车型概览

Audi TT 值不值得买，关键不是它看起来有多吸引，而是它能不能解决你的真实用车需求。这篇文章会把重点放在它是否容易融入日常生活。

版本方面，Audi TT 目前可围绕 2025 Standard 来比较。

购车价格指南

评估 Audi TT 的购车预算时，建议先从版本定位和后续拥车成本下手。价格不是唯一重点，真正决定是否划算的是每天会不会用到那些配置。

如果你在几个版本之间犹豫，可以把 2025 Standard 放在同一张清单里比较。日常通勤买家优先看舒适与安全，常跑高速的买家则更应重视动力、辅助驾驶和座舱便利。

核心参数汇总

看 Audi TT 的核心规格，最重要是把数字翻译成生活里的感受。

Audi TT 的核心价值应回到日常场景判断：你要它负责通勤、家庭出行、长途，还是作为更有个性的选择。

优缺点分析

Audi TT 的优点不必夸张，真正有价值的是它能不能让日常使用更省心：车型定位清楚，适合先作为同级比较对象。

需要留意的是，最终取舍会落在版本配置、保险和长期保养成本。这些不是扣分项，而是下订前应该先想清楚的生活细节。

购车常见问题解答

购买 Audi TT 前，买家最常问的不是单一规格，而是它能不能融入自己的生活。

这辆车适合谁？适合把它是否容易融入日常生活放在首位的买家。 家庭用户要看什么？优先看后排乘坐、儿童座椅、行李和日常上下车是否顺手。 每天开会不会麻烦？如果能源成本、停车便利和版本配置都符合你的生活节奏，它会比较容易相处。

竞品对比内容

把 Audi TT 放进同级车名单时，不建议只看品牌或外形。真正有用的比较顺序是：先从版本定位、品牌售后和日常用途开始比较。

这样筛选出来的结果更贴近日常生活。你会更清楚它是适合城市通勤、家庭代步、长途巡航，还是更适合作为一辆讲求个性的选择。

用车全周期指南

拥有 Audi TT 的重点，是确认保险、路税、保养和轮胎成本都在可接受范围内。买车不是一次付款结束，而是每天都要相处。

如果你常跑南北大道，动力和座舱舒适度会比单纯低价更重要；如果主要在市区，停车灵活性、视野和低速顺滑度会更影响心情。

车型概览

Audi S5 值不值得买，关键不是它看起来有多吸引，而是它能不能解决你的真实用车需求。这篇文章会把重点放在它是否容易融入日常生活。

版本方面，Audi S5 目前可围绕 2025 Standard 来比较。

购车价格指南

评估 Audi S5 的购车预算时，建议先从版本定位和后续拥车成本下手。价格不是唯一重点，真正决定是否划算的是每天会不会用到那些配置。

如果你在几个版本之间犹豫，可以把 2025 Standard 放在同一张清单里比较。日常通勤买家优先看舒适与安全，常跑高速的买家则更应重视动力、辅助驾驶和座舱便利。

核心参数汇总

看 Audi S5 的核心规格，最重要是把数字翻译成生活里的感受。

Audi S5 的核心价值应回到日常场景判断：你要它负责通勤、家庭出行、长途，还是作为更有个性的选择。

优缺点分析

Audi S5 的优点不必夸张，真正有价值的是它能不能让日常使用更省心：车型定位清楚，适合先作为同级比较对象。

需要留意的是，最终取舍会落在版本配置、保险和长期保养成本。这些不是扣分项，而是下订前应该先想清楚的生活细节。

购车常见问题解答

购买 Audi S5 前，买家最常问的不是单一规格，而是它能不能融入自己的生活。

这辆车适合谁？适合把它是否容易融入日常生活放在首位的买家。 家庭用户要看什么？优先看后排乘坐、儿童座椅、行李和日常上下车是否顺手。 每天开会不会麻烦？如果能源成本、停车便利和版本配置都符合你的生活节奏，它会比较容易相处。

竞品对比内容

把 Audi S5 放进同级车名单时，不建议只看品牌或外形。真正有用的比较顺序是：先从版本定位、品牌售后和日常用途开始比较。

这样筛选出来的结果更贴近日常生活。你会更清楚它是适合城市通勤、家庭代步、长途巡航，还是更适合作为一辆讲求个性的选择。

用车全周期指南

拥有 Audi S5 的重点，是确认保险、路税、保养和轮胎成本都在可接受范围内。买车不是一次付款结束，而是每天都要相处。

如果你常跑南北大道，动力和座舱舒适度会比单纯低价更重要；如果主要在市区，停车灵活性、视野和低速顺滑度会更影响心情。

Pengarang | Janson

Penyunting | Zh Hao

Memperoleh pembiayaan 3 bilion Yuan dalam tempoh tiga tahun, sebuah lagi syarikat kenderaan tanpa pemandu di perlombongan akan mendaftar di Bursa Saham Hong Kong.

Che Dong Xi melaporkan pada 25 Jun, hari ini, Syarikat Teknologi Pengendalian Mudah Pintar (di bawah ini dirujuk sebagai "YiKong ZhiJia") telah memperbaharui set dokumen selepas pendengaran di Bursa Saham Hong Kong, yang bermaksud syarikat penyelesaian kenderaan tanpa pemandu di kawasan perlombongan ini telah meluluskan pendengaran Bursa Saham Hong Kong, lebih dekat untuk mendaftar saham di Hong Kong.

▲ Set dokumen YiKong ZhiJia selepas pendengaran

YiKong ZhiJia ditubuhkan pada tahun 2018, berfokus pada komersialisasi penyelesaian kenderaan tanpa pemandu di kawasan perlombongan perlombongan, perniagaan utama termasuk produk dan penyelesaian lori perlombongan tanpa pemandu persekitaran tertutup "Zhu Shan", serta penyelesaian digitalisasi kawasan perlombongan "Mu Ye".

Sehingga 31 Disember 2025, YiKong ZhiJia telah melancarkan 2580 unit lori perlombongan tanpa pemandu yang aktif. Dalam kawasan perlombongan tunggal di mana penyelesaiannya beroperasi, saiz armada lori perlombongan tanpa pemandu telah melebihi 500 unit, menjadi armada lori perlombongan tanpa pemandu terbesar yang dipasang di kawasan perlombongan tunggal di seluruh dunia.

▲ Perniagaan utama YiKong ZhiJia

Dari segi data kewangan, YiKong ZhiJia mencatatkan pendapatan 1.435 bilion Yuan pada tahun 2025, meningkat 45.5% berbanding tahun sebelumnya, meningkat kira-kira 4.3 kali ganda berbanding 2.71 bilion Yuan pada tahun 2023.

Walau bagaimanapun, YiKong ZhiJia masih dalam keadaan rugi selama tiga tahun kebelakangan ini, kerugian bersih bagi tahun 2023, 2024 dan 2025 masing-masing adalah 334 juta Yuan, 390 juta Yuan dan 516 juta Yuan, jumlah kerugian terkumpul selama tiga tahun adalah kira-kira 1.239 bilion Yuan. Kos kerugian bersih yang diselaraskan bagi tempoh yang sama masing-masing adalah 284 juta Yuan, 303 juta Yuan dan 484 juta Yuan.

▲ Ringkasan要点 kewangan YiKong ZhiJia

Secara keseluruhan, YiKong ZhiJia telah beralih daripada peringkat pengesahan awal kenderaan tanpa pemandu di kawasan perlombongan, masuk ke peringkat penyebaran berskala ratusan hingga beratus-ratus unit.

Namun, di luar pengembangan pantas, bagaimana untuk memperbaiki aliran tunai secara berterusan, meningkatkan margin kasar dan menuju kepada keuntungan, masih merupakan masalah teras yang perlu dijawab setelah ia disenaraikan.

I. Pendapatan 1.435 bilion Yuan pada 2025, margin kasar meningkat kepada 10.1%

Set dokumen selepas pendengaran menunjukkan bahawa bagi tahun 2023, 2024 dan 2025, pendapatan YiKong ZhiJia masing-masing adalah 2.71 bilion Yuan, 986 juta Yuan dan 1.435 bilion Yuan.

Antara itu, pendapatan YiKong ZhiJia pada tahun 2024 meningkat 264.0% secara tahunan, pada tahun 2025 meningkat 45.5% secara tahunan, skala pendapatan terus berkembang.

▲ Maklumat kewangan utama YiKong ZhiJia

Dari struktur pendapatan, produk dan penyelesaian lori perlombongan tanpa pemandu persekitaran tertutup adalah perniagaan utama YiKong ZhiJia.

Pada tahun 2025, pendapatan produk dan penyelesaian lori perlombongan tanpa pemandu persekitaran tertutup YiKong ZhiJia adalah 1.428 bilion Yuan, mencapai 99.5% daripada jumlah pendapatan. Di antara itu, pendapatan model armada yang disediakan pelanggan adalah 815 juta Yuan, mewakili 56.8%; pendapatan model armada yang disediakan syarikat adalah 613 juta Yuan, mewakili 42.7%.

▲ Konstituen pendapatan YiKong ZhiJia

Dari perubahan model perniagaan, YiKong ZhiJia sedang beralih daripada model armada yang disediakan syarikat yang lebih berat dengan kos modal, ke model armada yang disediakan pelanggan yang lebih ringan aset.

Di bawah model armada yang disediakan pelanggan, pelanggan membeli atau menyewa lori perlombongan, YiKong ZhiJia terutamanya menyediakan teknologi tanpa pemandu, sokongan perisian dan perkhidmatan berkaitan; di bawah model armada yang disediakan syarikat, YiKong ZhiJia perlu menyediakan kenderaan dan perkhidmatan kitaran hayat penuh, menanggung lebih banyak tanggungjawab pengurusan kenderaan, penyelenggaraan dan pembaikan.

Perubahan ini juga membawa kepada peningkatan margin kasar.

Pada tahun 2023, YiKong ZhiJia mencatat kerugian kasar 50.46 juta Yuan, kadar kerugian kasar adalah 18.6%; pada tahun 2024 merekodkan keuntungan kasar 74.71 juta Yuan, margin kasar kembali positif ke 7.6%; pada tahun 2025 keuntungan kasar terus berkembang ke 145 juta Yuan, margin kasar meningkat ke 10.1%.

▲ Keuntungan kasar YiKong ZhiJia

Di antara itu, margin kasar model armada yang disediakan pelanggan jelas lebih tinggi. Pada tahun 2025, margin kasar model ini mencapai 16.0%; margin kasar model armada yang disediakan syarikat pada tempoh yang sama hanya 1.5%.

Dari segi kerugian, bagi tahun 2023, 2024 dan 2025, kerugian bersih YiKong ZhiJia masing-masing adalah 334 juta Yuan, 390 juta Yuan dan 516 juta Yuan; kerugian bersih yang disesuaikan bagi tempoh yang sama masing-masing adalah 284 juta Yuan, 303 juta Yuan dan 484 juta Yuan. Kerugian bersih yang disesuaikan bagi tempoh yang sama masing-masing adalah 284 juta Yuan, 303 juta Yuan dan 484 juta Yuan.

Dari segi aliran tunai, arus tunai bersih operasi YiKong ZhiJia pada tahun 2025 adalah 394 juta Yuan, lebih kecil berbanding 713 juta Yuan yang negatif pada tahun 2024, tetapi belum mencapai pengaliran tunai operasi yang positif.

Dari segi pelaburan penyelidikan dan pembangunan, bagi tahun 2023, 2024 dan 2025, perbelanjaan penyelidikan dan pembangunan YiKong ZhiJia masing-masing adalah 177 juta Yuan, 208 juta Yuan dan 271 juta Yuan; kerana pendapatan meningkat, nisbah perbelanjaan penyelidikan dan pembangunan terhadap pendapatan menurun dari 65.4% pada tahun 2023 kepada 18.8% pada tahun 2025.

II. 2580 unit lori perlombongan aktif, lebih daripada 500 unit dipasang di setiap lombong

Dari segi kemajuan komersial, YiKong ZhiJia telah masuk ke peringkat penyebaran berskala kenderaan tanpa pemandu di kawasan perlombongan.

Sehingga 31 Disember 2025, YiKong ZhiJia telah melancarkan 2580 unit lori perlombongan tanpa pemandu yang aktif.

▲ Situasi lori perlombongan YiKong ZhiJia tanpa pemandu

Dari segi penembusan lombong arang batu terbuka berskala besar, sehingga akhir 2025, penyelesaian YiKong ZhiJia telah dipasang di 19 daripada 41 lombong arang batu terbuka yang mempunyai kapasiti pengesahan tahunan melebihi 10 juta tan di China, dan 7 daripada 12 lombong arang batu terbuka terbesar yang dikira berdasarkan kapasiti pengesahan tahunan.

Berdasarkan pendapatan 2025, YiKong ZhiJia menduduki tempat pertama dalam pasaran penyelesaian pemanduan pintar kenderaan niaga di China, bahagian pasaran kira-kira 10.2%.

▲ Kedudukan industri YiKong ZhiJia (berdasarkan pendapatan)

Dalam pasaran penyelesaian kenderaan tanpa pemandu di kawasan perlombongan China, bahagian pasaran kira-kira 37.6% berdasarkan pendapatan, bahagian pasaran mencapai 55.5% berdasarkan bilangan unit lori perlombongan tanpa pemandu yang aktif, juga menduduki tempat pertama.

▲ Kedudukan industri YiKong ZhiJia (berdasarkan kenderaan)

Yang lebih penting untuk diperhatikan ialah kenderaan tanpa pemandu di kawasan perlombongan telah bergerak dari ujian tunggal unit dan armada kecil, masuk ke peringkat penyebaran berskala ratusan unit sehingga beratus-ratus unit di setiap lombong.

Sehingga 31 Disember 2025, di seluruh negara terdapat 11 projek kenderaan tanpa pemandu di kawasan perlombongan di mana setiap lombong mempunyai lebih daripada 100 unit lori perlombongan tanpa pemandu, di mana 9 daripadanya telah melancarkan penyelesaian YiKong ZhiJia.

Dalam kawasan perlombongan tunggal di mana penyelesaian YiKong ZhiJia beroperasi, armada lori perlombongan tanpa pemandu yang dilancarkan telah melebihi 500 unit, menjadi armada lori perlombongan tanpa pemandu terbesar yang dipasang di kawasan perlombongan tunggal di seluruh dunia.

Dari segi pelanggan, YiKong ZhiJia terutamanya melayani syarikat perlombongan dan kontraktornya. Pada tahun 2023, 2024 dan 2025, YiKong ZhiJia masing-masing melayani 13, 24 dan 52 pelanggan, dan semua kumpulan pelanggan akhir dalam tiga tahun ini mengekalkan kadar pengekalan 100%.

Pelanggan dan rakan kongsnya termasuk kumpulan perlombongan dan industri besar seperti Kumpulan Tenaga Negara, Zijin Mining, Shougang Group, Baowu Group.

Walau bagaimanapun, kepekatan pelanggan YiKong ZhiJia masih tinggi.

▲ Konstituen lima pelanggan utama YiKong ZhiJia

Pada tahun 2023, 2024 dan 2025, pendapatan YiKong ZhiJia daripada lima pelanggan utama masing-masing adalah 256 juta Yuan, 825 juta Yuan dan 950 juta Yuan, mewakili 94.4%, 83.7% dan 66.3% daripada jumlah pendapatan. Pada tempoh yang sama, nisbah pendapatan pelanggan terbesar masing-masing adalah 41.7%, 54.5% dan 35.7%.

Bisa dilihat, walaupun kepekatan pelanggan YiKong ZhiJia sedang menurun, pendapatannya masih bergantung pada pelanggan perlombongan utama dan projek besar.

III. Produk "Zhu Shan + Mu Ye" dua barisan produk, menyokong lebih daripada 70 model kenderaan

Dari struktur perniagaan, YiKong ZhiJia terutamanya mempunyai dua penyelesaian teras: produk dan penyelesaian lori perlombongan tanpa pemandu persekitaran tertutup "Zhu Shan", serta penyelesaian digitalisasi kawasan perlombongan "Mu Ye".

▲ Dua penyelesaian YiKong ZhiJia

Antara itu, "Zhu Shan" adalah perniagaan teras semasa YiKong ZhiJia, terutamanya bertujuan ke tapak perlombongan terbuka berskala besar, memberikan kemampuan sistem tanpa pemandu lori perlombongan, bantuan memandu jauh, pengurusan laluan tanpa pemandu, sokongan teknikal jauh, kemas kini perisian berterusan dan sebagainya kepada lori perlombongan.

▲ Penyelesaian "Zhu Shan" YiKong ZhiJia

Mengikut milik aset armada dan kandungan perkhidmatan yang berbeza, "Zhu Shan" dibahagikan kepada model armada yang disediakan pelanggan dan model armada yang disediakan syarikat.

Di bawah model armada yang disediakan pelanggan, YiKong ZhiJia terutamanya menyediakan produk perisian dan keras serta perkhidmatan teknikal; di bawah model armada yang disediakan syarikat, YiKong ZhiJia juga perlu menyediakan lori perlombongan tanpa pemandu, dan bertanggungjawab terhadap perkhidmatan kitaran hayat penuh seperti penyelenggaraan harian dan pembaikan kenderaan.

