Core Viewpoint - Ford is negotiating with BYD for battery supply for its hybrid vehicles produced in overseas factories, aiming to expand its hybrid model lineup globally [1] Group 1: Negotiation Details - Ford is in talks with several battery suppliers, with BYD being one of them [1] - No agreements have been reached yet regarding the battery supply [1] Group 2: Production and Market - The negotiations are intended to support Ford's international factories producing hybrid models for global markets, including the U.S. [1] - Most hybrid vehicles sold by Ford in the U.S. will still be produced in North American factories [1] Group 3: Company Responses - BYD has not yet responded to inquiries regarding the negotiations [1] - A Ford spokesperson stated that the company communicates with various enterprises but does not comment on rumors or speculation related to business matters [1]

福特汽车正与比亚迪就建立合作伙伴关系进行深入洽谈，根据该计划，这家美国汽车制造商将从中国汽 车巨头处采购电池，用于其部分混合动力车型。 1月15日，据华尔街日报消息，知情人士透露，双方目前仍在讨论具体的合作模式。目前的方案之一 是，福特将把从比亚迪采购的电池运往其位于美国境外的工厂进行生产。谈判仍在进行中，最终交易能 否达成尚存变数。 若协议达成，福特将与这家拥有尖端技术和成本优势的中国最大汽车公司联手。随着福特缩减纯电动汽 车业务并加大混合动力车型的投入，公司亟需高质量的电池供应商，而比亚迪在这一领域具备成熟的制 造能力。 与此同时，福特计划扩大燃油车阵容并增加混合动力车型选择，这需要更多适用于混合动力车的电池。 福特混合动力车销售已显示增长势头。去年第四季度，该公司混合动力车销量同比增长18%，达到约 5.5万辆。 在本周的底特律车展上，福特首席执行官Jim Farley表示，公司在F-150混合动力版本上取得成功，现在 希望扩展到其他混合动力和增程车型。 报道指出，福特上月宣布将战略重心从纯电动车转向混合动力车型，目标是到2030年使混合动力、插电 式混合动力和纯电动车型占其全球销量的约一半。 比亚迪电 ...

【文/观察者网 潘昱辰 编辑/赵乾坤】据《华尔街日报》1月16日报道，知情人士透露，福特汽车正在与 比亚迪商讨为其部分混合动力车型采购电池，并可能将电池进口到福特在美国以外的工厂。 知情人士称，两家公司仍在讨论这种合作将如何运作。谈判仍在进行中，且有可能无法达成协议。 对此传言，观察者网向比亚迪方面求证，截至发稿尚未得到回应。 比亚迪出海汽车 东方IC 福特F-150生产线 东方IC 然而，这项潜在合作引发了美国政客和美国汽车高管们的担忧，认为其将对美国汽车工业构成威胁。法 利曾表示，福特计划推出的3万美元电动皮卡，将是对正在全球夺取市场份额的中国品牌的回应。 在《华尔街日报》报道了这项潜在交易后，美国总统特朗普的贸易顾问彼得·纳瓦罗在X平台上妄言，福 特的想法是在支撑中国竞争对手的供应链，并让自己更容易受到"勒索"。 事实上，已有多家美国汽车制造商与外国电池制造商建立合作关系。如通用汽车和福特都曾与韩国电动 制造商建立合资企业。 福特和比亚迪早有合作渊源。早在2020年，中国合资企业长安福特生产的汽车上就曾使用比亚迪电池。 其后比亚迪也曾主动联系福特，希望为销往其他市场的福特汽车提供电池。 对福特而言，随着 ...

福特上月表示，由于电动车需求下滑，公司将调整战略减少电动车生产，并计提大约195亿美元的费 用，主要与其电动车业务相关。福特表示，到2030年，公司全球汽车销量中大约一半将由混合动力车、 增程型插电式混合动力车和纯电动车组成。 与此同时，福特计划扩充其燃油车产品线，并扩大混合动力车型选择。因此，福特需要更多适用于混动 车型的电池。 凤凰网科技讯 北京时间1月16日，据《华尔街日报》报道，知情人士称，福特汽车正在与比亚迪 （002594）磋商一项合作，计划为其部分混动车型采购比亚迪生产的电池。 两家公司目前仍在磋商合作方式。知情人士称，其中一种方案是，福特将从比亚迪进口电池，用于福特 在美国以外的工厂。谈判仍在进行中，合作最终能否达成尚不确定。 如果这项合作达成，福特将与比亚迪这个中国最大汽车公司联手。此前，比亚迪生产的高性价比电动车 已让美国汽车行业深感不安。 福特发言人对此表示："我们与众多企业就各类事宜保持沟通。"截至发稿，比亚迪发言人不予置评。 在成为全球大型汽车制造商之前，比亚迪已经发展出成熟的电池制造业务，包括为混动车型生产电池。 目前，比亚迪大部分电池仍在中国生产，但随着其在东南亚、欧洲和巴西等市 ...

