Core Viewpoint - Mercedes-Benz has officially acquired a 3% stake in Qianli Technology, enhancing its software capabilities in China, marking a strategic investment aimed at boosting its presence in the intelligent driving sector [2][3]. Group 1: Investment Details - On September 25, Qianli Technology announced that its shareholder, Lifan Holdings, transferred 135.6 million shares (3% of total equity) to Mercedes-Benz Digital Technology at a price of RMB 9.87 per share, totaling approximately RMB 1.34 billion [2]. - This transaction is characterized as both a "debt restructuring and strategic investment," as Lifan Holdings needed to settle debts through this share transfer [2]. Group 2: Background of Qianli Technology - Qianli Technology, formerly known as Lifan Technology, underwent a name change in February 2025 after emerging from bankruptcy restructuring in 2020, with Geely becoming its major shareholder [3]. - Geely has recently restructured its intelligent driving team, merging various divisions into Qianli Technology, which now serves as the primary platform for intelligent driving within Geely's operations [4]. Group 3: Strategic Implications for Mercedes-Benz - The investment in Qianli Technology is part of Mercedes-Benz's broader strategy to enhance its intelligent driving capabilities in the Chinese market, following previous investments in local tech firms [5]. - Mercedes-Benz's collaboration with Qianli Technology is expected to help the company meet the evolving demands of Chinese consumers for electric and intelligent vehicles [6]. Group 4: Industry Context - Other major automotive players like BMW, Audi, and Volkswagen are also accelerating partnerships with local Chinese tech firms to enhance their competitive edge in the electric and intelligent vehicle market [6].

天眼查App显示，9月23日，宁波吉利汽车实业有限公司发生工商变更，注册资本由约39.16亿人民币增 至约46.27亿人民币，增幅约18%。该公司成立于2021年6月，法定代表人为淦家阅，经营范围含道路机 动车辆生产、货物进出口、技术进出口、工程和技术研究和试验发展、汽车零部件及配件制造、汽车零 部件研发、工程管理服务、企业管理、机械设备租赁等。股东信息显示，该公司由Value Century Group Limited全资持股。 ...