"Mu Ye" adalah penyelesaian digitalisasi kawasan perlombongan, terutamanya meningkatkan kecekalan operasi pengeluaran kawasan perlombongan melalui analisis data, integrasi IoT dan teknologi pemantauan masa nyata, meliputi pengurusan armada pintar, penyelenggaraan ramalan dan lain-lain.

Dari segi teknologi, YiKong ZhiJia menekankan keupayaan penyelidikan dan pembangunan stesen penuh sendiri, sistemnya boleh menyokong adaptasi lebih daripada 70 model kenderaan, dan boleh melengkapkan pemasangan tapak perlombongan baharu dalam tempoh tiga hari.

Sehingga 2025, pasukan penyelidikan dan pembangunan YiKong ZhiJia melebihi 400 orang, telah mempunyai 242 paten China terkumpul dan 43 permohonan PCT.

Prospektus juga menyebut bahawa YiKong ZhiJia telah terlibat dalam penyusunan 17 piawaian negara dan industri, dan mengetuai kumpulan kerja standardisasi kenderaan tanpa pemandu lombong arang batu terbuka.

IV. 3 tahun melengkapkan lebih daripada 3 bilion Yuan pembiayaan, CATL, Zijin Mining dan lain-lain adalah pemegang saham

Dari segi pembiayaan, set dokumen selepas pendengaran menunjukkan bahawa YiKong ZhiJia telah melengkapkan beberapa pusingan pembiayaan sebelum disenaraikan, pelabur termasuk Minxi Xinghang, Shanghai Chentao, Zijin Mining, Sto Capital, Nio Capital, Xihe Investment, Wuxi Xingqi, Zhengzhou Gaoxin Fund, Puquan Fund, CATL, Yankuang Capital, Tonli Shares, Desay SV, Gaocheng Capital dan Hongyee Investment.

Dari segi aliran tunai pembiayaan, bagi tahun 2023, 2024 dan 2025, jumlah tunai bersih aktiviti pembiayaan YiKong ZhiJia masing-masing adalah RMB 579 juta, 1.165 bilion Yuan dan 1.323 bilion Yuan, tiga tahun jumlah aliran tunai bersih aktiviti pembiayaan adalah kira-kira 3.066 bilion Yuan.

▲ Bagian ekuiti YiKong ZhiJia sebelum senarai

Dari segi struktur ekuiti, sebelum senarai, Lanshui Sheng, Zhang Lei, Liu Dongmei, Jiaxing Zhitao, Ningbo Yuying dan Ningbo Zhongying bersama-sama membentuk sekumpulan pemegang saham terkawal, secara kolektif memegang 42.75% ekuiti YiKong ZhiJia.

Antara itu, Lanshui Sheng adalah Pengerusi Bersama, Pengerusi Eksekutif, Pengurus Besar dan Pegawai Eksekutif Utama YiKong ZhiJia; Zhang Lei adalah Pengerusi, Pengerusi Eksekutif.

Lanshui Sheng telah多次 berusahawan, berfokus pada aplikasi komersial teknologi kenderaan tanpa pemandu kawasan perlombongan, dan terlibat dalam pelbagai peringkat perkembangan YiKong ZhiJia.

▲ Pengerusi dan Ketua Pengasas YiKong ZhiJia Zhang Lei

Pengerusi dan Ketua Pengasas Zhang Lei mempunyai pengalaman penyelidikan dan pembangunan kenderaan tanpa pemandu lebih daripada 10 tahun, secara konsisten terlibat dalam kerja kenderaan tanpa pemandu kawasan perlombongan dan platform kenderaan niaga.

▲ Taburan ekuiti YiKong ZhiJia sebelum senarai

Dari segi struktur ekuiti,由于 struktur modal YiKong ZhiJia akan berubah selepas penerbitan, nisbah pegangan pemegang saham terkawal seperti Lanshui Sheng dan Zhang Lei akan dicairkan secara sepadan.

Maklumat menunjukkan bahawa YiKong ZhiJia merancang untuk menggunakan dana yang dikumpul semasa senarai untuk tujuan penyelidikan perisian, penyelidikan keras, pembangunan teknologi maklumat, pengembangan perniagaan luar negara, pembangunan bakat, pelaburan strategik dan modal operasi.

Di samping itu, pasaran luar negara juga adalah salah satu arah utama masa depan YiKong ZhiJia.

YiKong ZhiJia telah menubuhkan anak syarikat di Australia dan Singapura pada tahun 2023, dan telah membina kerjasama dengan perkhidmatan perlombongan luar negara seperti Thiess, MACA, dan pada masa hadapan merancang untuk mengembangkan pasaran perlombongan di Australia, Kanada, Chile, Mongolia, Timur Tengah dan Afrika.

Penutup: Kenderaan tanpa pemandu kawasan perlombongan memasuki persaingan berskala

Dari segi latar belakang industri, kenderaan tanpa pemandu kawasan perlombongan telah menjadi salah satu senario yang lebih cepat dalam落地 komersialisasi teknologi kenderaan tanpa pemandu.

Kawasan perlombongan terbuka mempunyai ciri-ciri seperti laluan yang relatif tetap, persekitaran operasi yang tertutup, kekuatan pengangkutan yang tinggi, dan risiko keselamatan yang tinggi, yang juga memberikan nilai komersial yang lebih jelas kepada lori perlombongan tanpa pemandu.

Menurut data Frost & Sullivan, pasaran penyelesaian kenderaan tanpa pemandu di kawasan perlombongan China sedang masuk ke peringkat pengembangan berskala yang cepat, kadar penembusan lori perlombongan tanpa pemandu dijangka akan meningkat dari kira-kira 12% pada 2025 kepada lebih daripada 50% pada 2030.

Bagi YiKong ZhiJia, lulus pendengaran Bursa Saham Hong Kong bermaksud ia memasuki bahagian modal yang baru.

Di satu pihak, YiKong ZhiJia telah mengambil skala pemasangan yang unggul dalam industri, dan telah mengesahkan keupayaan落地 berskala dalam projek lebih daripada 100 unit per lombong, lebih daripada 500 unit.

Di satu pihak lagi, YiKong ZhiJia masih menghadapi cabaran seperti kerugian berterusan, pengaliran tunai operasi belum positif, kepekatan pelanggan yang tinggi.

Pada masa hadapan, sama ada YiKong ZhiJia boleh secara serentak mengembangkan skala pemasangan, terus meningkatkan nisbah pendapatan model aset ringan, memperbaiki margin kasar dan pengaliran tunai, akan menjadi tumpuan yang diperhatikan oleh luar.

Recently, Bloomberg NEF released the "2026 Electric Vehicle Outlook" industry report. Under the baseline scenario, it drastically cut the prediction for the share of new EV sales in the US by 2030 from 48% to 17%. This is the second consecutive year the prediction has been lowered, with expectations reduced by nearly two-thirds over the past two years.

At the same time, the China Passenger Car Association revealed May retail data: New energy passenger vehicle penetration has reached 62.9%, with no fuel vehicles among the top 15 models.

One side is downgrading long-term forecasts, while the other is shattering penetration records. The world's two largest automotive markets have taken completely opposite paths in the same wave of electrification.

The divergence behind this lies not in technological gaps, nor policy strength, but in the underlying structure of the industrial ecosystem.

01. On the US Side: Electrification Stalls When Funding Cuts Off

Since September 2025, following the official termination of the $7,500 federal tax credit, the US EV market bled out on the spot.

In Q1 2026, US new energy vehicle sales plummeted 28% year-on-year, the worst in five years. April was even more exaggerated; pure electric sales were only 64,500 units, down 46.7% year-on-year. According to BNEF statistics: at least 27 EV models were cut, delayed, or canceled in the past year. Stellantis, Ford, GM, and Honda combined EV business losses exceeded $64 billion.

This isn't a problem just a few companies can't handle; the entire new energy supply chain has collapsed.

Ford: In April 2026, it officially dissolved its standalone EV business unit, Model e. This division, which invested $30 billion heavily in 2021, accumulated losses of over $12.8 billion over five years, burning through $4.8 billion alone in 2025. The profits from Ford's traditional ICE business, Ford Blue, were almost entirely consumed by the EV business. The F-150 Lightning, once the "flagship of electric pickups," was stopped on the spot, along with a write-off of $19.5 billion in asset impairments. The next-gen F-150 shifts from a pure electric architecture to extended range, installing a gasoline generator to charge the battery, claiming a range of 700 miles. Ford CEO Jim Farley's exact words were "We want to meet customers where they are." Aku translates: If consumers don't buy pure EVs, we change direction. Three-row pure electric SUV projects were cut, commercial vans for Europe were cut, and the North American E-Transit was also switched to gasoline and hybrid versions. Jim also said a more intriguing remark: Now the real object of benchmarking and research is BYD.

GM: The Cadillac Ultium battery platform was internally classified as a "financial burden." The Chevrolet Silverado EV, combined with the F-150 Lightning and Rivian R1T, sold only 12,000 units in the first four months of 2026, indicating that pickup truck users simply don't care. Range anxiety and reduced towing capacity are hard injuries; no amount of subsidies can fix that.

Honda: Lost the most severely, suffering its first annual loss in nearly 70 years since listing, with a net loss of 423.9 billion yen. Impairments and restructuring costs related to electrification were as high as 1.45 trillion yen. Adding future expected additional costs, the total impact approaches 2.5 trillion yen, almost the sum of Honda's profits over the past three years.

President Teruhiro Numabe set a goal upon taking office in 2021: "Phase out all sales of fuel vehicles by 2040." Five years later, the goal is dropped. All three 0-series pure EVs were canceled, two of which were already at the "eve of production"; the premium EV brand Afeela, jointly built with Sony, also ended; the CAD 11 billion EV industrial chain project in Canada was frozen indefinitely. If inventory sells out, pure electric vehicles will disappear completely from Honda's North American product line.

After returning from a trip to China, Teruhiro Numabe also expressed his opinion in an internal meeting: "Facing such an opponent, we have no chance of winning." Later summarizing to the media: "China has entered the smartphone era, while we are still using flip phones." Retired executives jointly petitioned to force him out, compelling him to cut his salary by 30%. However, while the system changed, the elders' influence is no longer what it was, and Teruhiro kept his seat. Meanwhile, over the next three years, Honda will invest 4.4 trillion yen in hybrids and fuel vehicles, keeping only 800 billion for pure electric, completely shifting from "betting everything" to "stopping the bleeding to survive."

Tesla: Model S and Model X "retired with glory." The production line was converted into robots. Q1 losses were $2.8 billion. Margins dropped from 15% in 2021 to 3%.

Lucid: Laid off 18% in the US, the COO position was directly removed, and the second shift at the Arizona factory was closed.

From automakers to battery factories to startups, the entire production line is on a downward trajectory. Globally, more than 60 EV startups were founded from 2021 to 2023, raising over $150 billion. However, in 2024 to 2026, more than 40 declared bankruptcy or stopped production.

Where is the essence of the problem? The US lacks a complete battery supply chain. Cathode materials, separators, electrolytes, key links rely entirely on imports from China, Japan, and Korea. What can be done locally is only assembly and software. Automotive-grade chips are also fighting for production lines with AI. Storage increased 180% after three months; high-end models increased 300%. Without a supply chain, there is no cost advantage; without cost advantage, it relies on subsidies; once subsidies go, the whole system loses blood.

The data given by BNEF is even more striking: The average price of EVs in the US market is 24% higher than同级 ICE vehicles. China is the only market where the average price of EVs is lower than同级 ICE vehicles, while Germany, Italy, and the UK are 17% higher, and the US is nearly a quarter higher. Prices cannot come down, and global consumers also refuse to buy.

Charging infrastructure is a hard injury: As of June 2026, there are approximately 250,000 public charging ports in the entire US, of which DC fast charging is only 74,000. At the same time, China's public charging piles reached 4.907 million, nearly 20 times that of the US. The US has a large land area and scattered living; many users cannot install private piles. About 50% of US households do not have the conditions to install home charging piles. Calculate a bill as a consumer: Unable to charge, range reduction in winter, one-quarter more expensive than fuel cars; who wouldn't refuse to buy?

Then something interesting happened: HEV (Strong Hybrid) became the true winner in the US market. April HEV sales reached 209,000 units, up 10.1% year-on-year. For two consecutive years, it climbed from a monthly sales figure of 92,000 units all the way to over 200,000 units, more than doubling. Toyota held a 37.9% share. Honda set a monthly sales record in May with 42,583 units. CR-V hybrids accounted for 54% of that model's sales. The new RAV4 even directly canceled the pure fuel version. The logic for hybrids in the US is very simple: No change to refueling habits, no change to usage methods, no need for charging piles, but fuel consumption drops 30%-40%. In the first four months of this year, the growth curve of HEV was almost a mirror image of BEV: HEV has a steady upward trend, while BEV oscillates between 60,000 and 80,000 units.

This is no coincidence, indicating that consumers in the US market are also voting with their feet: In countries without charging conditions, hybrids are a "painless entry."

BNEF lowered the estimated EV share for the US in 2030 from 48% to 17%. Two-thirds of expectations have been wiped out. This is not a minor adjustment; it is a heavy judgment on the industry direction.

02. On the China Side: Subsidies Withdrawn, Penetration Still Rising

Many people think domestic electrification was fed by subsidies, but the data given in 2026 directly refutes this judgment.

New energy vehicle purchase subsidy policies were terminated at the end of 2022. Purchase tax exemption changed to a half-exemption. The reduction cap was lowered from 30,000 to 15,000. Subsidies are decreasing, but penetration is rising. May was 62.9%, and the first two weeks of June reached 63.9%. At the end of 2023, most industry analysts predicted penetration "breaking 60%" would happen in 2027, but the result was more than a year early.

Because the engine of China's electrification is not subsidies, it is the ecosystem.

One-stop supply chain: From mine to car, the only complete industry chain globally is in China. CATL plus BYD accounts for over half of global power battery installations. LFP doubled in price? BYD's second-gen Blade Battery said, "We passed the new national standard 6 years ago." Lithium carbonate price increase was offset by salt lake lithium extraction and recycling systems; chip price increase was covered by Horizon Robotics and Black Sesame. This isn't because one link is strong; it's that every link has alternative solutions.

68% of global EVs in 2025 came from Chinese brands; in Brazil, Chinese brands accounted for 96%; in Thailand, 88%. This is not simple export; it is market suppression.

Involution drives iteration: One model update a year, one generation replacement every two years. No second market globally runs at this pace. Overseas automakers take 36 months to develop an EV, while domestic automakers take 18-24 months, compressing it by half directly. At the Chongqing Auto Show, Changan demonstrated a 120 km/h tire blowout automatic braking; Seres shouted "Safety before Intelligence." At the end of the competition, those who survive are not the cheapest, but the most capable.

Penetration rates in Tier 3 and Tier 4 cities rose from 38% at the end of 2025 to 52% in May 2026. Pure electric and plug-in hybrid vehicles below 100,000 RMB exploded, pulling a large number of first-time buyers directly into the new energy camp — also announcing that sinking markets are no longer blind spots for electrification.

Policy changed posture, direction unchanged: Two mandatory national standards landed on July 1, raising the threshold again — thermal runaway no fire for 2 hours, underbody impact test, 300 fast charging cycles, physical one-button power off mandatory standard. Previously, policy "pushed" the industry; now it "forces" compliance. Those who do poorly are cleared out; those with real ability stay. Starting August 1, all newly produced charging piles must pass CCC mandatory certification.

Charging networks have left the US by an order of magnitude: As of the end of April 2026, the total number of domestic charging facilities reached 21.955 million, public charging piles reached 4.907 million, nearly 20 times that of the US. Charging coverage in highway service areas is 98.8%. During the May Day holiday, daily new energy vehicle traffic on national highways reached 15.4 million trips, with total charging volume reaching 94.93 million kilowatt-hours. BYD plans to build 20,000 flash charging stations by the end of the year. Li Auto has built 4,057 supercharging stations. NIO swap stations exceed 3,800. V2G vehicle-grid interaction has started large-scale pilot programs in 9 cities.

China's charging network has moved from "whether there is any" to "whether it is good", while the US is still worrying about "whether there is any".

Going global has changed from selling cars to rooting: Q1 exports reached 2.226 million units, up 56.7%; new energy exports 954,000 units, also doubled; single-month exports in May reached 784,000 units, a year-on-year surge of 75.1%;

Starting in January, pure electric passenger vehicles needed export licenses from the Ministry of Commerce, down to April battery tax rebate reduction. New energy exports are also shifting from low-price volume to local manufacturing. BYD's Szeged factory in Hungary has an annual capacity of 300,000 units, production in Q4; currently looking for a second base in Spain. Executive Vice President Ke Li stated in an interview, "There is absolutely no time to start a new factory project now; all we can do is find existing factories to take over and retrofit." It's not building factories; it's seizing factories. Chery is producing jointly at Nissan's Barcelona plant and exploring contract manufacturing at Nissan Sunderland plant in the UK; Leapmotor uses Stellantis' two factories in Spain for layout; Geely plans to acquire some of Ford's capacity in Valencia; Xpeng is negotiating with Volkswagen to share European capacity;

Jefferies Investment Group estimates Chinese automakers could ultimately produce over 2 million vehicles annually in Europe. At the same time, export structure has changed: Previously low-price vehicles went for volume; now BYD Seal and Zeekr 001 sell over a thousand units per month in Europe, tearing a hole from the stereotype of "cheap but average quality" towards mainstream brands.