对此，瑞银全球投资银行亚太股票资本市场联席主管胡凌寒表示，香港市场资金池与全球互通，"当池 子繁荣发展，就能吸引全球资金"。她表示，去年，比亚迪和小米均在香港完成了大规模融资，比亚迪 募资总额约为56亿美元，小米约为53亿美元，香港市场能迅速支撑如此规模发行，背后正是因为市场繁 荣、企业优秀，能快速调动全世界资金池融入资本市场。"中国领先的AI企业，受资本的关注和支持非 常高"， 胡凌寒称，即使这些股票涨幅翻了数倍，也仍能看到外资基金通过瑞银进行买入。 "和美国相比，中国的AI泡沫概率小得多，短期还看不到明确的AI泡沫迹象。" 瑞银中国互联网行业分 析师熊玮14日分析原因称，首先，中国模型厂商没有太多循环融资现象，中国领先的大模型公司，很多 靠母公司自有现金流，产生健康的可持续现金流，来支持AI研发与投入。根据统计，2025年中国头部 互联网大厂总资本开支约为4000亿元人民币，约为美国同行的1/10，但中国模型能力与美国不相上下， 并且在持续追赶。 熊玮预计，2026年中国科技将继续推动模型的快速迭代，逐渐缩小与美国最先进模型能力的差距。"美 国模型追求的是智能水平全球领先，但同时价格也非常贵。实际模型落地 ...

Core Insights - The automotive market in 2026 is characterized by significant differentiation in sales targets among major car manufacturers, with a total target exceeding 21.55 million units, approximately 63% of the 2025 domestic sales volume [1] - Traditional automakers are focusing on stable growth rates of 10% to 30%, while new entrants and cross-industry brands are setting aggressive targets of 34% to 67.5%, indicating a strong push for market share [1] Summary by Company - **Geely**: Set a sales target of 3.45 million units for 2026, a 14% increase from 2025, with a focus on 2.22 million units of new energy vehicles (NEVs), achieving a penetration rate of 64.3% [1] - **Chery**: Aims for 3.2 million units, a 14.03% increase from 2025's 2.81 million units, with plans to launch 17 key models [2] - **Dongfeng Group**: Targets 3.25 million units, a 30% increase from 2025, with 1.7 million NEVs and 600,000 units for export [2] - **Great Wall Motors**: Sets a more conservative target of 1.8 million units, a 36% increase from 2025's 1.32 million units [2] - **Leap Motor**: Aims for 1 million units, a 67.5% increase from 2025's 596,600 units, leveraging core technology and a competitive parts system [2] - **Xiaomi**: Targets 550,000 units, a 34% increase from 2025's 410,000 units, emphasizing a stable expansion strategy [3] - **NIO**: Plans for a sales range of 456,000 to 489,000 units, maintaining a growth rate of 40% to 50% [3] - **GAC Toyota**: Sets a conservative target of 800,000 units, a 3.6% increase from 2025 [3] - **SAIC Volkswagen**: Aims for 1 million units, maintaining 2025 levels, with plans for 7 new NEV models [3] Market Dynamics - The automotive industry is shifting from incremental expansion to competition within existing market shares, with varying growth rates reflecting companies' strategies and market conditions [4] - Traditional automakers are generally targeting growth rates between 13% and 30%, with NEV sales growth rates significantly higher, indicating a consensus on NEVs as the main growth driver [4] - New energy vehicle sales targets are notably higher than overall sales targets, with Geely and Changan targeting 32% and 26.2% growth rates respectively [4] Strategic Considerations - The high growth targets set by new entrants are driven by the need for scale to improve cash flow and profitability, but achieving these targets will require strong organizational capabilities [5] - Key factors influencing the achievement of sales targets include the rollout of new energy products, success in overseas markets, and the overall capability of the companies [6] - The industry is expected to see a 4.3% growth in exports, with companies like BYD targeting 1.5 to 1.6 million units for overseas sales [6]

