Core Viewpoint - The article discusses the launch of the first engineering prototype of the Yijing brand, marking a significant step towards mass production and highlighting the collaboration with Huawei's QianKun ecosystem for smart vehicle technology [4][5][8]. Group 1: Engineering Prototype Development - The first engineering prototype of Yijing was officially launched on December 22, 2025, indicating the project has entered a critical testing phase [4]. - This prototype serves as a key vehicle for validating the overall vehicle platform performance and deploying advanced driving assistance capabilities [8]. - The Yijing project, a collaboration between a state-owned automotive enterprise and Huawei QianKun, has progressed rapidly due to the integration of traditional automotive manufacturing expertise and Huawei's advanced technology [8][9]. Group 2: Smart Features and Market Position - The upcoming flagship SUV from Yijing will feature Huawei QianKun's smart driving and HarmonyOS cockpit, enhancing user experience beyond basic transportation [9]. - Huawei QianKun's smart driving solution has been validated through extensive real-world data, with over 10 million units sold in November 2025 alone, showcasing its reliability and maturity [14]. - The integration of proven technology allows Yijing to offer a stable and mature smart experience from the outset, reducing the need for extensive trial and error in development [15]. Group 3: User-Centric Approach - Yijing emphasizes a user-centric philosophy, actively involving potential users in the brand and product development process, which has led to hundreds of user-driven optimizations [19][20]. - The brand aims to create a "growing" automotive brand by fostering a strong relationship with users, ensuring that products evolve with family needs [20]. - This collaborative approach is expected to build a competitive edge in the family-oriented smart automotive market, making it difficult for competitors to replicate [20][21]. Group 4: Future Challenges and Expectations - The launch of the engineering prototype is just the beginning; Yijing must undergo multiple rounds of validation to ensure the integration of Huawei QianKun's capabilities translates into tangible user benefits [21]. - As the Beijing Auto Show approaches in April 2026, Yijing is expected to reveal more information about its first model and user experience [21].

共探新营销，共创新可能 设计 | 甄 尤 美 撰文 | 郝 雨 涵 编辑 | 黄 大 路 Model 3产能爬坡、全年亏损近10亿美元......2018年，堪称特斯拉的生死攸关之年。 为自救，特斯拉开出了两副极具开创性的药方：上海超级工厂和马斯克的薪酬方案，其中，马斯克的薪酬方案一经发布便极具争议。 该方案摒弃固定薪资模式，将马斯克的报酬与 12个阶梯式的经营、市值双目标深度绑定，逐级完成后，便能解锁对应股权奖励。 在该方案经股东投票通过后不久，持有特斯拉 9股股票的投资者理查德・托内塔（Richard Tornetta）因"董事会受马斯克不当控制"为由，提出质疑 并起诉了特斯拉董事会。 2024年 1月， 特拉华州 专门处理商业事务的衡平法院的 法官凯瑟琳・麦考密克 （ Kathaleen McCormick）， 正式下令撤销这份 2018年薪酬方 案。 马斯克对此极其不满，并在 2025年10月第三季度的财报会上暗示董事会通过新的2025年薪酬方案，避免重蹈2018年的覆辙。 而极具戏剧性的是，在 2025年12月19日，特拉华州最高法院恢复了马斯克2018年的薪酬方案。 该最高法院表示，下级法院 20 ...

Core Viewpoint - The Chinese automotive market in 2025 is characterized by a stark contrast between industry consolidation and the influx of new entrants, with companies like Weiqiao Group making significant moves into the electric vehicle sector amid challenges in their traditional businesses [4][5]. Group 1: Industry Challenges and New Entrants - Several established automotive companies, including Hozon Auto and GAC Fiat, have declared bankruptcy, indicating a harsh industry shakeout [5]. - New players, such as Chasing Technology and Weiqiao Group, are entering the market, driven by government support and the need for diversification from struggling core businesses [5][9]. Group 2: Weiqiao Group's Background and Strategy - Weiqiao Group, originally established in 1951, has diversified into various sectors, including textiles and aluminum, and has been listed among the Fortune Global 500 for 13 consecutive years [7]. - The company faced significant challenges in its textile and aluminum businesses, with textile profits dropping by 24.8% in 2022 and a major environmental crackdown affecting aluminum production [9][10]. - Following these setbacks, Weiqiao Group shifted its focus to the electric vehicle sector, motivated by favorable government policies and the need for new growth avenues [12][19]. Group 3: Leadership and Vision - Zhang Bo, the son of the founder, took over leadership in 2018 and has been pivotal in steering the company towards the automotive industry, emphasizing the importance of aligning new ventures with the company's core competencies [16][22]. - Under Zhang Bo's leadership, Weiqiao Group has made strategic partnerships and investments in the electric vehicle space, including collaborations with research institutions and other automotive companies [17][22]. Group 4: Automotive Brand Development - Weiqiao Group has established four automotive brands: 212, Jishi, Ruisheng, and Leichi, covering a wide range of market segments from commercial to passenger vehicles [32]. - The company has adopted a strategy of acquiring existing automotive assets and brands rather than starting from scratch, which allows for quicker market entry and leveraging existing capabilities [33]. - The 212 brand has been particularly notable, with a range of models priced between 139,900 to 188,800 yuan, although it has faced challenges such as product quality issues and trademark disputes [23][32]. Group 5: Future Outlook - Weiqiao Group's automotive ventures are seen as a new hope for the company, with significant revenue growth reported in 2024, but they also introduce new uncertainties and risks [22][32].