The core logic is one sentence: Build the ecosystem first, then scale, finally clear the field with standards. Although policies change at each stage, the direction is always moving forward.

03. Why the Divergence? Three Core Differences

Industrial Chain Depth: China's new energy full chain is localized. Lithium carbonate price increase has salt lake lithium extraction for offset; chip price increase is covered by Horizon Robotics and Black Sesame. What about the US? Batteries rely on imports; chips are grabbed by AI; what can be done locally is only assembly. One link gets stuck, and the whole vehicle has to wait. BNEF report also points out: Battery capacity in North America and Europe is expanding, but manufacturing costs will remain higher than China in the short term. It's not product technology that differs; it's industrial structure. Chinese automakers' development cycles are 18-24 months, US is 36 months. It's not that Americans are slow; it's that every part change requires transoceanic coordination; speed cannot be raised.

Market Logic: China is "Supply creates Demand." You launch 800V fast charging + urban NOA + 300km refueling in 5 minutes, and consumers are willing to pay. Tier 3 and 4 city penetration rises 14 percentage points a year; vehicles below 100,000 RMB explode — supply is in place, demand automatically follows. US is "Demand waits for Supply" — consumers first ask "Where are the charging piles?", "Range reduction in winter?", "How much more than fuel cars?". If they can't answer one of these three questions, they won't buy. April BEV sales 64,500 units, HEV sold 209,000 units, three to one. Supply pushes, demand doesn't respond, trapped in a vicious cycle. HEV became the "electrification painkiller" for US consumers; no change to any usage habits, but fuel consumption drops by a third. If the painkiller works, who wants to do surgery?

Policy Logic: China is "Raise the Baseline" — new national standards don't offer subsidies, but non-compliant products cannot be sold; industry-wide thresholds are raised. US is "Pay You to Do It" — subsidies follow, once subsidies are withdrawn, they immediately turn around. Honda cut losses of 2.5 trillion yen then instantly switched to hybrids; invested 4.4 trillion yen in hybrids and fuel for three years, kept only 800 billion for pure electric — not because hybrids are better, but because hybrids don't rely on that charging network and battery chain that hasn't been built. Ford's extended range F-150 uses a gasoline generator to charge the battery; essentially finding an electrification detour that "doesn't rely on the charging network" in a country without charging infrastructure.

04. Global Electrification is Not a Straight Line

The opposite curves of China and the US clarify one thing: Electrification cannot run just by policy pushing; it must be backed by an ecosystem.

Battery supply chain, charging network, intense iteration — if one of the three conditions is missing, it will slow down or even retreat.

The US lacks the first two; automakers collectively turned to hybrids as stepping stones. They don't not want to do pure electric; they can't. Ford's extended range F-150, Ram's Ramcharger, GM's hybrid pickup — the three major Detroit pickup manufacturers unconsciously took the same path. This isn't heroes thinking alike; they were forced into a corner by the same reality. When Honda's Teruhiro Numabe said the "flip phone" phrase after returning from China, Aku felt what he truly wanted to say was: China built the entire ecosystem from mine to charging pile to car in ten years; most countries haven't even properly set up the charging piles.

China has all three conditions, so when subsidies withdrew, the market kept rising; standards increased, the industry kept competing, exports tightened, automakers kept selling. This isn't because policy is stronger; it's because the ecosystem is thicker.

But it also means: Global electrification will not be a straight line. China's 62.9% penetration rate does not represent the world will reach this number. The BNEF industry report has already adjusted the estimated global EV share for 2040 from 73% down to 66%. How fast global markets can run depends on whether local industrial chains, infrastructure, and consumption logic can keep up.

China has carved out its own path, but others may not be able to walk this road.

“Enam bulan pertama tahun ini, ratusan model baharu dilancarkan, tetapi jualan menunjukkan penurunan, gabungan penurunan tiga aspek jualan, pendapatan dan keuntungan adalah jarang berlaku dalam sejarah.” Pada Forum Automotif China Chongqing 2026 yang baru sahaja berakhir, Wang Xia, Pengerusi Bahagian Industri Automotif Jawatankuasa Pengawalseliaan Perdagangan Antarabangsa China dan Pengerusi Persatuan Perniagaan Automotif Persekutuan Perniagaan Perdagangan Antarabangsa China, menunjuk dengan tepat penyakit persaingan kronik dalam pasaran automotif sekarang.

Setengah tahun pertama tahun ini belum berakhir, bilangan model baharu yang dikeluarkan di negara domestik telah mencecah 544 model, termasuk 71 model baharu dan model ganti, tetapi hasil runcit kenderaan penumpang di seluruh negara pada 5 bulan pertama menurun hampir 20% secara tahunan, jika ditolak eksport, data ini adalah 23.8%, tidak hanya kereta bahan api, antara kenderaan elektrik juga turun lebih 15% secara tahunan, pasaran kereta terperangkap dalam 'kesungguhan palsu' yang menyedihkan semakin berusaha semakin menyedihkan.

Yang paling menakutkan, margen keuntungan industri automotif pada suku 1 tahun ini hanyalah 3.2%, level terendah dalam sejarah. Terhadap ini Pengerusi Wang Xia menyatakan: “Jualan yang tidak disokong keuntungan, hanya permainan angka yang kosong; sedangkan keuntungan yang dikekalkan dengan subsidi, pada akhirnya adalah menara di atas pasir.”

Sebagai golongan baru terkemuka seperti Li Auto, Xpeng, pada Suku 1 tahun 2026, pertumbuhan pendapatan masing-masing dilaporkan -11.4%, -17.6%, NIO mendapat sumbangan ketara daripada model baharu高端 seperti ES8 pada suku 4 tahun lepas, pertumbuhan suku 1 ialah 112.2%, tetapi masih rugi bersih 330 juta yuan, kejayaan jualan teratas Leapmotor tumbuh 8%, pendapatan mencapai rekod setinggi dalam sejarah pada waktu yang sama, mengapakah Leapmotor dapat menyelesaikan 'kejayaan berganda' jualan dan pendapatan pada suku 1 pasaran kereta yang menurun? Model C yang baru dilancarkan dapat membantu Leapmotor menyelesaikan sasaran jualan satu juta tahun ini?

Perkongsian jualan siri C menurun “wajar”? Selepas pelancaran pasti kembali ke 50%!

Kereta Leapmotor ialah Juara Jualan baharu pada tahun 2025, laluan R&D menyeluruh, lebih daripada 65% komponen teras dihasilkan sendiri, kos pembuatan kereta lebih rendah daripada rakan sejawat, matriks produk merangkumi serentak pasaran khusus gred 100,000 hingga 200,000, elektrik tulen + range extender tiada kelemahan, ditambah sokongan kapasiti pengeluaran yang mencukupi untuk hantaran berterusan, laluan pembuatan kereta yang realistik dan label "SUV keluarga setengah harga", membuatnya sempurna sesuai dengan keperluan pengguna utama semasa, inilah sebabnya ia tumbuh menentang arus.

Dalam dua tahun yang lepas, C10/C11/C16, model siri C memberikan sumbangan jualan yang besar kepada Leapmotor, perkongsian jualan 77% pada tahun 2024, 55% pada tahun 2025, tetapi Suku 1 tahun 2026 hanyalah 36%, mengapa tiang sokongan jualan tidak lagi berfungsi? Kerana Leapmotor tahu untuk menyelesaikan sasaran jualan satu juta, siri C sukar disokong sebatang pohon, hanya boleh mengoptimumkan struktur produk untuk pelbagai titik kejayaan.

Maka pada hujung tahun lepas kita melihat siri A untuk jumlah tinggi, siri B untuk kekalkan keuntungan, siri C asas dan siri D untuk premium, empat tiang sokongan menyokong jualan Leapmotor, dan suku 1 tahun ini pula adalah zaman kekosongan siri C, model lama menstok, pengguna menanti model baharu, keperluan akan dilepaskan pada pertengahan tahun kedua.

Siri C Leapmotor yang baru dilancarkan memfokuskan kepada laluan harga tetap, peningkatan konfigurasi, semua model diganti cip 8295, lidar diturunkan, peningkatan jarak jauh, pembaikan struktur produk ini sangat tepat pada masanya, melengkapkan semua kelemahan, maka pada pertengahan tahun kedua perkongsian jualan siri C akan meningkat secara ketara, jangkaan berani akan kembali ke 50%.

Sasaran jualan satu juta masih boleh direalisasikan? Terhalang di mana? Bergantung kepada apa untuk menang?

Sebut dahulu kesimpulan: Sasaran jualan tahunan 1 juta mempunyai cabaran, tetapi kemungkinan besar dapat diselesaikan. Susunan sasaran jualan tahunan Leapmotor ialah 900,000 domestik, 100,000 hingga 150,000 luar negara.

Masalah terhalang masih ada, iaitu kenaikan kapasiti pengeluaran yang lambat yang selalu dibincangkan, pengeluaran kilang Jinhua, Zhejiang untuk model utama gred 100,000 A10 sudah mula pengeluaran dua giliran pada April, Jun pusingan 30,000+ kapasiti, masih ada jarak dari sasaran 100,000 purata bulanan, kilang Hefei baru beroperasi pada Mei, pengeluaran tahunan dua giliran 200,000 hingga 400,000, tetapi pelepasan kapasiti lewat, sumbangan jangka pendek terhad. Ditambah sel bateri, cip, storan tahap automotif masih ada kekurangan dan kenaikan harga, menyekat进度 pengeluaran penuh.

Tetapi Leapmotor sangat yakin dengan susun atur kapasiti segitiga emas Jinhua, Hangzhou, Hefei, susun atur kapasiti tahunan keseluruhan mencecah 1.46 hingga 1.51 juta unit, hampir 1.5 kali sasaran jualan satu juta, ada tekad bahawa selama pesanan terus mengalir, boleh menerima kekayaan melimpah ini.

Kembali ke produk, A10 bulan pertama tempahan besar突破 40,000 unit, D19 dalam 15 hari tempahan besar lebih 15,000 unit. Ditambah model siri C yang digantikan bulan ini, jualan pada pertengahan tahun kedua kemungkinan besar akan mencapai rekod baharu lagi, kerana ada satu model lagi berposisi 50,000 hingga 70,000, memfokuskan pasaran bawah kartu kemenangan A05 akan dilancarkan, kereta kecil ini boleh menambah sistem bantuan memandu Tahap L2, akan menguli rival gred yang sama.

Semasa Leapmotor boleh menguasai pasaran besar dalam julat harga ini, maka rakan sejawat lain tidak akan ada peluang memulihkan keadaan, kerana kumpulan pengguna harga gred ini biasanya sangat sensitif terhadap harga, sama ada kumpulan yang membeli kereta pertama tetapi bajet tidak mencukupi, sama ada kereta ganti keluarga kedua yang tidak terlalu banyak keperluan, jadi harga akan menjadi faktor terbesar untuk membuat keputusan. Dan A05 mungkin menjadi pemecut roket dalam jalan jualan satu juta Leapmotor.

Selain pasaran domestik, eksport Leapmotor pada suku 1 kira-kira 40,000 unit, eksport meningkat mendadak 442% secara tahunan, dalam kalangan golongan baru eksport kuantiti dan perkongsian eksport adalah nombor satu. Ini bergantung kepada sumber 40 negara, 800+ kedai Kumpulan Stellantis, Leapmotor tidak perlu membina laluan global sendiri, ini adalah satu-satunya dalam semua golongan baru. Pada pertengahan tahun kedua apabila pengeluaran kilang luar negara seperti Sepanyol, Malaysia mulai, jualan luar negara Leapmotor mungkin ada kejutan yang lebih besar.

Dalam jalan kejar jualan satu juta, Leapmotor mempunyai satu lagi langkah terakhir, iaitu menukar harga dengan jumlah, berbanding rakan sejawat, Kereta Leapmotor masih ada ruang pengurangan harga dalam julat gred 100,000, tetapi terpaksa jualan pemimpin Leapmotor tidak akan mengambil risiko, kerana setelah harga turun akan sukar untuk kembali.

Sebab lain yang yakin pada jualan pertengahan tahun kedua Leapmotor ialah corak pasaran, dari 5 tahun lepas melihat, pasaran automotif menunjukkan corak pertengahan tahun pertama lemah, pertengahan tahun kedua kuat, biasanya pertengahan tahun kedua jualan mengambil 55%–60% setahun, seperti Li Tengfei, Timbalan Pengarah Leapmotor berkata: “Jualan tahun ini akan menunjukkan trend turun dahulu kemudian naik, kita sangat yakin terhadap sasaran 1 juta unit.”

Bisakah jualan harga rendah memecahkan dilema semakin besar skala, semakin lemah keuntungan?

Dari kerugian tahunan 5.1 bilion hingga untung 540 juta, Leapmotor hanya menggunakan tiga tahun untuk menjelaskan lengkung pengurangan kerugian seperti dalam buku teks. Tetapi pada Suku 1 tahun 2026 Leapmotor menghadapi cabaran baharu, margin kasar 9.4%, kurang daripada 14.9% pada suku yang sama tahun lepas, kerugian bersih 390 juta yuan, suku yang sama tahun lepas hanya rugi 130 juta yuan, malah suku 4 tahun lepas masih untung 360 juta.

Tahun 2025 keuntungan per kenderaan Kereta Leapmotor 903 yuan, kurang daripada satu persepuluh BYD, satu per tiga puluh lima Li Auto, dijual paling banyak, tetapi untung paling sedikit. Dan penyelidikan pembangunan model baharu B10, penyebaran laluan luar negara, Malaysia dan Sepanyol kilang mulai beroperasi, ini semua memerlukan pelaburan berterusan.

Leapmotor walaupun melalui kawalan kos yang luar biasa dan周转 jualan yang tinggi sudah berjalan melalui penutupan kesan skala, tetapi di bawah strategi harga rendah langit-langit keuntungan juga semakin jelas, jualan Leapmotor masih mencipta rekod, skala masih membesar, hingga tahun 2028 kesan skala terbebas sepenuhnya, kos tetap per kenderaan besar turun.

Selain itu, struktur LEAP 3.5 Leapmotor, C/B model bahagian berkongsi kadar kebolehgabungan mencecah 88%, membesarkan “efek penggunaan semula” tidak hanya membuatkan kitaran pembangunan model baharu sebelum ini memendek 25%, pelaburan penyelidikan dan pembangunan keseluruhan juga akan turun 40%, juga melalui berkongsi lantai bawah, lampu, kerusi dan komponen teras lain, meningkatkan kapasiti rundingan pembelian, barulah kesan skala akan menghadapi titik belokan sebenar keuntungan. Pada masa yang sama, Kereta Leapmotor juga mengumumkan rancangan untuk melancarkan jenama baharu tinggi kedua sendiri pada tahun 2027, harga produk baharu akan menyasar pasaran tinggi lebih daripada 300,000 yuan, membuka had harga, meningkatkan premium jenama.

Dalam domestik menggunakan spesifikasi tinggi harga rendah merebut pasaran, di luar negara Leapmotor aktif meminjam kapal keluar laut mencari ruang premium, syarikat automotif keempat terbesar dunia Kumpulan Stellantis, pada 8 Mei tahun ini dengan Kereta Leapmotor mengumumkan memperdalam kerjasama strategik, memutuskan untuk memberikan hak operasi bahkan hak memiliki kilang ikonik Eropah sendiri kepada Kereta Leapmotor. Tidak lama lagi kilang Zaragoza, Sepanyol yang pernah menghasilkan Opel, Peugeot akan menghasilkan Kereta Leapmotor B10, dan kilang Villaverde, Madrid yang pernah menghasilkan Citroën juga akan pada tahun 2028 mula menghasilkan Kereta Leapmotor.

Selain itu, berdasarkan kelebihan Kumpulan Stellantis memiliki lebih daripada 30% bahagian pasaran di Amerika Selatan, kilang Brazil Kereta Leapmotor juga sedang maju dengan tergesa-gesa. Dan dengan meningkatnya prestasi pasaran Asia Tenggara tahun ini, Kereta Leapmotor juga sedang aktif memajukan rancangan kilang Indonesia, Malaysia, Thailand. Masa depan perkongsian peruntukan luar negara margin tinggi akan mengimbangi kerugian persaingan dalaman harga rendah di dalam negara Leapmotor.

Akhir kata

Pengasas Kereta Leapmotor Zhu Jiangming pernah menyatakan: Hanya setelah bertahan, kita boleh berkembang, membuat skala besar ini adalah sasaran yang lebih penting daripada untung. Jadi pada fasa semasa Kereta Leapmotor selepas menyelesaikan sasaran jualan satu juta, akan berjaya melintasi kitaran, tetapi keuntungan berkorban untuk pengembangan skala, sasaran keuntungan bersih 5 bilion setahun akan gagal.

