market relatively quickly. Before coming to China, the Ineos Grenadier had been listed in more than 40 countries and regions. As a hardcore off-road vehicle, the Ineos Grenadier has now arrived in the Chinese market where hardcore off-road vehicles are becoming increasingly popular.
In recent years, domestic hard-core off-road vehicles represented by the Great Wall Tank have set off a new consumer trend in the Chinese market. The number of players entering the hardcore off-road field continues to increase, such as new faces such as 212 and Jishi Automobile, as well as BYD Yangwang and Dongfeng Mengshi, which are targeting the mid-to-high-end off-road market. The target of Ineos Grenadier is not new cars from Chinese brands, but traditional luxury hardcore off-road vehicles, such as Mercedes-Benz Big G, Land Rover Discovery, Jeep Wrangler, etc.
It is worth pointing out that hardcore off-roading is still a niche market. Industry statistics show that the total domestic hard-core off-road sales in 2023 will be about 250,000 units, accounting for only 1.1% of the overall passenger car sales, of which independent brands will take more than 70% of the share. Zhongyan Puhua Industrial Research Institute has predicted that by 2025, China’s general off-road vehicle market size will reach 894,000 units, of which the hard-core off-road vehicle market size will be 354,000 units.
Ineos Automotive, which is new to the market, attaches great importance to the Chinese market. Lynn Calder, global CEO of INEOS Automotive, said that in order to enter the Chinese market, INEOS Automotive has made careful preparations and invested resources for more than two years. Peng Mingshan, general manager of INEOS Automotive China, said that China is an important market under INEOS Automotive’s global layout and has established Asia’s first sales company in China.
The official retail price of the Ineos Grenadier in the Chinese market is 808,000 yuan to 908,000 yuan. The first batch of customers in China who order the car can achieve delivery at the end of October. In terms of services, INEOS Automotive’s sales and service centers in Beijing and Chengdu have officially opened, and the sales and service centers in Shanghai and Guangzhou will also be ready within four weeks. According to Ineos Automotive’s plan, after the Ineos Grenadier, a number of new cars will be launched, including new energy-powered models.
From brand awareness to car-making experience, Ineos Grenadier is a veritable “newcomer” in the automotive industry. It is worth observing how much success it can achieve in the luxury hardcore off-road market.
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