Core Viewpoint - The article provides a comprehensive overview of upcoming vehicle models from various manufacturers, detailing their specifications, market segments, and expected launch dates. Group 1: Upcoming Vehicle Models - Changan Automobile will launch the Deep Blue S07 on September 19, 2025, positioned as a B SUV with a price range of 156,900 to 173,900 CNY [12]. - GAC Passenger Vehicle is set to release the GAC Trumpchi Xiangwang S9 on September 19, 2025, classified as a C SUV, with prices ranging from 229,900 to 259,900 CNY [20]. - Jiangling Ford will introduce the Ford Lema on September 19, 2025, categorized as a B SUV, with a price range of 386,600 to 436,600 CNY [28]. - NIO will launch the ES8 on September 20, 2025, a D SUV priced between 406,800 and 446,800 CNY [36]. - NIO's ET9 will also debut on September 20, 2025, classified as a D NB with a price of 818,000 CNY [44]. - Avita Technology will release the Avita 07 on September 20, 2025, a B SUV with prices from 219,900 to 279,900 CNY [52]. - Chery New Energy will launch the iCAR V23 on September 21, 2025, an A SUV priced between 122,800 and 174,800 CNY [60]. - Geely Automobile will introduce the Lotus ELETRE on September 21, 2025, a C SUV with a price range of 558,000 to 863,000 CNY [68]. - Geely will also launch the Lotus EMEYA on September 21, 2025, a D NB priced between 538,000 and 873,000 CNY [76]. - Dongfeng Honda will release the CR-V on September 22, 2025, an A SUV with prices ranging from 185,900 to 239,900 CNY [84]. - SAIC General Motors will launch the Buick GL8 on September 22, 2025, a C MPV priced between 309,900 and 369,900 CNY [91]. - GAC Aion will introduce the Aion RT on September 22, 2025, an A NB with prices from 99,800 to 123,800 CNY [96]. - SAIC General Motors will also release the Cadillac XT5 on September 23, 2025, a B SUV priced between 379,900 and 459,900 CNY [103]. - GAC Toyota will launch the Fenglanda on September 23, 2025, an A SUV with prices ranging from 132,800 to 172,800 CNY [114]. - GAC Toyota will also release the Sienna on September 23, 2025, a C MPV priced between 299,800 and 393,800 CNY [130]. - GAC Toyota will introduce the Camry on September 23, 2025, a B NB priced at 191,800 CNY [138]. - Geely will launch the Starry on September 23, 2025, an A NB with prices ranging from 98,700 to 138,700 CNY [145]. - Geely will also release the Xingyue L on September 23, 2025, an A SUV priced between 158,700 and 179,700 CNY [151]. Group 2: Specifications and Features - The Deep Blue S07 features a pure electric engine with a maximum power of 200 kW and a range of 550 km [12]. - The GAC Trumpchi Xiangwang S9 is equipped with a 1.5T plug-in hybrid engine, offering a maximum power of 118 kW and an electric range of 252 km [20]. - The Ford Lema has a 2.3T engine with a maximum power of 202 kW and a torque of 429 N·m [28]. - The NIO ES8 offers a maximum power of 520 kW and a torque of 700 N·m, with a battery capacity of 102 kWh and a range of 635 km [36]. - The Avita 07 features a pure electric engine with a maximum power of 252 kW and a range of 610 km [52]. - The iCAR V23 has a maximum power of 185 kW and offers a range of 550 km [60]. - The Lotus ELETRE features a maximum power of 450 kW and a range of 650 km [68]. - The CR-V offers a 1.5T engine with a maximum power of 174 kW and a torque of 350 N·m [84]. - The Buick GL8 has a 2.0T engine with a maximum power of 174 kW and a torque of 350 N·m [91]. - The Aion RT features a pure electric engine with a maximum power of 150 kW and a range of 650 km [96].

Overall Market - The overall market for passenger vehicles includes ICE (Internal Combustion Engine), BEV (Battery Electric Vehicle), and PHEV (Plug-in Hybrid Electric Vehicle) [4] - In the first eight months of 2025, the total production and sales of vehicles reached 2,481,169 units, with a year-on-year growth of 13.5% [5] - The market share of new energy vehicles (NEV) in the overall market reached 23.1% in production and 23.5% in wholesale [5] Submarket Analysis - The new energy vehicle market is segmented into BEV and PHEV, with significant growth observed in both categories [4] - The retail sales of new energy vehicles in August 2025 reached 1,114,901 units, showing an increase of 8.8% compared to the previous year [5] Export Market - The export of new energy vehicles in the first eight months of 2025 totaled 499,341 units, reflecting a growth of 20.2% year-on-year [5] - The overall export market for vehicles, including complete vehicles and CKD (Completely Knocked Down), showed a positive trend with a total of 2,481,169 units exported [5] Manufacturer Performance - BYD remains the top manufacturer in the new energy vehicle segment, with wholesale sales of 371,501 units, marking a growth of 10.2% [21] - Tesla China reported a decline in wholesale sales by 4.0%, totaling 83,192 units [21] Vehicle Type Segmentation - In August 2025, the retail sales of new energy vehicles were dominated by SUVs, with 543,141 units sold, followed by sedans and MPVs [26] - The overall retail market for new energy vehicles showed a significant increase in the SUV segment, indicating a shift in consumer preference [26] Brand Positioning - The luxury brand segment, including brands like Mercedes-Benz and BMW, continues to maintain a strong presence in the market, with competitive sales figures [4] - The market is segmented into price ranges, with vehicles priced below 100,000 yuan showing a notable increase in sales [4] Country Positioning - The export market for new energy vehicles is expanding, with countries increasingly adopting electric vehicles, contributing to the growth of the export segment [20] - The penetration rate of new energy vehicles in the export market reached 43.5% in 2025, indicating a growing acceptance of these vehicles globally [20] Price Positioning - The price segmentation of vehicles shows that the demand for mid-range vehicles (100,000 to 300,000 yuan) is increasing, reflecting changing consumer preferences [4] - The overall market dynamics indicate a shift towards more affordable electric vehicles, which is expected to drive future growth [4]