Seperti Pengerusi Wang Xia yang disebut di awal, skala tanpa keuntungan adalah racun. Dalam perlawanan akhir penyingkiran raksasa tenaga baru global ini, jualan satu juta从来 bukanlah sasaran, untuk mendapatkan tiket ke masa depan, sama ada laluan memandu tanpa pemandu, mendapatkan gantian seterusnya revolusi teknologi, sama ada laluan pasaran luar negara, menjadi “Toyota” zaman tenaga baru.

6月12日，“十五万热爱，高光而来” BJ30旅行家十五万台下线暨高光版上市发布会在北汽株洲超级工厂举行。为进一步推进越野平权，让更多家庭享受轻越野生活，BJ30旅行家全系推出3万元置换政策，超级置换价6.99万元起。年度全新版型BJ30旅行家高光版上市，定位轻越野SUV，颜值、性能、体验全面跃升，超级置换价8.29万元起。在央视镜头下，北京越野还直播拆解了一台行驶15万公里的BJ30旅行家，全网见证车辆的可靠品质。

      作为中国轻越野SUV最快达成15万台的车型，BJ30旅行家依托北京越野六十余年专业沉淀，以超野、超大、超省的硬核实力，让世界看见中国。

      “超野”是出发的底气。北京越野打造了行业领先的“三擎四驱六模HEV混动架构”，并率先应用于BJ30旅行家，成为中国方盒子SUV品类首款HEV混动车型。三擎动力是一台41%热效率混动专用发动机、前驱动电机和后驱动电机，分别擅长长距离节能、实时补能与瞬时爆发；智能四驱响应速度达30毫秒，0.5秒即可爆发峰值扭矩。六大模式可自动选择最优工作方式，动力始终处于最佳状态。配合能量中锁、四轮电子限滑及智电ATS全地形控制系统，轻松应对泥地、沙地等场景。

       “超大”是出行的从容。BJ30旅行家三排七座布局，拥有2820毫米超长轴距、66%的超高得房率，以及1496升超大后备箱，后排纯平放倒秒变1.92米大床。B级方盒子超宽第三排空间，让1.8米成年人乘坐依然宽敞。全车38处储物空间，随身物品都有专属位置。全家出行自由，每个人都不将就。

       “超省”是长久的陪伴。BJ30旅行家实现了省钱、省时、省心。近期，来自南非、印尼、阿联酋、波兰、墨西哥的五国汽车博主，实测国产SUV的油耗，BJ30旅行家在每个国家都跑出百公里不超5升的成绩，一箱油续航超1000多公里。无需找充电桩，加油即走，每年节省数十小时补能时间。同时，首任车主享整车终身质保，无高压电池包安全隐患，保养简便且配件充足，让每一次出发都无后顾之忧。     高光性能，动力与油耗兼得。BJ30旅行家高光版换装高性能、长寿命的专用AGM电瓶，循环寿命达普通电瓶的3倍；搭载保时捷同款涡轮增压技术，整车充电效率达99%；后电机功率从55千瓦提升至70千瓦，匝道汇入、路口起步、紧急避让，都能获得及时响应，给你坚守路权的底气。

     高光体验，打造移动的舒适会客厅。相比普通SUV，BJ30旅行家车身更高，视野更开阔，还有座椅加热、通风、方向盘加热等功能，贴心舒适。系统可感应雨滴，自动关窗。64色氛围灯能随音乐节奏律动，给你独享舒缓情绪的空间。

       BJ30旅行家高光版让你越野生活与城市通勤兼得，用一台车的从容，装下生活的两面，把每一个平凡的日常，都过高光时刻。     为回馈十五万车主的相伴与热爱，北京越野推出“3万超级置换政策”，置换用户和新购用户都可以享受。在3万元超级置换政策之上，北京越野还带来五重尊享礼遇，限时下订即可享受： 第一重，质保礼：赠送价值6000元整车终身质保（限首任非营运车主）；

第二重，金融礼：0首付等多种金融产品可选；

第三重，呼朋礼：老客户转介绍成交，奖励至高800元京东卡；

第四重，升级礼：全系终身OTA免费升级；

第五重，流量礼：基础流量终身免费，娱乐流量2年免费且不限量。

June 13, the 2026 Chongqing Auto Show grandly opened. Changan Mazda with the theme "Always Mazda", showcased at Hall N8 booth with classic legendary sports car MX-5, global strategic new energy model MAZDA EZ-6 (hereinafter referred to as EZ-6), MAZDA EZ-60 (hereinafter referred to as EZ-60) and the EZ-60 Mazda Edition launched in April, comprehensively demonstrating the latest results of the enterprise's new energy transformation, and simultaneously announcing a series of user co-creation activities. At the same time, Changan Mazda launched the 618 Mid-Year Mega Promotion. Based on up to 20,000 Yuan national subsidy and 17,000 Yuan factory subsidy, purchasing specified models enjoys an exclusive luxury set worth 7,999 Yuan.

Global Car Strength Endorsement, Setting a Benchmark for New Energy Value

EZ-6 and EZ-60 were built from the beginning of product development with global standards. In design, EZ-6 won the "2026 World Car of the Year Design Award", becoming the first Chinese new energy model to receive this honor, EZ-60 became the only SUV globally to simultaneously win 8 top world design awards. Regarding safety, both models are built strictly according to China-Europe dual 5-star standards, EZ-6 secured 5 authoritative safety certifications including C-NCAP, E-NCAP, EZ-60 battery safety meets new national and European standards in advance, Changan Mazda further promises all new energy users "Battery Lifetime Spontaneous Combustion Compensation, unlimited mileage, unlimited owners".

Regarding handling, EZ-60 successfully won the China New Energy Vehicle Rally Championship Circuit Race SUV Class Champion and Rally Race Overall Ranking Runner-up, verifying ultimate handling strength. At the auto show, Changan Mazda owner and also champion driver Ji Hao shared his mindset journey driving the factory-original unmodified pure electric EZ-60 to compete in the China New Energy Vehicle Rally Championship, in a 6-day 910-kilometer devil schedule, facing competition from the majority of extended-range/Plug-in hybrid participating models, relying on EZ-60's ultimate quality stability and "Human-Machine Integration" tuning, breaking through from 100 participating cars from 27 brands, completing the ultimate verification of EZ-60 factory mass-produced car performance.

[Changan Mazda Owner, Champion Driver Ji Hao]

Currently, Changan Mazda has successfully obtained whole vehicle certification for three major markets: EU, UK, and Australia, becoming the first domestic joint venture new energy vehicle enterprise to secure these three certifications simultaneously. Hard-core global quality has won extensive recognition from the international market, at the end of May, over 80 overseas dealers from Europe, Australia, and Thailand specially visited the Nanjing factory, giving high praise to production processes and quality control systems. Currently, overseas sales and pre-order trends for EZ-6 and EZ-60 continue to improve, in the domestic market, EZ-60 has been the sales champion of joint venture new energy medium SUVs for 7 consecutive months.

Changan Mazda Automobile Sales Branch Executive Deputy General Manager Wu Xuxi stated: "Changan Mazda has become Mazda's global new energy vehicle whole design, R&D, manufacturing base and export center. We solemnly promise that every Mazda new energy user owns a true global car."

[Changan Mazda Automobile Sales Branch Executive Deputy General Manager Wu Xuxi]

Adhering to "User+" Thinking, Building a Value Community of Brand and Users

5 million users in the Chinese market are companions in the development of the Changan Mazda brand and co-creators of value. In 2026, Changan Mazda continues to practice "User+" thinking, launching a series of user co-creation activities, building a full-dimensional, full-lifecycle user ecosystem, making the commitment of "Always Mazda", not only reflected in the value details of products, but also integrated into the emotional resonance with every user. For users and Mazda fans participating in a series of Changan Mazda activities, there will be a chance to participate in the 2026 Fan Ceremony.

The "Wish Journey" launched at the beginning of the year, with the two-way rush of "User Wishes, Brand Assistance", truly brought Changan Mazda into users' lives. Behind every wish is a unique emotional connection between the user and Mazda. The cumulatively launched 11-issue "Owner Story Collection", has become a showcase window for Mazda fan spirit: Here are public welfare experts who have donated to poor primary schools for 7 consecutive years, love leaders who have organized car owner clubs to care for special children for 4 consecutive years, sweet couples who got to know each other because of Mazda. These real and vivid stories make up the most moving background color of the Changan Mazda brand.

"Joy Mazda Creator" and "National Broker" plans have built a platform for users to co-create brand value. Since the launch of the activity, a large number of Mazda fans who record car ownership life with lenses and transmit product value through word of mouth have emerged. "Post-00s" EZ-60 owner Sun Jingyi shared her feelings as a "Joy Mazda Creator": "Work is usually busy, but I can use my spare time to share driving feelings. I am a beginner, participating for the first time, but whether it's car friends or Changan Mazda staff, they will spare no effort to help me, If you are a Mazda owner, like sharing, love making friends, welcome to join Joy Mazda Creator".

[Champion Driver Ji Hao (Left) / "Joy Mazda Creator" Sun Jingyi (Right) share their car ownership life]

The second season of the "Green Seedling Plan" officially launched in May is currently entering top universities across the country, deeply exchanging practical results of Changan Mazda in design, driving control, safety, intelligence, and other fields with young students. The simultaneously launched EZ-60 National University Modification Design Competition not only provides opportunities for excellent works to realize creativity, but also opened summer practice and internship spots to young students, further promoting learning for application and industry-education integration.

The practice of social responsibility also cannot do without the joint participation of users. Since 2015, Changan Mazda has cumulatively donated and built 12 Hope Primary Schools in Yunnan, with a total investment exceeding 10 million Yuan, benefiting tens of thousands of teachers and students. In June, Changan Mazda initiated the "Every Kilometer Has Kindness" public welfare action again, converting every user trip into a public welfare fund, all used to improve the learning and living conditions of Hope Primary Schools, letting love be transmitted on wheels.

618 Mid-Year Mega Promotion Arrives, Multiple Benefits Reward Users

Seizing the opportunity of the Chongqing Auto Show, Changan Mazda simultaneously launched the "Drive Enjoy Summer Flavor, Joy Enjoy 618 Big Promotion" activity, from now until June 30th, all series models launch heavy car buying benefits: up to 17,000 Yuan trade-in factory subsidy and 20,000 Yuan national subsidy for old-for-new, purchase specified models gift value 7,999 Yuan luxury set (factory charging pile + Long Film solar film + TPE floor mat / trunk mat), enjoy 0 down payment 5 years low interest (annual fee rate 1.99%) and value 7,999 Yuan lifetime zero-fuel rights. In addition, all users who test drive new energy models at the store can receive national intangible cultural heritage Jinling Gold Foil, consult authorized dealers for details.

"Always Mazda" is never just a slogan, Changan Mazda, while inheriting the century-old brand gene, always puts user needs first. In the future, Changan Mazda will continue to build every product well with global standards, connecting every user with sincerity, letting more people feel the driving fun of "Human-Machine Integration". June 13-21, welcome consumers to visit Chongqing International Expo Center Hall N8 Changan Mazda booth, feeling the global car charm up close.

6月11日，2026德国科隆轮胎展落幕。通用股份携千里马、瑞途、喜达通三大品牌参展，并首次向海外市场发布“超级杜仲轮胎”。凭借创新技术与全系产品矩阵，通用股份展台吸引德、法、意、英等多国数百名客户到访，新客户占比超80%，现场达成意向订单突破百万美元。

针对欧洲严苛环保法规与复杂气候，通用股份展示了覆盖乘用车胎（PCR）与商用车胎（TBR）的精细化产品线。乘用车胎方面，ECOCITY主打低滚阻与湿地安全；SPORTEZZA侧重高速操控与静谧性；BlueGuard SNOW雪地胎专为高纬度严寒路况打造。商用车胎方面，CDL2专攻长途干线高速稳行与排水；CTL2强调全路况全能表现，支持多次翻新，契合欧洲物流车队降本增效需求；喜达通旗下多款高耐磨产品亦获关注。

展会核心亮点为历时十余年研发的“超级杜仲轮胎”海外首秀。该产品从三大维度对标欧洲严苛标准：耐磨性能同比提升30%以上，乘用车前轮寿命突破8万公里；湿地制动距离缩短4米以上，达欧盟标签法最高A级标准，并叠加5mm扎钉自愈合的CeliSeal自修补技术；搭配CeliMute静音棉技术，空腔噪音降噪9dB，响度感知降50%，适配高端新能源车型静谧需求。

目前，通用股份依托国家级研发平台及泰国、柬埔寨“双基地”产能布局推进全球化战略。在欧盟收紧碳排放与环保标准的背景下，“超级杜仲轮胎”的推出契合了欧洲市场对绿色化、高品质轮胎的审视要求。未来，通用股份将持续深耕绿色材料、智能制造与产品迭代，夯实全球化竞争力。

6 月 12 日晚上，《憲深說車》發表咗一篇關於長城汽車海外架構調整嘅報導，自稱從知情人士處獲悉，長城汽車國際總裁史青科已經提出離職，其接任者為長城國際總裁助理、巴墨大區總裁張庚申。與此同時，長城汽車海外業務正經歷一輪深層次架構調整——從過去「集中集權」嘅海外一級組織，轉向決策權上收至集團總裁層，海外研、產、銷被拆分為垂直單線管理。

呢一變動被外界解讀為長城汽車對 2024 年「長城國際」戰略嘅「修正」。而圍繞離職傳聞與架構調整嘅真實意圖，好多業界人員向斗子詢問，斗子聯絡咗長城汽車公關部，但冇得到回應。其後又聯絡咗一名長城汽車海外人員（該人員唔願透露姓名），該內部人員向斗子表示，佢已經留意到相關消息，但「好多嘢報導唔實，具體情況佢唔方便透露」。

一邊係媒體嘅「實錘」報導，一邊係長城汽車相關人員嘅「唔方便透露」，長城海外業務究竟喺醞釀咩？

架構從「集權」到「分權」，海外總裁權限大幅縮水

根據《憲深說車》獲取嘅資訊，長城汽車此次海外架構調整嘅核心方向係：弱化海外一級組織權限，上收決策權至集團總裁穆峰層。此前「長城國際」作為獨立作戰單位，擁有研、產、供、銷、服統一調配資源嘅權力；調整後，海外各職能被拆解，分別劃歸集團對應中台。

以俄羅斯業務為例，屬地研發、製造、銷售將分別由國內技術中心、「河北整車」、長城國際銷售三位總裁分管，唔再設統管全鏈條嘅俄羅斯總裁。原俄羅斯總裁張軍學近日已調回國內。

有分析人士指出，長城國際總裁嘅權限由「全權統籌海外所有業務」變為「只協調銷售嘅垂直業務總裁」，呢個或係史青科離職嘅重要原因。

史青科係長城汽車嘅老將，2002 年入職，歷任國際銷售部副總經理、長城國際總裁、長城汽車副總裁，主導咗俄羅斯、泰國、巴西、歐洲等海外工廠落地與渠道搭建。佢嘅離職並非業績驅動——2025 年長城海外銷售超 50 萬輛，同比增長 12%；2026 年 1-5 月海外銷售 23.1 萬輛，同比增長 46.2%。

魏建軍嘅「收放權」難題：為退休搭建體系化治理

由 2024 年「放權」成立長城國際，到 2026 年「收權」拆解海外架構，兩年間嘅反覆折射出長城汽車喺職業經理人管理上嘅深層次探索。

消息人士話，今次調整同董事長魏建軍對「放權弊端」嘅察覺有關。長城喺國內市場已積累咗總部中台管控區域業務嘅成熟經驗，而家呢套思路被平移至海外。而魏建軍等 1960 年代出世嘅民營車企掌門人，正透過體系化治理架構嘅搭建，為未來嘅退休交接鋪路。

從斗子嘅觀察嚟睇，長城此次海外架構調整，本質上係一場組織效率嘅再平衡：將海外由「獨立王國」拉返集團統一管控，避免權力過度下沉帶來嘅失控風險。

斗子點評：調整係真嘅，細節待驗證

內部人士對斗子明確表示「報導唔實」，但冇指出具體邊度唔實。結合多方資訊可以透過推測做出如下判斷：

架構調整確有其事。釘釘架構已喺 4 月初變更，員工勞動合同重新同股份公司簽署，呢啲硬性變動無法掩蓋。

史青科嘅離職狀態尚未官宣。「已提出離職」與「已正式離職」之間存在時間差，公關負責人僅表示「確有內部消息」。

內部人士嘅「唔方便透露」耐人尋味。作為一名長城汽車海外人員，呢名內部人士冇直接否認某件具體事，而係籠統稱「報導唔實」，呢啲好可能意味住最終方案仍在動態調整中。

對於長城汽車而言，海外年銷 50 萬輛嘅盤子已經不容有失。任何架構調整都必須以唔衝擊業務連續性為前提。史青科嘅去留、張庚申嘅接任、海外新架構嘅最終形態，仲要等待長城汽車官方正式公告。

斗子將持續關注。

In this early summer of 2026, what we see is not just a set of record-breaking numbers, but the complete logic of a Chinese brand moving from quantitative change to qualitative change.

