Jiyue, a Baidu-backed electric vehicle (EV) maker, is undergoing significant changes in its operations in response to current challenges. CEO Joe Xia recently announced four key priorities for the company, which include merging positions and cutting projects that do not contribute to immediate financial performance improvements.
In an internal letter obtained by CnEVPost, Xia acknowledged the difficulties that Jiyue is currently facing and emphasized the need for immediate adjustments. The company is entering a new phase, referred to as “2.0,” and the management is dedicated to collaborating with employees to overcome these challenges.
The four priorities outlined by Xia for Jiyue’s new phase are as follows: maintaining a focus on long-term investments in core technologies to stay ahead of the competition, enhancing sales and service capabilities to navigate the competitive market landscape, streamlining departments and positions with overlapping functions, and eliminating projects that do not yield immediate financial benefits.
Jiyue, formerly known as Jidu, was established as a joint venture between Geely and Baidu in March 2021. Following a rebranding effort in August 2023, the company launched its first model, the Jiyue 01, an all-electric mid to large-size SUV. Subsequently, the Jiyue 07 electric sedan was introduced in September 2024, followed by the unveiling of the Robo X electric supercar at the Guangzhou auto show in November 2024.
Despite these product launches, Jiyue faced a decline in vehicle deliveries in November, signaling the need for operational adjustments. Xia expressed the management’s readiness to tackle the upcoming challenges and emphasized the support of shareholders for the company’s future goals and plans.
Moving forward, Jiyue aims to enhance operational efficiency and management practices to align with the requirements of its new venture phase. The company is gearing up for a more competitive landscape and is committed to driving sustainable growth in the EV market.
Overall, Jiyue’s strategic realignment underscores its determination to navigate operational challenges and position itself for long-term success in the rapidly evolving EV industry. By prioritizing core technologies, sales capabilities, and operational efficiency, Jiyue is poised to strengthen its market position and drive sustainable growth in the electric vehicle market.