Core Viewpoint - The financial collapse of the Dutch rental company Mistergreen, known for its exclusive Tesla fleet, serves as a warning about the risks of blindly following Elon Musk's claims regarding Tesla as a "value asset" in the face of declining second-hand car market conditions [3][6]. Group 1: Company Background and Market Changes - Mistergreen was established in 2019 as a pioneer in electric mobility, focusing solely on leasing Tesla electric vehicles [6]. - Six years later, the market landscape has drastically changed, with Tesla's sales in the U.S. dropping to 39,800 units in November 2025, the lowest in nearly four years [6]. - Tesla's competitive edge has diminished as other manufacturers have caught up, with European and Chinese companies now offering competitive electric vehicle models [6]. Group 2: Investment Strategy and Consequences - Mistergreen leveraged Musk's prediction that Tesla vehicles would become "value assets" due to their full self-driving capabilities, expecting high residual values [8]. - However, the reality has been the opposite, with significant depreciation in Tesla vehicle values, forcing Mistergreen to write down millions in fleet value [12]. - The company's business model relied on the assumption that its Tesla fleet would retain value and generate income as autonomous taxis, a promise that has not materialized [12]. Group 3: Financial Struggles and Market Response - Mistergreen has faced severe financial difficulties, including an inability to repay bonds issued for purchasing Tesla vehicles, leading to losses in the tens of millions of euros [15]. - The company has stopped offering new Tesla leases and is now only leasing used Tesla vehicles through its ReDrive project [18]. - Other rental companies have also reacted to Tesla's price cuts, with some halting purchases of Tesla vehicles due to significant financial losses [14]. Group 4: Business Sale and Future Outlook - Mistergreen's fleet has been sold, with vehicles in the Netherlands and Belgium acquired by Kroymans Group's Rebel Lease, and German vehicles taken over by Van Mossel Lease [17]. - The sale included around 600 vehicles and 200 customers, indicating a strategic shift towards customer base integration rather than vehicle ownership [17]. - The company's massive losses stem from the significant asset devaluation of its Tesla fleet, exacerbated by Tesla's pricing strategies [17].

Core Viewpoint - The Xuanyuan Award, now in its 13th year, continues to uphold its commitment to independence from commercial interests, power, and relationships, aiming to identify truly outstanding vehicles in the Chinese automotive market [5][9]. Group 1: Award Overview - The 13th Xuanyuan Award was officially launched on October 15, 2025, after 13 years of refinement and navigating market fluctuations [4]. - The award emphasizes rigorous testing and independent judgment, focusing on genuine consumer needs rather than superficial marketing [7]. Group 2: Award Nominees - On December 20, 2025, alongside the selection of the "Top Ten Cars of the Year," the award also recognized 14 nominated vehicles representing innovation in the Chinese automotive industry [8]. - The nominated vehicles include: iCAR Super V23, Fengyun A9L, Lynk & Co 900, Geely Galaxy Star 8, Avita 07 Extended Range, Changan Qiyuan A06, Ledao L90, Lantu FREE+, Zongheng G700, Arcfox T1, Leapmotor B10, GAC Haobo HL, BJ30 Traveler, and Tank 500 [11].