Core Insights - The article discusses the evolution of China's automotive industry, particularly focusing on the rise of domestic high-end brands like Geely and its subsidiaries, Lynk & Co and Zeekr, which are breaking the monopoly of foreign luxury brands [1][2][3] Historical Context - Geely's first model, the "Haoqing," launched in 1998, marked the entry of affordable cars into Chinese households, achieving over 150,000 sales from 2001 to 2003 [1] - The early Chinese automotive industry relied on reverse engineering, leading to a perception of low quality and imitation [1][4] - The entry of China into the WTO in 2001 significantly lowered tariffs and deregulated car prices, initiating the "year of the family car" in China [4][5] Market Dynamics - From 2001 to 2010, the average annual growth rate of car sales in China exceeded 20%, with total sales surpassing 18 million in 2010 [5] - The low-cost strategy of domestic brands forced foreign brands to adjust their pricing, leading to rapid market penetration [5][6] High-End Market Transition - The shift towards high-end markets became essential for survival and long-term growth, as companies sought to improve profit margins and challenge international perceptions of Chinese brands [5][6] - The launch of high-end models like the Hongqi L5 in 2013 marked the beginning of a serious push into the luxury segment [5][6] Technological Advancements - By 2025, China's automotive industry is expected to transition from "reverse development" to "technology export," with a focus on high-end electric vehicles [3][9] - The establishment of Zeekr as a luxury electric brand and its merger with Lynk & Co represents a significant milestone in China's high-end automotive sector [2][10] Global Expansion - By 2024, the penetration rate of new energy vehicles in China surpassed 50%, indicating a shift away from traditional fuel vehicles [15][16] - Zeekr and Lynk & Co have successfully entered global markets, with Zeekr009 becoming a top-selling luxury MPV in regions like Hong Kong and Thailand [16][17] Industry Collaboration - The integration of resources among Chinese brands has enhanced operational efficiency and product offerings, allowing for a more competitive stance in the global market [17] - The export of Chinese automobiles, particularly new energy vehicles, has seen significant growth, with 1.42 million units exported in 2025, marking a 41% increase year-on-year [16][17]

Core Insights - Geely and Mercedes-Benz have achieved indirect cooperation through Qianli Technology, with Mercedes investing approximately 1.342 billion yuan for a 3% stake in the company [1][2] - The collaboration aims to enhance Mercedes' localization and technological development in the Chinese market, while also strengthening Qianli Technology's competitive edge in the intelligent driving sector [1][4] Company Overview - Qianli Technology, formerly known as Lifan, transitioned from motorcycle manufacturing to automotive production and underwent restructuring in 2021, with Geely becoming a significant shareholder [3] - The largest shareholder of Qianli Technology is Chongqing Manjianghong Private Equity Investment Fund, with Geely indirectly holding a substantial stake through its investment arm [3] Business Development - Mercedes Digital, a wholly-owned subsidiary of Mercedes-Benz (China) Investment Co., focuses on various sectors including autonomous driving and has been recognized as a foreign R&D center in Shanghai [2] - The collaboration reflects a shift in the automotive industry from mere market partnerships to deeper technological and capital cooperation, integrating global resources into China's smart electric vehicle industry [2][4] Strategic Implications - The investment by Mercedes serves as an endorsement of Qianli Zhijia, Geely's unified intelligent driving platform, potentially increasing its valuation and market influence [4] - Qianli Zhijia is positioned as a core technology platform within Geely's ecosystem, indicating a strategic move towards independent development in intelligent driving solutions [3][4]

