Core Viewpoint - Li Auto has announced plans to sue the self-media account "25 Degree Exam Room" for spreading misleading information about its vehicle performance, which the company claims has severely damaged its reputation and disrupted fair market competition [1] Group 1: Legal Action - The legal department of Li Auto has identified multiple self-media accounts that are allegedly creating and disseminating false conclusions about vehicle performance for improper traffic gain [1] - The company has gathered evidence and intends to pursue legal action against the responsible parties to hold them accountable for their actions [1] Group 2: Specific Incident - On September 16, the self-media account "25 Degree Exam Room" published a video titled "Li Auto is not ideal, how much is the range of the ideal i8 with the lowest drag coefficient," which allegedly misrepresented the vehicle's performance through selective editing and omission of improper testing procedures [1] - This video is claimed to have maliciously defamed the ideal i8, leading to significant reputational harm for Li Auto [1] Group 3: Industry Context - The announcement references a notice regarding the special rectification of online chaos in the automotive industry, which emphasizes the crackdown on "false or non-standard evaluations" [1] - Li Auto's actions align with industry efforts to maintain fair competition and protect consumer interests from misleading information [1]

理想汽车指出，此类内容已超出正常评价范畴，严重损害企业产品声誉，扰乱市场公平竞争秩序。公司 强调，《关于开展汽车行业网络乱象专项整治行动的通知》中明确要求重点打击"虚假或不规范测评"行 为。 目前，理想汽车表示已全面完成证据固定工作，并将依法对相关责任主体提起诉讼，坚决追究其法律责 任。 凤凰网科技讯 9月23日，理想汽车法务部官方发布声明称，近日发现多家自媒体账号以"评测"为名蓄意 制造并传播与事实严重不符的车辆性能结论，涉嫌恶意造谣及误导消费者。 其中，自媒体账号"25度考场"于9月16日在微博、微信视频号、B站等平台发布的题为《理想不理想， 拥有最低风阻的理想18续航多少》的视频，被指存在隐瞒不当操作、剪裁测试过程等行为，制造虚假性 能结论并对车辆进行恶意贬损。 ...

Domestic News - The Ministry of Industry and Information Technology and four other departments have issued a plan for the steel industry, targeting an average annual growth of around 4% in value added over the next two years, focusing on quality upgrades in major steel-consuming industries such as automotive and machinery [2] - In August, the retail sales of new energy passenger vehicles increased by 7.5% year-on-year, with a penetration rate of 55.2%, indicating a steady growth in the consumption market [3] - The State Administration for Market Regulation has revised and published national standards for urban public transport and car rental services, which will take effect on November 1, emphasizing the verification of rental operators and vehicles [4] - Since the beginning of the 14th Five-Year Plan, the cumulative insurance coverage for motor vehicles has exceeded 1.6 billion instances, marking a 40% increase compared to the previous five-year period [5] International News - In the first 20 days of September, South Korea's automobile export value increased by 14.9% year-on-year, reaching $3.42 billion, despite an overall export decline due to new U.S. tariff policies [6] - Belgium's exports of passenger cars to the U.S. plummeted by 45% from May to July, contributing to a trade deficit of €2.2 billion with the U.S. during this period [7] - Porsche announced a significant adjustment to its electric platform development timeline, extending the market lifecycle of existing internal combustion engine models while introducing new models [8] Company News - China FAW Group Corporation is in the public announcement period for its acquisition of a stake in Shenzhen Zhuoyu Technology Co., which specializes in advanced driver-assistance systems (ADAS) [9] - Geely Automobile issued 24,000 ordinary shares due to the exercise of stock options under its plan adopted in April 2023 [10] - Li Xiang, CEO of Li Auto, clarified that there is no model named "Li Xiang i7," addressing public inquiries about the vehicle [11] - CATL signed a strategic cooperation agreement with the People's Government of Milin City, focusing on new energy projects and zero-carbon industries [12] - WeRide partnered with Grab to launch the Ai.R autonomous driving service in Singapore, marking the first such service in residential areas [13]