Core Viewpoint - The Xuanyuan Awards serve as a prestigious recognition of the achievements in the Chinese automotive industry, emphasizing the importance of independent evaluation and the need for high-quality, sustainable development in the sector [3][4][6]. Group 1: Event Overview - The 13th Xuanyuan Annual Ceremony took place on December 20, 2025, in Beijing, highlighting the significant contributions of the automotive industry over the past year [3]. - The awards aim to guide the future direction of the Chinese automotive industry amidst a transformative period characterized by intense competition and technological diversity [3][8]. Group 2: Evaluation Principles - The Xuanyuan Awards adhere to three core principles: independence from business interests, power, and personal relationships, which are fundamental to its evaluation process [4][6]. - The awards are designed to respond to the core demands of the industry and consumers, providing a clear benchmark for product quality and innovation [8]. Group 3: Award Winners - The winners of the 13th Xuanyuan Awards include notable models such as the Zeekr 9X, AITO M8, and the new Xpeng P7, which exemplify innovation and quality in the current automotive landscape [12][30][41]. - The Zeekr 9X was recognized for its unique design and advanced technology, showcasing the latest heights of Chinese automotive engineering [24][26]. - The AITO M8 has achieved significant sales, with over 140,000 units delivered since its launch, reflecting its strong market position [32][30]. - The new Xpeng P7 was awarded for its outstanding design and technological advancements, setting a new standard in the electric vehicle segment [43][96]. Group 4: Industry Insights - The automotive industry in China is currently facing challenges such as price wars and product homogenization, necessitating a focus on high-quality, emotionally resonant products [8]. - The Xuanyuan Awards aim to establish a clear standard for product excellence, helping consumers navigate the complexities of the automotive market [8][10].

Core Viewpoint - The article discusses the trend of manufacturing return to the U.S., particularly in the automotive and semiconductor industries, driven by government policies and foreign investments aimed at reducing trade deficits and enhancing domestic production capabilities [4][5][6][15][16]. Automotive Industry - Toyota plans to export three models produced in the U.S. back to Japan, symbolizing a positive gesture towards improving U.S.-Japan trade relations [4]. - Honda intends to shift production of key models like CR-V and Civic from Canada and Mexico back to the U.S., aiming for 90% local production within two to three years [8]. - General Motors announced a $4 billion investment in three U.S. plants to increase production capacity, aiming to exceed 2 million vehicles annually [10]. - Stellantis revealed a $13 billion investment plan in the U.S., which includes reopening a previously closed plant and creating approximately 3,300 jobs [12][13]. - Ford is adjusting its electric vehicle strategy, focusing on hybrid and gasoline models while hiring thousands of workers [10]. - The overall trend indicates a significant increase in domestic production and investment from both foreign and U.S. automakers, responding to government policies [10][14]. Semiconductor Industry - Under pressure from U.S. policies, major semiconductor companies like TSMC are expanding their operations in the U.S., with TSMC increasing its investment from $40 billion to $65 billion for new facilities [16][22]. - Intel has received approximately $11.1 billion in government subsidies and is building new fabs in Arizona and Ohio [20]. - Micron announced a $30 billion expansion plan in the U.S., with government support for its production facilities [22]. - The U.S. government is negotiating with Taiwan to facilitate the transfer of skilled labor to support domestic semiconductor manufacturing [23][24]. - Despite these investments, challenges remain in labor availability and supply chain issues, indicating that the return of manufacturing is still in progress and not yet fully realized [26][27]. Overall Manufacturing Trends - As of September 2025, U.S. manufacturing output was approximately $2.905 trillion, showing only slight growth compared to earlier in the year, with employment levels remaining stable [26]. - Trade deficits have widened, with a reported increase of $112.6 billion (17.2%) compared to the previous year, indicating that the intended reduction in trade imbalance has not yet materialized [26]. - The article highlights that while there are ambitious plans and investments, the actual outcomes in terms of production and job creation are still lagging behind expectations, necessitating further reforms and collaboration to achieve a true manufacturing revival in the U.S. [27][28].

Core Viewpoint - The automotive industry is experiencing rapid advancements in both electrification and intelligence, with the pace of smart technology development outstripping that of electrification, indicating a transformative shift in vehicle capabilities and user experience [4][10][14]. Group 1: Electrification and Intelligence Progress - Electrification has progressed from 1% to 30% over ten years, while the advancement of L2+ smart technology has achieved the same percentage in just five years, highlighting that the smart technology development speed is twice that of electrification [10][14]. - The future of vehicles will rely heavily on image technology, which is expected to account for 80% of vehicle information transmission, serving as a crucial foundation for the rapid development of smart technology [10][11]. Group 2: Smart Driving and Cabin Technology - By 2025, high-speed Navigation on Autopilot (NOA) will be standard in all new vehicles, with urban NOA expected to achieve parity by 2026, and Level 3 (L3) automation anticipated to be mainstream by 2027 [14][16]. - The development of smart cabins has progressed through various stages, with the current phase being the integration of 5G and large models, leading to a significant enhancement in user experience and personalized services [13][16]. Group 3: Future Automotive Trends - The future of vehicles is envisioned as intelligent companions that can autonomously execute commands, connect with the internet, and provide emotional value to users, transforming the automotive experience [17][18]. - The architecture of future vehicles will evolve towards modular designs and advanced electronic frameworks, enabling greater flexibility and integration of smart technologies [20][21]. Group 4: Industry Innovations and Company Initiatives - Dongfeng Warriors Technology has pioneered the integration of electrification in off-road vehicles, launching innovative models that combine advanced power systems and smart technologies [21]. - The company aims to continue advancing in emotional intelligence and cross-domain integration, striving to enhance user experiences and establish vehicles as emotional partners [21].

