Ford and General Motors are in talks over a financing deal to help parts supplier First Brands Group secure liquidity while operating under Chapter 11 protection. According to the Financial Times, the two automakers are among several manufacturers negotiating with the Ohio-based company on an arrangement that would involve advance payments for expected deliveries, giving First Brands short-term cash. One source said discussions were close to the “finish line”, though the proposal could still collapse. ...

Key Takeaways BYD signed a strategic MoU on Jan. 26, 2026, to strengthen cooperation in new-energy hybrid technology.ExxonMobil will collaborate on R&D, technical work, industry standards and brand-level efforts.XOM will support overseas plants with global logistics, compliant lubricants and material innovations.China’s largest automaker, BYD Company Limited (BYDDY) and Exxon Mobil Corporation’s (XOM) entity in China, ExxonMobil China Investment Co., Ltd., have agreed to strengthen their cooperation in new- ...

Core Viewpoint - The 2026 Future Industries New Materials Expo (FINE 2026) aims to lead global innovation in new materials, emphasizing their critical role in the transformation of high-tech industries and the future economy [1][2]. Group 1: Event Overview - FINE 2026 will take place from June 10 to 12, 2026, at the Shanghai New International Expo Center, featuring a total exhibition area of 50,000 square meters and over 800 exhibitors [12][34]. - The expo will include more than 300 strategic and cutting-edge technology reports, showcasing innovations applicable to various industries such as AI, aerospace, smart vehicles, and renewable energy [2][20]. Group 2: Focus Areas - The event will concentrate on five common demands of future industries: advanced semiconductors, advanced batteries, lightweight functional materials, low-carbon sustainability, and thermal management [2][10]. - Six thematic exhibition areas will be established, including advanced semiconductors, advanced batteries and energy materials, thermal management, lightweight and sustainable materials, new materials technology innovation, and future smart terminals [12][15]. Group 3: Participation and Audience - The expo is expected to attract over 100,000 professional visitors, including industry leaders and investors, facilitating precise connections between enterprises and industry resources [34][35]. - A targeted invitation will be extended to over 5,000 industry investors to support quality startups and enhance resource accumulation [10][35]. Group 4: Supporting Organizations - The event is organized by DT New Materials, in collaboration with various associations and institutions, including the China Productivity Promotion Center and the Ningbo New Materials Industry Association [4][5]. - The organizing body has a decade of experience in the new materials sector, with extensive connections across industries such as semiconductors, robotics, and renewable energy [10][44]. Group 5: Historical Context and Expectations - The previous editions of the expo, including the 2025 International Carbon Materials Expo and the 2025 Thermal Management Expo, achieved record attendance and participation, indicating a strong foundation for FINE 2026 [7][34]. - The event is positioned as a pivotal opportunity for businesses to engage in technology transfer and innovation integration, aiming to solidify the material foundation for the next decade of high-tech industry development in China [2][10].

BYD is reassessing its India strategy, including considering local assembly, as surging demand and import limits constrain the Chinese electric vehicle maker’s growth in the country. The company is evaluating semi-knocked-down (SKD) assembly and pursuing safety and regulatory approvals for more models because quotas are constraining growth, Bloomberg reported citing sources. India had earlier turned down BYD’s plan for a full manufacturing facility, but assembling SKD kits could prove cheaper and easier ...

今年1-6月的俄罗斯车市的销量在10万辆左右呈现较平稳走势，俄罗斯车市7- 9月13.5万辆的走势相对改善。4季度销量进一步改善，10月达到18.3万辆，11 月回落到14.2万辆，但12月回升到15.5万的当月近期高点。俄罗斯车市逐步接近历史峰值的车市表现。 智通财经APP获悉，崔东树发文称，2025年12月俄罗斯汽车销量达到15万辆的水平，同比增6%；2025年全年俄罗斯车市的累计销量149万辆，同比下降 19%。由于前期中国出口中亚和俄罗斯的车辆逐步过剩建立库存，2025年是自主在俄罗斯去库存的艰难时期，但2025年4季度开始已经走过。2025年1-12 月俄罗斯的中国自主车企份额回升到57.2%，12月自主车企在俄罗斯份额回升到54.7%。 面对俄罗斯的复杂环境，自主品牌多生孩子好打架的战略意义重大。自主品牌的整车官方出口，平行出口、绕道出口、本地化建厂、合资组装等各种模式 齐上阵，大量的品牌群狼作战，实现了很好的效果。规范出口对俄罗斯是不适合的，尤其我们面对是俄罗斯的针对性干扰措施，一定要在复杂的国际关系 下发挥群众优势，实现创新式发展。 中国车企在俄罗斯加速本土化生产与供应链重构，多项举措改善状态 ...

Core Viewpoint - The automotive industry is experiencing a significant decline in profitability, with upstream components showing steady growth, while vehicle manufacturing and downstream dealerships face considerable pressure [1][2]. Group 1: Profitability Trends - In 2025, the automotive industry achieved a profit of 461 billion yuan, a year-on-year increase of 0.6%, but the sales profit margin dropped to 4.1%, lower than the average of 5.9% for downstream industrial enterprises [2]. - The profit margin for the automotive industry fell to 4.1% in 2025, marking a five-year low, with December profits plummeting to 20.7 billion yuan, a year-on-year decrease of 57.4% [2][3]. - The overall profit margin for the automotive industry in December 2025 was the lowest in five years, with a significant decline from 4.1% in December 2024 to 1.8% [2]. Group 2: Performance of Different Segments - Among 129 A-share automotive parts companies, 80 reported a year-on-year profit increase, indicating over 60% had both revenue and profit growth [3]. - In the vehicle manufacturing segment, 16 out of 22 A-share car manufacturers were profitable, but major players like BYD and GAC Group saw significant profit declines, with GAC Group's profit dropping by 3691.33% [3]. - The downstream dealership segment is under severe pressure, with only 28% meeting sales targets and a loss rate climbing to 55% [3]. Group 3: Cost Pressures - The overall unit cost for industrial enterprises has increased significantly, with lithium carbonate prices doubling and raw material costs rising for midstream and downstream sectors [3][4]. - The cost of a typical mid-sized smart electric vehicle has increased by 4,000 to 7,000 yuan due to rising prices of lithium, aluminum, and copper, which are difficult for manufacturers to pass on to consumers [4]. - Starting in 2026, a 5% purchase tax on new energy vehicles and changes to subsidy policies will further increase consumer costs, complicating demand and supply dynamics in the automotive market [4]. Group 4: Strategic Responses - Some automotive companies are accelerating collaboration with upstream suppliers to address challenges, as seen in the strategic discussions between China Aluminum Group and China FAW Group [5].

