马自达股票涨幅扩大至9.6%。 ...

Core Viewpoint - Ankai Bus announced that as of January 2026, the company's production reached 761 units, representing a year-on-year increase of 35.65%, while sales decreased by 18.36% to 458 units [1] Production Summary - The production of large, medium, and light buses was 331 units, 388 units, and 42 units respectively, with year-on-year changes of 23.51%, 226.05%, and -75.86% [1] Sales Summary - The sales figures for large, medium, and light buses were 102 units, 296 units, and 60 units respectively, with year-on-year changes of -54.46%, 116.06%, and -70.00% [1] Performance Note - The company cautioned that production and sales data should not be directly used to infer financial performance, and final figures will be confirmed in periodic reports [1]

2026年开年，特斯拉率先推出"7年低息车贷"政策，年化利率低至0.98％，月供不足2000元即可购 买Model 3，旋即将整个行业卷入车贷竞争的浪潮。小米、理想、小鹏等车企在两周内迅速跟进，7年分 期购车突然成了标配。 再看消费端，这场"免费的午餐"真的足够诱人吗？对于刚步入社会的年轻人而言，一些热门车型月供不 足1500元，比大城市的房租还低，让拥有一辆新车显得触手可及。然而，经笔者估算，"超低月供"也许 只是表象。例如，有的车企金融方案宣传利率极低，但若换算为消费者更易懂的近似年化利率，可能高 达4％。也就是说，贷款10万元，周期拉长至7年，总利息支出可能相差逾万元。同时，隐性成本也不容 忽视：部分金融方案实为融资租赁而非银行贷款，其费用结构往往更为复杂，可能包含服务费、保证金 等，综合成本不易直观比较；此外，考虑到提前还款违约金、捆绑高价保险等附加条件综合核算后，初 期承诺的优惠往往被打折扣。 消费者担忧的还有"负资产陷阱"。新能源汽车技术迭代快，保值率不确定性较高。选择超长期贷款时， 需考虑未来数年后，车辆市场价值可能低于剩余贷款金额的资产倒挂风险。这种风险对计划在3～5年内 换车的消费者或对未来 ...

Core Viewpoint - The increasing popularity of electric vehicles (EVs) for family travel during the Spring Festival highlights the need for enhanced safety measures and systematic guarantees against unique risks associated with EVs, such as battery thermal runaway and charging anomalies [1] Group 1: Safety Testing Framework - The C-EVES (China Electric Vehicle Safety) testing framework was officially released, establishing a systematic evaluation system covering driving safety, battery safety, charging and discharging safety, and emergency safety [3] - This framework aims to promote the continuous upgrade of safety technologies and provide scientific and professional safety assessment standards for the EV industry [3] Group 2: Driving Safety Measures - The driving safety tests simulate scenarios such as simultaneous acceleration and braking, gear shifting errors, and unintended power-off during driving to assess the vehicle's ability to recognize risks and implement safety measures [5] - These measures are designed to ensure driving safety, particularly during long-distance travel when driver fatigue and operational errors are more likely [5] Group 3: Battery Safety Assessments - Battery safety tests include simulations of impacts from potholes and water immersion to evaluate the structural integrity, sealing performance, and insulation protection of the battery pack [6] - This ensures that the battery remains safe even in adverse conditions such as icy roads or construction zones [6] Group 4: Charging Safety Protocols - Charging safety tests cover various scenarios, including overcharging, microgrid fluctuations, short-circuit discharges, and charging in the rain [8] - These tests assess the vehicle's response capabilities and system recovery under abnormal charging conditions, ensuring safe electricity usage during travel [8] Group 5: Emergency Response Capabilities - Emergency safety tests focus on the vehicle's ability to respond to thermal events, including alarm systems, emergency door unlocking, smoke control, and thermal radiation protection [10] - The goal is to provide sufficient escape time for occupants and mitigate the spread of thermal runaway risks, thereby maximizing passenger safety [10] - The implementation of the C-EVES testing framework aims to enhance the safety of EV travel during the Spring Festival peak, ensuring a secure and warm return for consumers [10]