On the first day of June 2026, when most car companies were still making a final sprint for the 'half-year exam', Geely Automobile has delivered a remarkable May performance report: monthly sales of 237,637 units, achieving year-on-year and month-on-month double growth for three consecutive months.

This is not just a simple sales sprint, but more like a carefully choreographed 'technical symphony'. Under the current high penetration rate of new energy, Geely did not fall into pure price wars, but chose a harder path — using the confidence of fully self-developed technology to reshape the value benchmark of every segment market. Through these cold numbers, we try to explore: How exactly did Geely make 'technical belief' take root in users' hearts?

The 'Multi-dimensional Chess Game' Behind Sales: From Single-unit Breakthrough to Army-style Operations

If the automotive market is compared to a battlefield, then Geely in 2026 is no longer a warrior holding a single weapon, but a well-equipped, clearly divided modern army.

First to come into view is the performance of ZEEKR. Delivery volume of 34,377 units, up 81.8% year-on-year. This number itself means that the discourse power in the high-end pure electric market is shifting. Interestingly, ZEEKR did not dilute its 'luxury technology' brand concentration due to pursuing scale. On the contrary, the proportion of ZEEKR Series 9 and Series 8 is close to 50%, and the average transaction price per vehicle grew counter-trendly by 52.4%. This shows that in the high-end market, users are willing to pay for ultimate technical experiences.

The launch of the new generation flagship MPV ZEEKR 009 can be called a 'technical show'. Full-stack 900V high-voltage architecture, 10-minute charging replenishing 510 kilometers, 0-100 acceleration 3.9 seconds. These parameters might have existed only in concepts a year ago, but now are actually put into the car. Especially its equipped Thor-U chip, with 700 TOPS computing power. This is not just an accumulation of computing power, but infinite possibilities reserved for future all-scenario intelligent driving control. ZEEKR is proving that Chinese brands can not only make luxury cars, but also define the technical standards of luxury cars.

Turning attention to LYNK & CO, this 'Born Global' brand is undergoing a profound 'electrification metamorphosis'. May sales 20,732 units, new energy share up to 70.8%. The newly launched LYNK & CO 10 and LYNK & CO 10+ no longer only emphasize 'sport', but propose a 'controllable, stable' driving experience. On TCR China and CTCC race tracks, LYNK & CO 03+ TCR racing cars won multiple championships. This transfer of 'race track genetics' to civilian products built a unique brand moat. LYNK & CO is telling the world in a very new way: Electrification does not equal boredom, driving fun can still be precisely tuned.

As the sales cornerstone, Geely Galaxy and Geely Brand have shown amazing system strength. Geely Galaxy Starship 7 EM-i, completing the 'Excessive Standard Bilateral Serial Limit Crash Test' in the French UTAC laboratory, verified 'Chinese-style safety' in a way that was almost harsh. In A-class and B-class markets, Geely Star Wish, Boyue, Emgrand, and other models not only held their basic market share, but through the empowerment of AI technology, achieved intergenerational leadership in the comfort and intelligent experience of family cars.

From 'Parameter Involution' to 'Value Symbiosis'

After going through the 'parameter arms race' of the past few years, the 2026 automotive market began to return to rationality. Users no longer only look at driving range, but value charging efficiency, safety redundancy, and the stability of intelligent experience. Geely's brilliance lies in that it realized this early on, and began to implement technology from 'paper' to 'road'.

Intelligence is no longer an option, but a standard configuration

Geely's published 'Qianli Haohan Intelligent Driving China Full-domain Travel Report' revealed a stunning fact: the activation rate of assisted driving was as high as 93.8%. This means the vast majority of Geely owners have already formed the habit of using intelligent driving. Accumulated avoidance 8.9 million times, AEB automatic emergency braking successfully triggered 2.4 million times. Behind these data is the safety of countless families. Geely's logic is clear: The core of intelligence is safety, is liberating users' energy, not creating anxiety.

Safety is the Gene Carved into the Bone

On Euro NCAP test tracks, in Italy's Misano circuit, on Australia's wilderness roads, Geely's products are undergoing the harshest environment tests globally. From ZEEKR 7X topping sales in Australia to Geely Starship 7 EM-i performing well in crash tests, Geely is defining Chinese car safety with global standards. This 'Full-domain Safety' concept gives Geely's products the confidence to face established European and American car companies when going global.

From 'Product Output' to 'Value Output'

May overseas export sales 85,144 units, reaching a new high again. Behind this number, Geely's globalization strategy has entered the 'deep water zone'.

In the past, Chinese car companies going global were often seen as synonymous with 'cost-performance ratio'. But now, ZEEKR 7X became the best-selling luxury pure electric SUV in markets such as Mexico and Malaysia, Geely Star Wish topped the charts in markets such as Brazil and Indonesia. This shows that what Geely exports is not just products, but a set of 'Chinese Value' including design, intelligence, and safety.

Strategic cooperation with the England National Team, becoming the 2026 World Cup (Mexico/Canada/USA) broadcast partner, these moves seem to be marketing, but are actually a global resonance of brand values. The fighting, transcendence, and team collaboration in sports spirit aligns perfectly with Geely's brand core of 'Great due to joy' and 'Born Global'. Geely is using a subtle yet impactful way to make global users produce emotional identification with Chinese brands.

What did Geely do right?

While writing this article, I repeatedly thought about a question: In the fierce competition of 2026, why could Geely maintain year-on-year and month-on-month double growth for three consecutive months?

The answer may be hidden in the strategic synergy of 'One Geely'. Geely did not let each brand fall into internal friction, but built a multi-level matrix covering mainstream, high-end, and luxury. Each brand has a clear positioning, and at the same time can share the technical dividends of the group in three-electric, intelligent driving, and safety architecture.

More importantly, Geely maintained a kind of 'long-termism' stability. Whether it is continuous investment in the CMA architecture, or iteration of Thor hybrid technology, or refining the Qianli Haohan intelligent driving system, Geely did not seek success in haste, but was waiting for the 'critical point' of technology. When the market returned to rationality from frenzy, those solid technical reserves became the sharpest weapons.

Move Towards the New, Not Just Cars

Looking back at the 2026 Chinese automotive market, the first half of new energy is drawing to a close, and the second half of intelligence has just opened.

Geely's May performance report is not just a victory in sales, but also a victory in technology route. It tells us that the essence of the automotive industry has not changed: Good products are always the core, the ultimate purpose of technology is to serve people

From the Hangzhou Bay manufacturing base, to Italy's race tracks, to Australia's streets, Geely Automobile is telling a new story about 'China Intelligent Manufacturing' to the world with a steady and powerful pace. In this story, there are no exaggerated slogans, only respect for technology, sincerity to users, and the purest love for the 'car making' matter.

When technical belief becomes a habit, the explosion of sales is just a natural result. For Geely, 238,000 units is just a new starting point, the true stars and seas are still ahead.

对于追求“轻越野”生活方式的家庭来说，购车成本和日常使用开销是两大核心考量。北汽BJ30旅行家以超级置换价6.99万元起的极低门槛，搭配百公里综合油耗不超5升的出色经济性，给出了令人信服的答案。

购车成本：6.99万起，叠加多重礼遇

BJ30旅行家全系推出3万元置换政策，置换后起售价仅6.99万元。新上市的年度版型“高光版”置换后起售价为8.29万元。在此基础上，首任非营运车主可获赠价值6000元的整车终身质保，还有0首付金融方案、终身OTA免费升级、基础流量终身免费等五重尊享礼遇，进一步降低购车与后续使用成本。

油耗表现：实测低于5升，一箱油跑1000+公里

BJ30旅行家搭载北京越野自研的“三擎四驱六模HEV混动架构”，是中国方盒子SUV品类首款HEV混动车型。由41%热效率混动专用发动机、前后双电机组成的混动系统，可根据路况自动切换六种工作模式，始终保持高效运行。

近期，来自南非、印尼、阿联酋、波兰、墨西哥五国的汽车博主实测，BJ30旅行家在每个国家都跑出了百公里不超5升的油耗，一箱油续航超过1000公里。相比传统燃油SUV，每万公里可节省油费上千元；同时无需寻找充电桩，加油即走，每年可节省数十小时补能时间。

品质保障：15万公里拆解见证耐久性

低成本不等于低品质。在央视直播拆解中，一台行驶15万公里（相当于普通家庭近十年使用里程）的BJ30旅行家展现出优异状态：发动机涡轮积碳极少、动力充沛；变速箱无漏油、齿轮无磨损；电池包无鼓包衰减；底盘无锈蚀渗油。北汽株洲超级工厂的焊接、冲压、喷涂工序实现100%机器人自动化，涂胶误差不超过一根头发丝，从源头保证每台车的耐久可靠。

总结：BJ30旅行家以6.99万元起的超低购车门槛、不到5升的百公里油耗，以及15万公里验证的耐久品质，真正实现了“买得省、开得省、用得久”，是轻越野SUV市场中不可忽视的质价比之选。

6月12日，“十五万热爱，高光而来” BJ30旅行家十五万台下线暨高光版上市发布会在北汽株洲超级工厂举行。为进一步推进越野平权，让更多家庭享受轻越野生活，BJ30旅行家全系推出3万元置换政策，超级置换价6.99万元起。年度全新版型BJ30旅行家高光版上市，定位轻越野SUV，颜值、性能、体验全面跃升，超级置换价8.29万元起。在央视镜头下，北京越野还直播拆解了一台行驶15万公里的BJ30旅行家，全网见证车辆的可靠品质。

十五万全球用户认可，铸就BJ30旅行家高光时刻

作为中国轻越野SUV最快达成15万台的车型，BJ30旅行家依托北京越野六十余年专业沉淀，以超野、超大、超省的硬核实力，让世界看见中国。

“超野”是出发的底气。北京越野打造了行业领先的“三擎四驱六模HEV混动架构”，并率先应用于BJ30旅行家，成为中国方盒子SUV品类首款HEV混动车型。三擎动力是一台41%热效率混动专用发动机、前驱动电机和后驱动电机，分别擅长长距离节能、实时补能与瞬时爆发；智能四驱响应速度达30毫秒，0.5秒即可爆发峰值扭矩。六大模式可自动选择最优工作方式，动力始终处于最佳状态。配合能量中锁、四轮电子限滑及智电ATS全地形控制系统，轻松应对泥地、沙地等场景。

“超大”是出行的从容。BJ30旅行家三排七座布局，拥有2820毫米超长轴距、66%的超高得房率，以及1496升超大后备箱，后排纯平放倒秒变1.92米大床。B级方盒子超宽第三排空间，让1.8米成年人乘坐依然宽敞。全车38处储物空间，随身物品都有专属位置。全家出行自由，每个人都不将就。

“超省”是长久的陪伴。BJ30旅行家实现了省钱、省时、省心。近期，来自南非、印尼、阿联酋、波兰、墨西哥的五国汽车博主，实测国产SUV的油耗，BJ30旅行家在每个国家都跑出百公里不超5升的成绩，一箱油续航超1000多公里。无需找充电桩，加油即走，每年节省数十小时补能时间。同时，首任车主享整车终身质保，无高压电池包安全隐患，保养简便且配件充足，让每一次出发都无后顾之忧。

BJ30旅行家既是一台能带你奔赴山野的方盒子，还是一台能让你舒享生活的城市通勤SUV。轻越野SUV千篇一律，BJ30旅行家万里挑一！

BJ30旅行家高光版发布，迎来颜值、性能、体验三大高光时刻

值此十五万台下线之际，北京越野推出全新版型——BJ30旅行家高光版，在“超野、超大、超省”的基础之上，实现颜值、性能和体验全面跃升。

高光颜值，为不同人生阶段量身定制。BJ30旅行家高光版采用经典方盒子造型，硬朗气场与精致线条完美融，独有的五阙星环贯穿灯组，醒目帅气；全套电感潮改套件、专属星环轮毂，前后同色运动保险杠，尽显热爱与洒脱；全新橙色内饰和金属纹理饰板勾勒层次与品质，凸显温润底蕴。不同年龄段的用户都能在这台车上寻得热爱、遇见高光。

高光性能，动力与油耗兼得。BJ30旅行家高光版换装高性能、长寿命的专用AGM电瓶，循环寿命达普通电瓶的3倍；搭载保时捷同款涡轮增压技术，整车充电效率达99%；后电机功率从55千瓦提升至70千瓦，匝道汇入、路口起步、紧急避让，都能获得及时响应，给你坚守路权的底气。

高光体验，打造移动的舒适会客厅。相比普通SUV，BJ30旅行家车身更高，视野更开阔，还有座椅加热、通风、方向盘加热等功能，贴心舒适。系统可感应雨滴，自动关窗。64色氛围灯能随音乐节奏律动，给你独享舒缓情绪的空间。

BJ30旅行家高光版让你越野生活与城市通勤兼得，用一台车的从容，装下生活的两面，把每一个平凡的日常，都过高光时刻。

全网首拆十五万公里BJ30旅行家，央视鉴证真实品质

为回馈十五万车主的相伴与热爱，北京越野推出“3万超级置换政策”，置换用户和新购用户都可以享受。在3万元超级置换政策之上，北京越野还带来五重尊享礼遇.

真正的实力不畏惧严苛的审视。发布会现场，北京越野携手央视财经，对行驶15万公里的BJ30旅行家进行拆车直播，以真实车况展现耐久品质。同时，镜头深入探访北汽株洲超级工厂，见证中国智造如何从源头守住每一台车的卓越品控。

15万公里相当于普通家庭近十年的使用里程，BJ30旅行家拆开后：发动机涡轮干净积碳很少，动力输出依旧充沛， 变速箱外壳完好不漏油，内部齿轮也没有磨损坑洼，动力系统状态优异；电池包没有鼓包、漏液、内部变质衰减的情况，长久使用不用担心电池老化故障；副车架、悬挂摆臂没有锈蚀、渗油漏油问题，整个底盘平整度、规整度和新车差距很小，被动安全防护始终在线。这场直播用镜头证明，BJ30旅行家用料扎实、工艺可靠、耐久出众，能够给用户带来更低的维修成本、更长的换车周期，以及每一次出行的安心感。

十五万热爱，高光而来。作为越野世家，北京越野以多元产品矩阵精准布局，致力于让不同需求的用户都能找到最契合的出行伙伴。BJ30旅行家高光版以极致产品力与诚意价格，让每一份热爱都不被辜负，让每一次出发都闪闪发光；BJ40增程长续航版则以“可城可野极安全”的硬核实力，陪伴用户奔赴更广阔的天地。未来，北京越野将继续与车主并肩同行，奔赴下一程山川湖海，共赴每一个高光时刻。

After the integration of Zeekr and Lynk & Co, Geely moves again to "absorb" its incubated brands.

Recently, Geely Automobile announced a fully funded acquisition of three core companies under Radar Automotive for approximately 218 million yuan — Radar Automotive (Shandong), Radar Automotive Sales, and Thailand distribution company Radar Thailand. Upon completion of the transaction, Radar Automotive will officially merge into Geely China Star, becoming a core force in Geely's layout for the new energy pickup market.

Why merge a niche pickup brand into "China Star", which focuses on family use? Why, amidst intensifying competition in the new energy pickup sector, does Geely choose full acquisition rather than continued "laissez-faire"? Behind the 218 million yuan deal lies the most thorough execution of Geely's "One Geely" strategy — also a microcosm of Chinese car companies shifting from making additions to making subtractions.

 

 

Looking back to July 2022, Radar Automotive debuted as an independently incubated new energy pickup brand by Geely Holding, developing in parallel with brands like Geely, Volvo, and Zeekr initially. The first model, the all-electric pickup RD6, launched in November of the same year. Leveraging its differentiated outdoor ecosystem positioning and passenger-car design, Radar quickly entered the blue ocean track of new energy pickups.

Data shows that in just three years, Radar has continuously held the No. 1 market share in domestic new energy pickups, with the all-electric pickup segment share reaching as high as 98% at one point. Full-year sales in 2025 reached approximately 13,000 units, making it the only new energy brand in China to break into the top five in overall pickup sales across all categories.

However, the other side of growth is financial growing pains. The three companies under Radar involved in this acquisition showed divergent performance last year: Radar Automotive (Shandong) turned from profit to loss, with a net loss of 8.646 million yuan; Radar Automotive Sales turned loss to profit, with profits reaching 12.325 million yuan; The overseas Thailand company's loss expanded further, with a net loss of 10.697 million yuan, and the overall situation remains in the investment phase.

However, why is a brand still in the "growth phase" worth a full acquisition by Geely at this time? Regarding this, the official explanation is very direct: First, to secure a position in the blue ocean market, Radar has already seized the initiative. Directly acquiring a mature leading brand is far more efficient and cost-effective than cultivating from scratch; Second, internal integration will release significant synergistic effects.

 

 

In fact, the greater motive behind this deal was already hidden in Geely's "Taizhou Declaration". In September 2024, Geely Holding proposed "Strategic Focus, Strategic Integration, Strategic Synergy, Strategic Prudence, Strategic Talent", clarifying business sectors to reduce conflicts of interest and repeated investment.