Core Viewpoint - The success of the MEGA model, achieving monthly sales of over 3,000 units, highlights the importance of product strength despite initial controversies regarding its pricing and appearance [1]. Group 1: Customer Traffic and Sales Performance - In a third-tier city, the local delivery center experiences daily foot traffic of over 200 customers, with weekends seeing around 500 [2]. - Last month, the store sold 86 vehicles, with 4 MEGA units delivered, indicating a steady demand [3]. Group 2: Customer Demographics and Preferences - The majority of MEGA buyers are families, particularly those with two children, making up 70% of the customer base [5]. - Customers are generally well-informed and come specifically to purchase the MEGA, often without needing extensive sales pitches [5][7]. Group 3: Competitive Landscape - MEGA customers rarely mention competitors, indicating a strong brand loyalty and direct interest in the MEGA model [10]. - While some competitors like GL8 and D9 are occasionally referenced, they are not the primary focus for MEGA buyers [10]. Group 4: Vehicle Configuration and Pricing - The MEGA is available in two versions, Home and Intelligent Renewal, with no significant issues regarding sellability of configurations [12]. - The pricing strategy includes a down payment starting at ¥15.98 million, with various financing options available [13]. Group 5: Customer Feedback - Customers have praised the intelligent driving assistance system, especially after the introduction of VLA [17]. - Positive feedback also includes spaciousness, comfort, and the convenience of the charging network [19][20]. Group 6: Maintenance Costs - Routine maintenance costs are relatively low, averaging around ¥300 for standard services [22]. Group 7: Customer Sentiment - Customers are encouraged to purchase vehicles they genuinely like, rather than succumbing to external opinions [24].

Group 1 - The three major US stock indices collectively rose, with the Dow Jones up 0.14%, the Nasdaq up 0.7%, and the S&P 500 up 0.44% [1] - Major technology stocks saw significant gains, with Oracle rising over 6%, Apple increasing over 4%, and Nvidia climbing nearly 4% [1] - Popular Chinese concept stocks mostly declined, with NIO down over 6%, JD.com down over 3%, and Miniso down over 2% [1] Group 2 - Century Internet rose over 4%, and iQIYI increased over 3% [1] - Amazon and Meta both fell by more than 1% [1] - Li Auto and Bilibili also experienced declines of over 1% [1]

Group 1 - The meeting between Chinese Vice Premier He Lifeng and a U.S. congressional delegation indicates a strategic direction for stabilizing China-U.S. relations, emphasizing mutual respect and cooperation [5] - The U.S. stock market saw all three major indices rise, with the Dow Jones up 0.14%, Nasdaq up 0.7%, and S&P 500 up 0.44%, marking new closing highs [5] - International precious metals futures experienced a general increase, with COMEX gold futures rising by 2.03% to $3781.20 per ounce and silver futures up by 3.17% to $44.32 per ounce [6] Group 2 - The People's Bank of China reported that as of the end of June, the total assets of the banking sector reached nearly 470 trillion yuan, ranking first in the world [10] - The China Securities Regulatory Commission (CSRC) announced plans to deepen reforms in the Sci-Tech Innovation Board, Growth Enterprise Market, and Beijing Stock Exchange, aiming to enhance the capital market's attractiveness and competitiveness [11] - The Shanghai Stock Exchange aims to promote long-term capital inflows to stabilize and activate the capital market, supporting the development of new productive forces [12] Group 3 - The announcement of the acquisition of Shenzhen Zhuoyu Technology by China First Automobile Works (FAW) is significant for FAW's strategy in the advanced driver-assistance systems (ADAS) sector [18] - Huawei's upcoming WATCH GT 6, featuring a new high-silicon stacked battery, promises a 50% increase in battery life compared to its predecessor, potentially enhancing user experience in the smartwatch market [20] - BYD's response to Warren Buffett's divestment from the company emphasizes a mature perspective on stock investment, highlighting the normalcy of buying and selling in the market [22] Group 4 - Xiaomi's upcoming launch of the Xiaomi 17 series on September 25, along with CEO Lei Jun's annual speech, is expected to positively impact the company's market performance and strategic direction [23] - Li Auto's restructuring of its autonomous driving department may influence the company's future technological advancements and product development in the smart driving sector [24] - DeepSeek's update to version 3.1 aims to improve user experience and demonstrates the company's commitment to technological development, potentially leading to industry innovation [25]