Core Viewpoint - Geely Holding Group's recent actions, including the successful launch of 12 satellites and strategic financing, indicate a significant advancement in its satellite communication project, positioning it as a key player in the commercial satellite industry in China [2][4][7]. Group 1: Satellite Launch and Network Development - Geely's subsidiary, Space-Time Daoyu, successfully launched 12 satellites into the "Geely Constellation," completing the first phase of its network [2]. - The company plans to deploy an additional 8 backup satellites, bringing the total to 72 operational satellites, enhancing communication capacity and reliability [4]. - The satellite launches have been characterized by a rapid and regular deployment schedule, indicating a strong operational capability [4]. Group 2: Strategic Partnerships and Financing - Space-Time Daoyu secured a strategic investment of 2 billion yuan from the Zhejiang New Energy Vehicle Industry Fund to support its global headquarters and business development [2]. - The company has established partnerships with various state-owned and private enterprises, enhancing its market position and resource access [5][8]. - The strategic financing reflects confidence from national entities in the potential of the commercial satellite industry [8]. Group 3: Market Potential and Growth - The global satellite IoT device market is projected to grow significantly, with an estimated 7.5 million connections by 2024 and a market size exceeding $4.7 billion by 2030 [7]. - The low Earth orbit satellite market is also experiencing rapid growth, with a current market size surpassing $5.5 billion and expected to reach $17.1 billion by 2030 [7]. - Space-Time Daoyu's satellite constellation aims to support real-time data communication globally, facilitating applications across various industries [7][9]. Group 4: International Expansion - Space-Time Daoyu is focusing on international markets, having signed agreements with operators in over 20 countries, with successful deployment tests in Oman [6]. - The company aims to enhance its global footprint, particularly in regions like the Middle East, Africa, Southeast Asia, Central Asia, and Latin America [6]. Group 5: Future Outlook - The completion of the first phase of the satellite network is seen as a clear signal to investors regarding the company's future commercial expansion opportunities [8]. - The ongoing support from Geely Group and strategic investors positions Space-Time Daoyu favorably for future growth and innovation in the satellite communication sector [8][9].

吉利控股集团董事长李书福在《汽车与道》中谈到："我们在全球投资收购有不同特色优势的汽车企业，其目的就是为了寻找有全球汽车产业优 秀基本功的根基，就是为吉利打造优秀的基本功。" 这里不仅是吉利安全技术体系与CMA、SEA等全球顶级架构的摇篮，更在智能辅助驾驶、动力总成等前沿领域持续突破，不断将各项全球领先技术量 产加速应用到极氪等品牌上。瑞典研发中心开发了全球首个面向自动驾驶和辅助驾驶技术的"失效安全"方案，在制动、转向、驱动失效时，通过冗余的安全 设计保障车内乘员安全。该方案还具备强可扩展性，可适用L2-L4级别的辅助和自动驾驶场景。 除此之外，已经研发并应用的浩瀚电混在行业内同样具有技术前沿性与领先性。这套电混系统能够智能识别行驶工况全局寻优，达到极致性能与能耗的 更好平衡，实现更出色的能耗效率与动力输出表现。 极氪9X正是吉利汇聚全球领先技术成果的集大成者，以浩瀚超级电混、浩瀚AI数字底盘、浩瀚安全盔甲、千里浩瀚智能辅助驾驶系统四大核心技术， 成为全球超豪华SUV新旗舰。据悉，该车型将于9月29日全球上市。 依托近30年造车实践探索与经验沉淀，吉利形成了由"五大造型中心、五大工程研发中心、五大试验区域、五 ...