图源 特斯拉官方账号 汽车业内对L3的态度似乎走向了两个极端。 一个极端是短暂过渡、推广延后或直接"跳过"。2025年底，小鹏一反年初时的规划，创始人何小鹏在体验特斯拉FSD V14.2后，发文称"在2026年，无论美 国，还是中国，下一代真正的，全自动驾驶会真正到来，直接从L2到L4（L3已经被跳过）"；今年1月，德国《商报》报道称梅赛德斯-奔驰暂时搁置此前 大力推进的L3级自动驾驶系统推广计划，即将发布的改款豪华轿车S级也将不再提供L3级自动驾驶功能；同月的奇瑞AI之夜上，L4成为自动驾驶部分的主 角；百度、地平线等相关人士也曾公开表示L3只是"短暂过渡"。 另一端则是加速落地。2025年12月，工信部向长安深蓝SL03、北汽极狐阿尔法S的两款L3车型发放了准入许可，这也是国内首批发放的L3级高速公路自动 驾驶车辆专用号牌。上汽、一汽、比亚迪、鸿蒙智行、理想等多家车企表示其已获得规定区域的L3测试牌照，为获得准入做准备。其中，比亚迪宣布目 前已顺利完成超过15万公里的L3级自动驾驶实际道路验证，鸿蒙智行已经完成了超过2万公里的L3实际道路验证、6亿公里的高速L3仿真验证，已经"箭在 弦上"。 一方是"跳过 ...

“I’m often invited to simply choose between countries,” Starmer said in an interview with Bloomberg before departing London for four days of talks with officials including President The UK leader is bringing a delegation heavy on British banking executives — from HSBC Holdings Plc, Barclays Plc and Standard Chartered Plc — and cultural emissaries representing the arts and sports. A range of manufacturers are also making the trip, including Airbus SE, AstraZeneca Plc, Brompton Bikes, Jaguar Land Rover and ...

在全球锂电产业从"产品出海"向"产能出海、技术出海、资本出海"全面升级的浪潮下，中国新能源龙头企业比亚迪正加速海外业务布局。 1月27日消息，越南汽车制造商Kim Long汽车（越南金龙汽车）在顺化工业园与比亚迪举行战略合作签约仪式，同步启动比亚迪技术支持的 新能源电池制造厂奠基工作，这一举措既是比亚迪"电动汽车+动力电池"双轮驱动战略的海外落地，更是中国锂电企业深耕东南亚市场的又一 重要里程碑。 此次合作项目精准契合越南新能源市场的爆发式增长需求。作为"摩托车王国"，越南正通过严苛的"禁摩令"推动交通绿色转型，政府明确 2026年7月起河内一环内禁止燃油摩托车通行，2030年三环内全面限制化石燃料交通工具，叠加电动汽车注册费减免、东盟零关税等政策激 励，越南电动车市场迎来井喷。 长期来看，项目为比亚迪积累了东南亚市场运营经验，二期乘用车电池研发产能的布局，可同步对接越南VinFast等本土车企及海外品牌的需 求，为后续乘用车业务出海铺垫。更重要的是，技术输出模式既能发挥比亚迪在磷酸铁锂电池领域的技术壁垒，又能通过合作共赢提升品牌国 际影响力，与其他企业直接海外建厂形成差异化竞争，完善全球市场布局。 值得注意 ...

零部件： 1）智能化：推荐智能驾驶-【伯特利、地平线机器人、科博达】，智能座舱-【继峰股份】； 2）新势力产业链：推荐H 链-【星宇股份、沪光股份】；推荐T 链-【拓普集团、新泉股份、双环传 动】；3）出海链：推荐【爱柯迪、中鼎股份】。 机器人：推荐汽配机器人标的【拓普集团、新泉股份、伯特利、银轮股份、均胜电子、沪光股份、豪能 股份、爱柯迪、双环传动、隆盛科技】，汽车机器人主机厂【小鹏汽车】。 摩托车：推荐中大排量龙头车企【春风动力、隆鑫通用】。 轮胎：推荐【赛轮轮胎、森麒麟】。 本周行情：汽车板块本周表现优于市场。汽车板块本周表现优于市场。本周（1 月19 日-1 月25 日）A 股汽车板块上涨2.6%，在申万子行业中排名第14 位，表现优于沪深300（-0.6pct）。细分板块中，汽车 服务、商用载货车、汽车零部件、摩托车及其他、商用载客车分别上涨6.9%、4.8%、4.0%、1.4%、 0.7%，乘用车-1.4%。 本周观点：本月建议关注核心组合【吉利汽车、小鹏汽车、比亚迪、伯特利、拓普集团、新泉股份、春 风动力】。 特斯拉计划2027 年面向公众销售机器人，关注机器人板块。智通财经1 月22 日报道， ...