Since then, over a year, integration actions have been implemented densely: Galaxy merged with Geometry; Zeekr and Lynk & Co completed equity transfer, establishing Zeekr Technology Group, which was subsequently incorporated into Geely Automobile as a whole... This acquisition of Radar merging into China Star is also a key move under Geely's development logic.

But why merge a pickup brand into "China Star"? As everyone knows, as Geely's high-end CMA series, China Star has always positioned itself in the high-end home market since its launch in 2021, covering popular models such as Preface and Monjaro L. The addition of Radar will supplement China Star with the pickup and outdoor ecosystem product sectors, enabling it to form an all-category layout of "Sedan + SUV + Pickup". At the same time, both parties can achieve deep synergy in three-electric technology, intelligent hybridization, channel networks, etc., accelerating product iteration. From independent incubation to returning to the main brand, Radar's trajectory happens to step on every beat of Geely's integration big year.

 

 

However, merging Radar into China Star and upgrading its strategic status from "testing the waters" to core does not mean the road ahead is smooth.

First, the track is becoming increasingly crowded. Great Wall Pickup global sales in 2025 exceeded 181,600 units, firmly holding the leading position in the domestic pickup market. BYD Shark Pickup overseas cumulative sales have reached 46,000 units, rapidly opening the market in Southeast Asia and Australia with hybrid rugged product power, and plans to officially return to the domestic market by the end of 2026. Changan is accelerating its layout of passengerized new energy pickups, and Chery is also accelerating the layout of pure electric and plug-in hybrid product matrices in the pickup sector. The niche track built by Radar Automotive relying on first-mover advantage is being constantly coveted and challenged.

Secondly, domestic market growth is weak. In Q1 2026, domestic new energy pickup sales were only 18,000 units, with penetration rate less than 10%, and growth rate far lower than the overall pickup market. In April 2026, new energy pickup sales were 7,000 units, a year-on-year decrease of 11%; Cumulative sales from January to April were 26,000 units, a year-on-year decrease of 2%, showing a trend where new energy pickup growth at the beginning of the year was slightly weaker than the overall growth of fuel pickups.

 

 

In contrast, the proportion of pickup exports has risen from 45% in 2024 to 53% in April 2026. Exports are replacing domestic sales as the main growth engine for the pickup market. This means whoever can get a foothold first in the overseas market can take the initiative.

And this might also be Geely's strategic consideration when acquiring Radar, simultaneously securing Radar Thailand — Thailand is the world's second-largest pickup market, where Japanese pickups have long dominated, while electrification is precisely the breakthrough point for Chinese brands to pry open this traditional fortress. At the March 2026 Bangkok Motor Show, Radar achieved an order of 2,569 units, a year-on-year increase of 283%, which has cast a note of strength in the local new energy pickup market. With Geely's mature international distribution network, Radar is expected to further radiate to Southeast Asia and even global markets.

 

 

But integration is only the starting point, the market is the endgame. 218 million yuan, Geely "absorbing" is not just a pickup brand, but giving a clearer "One Geely".

5 月 28 日，上汽車集團「全球第一億位用戶交車儀式」在海北外灘世界會客廳隆重舉行，隨著一輛融合尖端智能電動技術嘅智己 LS9 Hyper 正式交付，上汽車集團正式成為中國汽車工業史上首個累計產銷量突破一億輛嘅汽車集團，為中國汽車產業鐫刻下跨越時代嘅里程碑，更標誌著「中國製造」在全球汽車版圖中站穩高端引領地位。

億級時刻：一場跨越全球嘅接力交付

本次交車儀式以「億路同行」為主題，開創中國汽車品牌全球交付全新範式。主會場設於上海北外灘世界會客廳，同時聯動國內多城及海外多國，開啟跨大洲、多時區嘅「全球交付接力」，上汽車旗下十餘個整車品牌、十九款車型同步亮相，共同見證這一歷史性時刻。

儀式上，上汽車集團董事長王曉秋將第 1 億輛車 —— 智己 LS9 Hyper 嘅鑰匙，正式交付畀 Momenta 首席執行官曹旭東。作為上汽車智駕領域核心戰略夥伴，曹旭東成為「全球第一億位用戶」，象徵著智能汽車生態協同共贏、技術理念深度共鳴。與此同時，第 99999996 至 99999999 輛車型（尚界 Z7T、尚界 Z7、上汽車通用五菱華境 S、上汽車大眾 ID.ERA 9X）也完成集中交付，共同組成「億級時刻」嘅榮耀方陣。

從手工敲車到全球領航

一億輛產銷奇蹟，係上汽車 71 載深耕不輟嘅實業答卷，更係中國汽車工業從無到有、從弱到強嘅完整縮影。

1955 年，上汽車前身上海市內燃機配件製造公司成立，上海汽車工業正式啟航。1958 年，喺設備簡陋嘅弄堂小廠入面，第一代上汽車工匠僅憑榔頭、銼刀，手工敲製出第一輛「鳳凰牌」轎車，實現上海轎車製造「零嘅突破」，鑄就「草窩裏飛出金鳳凰」嘅奮鬥精神。

此後，鳳凰牌更名上海牌，至 1975 年形成年產 5000 輛轎車能力，成為當時中國最大乘用車生產基地之一，為民族汽車工業埋下自主創新嘅種子。

改革開放後，上汽車率先打破行業封閉，成為合資探路先鋒。1983 年，第一輛國產桑塔納組裝成功；1985 年，國內首家轎車合資企業上汽車大眾成立，開啟「市場換技術」先河。

通過國產化攻堅，桑塔納國產化率從 2.6% 飆升至 1996 年嘅 90% 以上，帶動全國 2400 家配套企業技術升級，構建起中國首個完整轎車零部件體系。1997 年，上汽車通用成立，創造 23 個月建廠出車嘅「上海速度」，現代化製造體系全面成型，上汽車穩居國內龍頭地位。

2006 年，上汽車推出自主品牌榮威，正式開啟自主創新征程。2016 年，全球首款互聯網汽車榮威 RX5 問世，率先定義「智能汽車」新物種，開啟中國汽車智能網聯新時代。

這一階段，上汽車堅持「合資 + 自主」雙輪驅動，一邊深化與大眾、通用合作，一邊投入超千億研發資金，攻克核心技術壁壘，自主品牌從無到有、從弱到強，逐步成為增長核心引擎。

面對汽車產業百年變局，上汽車加速「大象轉身」，全面向智能電動化轉型。2020 年，高端智能電動品牌智己汽車成立，聚焦高階智能駕駛與極致電動體驗。

本次交付嘅里程碑車型智己 LS9 Hyper，係上汽車技術積澱嘅集大成之作：搭載全線控四輪轉向、520 線超視域激光雷達 + 英偉達 Thor 晶片、全域 800V 高壓平台，首搭上汽車金標颶風三馬達，躋身 3 秒性能俱樂部；全球首發「內生安全」技術，築牢 AI 時代安全基石，全面預埋 L3 及以上高階智駕進化能力，代表中國品牌智能電動技術最高水準。

規模背後嘅硬核實力與用戶信賴

一億輛嘅背後，係上汽車覆蓋全球嘅硬核體系實力。國內，上汽車擁有完善嘅研發、製造、供應鏈體系，六大整車基地協同發力；海外，產品與服務遍布 170 多個國家和地區，累計交付超 700 萬輛，佈局 100 + 零部件基地、3000 + 經銷商網絡，建成倫敦等 3 大研發中心及泰國、印尼等 4 個製造基地，組建自營整車物流船隊，形成「研發 - 製造 - 銷售 - 服務」全鏈條全球化佈局。

從上世紀桑塔納國產化到如今智己 LS9 Hyper 技術領跑，上汽車始終秉持「懂車更懂你」理念，以技術創新築牢根基。近年來，上汽車累計投入超 1500 億元研發智能電動技術，擁有專利超萬項，在三電、智駕、智能座艙等核心領域實現自主可控，多項技術全球首發、同級領先，從「技術跟隨」邁向「技術引領」。

上汽車始終堅信：「一億輛不僅係數字刻度，更係一億份用戶信賴」。七十餘年來，上汽車累計服務全球超一億用戶，覆蓋家庭、商務、出行、物流等全場景，從代步工具到智能夥伴，上汽車始終以用戶需求為核心，將前沿科技轉化為可感知嘅出行體驗，贏得全球用戶認可與信賴。

上汽車累計產銷量突破一億輛，不僅係上汽車嘅榮耀，更係整個中國汽車工業、中國製造嘅集體榮光。

從產業維度看，這一里程碑標誌著中國汽車產業徹底告別「規模追趕」粗放時代，邁入體系制勝、科技引領、全球競逐嘅高質量發展新階段。上汽車嘅成長之路，係中國製造業從代工到自主、從引進到輸出、從本土到全球嘅典型縮影，為中國車企轉型升級提供寶貴經驗。

從全球維度看，上汽車成為首個躋身「億級俱樂部」嘅中國車企，打破海外品牌長期壟斷格局，重塑全球汽車產業競爭格局，彰顯中國品牌實力與自信，為中國汽車「走出去」注入強勁動力。

億級新起點，智電新征程

站喺一億輛嘅新起點，上汽車集團董事長王曉秋表示：「一億輛係階段性答卷，更係二次創業嘅全新起跑線」。面向未來，上汽車將堅持「技術創新 + 用戶至上 + 全球化佈局」三大核心戰略，加速向「用戶型高科技公司」轉型。

喺智能電動領域，上汽車將持續加碼研發，推出更多像智己 LS9 Hyper 一樣嘅標杆產品，鞏固技術領先優勢；喺全球化領域，將深化海外佈局，提升本地化運營能力，擴大全球市場份額；喺用戶服務領域，將以「懂車更懂你」為初心，打造全生命週期服務體系，與全球用戶共創美好出行未來。

七十餘載風雨兼程，一億輛載譽前行。上汽車用七十一年時間完成從手工敲車到全球領航嘅跨越，用一億輛產銷書寫中國汽車工業嘅輝煌篇章。未來，隨著智能電動化轉型持續深入，上汽車必將以更開放嘅姿態、更硬核嘅實力、更創新嘅精神，引領中國汽車產業邁向新高峰，喺全球舞臺上綻放更耀眼嘅中國光芒。

Auto-First｜Sammar

4:30 AM, Shanghai Jiangqiao Wholesale Market, Uncle Zhou's Wuling Rongguang starts on time. This is his 12th year in vegetable wholesale, and his seventh year with this car.

At the same moment, herders on the Qinghai-Tibet Plateau start their pickup trucks for the pastures, engineers in the Greater Bay Area get into IM cars for work, parents at the hutong entrance drive Volkswagen ID.3 to send children to school, and young merchants on the China-Myanmar border drive MG onto cross-border highways.

They don't know each other, yet they share an identity recorded in history. On May 28, SAIC Motor Group held the "Global 100 Millionth User" Vehicle Delivery Ceremony at the Shanghai North Bund World Living Room, officially becoming the first automotive group in the history of China's automotive industry to surpass 100 million cumulative production and sales.

The owner of SAIC's Global 100 Millionth Car Delivery is Momenta CEO Cao Xudong—the leading figure in China's intelligent driving field. With the identity of IM LS9 Hyper 001 car owner, he completed a two-way commitment with SAIC. The SAIC flagship large six-seater he chose—IM LS9 Hyper, Cao Xudong calls it the "bright pearl of China's automotive industry" in this era, a collection of SAIC's 70 years of manufacturing heritage and cutting-edge technology.

This unprecedented "Global Relay Delivery" ceremony is spreading this honor to every corner of the world.

In Auto-First's view, true commitment comes from the trust of 100 million people. True greatness is never shining alone, but letting all things grow. SAIC provided its own four answers.

In this noisy era where emotional value is held as the benchmark, SAIC quietly guards something more scarce: spiritual value.

In the current automotive public opinion field, emotional value is praised to the heavens. A color scheme, a sentence, or a live broadcast can trigger a carnival. But emotions solve small matters, spirit determines life and death. Strategic choices, century-long heritage, and industry breakthroughs all rely on spiritual value for steering. Large enterprises without a spiritual core, no matter how big the scale, are just loose sand.

In recent years, SAIC has had its own development rhythm, with highlights, but also experienced the climbing phase of dormancy and pressure. But users see a big brother with vision: like a big tree, rooting deep and sending nutrients high.

What SAIC gives back to users is a "symbiotic security". In this era full of uncertainty, people need certainty more than ever. With solid technical guarantees, full lifecycle reassuring services, and always-online safety protection, SAIC turns certainty into users' daily travel confidence base. This promise, precisely, is the most precious thing in the current time. No, it is spiritual value.

It is this spiritual determination that formed a 70-year two-way commitment between SAIC and users.

Viewing SAIC as a complete living system is the only way to truly understand its vision.

In ecology, the tropical rainforest is the most biodiverse ecosystem on Earth. Towering trees have deep roots and lush leaves, pulling the entire ecological chain upward; while bushes, vines, moss, and grass, though not dazzling, are the main force for nurturing soil and retaining water, and at the same time nurturing new greens.

What SAIC builds is just such an industrial rainforest, allowing differences and accepting symbiosis.

Wuling Hongguang MINI EV gave countless strivers their first car, Roewe i series protects the daily commute of working-class families, and MG lets young people touch driving pleasure at an affordable price. These products are just vivid footnotes of SAIC's social responsibility, nourishing the deepest soil and water of the entire automotive ecosystem.

From entry-level to luxury, from domestic to overseas, SAIC's product layout forms a gradient structure. Users can complete the full lifecycle migration from "first car" to "upgrading" within the same ecosystem. This vertical integration system capability is unique in the industry.

The "0" behind the price is the pressure to forge ahead, the "0" behind the 100 million user number is the heavy trust.

70 years of manufacturing accumulation is the deepest root of this rainforest. From parts supply to quality verification systems, SAIC precipitates every link of industrial manufacturing into a reusable technical foundation. This foundation is open to the entire ecosystem, allowing innovators not to start from scratch, allowing later generations to grow on the shoulders of giants.

More importantly, this rainforest opens its branches outward to exchange energy with the external environment. From building an innovation technology center with Audi, partnering with Huawei Qiankun, to deep co-creation with Momenta, OPPO, Horizon, etc., SAIC never makes "ecosystem islands".

From MG's global first mass-produced semi-solid-state battery, IM LS8's steer-by-wire + rear-wheel steering chassis technology, to Roewe's "Home Beyond" series opening 2000+ SOA atomic-level interfaces, SAIC has achieved key leaps from laboratory to mass production cars in underlying core technologies such as power batteries, smart chassis, and electrical architecture.

Without this big tree's burden-bearing progress and industrial support, many new species could not grow so fast. From supply chain to manufacturing standards, from talent flow to technology spillover, SAIC's 70-year accumulation has become the public wealth nourishing the entire industry.

The deeper the roots, the more lush the canopy; the smoother the cycle, the stronger the vitality. SAIC's rainforest ecosystem's ultimate goal is not to become the biggest tree, but to let every life growing on this soil find its own sunshine.

Between 100 million users and SAIC, it is a 70-year two-way commitment. More than 70 years ago, when SAIC's first car rolled out of the factory, no one could predict this number.

1955, Shanghai Internal Combustion Engine Parts Manufacturing Company was officially established; 1958, the first Phoenix-brand sedan was successfully test-made; 1983, taking advantage of the Reform and Opening Up wind, SAIC pioneered the industry's joint venture cooperation, the first domestic Santana was assembled successfully; 2016, SAIC pioneered the creation of the world's first Internet car.

Over 70 years, SAIC and many Chinese car companies witnessed and promoted China's automotive industry from nothing to something, from weak to strong, from following learning to innovation leadership. At the same time, supporting this 100 million vehicles is 150 billion R&D investment, 26,000 valid patents, solid-state battery from laboratory to mass production, digital chassis redefining driving experience.

When China's automotive annual production and sales stand on the step of 30 million vehicles, we need not only sales hits, but a soil that can be endless. SAIC tells us with 100 million commitments: A great enterprise's ultimate vision is not to make itself reach the clouds, but to make itself the foundation for all things to grow.

In Auto-First's view, this delivery ceremony itself is SAIC's fourth answer: a paradigm shift from "enterprise-led" to "users and ecosystem co-evolution".

It completely subverts the traditional automotive industry's "milestone press conference" model. No long speech from leaders, no boring product presentation, instead replaced by a "flowing narrative epic" with real users as protagonists, global relay as the form, technical strength as the background color, and emotional resonance as the core. From Shanghai North Bund to London, Jakarta, Singapore, 15 brands, 19 car models, real-time continuous delivery spanning the Asia-Europe continent is itself the most impactful brand communication—it makes the cold industrial number "100 million" perceivable, tangible, and relatable.

More worthy of praise is that the ceremony truly places users in the center of the stage: Founder Luo Zhenyu witnessed the rollout as Hua Jing S No. 001 Experience Officer, former German national footballer Yang Chen resonated with ID.ERA 9X's long-termism, post-85s village secretary Pang Fuqiang used Wuling Rongguang Pure Electric to deliver meals for left-behind elderly, charity blogger Liu Jia and Buick Zhijing E7's "Perfect Score Cabin" glimmer guardian on the same frequency... These real stories make "know cars, understand you better" no longer just a slogan, but a vivid testament to 100 million trusts.