Core Insights - In 2025, Chinese automotive brands are making significant inroads into the international automotive racing scene, challenging traditional automotive powerhouses from Europe, the US, and Japan [1] - Chinese brands are leveraging racing achievements to enhance their global brand image and showcase technological advancements, marking a shift towards a "track economy" that drives brand elevation and globalization [1] Group 1: Racing Achievements - BYD's brand Yangwang U9X set a new world record for electric vehicles with a speed of 496.22 km/h, surpassing many top gasoline sports cars [2] - The Chinese brand presence is increasing at the Nürburgring Nordschleife, with notable performances such as the Xiaomi SU7 Ultra and Yangwang U9X achieving impressive lap times [2][4] - Lynk & Co has achieved a remarkable "six years, seven championships" record in the World Touring Car Cup (WTCR), demonstrating the competitive capabilities of Chinese automotive brands [4] Group 2: Technological Advancements - The racing environment serves as a testing ground for vehicle technology, enhancing the electronic stability systems and transmission logic of vehicles, which in turn improves consumer models [4][9] - The "race-to-research" model allows companies to apply technical experiences gained from racing to marketable products, showcasing the complete technical capabilities of Chinese automakers [4][9] Group 3: Brand Value Enhancement - Participation in international racing events is crucial for Chinese brands to enhance their visibility and credibility, transforming abstract performance claims into tangible achievements like world championships [5][7] - The increase in audience engagement at events, such as the DTM weekend attracting 78,000 spectators, provides valuable exposure for participating brands [6] - Racing success is seen as a powerful tool for breaking down traditional perceptions of Chinese brands, establishing them as reliable and advanced in the global market [8][9] Group 4: Cultural and Economic Impact - The development of a robust racing culture is essential for the growth of the automotive industry, with countries like the UK serving as a model for integrating racing into the automotive economy [8] - The "track economy" is becoming a vital part of the Chinese automotive industry, fostering technological innovation, talent development, and brand culture [9]

Core Insights - The article emphasizes the increasing complexity, severity, and uncertainty in today's society, highlighting the need for companies to focus on creating long-term, sustainable value for stakeholders in an uncertain environment [1] ESG Strategy - Geely has made strategic investments in ESG (Environmental, Social, and Governance) initiatives, outlining a comprehensive ESG strategy that includes six core areas such as climate neutrality and natural benefits [1] - The company aims to achieve carbon neutrality by 2045, with a target to reduce carbon emissions by 25% by the end of 2024, having already achieved an 18% reduction as of now [1][2] Manufacturing and Energy Efficiency - Geely has already met its 2025 target of a 50% reduction in emissions ahead of schedule and has raised its target to 75% [2] - The company has installed 450 MWp of solar capacity, which meets 25% to 30% of its electricity needs, and has achieved a green electricity coverage rate of 64% across its manufacturing bases [2] - Energy consumption per vehicle has been reduced by 17.2%, with a goal of achieving a 20% reduction by the end of the year [2] Waste Management and Circular Economy - Geely has developed a "zero-waste management model" across its supply chain, with 12 factories recognized as national green factories, and 11 of them certified as "zero-waste factories" [2] - The company is focused on integrating sustainable practices into product design, increasing the use of recyclable and renewable materials [3][4] Supply Chain and Digital Transformation - Geely is enhancing its green supply chain management through digital platforms, enabling over 10,000 suppliers to report carbon footprints and achieve traceability for critical materials [4] - The company has implemented a certification mechanism for suppliers to ensure compliance with ESG and carbon reduction goals [4] New Energy Vehicles - Geely aims for over 50% of its sales to come from new energy vehicles by 2025, having achieved a 46% share in 2024, with sales of 888,000 new energy vehicles [7] - The company plans to launch two new methanol vehicles that can switch between oil, electricity, and methanol, expanding its clean energy offerings [7] Circular Economy Initiatives - Geely has established a circular industry center to manage resources efficiently, focusing on recycling vehicles, components, and materials [8][9] - The company has developed a complete classification and recycling system for materials, ensuring a closed-loop cycle from vehicle to raw materials [9] Recognition and Future Goals - Geely's low-carbon efforts have been recognized externally, with several models awarded "low-carbon leader" titles, and the company being named a "leader" in China's industrial carbon peak initiatives [9] - The company is committed to advancing its ESG strategy and building a sustainable automotive ecosystem [10]