Core Viewpoint - The article discusses the challenges and potential of the battery swapping model in the electric vehicle (EV) industry, highlighting the investments made by companies like NIO and CATL, and the financial viability of this model. Investment and Cost Analysis - NIO's first-generation battery swapping station cost approximately 3 million yuan, while the second generation costs between 1.5 to 2 million yuan, with over 1,100 second-generation stations expected by December 2025 [3] - The initial investment for a battery swapping station includes equipment costs of 1.5 million yuan, line costs of 200,000 yuan, and battery costs of 620,000 yuan, with operational costs including a monthly salary of 5,000 yuan and annual rent and maintenance of 100,000 yuan [7] Profitability and Financial Outlook - NIO aims to achieve profitability by the end of 2025, with a forecasted adjusted operating profit of 700 million to 1.2 billion yuan for Q4 2025, marking its first quarterly adjusted operating profit since inception [3] - Long-term projections suggest that the battery swapping model could yield a return rate of 5.5%, potentially becoming a stable cash cow for companies once it reaches a steady state [6] Market Dynamics and Competitive Landscape - CATL has ambitious plans to establish 1,000 battery swapping stations by 2025, with a long-term goal of 30,000 stations, which would cover over 20 million vehicles [5] - The battery swapping model is closely related to the concept of battery separation, which can lower vehicle purchase costs and enhance battery longevity through standardized management [10] Industry Concerns and Challenges - Concerns exist regarding the high costs of building and operating battery swapping stations compared to charging stations, which may deter some automakers from adopting this model [13] - The rapid development of battery technology poses a risk that companies may become locked into outdated models if they heavily invest in battery swapping infrastructure [13] - The lack of standardized battery sizes and interfaces across different automakers complicates the implementation of a universal battery swapping system [13] Consumer Perception and Adoption - Some consumers express reluctance to accept used batteries from swapping stations, and the cost of battery swapping can be comparable to traditional fuel costs, which may hinder adoption [14] - The emergence of ultra-fast charging technologies is narrowing the performance gap between charging and swapping, potentially reducing the perceived value of battery swapping [14] Competitive Positioning - The report indicates that BYD is gaining market share in the 50,000 to 150,000 yuan segment, increasing from 25% in 2019-2020 to an expected 56-57% in 2023-2024, creating competitive pressure on other automakers [15] - For companies without in-house battery production, adopting the battery swapping model may be a viable strategy to remain competitive in the lower-priced vehicle market [16]

2月9日，神州租车与华夏金租自动驾驶业务合作签约仪式在京举行。双方将基于长达四年的战略伙伴关系，正式签署《自动驾驶车辆融资租赁专项合作 协议》，启动自动驾驶车队的商业化租赁与运营合作。这不仅是华夏金租在自动驾驶领域的首单业务投放，也是双方继2025年9月达成百亿级战略合作后的 又一重要落地，代表着双方的合作已从传统车队管理延伸至智能化出行服务领域。 自去年落地业内首个自动驾驶租车服务后，神州租车通过不断积累的运营数据和服务优化，正在逐步跑通自动驾驶租车服务的商业化链路。此次签约是 双方合作关系的进一步深化，也为自动驾驶在租赁行业的商业应用提供了实践参考，更标志着自动驾驶汽车在租车行业的商业运营模式得到了市场深度认 可，将推动行业从传统交通工具租赁向智能化出行服务跨越。 此次华夏金租选择在自动驾驶领域进行首笔资产投放，正是看中了神州租车在智慧出行生态中的先行者优势与资产运营能力，也意味着自动驾驶汽车作 为一种新型业务资产，其运营逻辑和未来的市场价值得到了行业资深玩家的认可。 神州租车CEO高德武在签约仪式上表示："自动驾驶业务的落地需要场景、技术与运营的深度结合。我们在海南环岛旅游公路的初步尝试显示，用户对 智 ...

Core Insights - The article discusses the extreme cold weather testing conducted by the Shaanxi Fast Group in Heilongjiang, China, focusing on the performance of their intelligent products in harsh winter conditions [2][5][9] Group 1: Testing Overview - The testing period lasted from December of the previous year to February, with flexibility in timing based on testing needs and data results [2] - The testing site was in Heilongjiang, with a focus on various road conditions including highways and closed test tracks [2] - The core products tested included AMT transmissions, automatic transmissions for special vehicles, hydraulic retarders, electric steering systems, and electronic braking systems (EBS) [2] Group 2: Challenges Faced - Engineers faced numerous challenges, including low-temperature cold start performance, sensor responsiveness, and fluid viscosity changes affecting system performance [3][4] - A significant incident involved a test vehicle experiencing multiple sensor failures, requiring on-site repairs in extreme conditions [3] - Another challenge was the freezing of the engine's oil lines, which was addressed using a steam heater to thaw the system [4] Group 3: Performance Results - The overall performance of the intelligent products met the expected validation goals, revealing issues that could not be replicated in laboratory conditions [5][6] - The EBS system showed remarkable reliability and responsiveness in cold conditions, maintaining performance similar to that in normal temperatures [6] - The AMT system demonstrated improved low-temperature shifting success rates due to refined software calibration [6] Group 4: System Integration and Collaboration - The testing highlighted new challenges in system integration, particularly when multiple intelligent products were used together [6] - Solutions were developed for managing braking forces to prevent wheel lock-up and maintain vehicle stability [6] Group 5: Technological Innovations - The R&D team introduced innovative solutions to address low-temperature challenges, including a comprehensive low-temperature cold start strategy for AMT [7] - The EBS system was optimized for reliability and responsiveness across various road conditions [7] Group 6: Data Utilization and Industry Impact - The testing generated vast amounts of data, which will drive software iterations and hardware design optimizations for future products [8] - The successful completion of the cold weather tests positions the company as a leader in the commercial vehicle parts industry, setting a benchmark for technological advancement [9]