Core Viewpoint - The article emphasizes the importance of a healthy payment cycle (60 days) in the automotive supply chain, highlighting its role in fostering trust and collaboration between manufacturers and suppliers, ultimately leading to sustainable development and innovation in the industry [4][5][13]. Payment Cycle Importance - A healthy payment cycle is crucial for the sustainable development of the entire value chain, as it impacts investment in new technologies and production capacity [4][23]. - The 60-day payment policy has been adopted by several major automotive companies, reflecting a shift towards a more supportive relationship between manufacturers and suppliers [5][7]. - Suppliers view the 60-day payment cycle as essential for maintaining cash flow, which is necessary for innovation and operational stability [7][19]. Shift in Manufacturer-Supplier Relationships - The relationship between manufacturers and suppliers is evolving from a traditional supply-demand dynamic to a more collaborative, long-term partnership model [7][30]. - Manufacturers recognize that the success of their operations is intertwined with the financial health of their suppliers, leading to a more symbiotic relationship [7][21]. - The emergence of the Tier 0.5 model signifies a qualitative leap in collaboration, where suppliers are involved early in product development, enhancing innovation and responsiveness to market changes [9][30]. Tier 0.5 Model - The Tier 0.5 model emphasizes co-creation and innovation, allowing suppliers to participate in defining products and responding to consumer feedback more effectively [9][30]. - This model fosters deep mutual trust and collaboration, enabling both manufacturers and suppliers to innovate and adapt to rapidly changing market conditions [9][33]. - Suppliers are increasingly seen as partners in the innovation process, contributing ideas and capabilities from the early stages of product development [9][35]. Global Market Expansion - The collaborative efforts between manufacturers and suppliers are essential for successfully entering global markets, particularly in the context of increasing competition [10][56]. - Companies are focusing on building strong supply chains that can support international expansion, leveraging the capabilities of both domestic and international partners [10][59]. - The automotive industry is witnessing a shift towards a more integrated approach to global market strategies, where collaboration across the supply chain is key to success [10][60].

Core Viewpoint - The article discusses the competitive landscape of the autonomous driving industry, focusing on the significant developments from Waymo and Tesla, highlighting their strategies, advancements, and the challenges they face in achieving fully autonomous driving [4][5]. Group 1: Waymo's Developments - Waymo is in talks for a new funding round led by its parent company, Alphabet, aiming to raise between $15 billion to $20 billion, which would increase its valuation to over $100 billion, doubling from $45 billion in October 2024 [8]. - Waymo has expanded its service area significantly, covering approximately 260 square miles in Silicon Valley and becoming the first company to offer paid autonomous driving services on highways without a driver [16][21]. - The company has completed 127 million miles of fully autonomous passenger miles, achieving a 90% reduction in severe accidents and a 92% reduction in pedestrian injuries compared to human drivers [19][21]. Group 2: Tesla's Strategy - Tesla is attempting to leverage its unique vision-based Full Self-Driving (FSD) system and extensive data from mass-produced vehicles to catch up with Waymo [22]. - The company has launched a taxi network in Austin, where vehicles are monitored by a safety operator, marking a significant step towards fully autonomous operations [22][30]. - As of October 2025, over 2 million Tesla vehicles are equipped with the FSD beta, generating vast amounts of road scene data daily [28]. Group 3: Challenges Faced - Both Waymo and Tesla face ongoing challenges related to technology maturity, safety performance, and regulatory compliance [32]. - Waymo has encountered operational difficulties, such as traffic congestion caused by its vehicles in San Francisco, highlighting the complexities of real-world scenarios [33][37]. - Tesla's FSD software has faced scrutiny due to incidents of traffic violations and accidents, with seven collisions reported in Austin as of mid-October 2025, despite the presence of human safety operators [40][41]. Group 4: Regulatory Environment - Tesla is under strict scrutiny from state and federal regulators, which poses risks to its business model, especially as it aims to launch fully autonomous taxi services [44]. - The California DMV has mandated Tesla to change the name of its "Autopilot" system to clarify its nature as an advanced driver assistance system, with a deadline for compliance [44]. Group 5: Future Outlook - The future of autonomous driving may hinge on the safety data generated by Tesla's autonomous taxi operations, suggesting that superior safety metrics could determine market leadership [45].