Group 1 - The Nasdaq China Golden Dragon Index fell by 0.96% on September 23 [1] - Most popular Chinese concept stocks experienced declines, with NIO dropping over 6%, JD.com down over 3%, and Miniso down over 2% [1] - Ideal Automotive and Bilibili both saw declines of over 1% [1] Group 2 - Century Internet rose by over 4%, and iQIYI increased by over 3% [1]

Core Viewpoints - The role of Li Xiang in Li Auto's autonomous driving can be highly compared to Elon Musk's role in Tesla's autonomous driving, focusing on resource expansion, ensuring continuous investment, and possessing the ability to understand AI fundamentals and participate in technical discussions [1][2][3] - The main contradiction in Li Auto's autonomous driving development lies in the global AI industry's development stage, the matching of various production factors, and the capabilities of Li Xiang [1][5] Group 1: Resource Management - Li Xiang's core functions include expanding resources, ensuring sustained investment, and having the ability to make critical judgments regarding the company's long-term direction and technology roadmap [3][4] - The adjustment of Li Auto's secondary departments from 3 to 11 indicates a minor contradiction under the broader context of resource matching [2] Group 2: Iteration and Development - Li Auto is expected to have multiple high-quality rapid iterations in the next 1-12 months due to a clear iterative direction [2][6] - The focus on enhancing simulation data quality and leveraging existing vehicle computing power is crucial for the development of autonomous driving capabilities [6][7] Group 3: AI and Organizational Structure - Successful implementation of physical AI is essential for Li Auto to excel in autonomous driving, requiring a leader who can make key judgments and adapt the organizational structure accordingly [6][8] - The importance of having the right talent aligned with future needs rather than relying solely on past achievements is emphasized, suggesting that the right fit is more critical than resumes [11]

Group 1 - Recently, Li Auto has restructured its autonomous driving department, splitting the original three secondary departments into multiple new ones to enhance efficiency and quality in technology breakthroughs and product implementation [1][4] - The restructuring includes the division of the model algorithm team into three departments: foundational models, VLA models, and model engineering; the mass production R&D team into mass production delivery, software R&D, and active safety; and the data closed-loop team into data platform and data annotation [1][4] - The CEO, Li Xiang, outlined the development of the company's assisted driving in three stages, with the latest stage involving the VLA model, which aims to achieve a level of intelligence comparable to humans by integrating 3D and 2D visual data [2][4] Group 2 - The VLA driver model is described as the third generation of Li Auto's assisted driving technology, capable of understanding road conditions, responding to human commands, and remembering driver habits, resembling a personal driver [4] - The restructuring has resulted in the autonomous driving department being divided into 11 secondary departments, indicating a significant organizational shift to adapt to new R&D rhythms [4] - An innovation department has been added to oversee external technology collaborations and overseas development, managed by the former head of the data closed-loop team [4]

Investment bank Piper Sandler has updated its Tesla Inc. TSLA price target to $500 following a visit to China, where it met officials from Li Auto Inc. LI, Stellantis NV STLA, owned Leapmotor and more.Chinese Companies Look Towards Tesla For Guidance, Piper Sandler SaysIn a new investor's note released by the bank, shared on the social media platform X on Sunday by Future Fund LLC‘s Gary Black, Piper Sandler said that it met with Chinese EV makers, saying that the "vertically-integrated Chinese OEMs may be ...