塔塔汽车方面表示，汽车相关贵金属及铜等关键原材料价格持续走高，对公司成本结构带来显著压 力。大宗商品价格上涨对塔塔汽车营收的影响已超过2%，所以将在未来数周内公布具体方案。 与此同时，印度市场其他主要车企亦面临类似成本挑战。市场占有率居首的马鲁蒂铃木印度公司上 周表示，正评估是否实施价格调整，贵金属价格涨幅"极为显著"，公司正尽力消化部分成本增量，在一 定限度之后，若无法继续内部消化，就必须将成本转嫁至消费者。 印度汽车巨头要涨价，引起了印度媒体的高度关注。 近日，塔塔汽车乘用车有限公司计划在未来数周内上调旗下乘用车售价，以应对持续上涨的大宗商 品成本压力。该公司相关负责人在最新季度财报电话会上确认了这一调整计划，并表示公司已承受近一 年的原材料成本上升压力，当前影响已达到需启动价格修订的程度。 成本上升引发反应 有舆论称，如果说成本压力是涨价的"被动原因"，那么新能源领域的巨额研发投入，则是塔塔汽车 主动涨价的"核心动力"。作为印度新能源汽车市场的领导者之一，塔塔汽车早已将重心转向电动化，而 这背后需要持续的资金支撑。 而现代汽车印度公司已于今年1月率先完成一轮调价，主要涉及Venue车型。该公司表示，大宗 ...

Core Viewpoint - Yuchai Group has established itself as a significant player in the global power equipment sector, emphasizing innovation and collaboration with global partners to drive growth and success in the evolving industrial landscape [1][7]. Group 1: Company Achievements - In the past year, Yuchai achieved double-digit growth in sales revenue and profit, with brand value surpassing 114.3 billion yuan, maintaining industry leadership for 20 consecutive years [2]. - The cumulative production and sales of engines exceeded 12 million units, with products exported to over 180 countries and regions [2]. - Yuchai's chairman highlighted the importance of customer success for the company's survival, emphasizing a customer-centric approach in product development and service [3]. Group 2: Strategic Initiatives - Yuchai is implementing the "1335" strategy, aiming to become a world-class power system supplier by focusing on three key areas: traditional power, new energy, and intelligent equipment [3][4]. - In the traditional power sector, Yuchai aims to sell 600,000 engines by 2025, representing a 30% year-on-year increase, with commercial vehicle power sales projected to grow by 54% [4]. - The company is advancing in the new energy sector, targeting a 155% increase in new energy power system sales by 2025, and has introduced innovative products like the flywheel range extender system [4]. Group 3: Global Expansion - Yuchai's overseas sales are projected to exceed 130,000 units by 2025, with a compound annual growth rate greater than 43% during the 14th Five-Year Plan period [5]. - The company is establishing localized factories globally, with plans for over 10 facilities to enhance its production, sales, and service network [6]. - Yuchai's strategy includes deepening cooperation with local partners in various regions, focusing on traditional markets while also breaking into high-end and future markets [6][7].

2025年，不少货车司机跳出传统运输赛道，开辟了一条全新的"跨界"路径——卖水果。他们驱车直达水果产地精心选品，借助绿色通道享受高速运费 减免，随后在城市路边设点直接兜售，一趟运输加售卖的往返行程，净利润可达万元以上。 近日，记者联系上了抖音平台热度颇高的河南货车司机李阳，试图通过跟踪他的一个运输周期，探寻货车司机"跨界"背后的真实生活与行业现状。 货车司机跨界变身水果摊主，近期在社交媒体上迅速爆火。 凌晨四点，河南三门峡还在沉睡。 38岁的李阳已经发动了他那辆13米长的半挂货车。这是2026年春节前的最后一个运输周期，他要去四川眉山拉一车耙耙柑回来。不同的是，这次他不 是为别人拉货，而是为自己。 "以前开长途，心里算的是这趟能挣多少，扣掉油费、过路费还剩多少。"李阳调整后视镜，"现在想的是，这批果子能不能在最好的时候到，群里那 些人等着呢。"他翻出手机，最后一个微信群昨晚已经接龙完毕。 耙耙柑，这次一共装车了1500箱。车还没出河南，货已经"卖"完了大半。这是他用两年时间搭建起来的信任——从顺手给邻居带几筐水果，到如今近 三十个微信群、上万个稳定客户。 小果~105一筐(34/35斤左右)接 龙价： 100 ...