This "Global Relay Delivery" is a never-before-seen attempt in the history of Chinese car brand communication. It attracted attention with ritual innovation, triggered emotional resonance with user stories, established technical trust with system presentation, and depicted ecosystem vision with open cooperation. It successfully transformed a brand launch into a public narrative event belonging to China's automotive industry, all users, and the smart electric era. This is the true big factory vision.

Looking back from the 100 million user node, SAIC's story has never been the legend of a lone warrior, but the epic of a group. From the first Phoenix-brand sedan to the first 100 million smart electric vehicle, from the workshop by the Huangpu River to the global map spanning more than 170 countries, SAIC proved with 70 years a simple truth: A great enterprise's greatness lies not in scale, but in vision; not in voice, but in responsibility; not in the spotlight for a time, but in a sustainable ecosystem.

When the public opinion field is sinking, it has long crossed the marsh, leaving behind a lush rainforest. Those skeptics from the past won't understand: A true big enterprise never fears cycles, because it is part of the cycle itself; never fears ups and downs, because its roots have long sunk into the soil of the era.

100 million users, 100 million choices, 100 million commitments. In this era of habitual forgetting, SAIC chose to be remembered not by creating noise, but by becoming reliance.

Automotive Talk News｜May 28, under the gaze of all within the Shanghai North Bund World Lounge, the ceremony for SAIC Motor to deliver the first 100 millionth user's vehicle was officially held. With the completion of IM LS9Hyper delivery, SAIC Motor's cumulative production and sales successfully surpassed 100 million vehicles, becoming the first automotive enterprise in China's industry to enter the "Hundred-Million-Unit Club".

This global relay delivery linking domestic and overseas is not only the highlight moment of SAIC Motor's over 70 years of deep ploughing in the automotive industry, but also an era microcosm of China's automotive industry going from a stumbling start to walking the world, setting up a new milestone for the development of China's automotive industry.

Looking back at the path, SAIC Motor's development trajectory has always resonated in sync with the growth of China's automotive industry. In 1955, the Shanghai Internal Combustion Engine Parts Manufacturing Company was established, unveiling the curtain of Shanghai's automotive industry development. In 1958, the first generation of automobile workers, relying on hands and hammers, created the "Phoenix" brand sedan, achieving a zero breakthrough in Shanghai sedan manufacturing in one move.

In the over 70 years, SAIC Motor has taken one step at a time, fully witnessed and promoted China's automotive industry completing a leap-and-bound transformation from nothing to something, from weak to strong, from following via joint ventures to leading independently.

After Reform and Opening Up, SAIC Motor was the first to open the door to foreign cooperation. In 1983, Santana officially went off the production line, opening a new chapter of domestic automotive joint venture cooperation; in 1997, SAIC-GM was landed, took only 23 months to complete factory construction and vehicle production, created the industry-renowned "Shanghai Speed".

While accumulating technology and experience through joint venture cooperation, SAIC Motor never gave up the original intention of independent development. In 2006, Roewe brand was born, blowing the bugle for independent brand assault; in 2016, the world's first Internet Roewe RX5 was launched, was the first to integrate smart connectivity into mass mobility; in 2020, high-end intelligent electric brand IM Motors was established, anchoring high-end pure electric and high-end intelligent tracks, completing the comprehensive advancement of the brand matrix towards new energy and intelligence.

In the over 70-year journey, "Knows Cars, Knows You" is the core user philosophy consistently pursued by SAIC Motor. So-called "Knows Cars", is the endless research and breakthrough on core technologies; "Knows You", is transforming frontier technology into high-quality mobility experience within reach. From Santana localization assault, to deep technology co-creation in the Joint Venture 2.0 stage.

From the first-generation Internet car, to the landing of frontier technologies such as full-steer-by-wire chassis, solid-state batteries, and in-car AI large models, SAIC Motor's every technological iteration, balances hardcore strength and user needs. Behind the 100 million production and sales figures, lies trust from 100 million users, and also is the heavy answer sheet SAIC Motor delivered by sticking to its original intention.

The 100 millionth model delivered this time, IM LS9Hyper, is considered a masterpiece of SAIC Motor's over 70 years of technology accumulation, and also marks SAIC Motor officially leading the new "Three Major Components" development direction for new energy vehicles. The car is equipped with the same level's first full-steer-by-wire four-wheel steering chassis, high-end intelligent driving hardware of 520-line ultra-vision LiDAR paired with Nvidia Thor chip, and full-domain 800V high-voltage platform and Star Super Range Extender System, hardware architecture fully supports continuous upgrades of L3 and above high-end autonomous driving.

In terms of power, SAIC Gold Label Hurricane Tri-motor support, allows the vehicle to join the Performance 3-Second Club; in the safety field, IM jointly launched the "Endogenous Security" technology globally with Zijin Mountain Laboratory, taking automotive safety from traditional physical protection to information and system safety levels, fortifying the automotive safety defense line in the intelligent era.

It is worth mentioning, SAIC Motor's global 100 millionth user is Momenta CEO Cao Xudong, and Momenta is exactly SAIC Motor's core strategic partner in the intelligent driving field. From a partner of technology co-creation, to a car owner personally choosing the product, this identity transformation, is not only the best verification of the depth of technical cooperation between the two sides, but also highlights the strong attraction of SAIC Motor's intelligent automotive ecosystem.

The birth of the 100 million-unit achievement relies on SAIC Motor's perfect full value-chain system and diversified brand matrix. Currently SAIC Motor has built six business sectors: complete vehicles, parts, mobility services, auto finance, international operations, and innovative technology, forming a closed-loop development ecosystem.

Market data shows, SAIC's cumulative sales from January-April 2026 reached 1.302 million units, topping the sales chart of Chinese automakers for four consecutive months.

Among which independent brand sales reached 910,000 units, accounting for nearly 70%, New energy vehicle sales 412,000 units, Overseas sales 459,000 units, year-on-year growth rate as high as 50.2%, Independent brands, New Energy, and Overseas sectors all exerted force comprehensively, growth momentum is strong.

In this global relay delivery event, over 10 complete vehicle brands under SAIC Motor and 19 models were launched simultaneously, covering all travel scenarios. SAIC Passenger Cars, Wuling, Maxus, Hongyan, Sunwin and other independent brands bloomed at multiple points, products covering passenger cars, commercial trucks, passenger buses, etc.; Joint venture brands such as Volkswagen, Audi, Buick focused on displaying "Joint Venture 2.0" transformation results.

Volkswagen ID.ERA9X equipped with Momenta's latest intelligent driving model, delivery volume in the first month of launch exceeded 7,000 units; Audi E7X rushed to become the brand's first L3 autonomous production vehicle globally; Buick Vision E7 built on a new architecture, sales broke 10,000 in one month of launch, Joint venture brands achieved a brand-new breakthrough in electrification and intelligence tracks.

This delivery event spanned mountains and seas, Domestic cities such as Nanjing, Liuzhou, Taiyuan, and overseas countries such as UK, Indonesia, Singapore linked up simultaneously, vividly demonstrating SAIC Motor's profound global layout strength. As a pioneer of Chinese automakers "going global", SAIC Motor has laid out over 100 parts production bases overseas, over 3,000 dealer outlets, built three overseas R&D centers and four complete vehicle manufacturing bases; its subsidiary Anji Logistics owns 42 Ro-ro ships and 8 international routes, shipping network reaching the globe.

Nowadays, SAIC Motor products and services cover over 170 countries and regions, overseas cumulative sales broke 7 million units.

Its MG brand has even become a benchmark for Chinese car overseas expansion, ranking first in European sales of Chinese brands for 11 consecutive years, 2025 European annual sales broke 300,000 units, and is also the first Chinese automotive brand to break one million cumulative sales in Europe and UK markets. Relying on the "Glocal Global Localization" strategy, SAIC Motor is accelerating from purely product overseas, turning towards value-chain overseas of technology, capacity, and service integration, making "Chinese Intelligence" stand firm in the global market.

Always centering on users, is the core code for SAIC Motor to transcend the era cycle. At this delivery gala where users are the protagonists, car owners' stories of different identities and fields, interpret the deep connotation of "Knows Cars, Knows You". Knowledge creators, professional athletes, public welfare bloggers, ordinary family users, logistics practitioners……

Consumers from all walks of life choose SAIC vehicles, their travel needs, life concepts, and SAIC Motor's product concepts merge and coexist, making cold industrial products possess warm humanistic warmth, and also giving the 100 million production and sales figures the most vivid footnotes.

Production and sales exceeding 100 million, is not the end point, but a new starting point for SAIC Motor facing the "Second Entrepreneurship" of the intelligent electric era. As early as 2014, SAIC Motor followed the national strategy closely, and was the first to comprehensively transform towards the new energy track. Experiencing 12 years of deep ploughing, SAIC Motor completed the transition from single-point breakthrough to whole-category, whole-market coordinated development, Independent and Joint ventures advancing together, Passenger cars and commercial vehicles flying together, Domestic market and Overseas market exerting force bidirectionally.

From the difficult start in 1955, to production and sales exceeding 100 million in 2026; from the first "Phoenix" brand sedan appearing, to brands like IM, MG galloping globally. Over 70 years through wind and rain, SAIC Motor witnessed the rise of China's automotive industry, and also promoted the industry forward with its own hard work.

Standing at the 100 million-unit new starting point, SAIC Motor will continue to adhere to the philosophy of technological innovation and user-first, walking hand in hand with billions of users globally, continuing to break through on the new intelligent electric track, writing a brand new chapter for China's automotive industry going global.

當王曉秋把上汽車集團全球唯一嘅「第 1 億輛」精品定制車模交到 Momenta CEO 曹旭東手中時，現場冇刻意煽情嘅倒計時，亦冇不斷跳動嘅數字大屏。

嗰係專門為「第 1 億輛」打造嘅典藏紀念車模，安靜咁擺喺聚光燈下。鏡頭掃過現場，有人舉起手機拍照，有人鼓掌，仲有人低聲交流。相比好多企業慣常嘅「里程碑時刻」，呢場儀式顯得甚至有一啲克制。

但恰恰係呢種克制，令「第 1 億輛」呢件事本身，顯得格外真實。

因為大家都知道，這唔單止係上汽車嘅「第 1 億輛」，某種程度上，佢亦係中國汽車工業嘅「第 1 億輛」。

從黃浦江邊敲出第一輛鳳凰牌轎車，到今日中國車企第一次邁過「億輛」門檻，中國汽車工業花咗七十幾年。而比起「行咗多遠」，外界更關心嘅，其實係另一個問題：行到今日之後，中國汽車產業下一步會去邊？

亦係呢場交付儀式真正嘅意味。佢看似係喺回顧歷史，但實際上始終喺度討論未來。

一場交付儀式裏嘅產業變化

如果仔細睇呢場直播，會發現一個好有趣嘅細節：佢冇按照傳統汽車發布會嘅方式展開。冇長時間嘅數據展示，冇密集嘅參數講解。相反，整場直播好似係不斷切換場景嘅「接力」。

上海、柳州、倫敦、雅加達、新加坡……唔同品牌、唔同車型、唔同用戶，串聯進同一個敘事中。

而呢啲用戶，亦唔止係傳統意義上嘅購車者。有人係科技博主，有人係公益創作者，有人係海外年輕用戶，有人係物流企業，仲有人，係智能駕駛公司嘅創辦人。

呢種安排本身，其實已經好能說明今日汽車產業嘅變化。過去，汽車更多係一個標準化工業產品，而今日，佢開始變成一種連接生活方式、技術生態同智能能力嘅入口。

所以，第 1 億輛車點解係智己 LS9 Hyper？

因為佢唔係一輛單純強調銷量意義嘅車型，亦唔係一輛象徵「歷史收藏」嘅舊車，而係一輛代表上汽車當下最核心方向嘅智能電動車。

佢身上集合嘅，唔單止係新能源動力，更係智能駕駛、軟件架構、AI 交互，以及生態協同能力。換句話講，上汽車並冇將「第 1 億輛」停留喺對過去嘅致敬，而係明確咁指向未來。

汽車業已經唔係傳統製造業了

直播過程中，上汽車集團副總裁、總工程師祖似傑回顧咗上汽車 70 年發展歷程。佢其實冇過多渲染「第 1 億輛」呢個關鍵詞，而係將整個過程概括成三個階段：改革開放前嘅起步探索、改革開放後嘅合資合作，以及 2000 年前後開始自主品牌嘅發展。

從鳳凰牌，到桑塔納，再到榮威、MG、智己，呢其實對應住中國汽車工業唔同階段嘅任務。最早，係建立工業基礎；後來，係學習現代汽車工業體系；再後來，則係形成自己嘅研發、品牌同技術能力。

而今日，中國汽車產業顯然已經進入新嘅階段。呢個階段入面，問題唔再只係「能不能造車」，而係：未來嘅汽車，究竟應該由邊位定義？

而喺直播中交付嘅各款上汽車，或者就係上汽車畀出嘅答案。

佢哋代表嘅係上汽車乃至中國汽車產業對下階段競爭方向嘅判斷：智能化電動車，正成為車企新嘅核心競爭領域。

汽車產業專家趙福全講過一句好值得反復揣摩嘅話：「汽車業已經唔係傳統製造業了。」

佢話，而家嘅汽車產業，已經從原來簡單嘅上下游關係，變成咗一個生態化產業。佢唔僅涉及製造，仲涉及通訊、交通、城建、AI，以及更多智能產業嘅融合。

呢句話，係今日整個行業變化嘅核心。

過去，一輛車最重要嘅能力，係引擎、變速箱、底盤；後來，係電池、電機、電控；而今日，越來越多人消費者真正感受到嘅，已經變成智能駕駛、座艙交互、軟件體驗、AI 能力，以及整車持續 OTA 更新。

汽車，正由「機械產品」變成「智能終端」，而呢種變化，亦正喺度重新塑造汽車企業本身。

合資 2.0，唔只係「合作」

直播中，祖似傑話，進入智能電動時代後，上汽車同全球品牌嘅合作，已經進入「共同創造」階段。呢其實好重要，因為過去好多年，外界談中國汽車工業，總會提到一句說話：「市場換技術」。

但而家，呢套邏輯已經開始變化。中國市場唔再只係全球車企銷售產品嘅地方，佢開始成為定義產品嘅地方。

原因其實好簡單：全球最完整嘅新能源產業鏈，喺中國；最激烈嘅智能駕駛競爭，喺中國；最大嘅智能電動車消費市場，亦喺中國。因此，無論係大眾汽車、奧迪，定係通用汽車，都必須重新了解中國市場。

呢種變化，喺當日交付嘅車型入面已經好明顯。AUDI E7X、別克至境世家、大眾 ID. ERA 9X，呢啲產品已經唔再係過去嗰種簡單嘅「全球車型國產化」，佢哋越來越深咁融入中國智能化生態、中國用戶需求，以及中國技術能力。

所以，今日再談「合資」，其實已經唔係單向輸入，而係雙方共同定義下一代產品。某種意義上講，亦係中國汽車產業位置變化嘅體現。

過去，中國汽車工業更多係喺「學習」；今日，中國企業開始參與「定義」；而未來，中國汽車產業將進一步參與全球智能出行規則同技術方向嘅塑造。

從「規模」走向「能力」

有意思嘅係，直播中無論係祖似傑，定係幾位專家，都反覆提到一個詞：生態。

祖似傑提到，上汽車同華為其實好早開始合作，從 5G 通訊時代已經好多交流。後來隨著智能汽車嘅發展，雙方合作自然越來越深入。

佢話，而家汽車產品已經發生好大變化，通訊技術、互聯網技術、電子技術都會用到汽車上，「任何一間可能都做不到」。因此，需要共同將中國新能源智能汽車生態做好。

呢句話其實好現實。因為智能汽車時代，已經好難再依靠單一企業完成所有能力嘅構建。

過去，傳統車企更多好似一個封閉體系，競爭核心係製造規模同供應鏈效率；而今日，汽車產業越來越好似一個開放平台。晶片、AI、演算法、軟件、雲端、地圖、通訊……每一個環節都需要新嘅協同關係。

這亦意味著，中國汽車產業正從「規模競爭」轉向「能力競爭」。

過去呢些年，中國汽車產業已經證明咗一件事：中國可以建立世界級規模嘅汽車工業。「第 1 億輛」本身，就係呢種工業能力嘅集中體現。

但今日嘅問題已經變咗。接落嚟，比拼嘅唔再只係產量、銷量同市場份額，而係邊個能夠建立真正可持續嘅技術能力；邊個能夠形成全球化品牌；邊個能夠掌握下一代智能汽車嘅話語權；邊個又能夠將製造、軟件、AI 同生態真正融合起來。

因此，今日嘅競爭，亦越來越唔似過去嗰種「企業對企業」嘅競爭，而好似「生態對生態」嘅競爭。邊個能夠將更多能力組織起來，邊個能夠形成更高效嘅協同，邊個才能真正建立長期優勢。

亦係點解，第 1 億位用戶揀曹旭東，會顯得有象徵意味。因為佢其實喺度表達：未來汽車產業最重要嘅競爭力之一，就係生態能力。而上汽車之所以揀智己 LS9 Hyper 作為第 1 億輛來交付，亦恰恰因為佢本身係呢種能力體系嘅產品。

佢唔係單一製造能力嘅結果，而係智能駕駛、AI 演算法、軟件平台、供應鏈體系，以及用戶數據共同協同後嘅結果。

某種意義上，佢好似一個「移動智能終端」，而唔只係傳統意義上嘅汽車。

亦係點解，整場交付儀式雖然不斷回顧歷史，但始終帶住一種好強嘅「未來感」。因為今日嘅中國汽車產業，已經行到一個新嘅節點。

未來唔會自動到來，佢係喺一次次技術更新、產業協同同用戶揀選入面，被塑造出嚟嘅。

Pada awal Jun, 2026 Rali Antarabangsa Lingkaran Tarim China telah selesai. Kali pertama kali beraksi sebagai pasukan pengilang, pasukan Kenderaan Off-road 212 menggunakan kereta pengeluaran massal T01 yang hampir dalam keadaan asal kilang untuk menamatkan keseluruhan laluan 7,500 km — Satu-satunya jenama yang menamatkan 100% perlumbaan di kalangan pasukan pengilang kumpulan pengeluaran T2.1, merebut dua kejuaraan dan satu naib juara di sepanjang segmen SS10 hingga SS13, akhirnya menerima tempat kedua sebagai pasukan pengilang kumpulan.