Core Insights - The automotive market in 2026 is characterized by significant differentiation in sales targets among major car manufacturers, with a total target exceeding 21.55 million units, approximately 63% of the 2025 domestic sales volume [1] - Traditional automakers are focusing on stable growth rates of 10% to 30%, while new entrants and cross-industry brands are setting aggressive targets ranging from 34% to 67.5%, indicating a strong push for market share [1] Summary by Company - Geely aims for a sales target of 3.45 million units in 2026, a 14% increase from 2025, with a focus on 2.22 million units of new energy vehicles, achieving a penetration rate of 64.3% [1] - Chery targets 3.2 million units, a 14.03% increase from 2025, with plans to launch 17 key models focusing on electrification and intelligence [2] - Dongfeng Group sets an ambitious target of 3.25 million units, a 30% increase from 2025, with a focus on 1.7 million new energy vehicles and 600,000 exports [2] - Great Wall Motors adopts a more cautious approach with a target of 1.8 million units, reflecting a 36% increase from 2025 [2] - Leap Motor aims for 1 million units, a 67.5% increase, building on a strong 2025 performance of 596,600 units [2] - Xiaomi targets 550,000 units, a 34% increase, emphasizing a production strategy driven by orders [3] - NIO sets a sales target range of 456,000 to 489,000 units, maintaining a growth rate of 40% to 50% [3] - GAC Toyota's target is 800,000 units, a modest 3.6% increase, while SAIC Volkswagen aims for 1 million units, maintaining its 2025 target [3] Market Dynamics - The differentiation in sales targets reflects a shift from incremental expansion to competition within existing market shares, with the difficulty of achieving these targets closely tied to each company's base, product layout, and systemic capabilities [4] - Traditional automakers are generally targeting growth rates between 13% and 30%, with a notable emphasis on new energy vehicle sales growth, which is significantly higher than overall growth targets [4] - New energy vehicles are recognized as the main growth engine, with companies like Geely and Changan setting ambitious growth targets for their new energy vehicle sales [4] - The aggressive targets set by new entrants are seen as a response to the need for scale, cash flow improvement, and valuation support, although they face challenges in converting scale into systemic strength [5] Key Factors for Target Achievement - The success of sales targets hinges on three main dimensions: the rollout of new energy products, effectiveness in overseas market expansion, and the overall systemic support capabilities of the companies [5] - Companies like Geely and Changan are expected to achieve their targets due to stable completion rates and robust channel layouts, while some joint venture brands may face risks of market share erosion despite conservative targets [5]

Core Insights - Douyin, in collaboration with the China Listed Companies Association, launched a special project titled "Burning Up! National Heavy Equipment" to showcase China's leading enterprises in various industries, aiming to present these technologies in a more relatable manner to the public [1][6] - The project features 53 content creators who have collectively garnered over 170 million followers, producing 56 exclusive in-depth exploration videos that have achieved over 4 billion views and 60 million likes within a month [1][8] Group 1: Project Overview - The initiative invites creators to explore 12 top-tier Chinese enterprises, including China Railway Construction and Blue Arrow Aerospace, providing unique insights into significant engineering projects [1][2] - Douyin supports creators through mechanisms like the "Creation Ladder Plan," offering access to rare filming locations, expert resources, and traffic incentives [1][6] Group 2: Content Highlights - Content creators have produced videos that detail the construction of the world's longest underwater high-speed rail tunnel, showcasing the advanced technology and capabilities of Chinese infrastructure [2][3] - Videos also cover various sectors, including agriculture, with creators documenting innovative irrigation techniques in Yunnan, recognized by the UN for drought resistance [3][5] Group 3: Audience Engagement - The project has resonated with viewers, with many expressing admiration for China's engineering prowess and technological advancements through comments on social media [8] - Douyin aims to continue promoting the "National Heavy Equipment" initiative, inviting more enterprises and creators to participate in showcasing China's technological achievements [8]

Core Viewpoint - Ford Motor Company is in discussions with BYD for a potential partnership where Ford would source batteries for its hybrid models from BYD, addressing its need for a battery supplier as it shifts focus from electric vehicles to hybrid models [1][2][5]. Group 1: Partnership Discussions - Ford and BYD are negotiating the terms of a collaboration, with one proposal involving Ford importing batteries from BYD for its factories outside the U.S. [1][4]. - The negotiations are ongoing, and there is a possibility that an agreement may not be reached [2][5]. Group 2: Strategic Shift - Ford is adjusting its strategy in response to declining demand, planning to reduce its electric vehicle business and increase investment in hybrid vehicle production [2][6]. - The company aims for hybrid, plug-in hybrid, and electric vehicles to account for approximately 50% of its global sales by 2030 [6]. Group 3: Battery Supply Needs - As Ford expands its hybrid vehicle lineup, it requires more batteries suitable for these models, which BYD can provide [2][6]. - BYD has produced some batteries for commercial vehicles at its California facility but has not yet manufactured passenger vehicle batteries in the U.S. [6]. Group 4: Manufacturing Developments - Ford is constructing a battery plant in Marshall, Michigan, utilizing technology from CATL to produce cost-effective battery cells, with production expected to start this year [6][7]. - The new plant is intended to supply batteries for an upcoming electric pickup truck priced at $30,000 [7].

Core Insights - A potential deal may see Ford acquiring batteries from a Chinese carmaker for its factories located outside the U.S. [1] Company Summary - Ford is exploring the possibility of purchasing batteries from a Chinese manufacturer to support its production facilities outside the United States [1]