Arena mengesahkan kekuatan sebenar

Kenderaan yang bertanding pada asasnya adalah enjin dan sistem pemacu T01 yang dijual di pasaran: Enjin 2.0T (185kW/410N·m) + ZF 8AT + Sistem 4WD Terbahagi Masa BorgWarner, Mod 4L membesarkan tork sebanyak 2.64 kali. Rangka tidak terbawa, gantung hadapan dan belakang keseluruhan (lima batang penghubung) adalah asas keberanian ia berlari di Rali Lingkaran Tarim — Struktur ini rugi dari segi keselesaan di jalan raya, tetapi di kawasan lubang bom gurun Gobi dan laluan paksi bersilang, ketahanan toloknya kuat, badan kereta sukar berubah bentuk.

Menamatkan perlumbaan tanpa kerosakan mekanikal besar dalam persekitaran beban tinggi, suhu tinggi dan berdebu selama 17 hari berturut-turut, sekurang-kurangnya ia menunjukkan kebolehpercayaan asas sistem kuasa dan suspensi ini telah melalui ujian yang jauh lebih ketat berbanding penggunaan harian, bukan sekadar kata-kata pemasaran.

212 mengumumkan pelancaran pakej pengubahsuaian Rali Lingkaran Tarim di kedai rasmi (Perisai suspensi, rim anti-lepaskan, ban off-road, dsb.), dan melancarkan perekrutan pemandu pengguna Rali Lingkaran Tarim 2027, bekerjasama dengan Han Wei untuk menubuhkan Akademi Latihan Off-road Juara — Berupaya menyambungkan sumber perlumbaan dengan pengguna biasa, bukan sekadar berhenti di tahap pendedahan jenama.

Dakar, Perlumbaan Hutan Sabah Malaysia, Alxa T3 telah dimasukkan ke dalam perancangan, sama ada "mendorong penyelidikan melalui perlumbaan" dapat meningkatkan kualiti kereta pengeluaran massal, baru itu adalah bab seterusnya yang perlu dibuktikan oleh 212.

Ringkasan satu ayat: Jika anda jelas mahu seekor kenderaan Off-road keras berangka, sepanjang tahun anda benar-benar boleh memandu di jalan tidak berturap beberapa kali, T01 adalah salah satu pilihan sah yang masih mempertahankan gantung hadapan dan belakang keseluruhan di kalangan kelas 150,000 pada masa ini.

Recently, the State Administration for Market Regulation officially announced the list of the first batch of National Quality Standard Laboratory cultivation construction projects. The "National New Energy Vehicle Quality Standard Laboratory" declared by SAIC-GM-Wuling Motor Co., Ltd. successfully entered the list, becoming the only state-quality standard laboratory approved for construction declared by an automaker. This marks that the enterprise has entered a new national stage in the construction of the new energy vehicle quality technology system.

The National Quality Standard Laboratory is a national-level technical innovation platform established according to the "Outline for Building a Quality Powerhouse". It mainly undertakes tasks such as basic research and application of major industry quality standards, development and promotion of high-level quality standards, and cultivation and gathering of quality standard talents. It has important strategic significance for promoting the construction of a Quality Powerhouse.

[SAIC-GM-Wuling "National New Energy Vehicle Quality Standard Laboratory" Successfully Selected]

The "National New Energy Vehicle Quality Standard Laboratory" approved for SAIC-GM-Wuling gathers over 4,000 R&D personnel, including PhDs, Master's holders, and foreign experts. It features multiple national-level innovation platforms such as a Postdoctoral Research Station, National Enterprise Technology Center, and National Industrial Design Center. It possesses 14 laboratories of international first-class standards, covering full-chain verification capabilities in Three-Electric Systems, Crash, NVH, EMC, Thermal Management, Intelligent Connected Networks, and Lightweight Materials. It has received 275 CNAS accreditations (including 81 international ECE accreditations) and possesses full-link testing capabilities from whole vehicles to components.

Relying on scenario data from 32 million base users and a big data center for million-vehicle level new energy vehicles, the laboratory can replicate users' real usage conditions, achieving full-chain quality prediction and closed-loop iteration from R&D testing to user usage. It fully supports the experimental verification of new energy vehicle electrification and intelligence technologies.

[Vehicle Test Site]

[Crash Laboratory]

[Three-Electric System Laboratory]

Currently, the laboratory has formed a batch of world-first, internationally leading, and industry-advanced landmark achievements. These include the world-first Intelligent Island Manufacturing System, which was selected for the country's first batch of "Pioneer-level Smart Factory" cultivation list; the Hongjing S passed the industry's first 80km/h side collision 15m high slope drop challenge; the Shenlian battery achieved a 76.6 billion km zero spontaneous combustion record. In addition, Wuling Air EV safety design was incorporated into ASEAN official technical specifications, and the DC charging standard obtained Indonesian SNI certification, achieving a "zero breakthrough" for Chinese vehicle enterprises in the ASEAN standard-setting field, successfully breaking the barriers of US, European, and Japanese standards.

[Hongjing S Passes Industry's First 80km/h Side Collision 15m High Slope Drop Challenge]

This selection in the first batch of National Quality Standard Laboratories is the result of SAIC-GM-Wuling's long-term persistence in positive R&D and deep cultivation of quality infrastructure construction. It means that the enterprise's new energy vehicle quality technology standards will align with the highest national benchmarks, achieving a key leap from "making good cars" to "defining good car standards", truly realizing technological autonomy, standard autonomy, quality autonomy, and controllable safety. At the same time, the laboratory will achieve technical breakthroughs, standard leadership, experimental verification, and industry empowerment through innovative quality management and service models, allowing "Chinese Standards" to go global along the industrial chain, contributing Wuling's strength to the "Belt and Road" standard connectivity. For users, the National Quality Standard Laboratory will become the "highest verification field" for SAIC-GM-Wuling product quality - from Three-Electric safety to body structure, from intelligent connectivity to whole vehicle durability, every model will undergo rigorous refinement under a high-standard, high-starting-point quality system.

Looking to the future, SAIC-GM-Wuling will use the construction of the National Quality Standard Laboratory as strategic support, promoting Chinese new energy vehicles from scale leadership to standard leadership, bringing higher quality mobility experiences to global consumers.

Article | Auto Expert Compilation

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May 21, the opening ceremony of the 12th Chengdu International Auto Parts and Aftermarket Service Exhibition and the China Auto Ecosystem Partners Conference was held at Century City New International Conference and Exhibition Center in Chengdu. This event, themed "Leading the Trend 2026: A Must-Do, Taking a Step Ahead", focused on two current hot topics "Automotive Modification Industry Supply Chain" and "Automotive Complete Vehicle & Parts Industry Going Global", gathering industry elites to discuss the industry's future, injecting strong momentum into the high-quality development of the Southwest automotive industry.

During the keynote speech session, Xu Changming, former Deputy Director of the National Information Center and Senior Economist (Positive Level), believed that China's auto exports are at a historical leap stage, and the underlying logic for future growth is solid - release of demand in emerging global markets, qualitative change in competitiveness of Chinese brands, and active going global of the whole industry chain. Despite volatile factors such as trade friction and local protection, the trend of internationalization is irreversible. Enterprises should focus on quality and service, avoid vicious competition, promote the upgrade from "Complete Vehicle Export" to "Ecosystem Going Global", and achieve sustainable, upward global development amidst fluctuations.

The following is the speech transcript (compared based on recording by Auto Expert):

Respected guests, good morning! I am very happy to share my views on auto export and internationalization trends with you today.

This chart shows that during the "14th Five-Year Plan" period, China's auto exports achieved leapfrog development. Before 2020, for about ten-plus years, auto exports were stable at around 1 million vehicles. In 2021 it reached 2 million vehicles, and last year it reached 7.1 million vehicles. In five years, it increased by 6 million vehicles, which is a major trend. In the first four months of this year, exports reached 3.18 million vehicles, up 62% year-on-year, another year of rapid growth. China has large export volumes in major global regions and countries. Among them, exports to Asia are the highest, reaching 3 million vehicles last year, followed by Europe. At the country level, exports to three countries exceed 500,000 vehicles, exports to five countries are at the 300,000 vehicle level, and exports to more than ten countries are between 100,000 and 200,000 vehicles. Overall, China's export distribution globally is relatively balanced.

Everyone is concerned about the export trend in the next five years. We judge that in the next few years, China's auto internationalization will still maintain a relatively good development trend. There are three reasons:

Reason One: The potential of international markets is huge, providing potential opportunities for China's auto exports.

This chart shows the change in global auto market sales over the past twenty-plus years. Actually, going back forty years, from 1960, global total auto sales increased by 10 million vehicles every ten years. The fastest recent growth was from 2011 to 2017, increasing by 20.2 million vehicles in seven years. Why so fast? Because China and India, two major population countries, saw synchronous market growth in these seven years - China doubled, and India's market also rose. During the "14th Five-Year Plan" period, the past five years saw recovery growth from the pandemic, with the global market increasing by 13 million vehicles, of which China accounted for over 6 million vehicles, and we shared a larger portion of the increase. More critically, the growth of the global market mainly comes from emerging market countries. The two curves in the chart, blue represents mature markets, red represents emerging markets. Mature markets are stable at 40 million vehicles, no growth in twenty years, and even slightly declining in recent years; while emerging markets grew from over 9 million vehicles to over 40 million vehicles. Starting from 2021, consumption in emerging market countries surpassed mature markets. The characteristic is: purchasing power is not strong enough, but they want to buy cars. Therefore, Chinese cars have a market in models with moderate prices and higher performance/quality, and this market will grow relatively fast in the future.

Research on the basic law curve of auto demand: The horizontal axis is GDP per capita, the vertical axis is vehicle ownership per 1,000 people. The basic law is: when GDP per capita is between 1,000 and 3,000 USD, as long as the economy grows, ownership per 1,000 people rises, generating a large amount of new demand every year; after exceeding this range, ownership per 1,000 people no longer grows, mainly shifting to replacement demand. There are still many countries in the world at the bottom left - low GDP per capita, low ownership per 1,000 people. As long as these countries' economy grows in the future, demand will grow.

Looking at specific regions: Latin America, 660 million people, total sales last year 4.25 million vehicles. China has 1.4 billion people, Latin America is about half of China, according to China's per capita purchasing level, its sales should reach 12 million vehicles, but now it is only over 4 million vehicles, huge potential. Middle East region, 380 million people, sales last year 3.43 million vehicles, according to China level should reach around 7 million vehicles. ASEAN region, nearly 700 million people, sales last year only 2.8 million vehicles, sales corresponding to half of China's population should be 12 million vehicles, therefore huge growth space. Africa 1.5 billion people, more than China, sales last year only 1 million vehicles, not even a fraction of China's, potential is even greater. Of course, the prerequisite is economic growth. So, as long as the global economy, especially emerging market countries' economy grows, auto demand has great space, and these markets are exactly where Chinese cars have competitiveness.

Reason Two: The competitiveness of Chinese brand cars globally has improved rapidly, reflected in data performance and reputation.

First look at data: In 2020, for every 100 cars sold in overseas markets, Chinese brands only accounted for 0.8 cars. By last year, this number rose to 6.5 cars, growth was very fast. The share in emerging markets is higher, slightly worse in mature markets. The line below is our share per 100 cars in developed country markets, although also rising, overall share is low, less than 3 cars. But in emerging markets, for every 100 cars sold, we account for 13.6 cars, basically reaching Japan's level. Look at EVs, competitiveness is stronger: for every 100 EVs sold in overseas markets, we account for 18.7 cars; for every 100 fuel cars sold, we only account for 4 cars. EVs also account for nearly 10% in mature markets, and still growing. In emerging markets, for every 100 EVs sold, we account for over 50 cars, more than half are Chinese brands. Thirty years ago, the EV market was dominated by Germany, Japan, South Korea, and the USA, now in emerging markets more than half are Chinese brands.

Just having data is not enough. If the reputation is poor, it will repeat the fate of motorcycles - in 2002, 2003 we quickly became first in the Vietnam motorcycle market, but surpassed by Japan after three or four years because quality was not good. Now our reputation is very good. For example in Thailand, for every 100 EVs sold, Chinese brands account for 86 cars; in Indonesia, account for 92 cars. User evaluation is very high: Great Wall Motor customer feedback, Chinese EV safety systems are done very well, automatic follow, braking, anti-collision technologies are almost all present.

Fuel car reputation is also very good: 23.6% share in Malaysia fuel car market, 38.5% in Egypt. A multi-brand dealer in Malaysia evaluated, Chinese car prices are close to local brands, but configurations are far superior, especially in smart cockpits, sunroofs, electric seats, LED lights, etc., extremely attractive to young consumers. Egypt users say, initially felt owning Chinese cars was risky because Chinese cars often had faults before, but this view changed over the past five years, Chinese auto quality has significantly and unexpectedly improved.

These are conclusions obtained by the National Information Center through in-depth research. Good quality, good reputation, next step if spare parts supply and after-sales service system can be significantly improved, China's auto going global will be unstoppable - this is the extension of domestic competitiveness. Five years ago exports stayed at 1 million vehicles, because domestic competitiveness was not enough. Last year, independent brand domestic market share already reached 64%, while in 2020 it was only 33%.

Reason Three: Industry chain entities represented by complete vehicles are all actively promoting internationalization.

In terms of complete vehicles, three enterprises with million-unit exports: Chery 1.33 million vehicles, BYD 1 million vehicles, SAIC Passenger Vehicle plus Commercial Vehicle close to 1 million vehicles. Half million level: Geely, Great Wall, Changan. 100,000 level: JAC, Dongfeng, GAC, FAW. Enterprise distribution is also relatively balanced, will not affect overall exports due to individual enterprise issues. Chery has ranked first among Chinese brands in exports for 23 consecutive years, overseas sales revenue exceeded 100 billion yuan last year, overseas dealers reached 3,000. During Beijing Auto Show, Chery set up a separate hall, inviting overseas dealers to China to visit Wuhu factory. BYD chased very fast in the recent two years: 400,000 vehicles exports in 2024, reached 1 million vehicles in 2025, relying on EVs to open international market, brand reputation has formed. Others like SAIC, Changan, Great Wall also have unique advantages.

In addition, parts enterprises, logistics, dealers, automotive financial institutions, service agencies, etc. are all actively going global - as experts said "Ecosystem Going Global", although slightly weaker compared to complete vehicles, overall trend is good. Joint venture brands are also doing exports, last year reached 830,000 vehicles, Tesla, Kia, Volvo, Hyundai, Ford leading the way. Many joint venture enterprises see sales decline in China market, only relying on domestic market difficult to sustain, therefore all make export a strategy. Kia is most typical: domestic sales 100,000+ vehicles, exports 170,000 vehicles, maintain 300,000 vehicle scale, realized profit last year, became "Small but Refined" case. Volkswagen, Toyota, etc. are also researching how to utilize China production capacity and manufacturing capability for export, especially new energy vehicles.

As overall export volume rises, professional niche markets will also follow. For example, off-road vehicles, started two years late, accelerated starting 2023, reached 500,000+ vehicles last year, increased more than double for consecutive years. This March off-road vehicle exports 80,000 vehicles, at this scale annual is expected to reach 1 million vehicles. Next step, modified cars will also have good development. Used car exports will also increase. Therefore, future export forms will be diversified, both complete vehicles, also industry chains and ecosystem chains, can build factories themselves, also can utilize local production capacity, etc.

Of course, I also agree with the views of the two experts: exports will not rise in a straight line, but develop amidst fluctuations. Because auto is very important to any country, only exporting complete vehicles opponents will definitely not be willing, and cannot crush local industry. So, my confidence in exports is firm - it will definitely develop gradually forward amidst fluctuations.

Thank you all!