Core Viewpoint - The lithium battery industry is experiencing significant changes as foreign car manufacturers accelerate their electrification efforts in response to the rapid growth of China's new energy vehicle market and the increasing market share of domestic brands [1][2][10]. Group 1: Market Dynamics - The market share of domestic brands in China's new energy vehicle sector is projected to reach 54% by January 2025, while mainstream joint venture brands only account for 2% [2]. - Sales of foreign brands in China are declining, with Volkswagen's sales expected to drop by 9.5% in 2024 compared to 2023, and BMW's deliveries down by 13% [2]. - Traditional foreign brands are losing ground in their historically strong markets, with Honda's sales hitting a nearly ten-year low, down 31% year-on-year [2]. Group 2: Technological Advancements - Foreign car manufacturers are increasingly adopting new battery technologies, shifting from conservative lithium-ion battery strategies to more cost-effective lithium iron phosphate batteries and exploring advanced technologies like large cylindrical batteries and solid-state batteries [5][10]. - BMW and Mercedes-Benz are focusing on next-generation battery technologies, with BMW set to mass-produce large cylindrical batteries and Mercedes-Benz testing high-energy density solid-state batteries [1][10]. Group 3: New Business Models - A new business model of "China R&D, global sales" is emerging, with foreign manufacturers establishing China as a key R&D and export hub [6][7]. - Companies like Kia and Ford are planning to leverage their Chinese operations to expand into overseas markets, highlighting the advantages of China's mature and efficient new energy vehicle supply chain [7]. Group 4: Industry Chain Integration - Foreign car manufacturers are deepening their involvement in the lithium battery industry chain, moving beyond strategic investments in battery companies to comprehensive industry chain penetration [8][9]. - Companies like BMW and Toyota are venturing into battery material recycling, while Volkswagen is expanding collaborations in fast-charging networks and battery recycling with local firms [9]. Group 5: Competitive Landscape - The renewed focus on electrification by foreign car manufacturers is expected to intensify competition in the lithium battery industry, leading to technological innovations and industry upgrades [10]. - The entry of stronger traditional car manufacturers into the electrification competition may trigger a new round of market power struggles, complicating the competitive landscape in the lithium battery sector [10].

以下文章来源于中国企业家杂志 ，作者王文彤 中国企业家杂志 . 讲好企业家故事，弘扬企业家精神 从BBA到造车新势力 。 作者 | 王文彤 来源 | 中国企业家杂志 （ID：iceo-com-cn） 结束一天的工作回到家后，张增威还不能换下工作时的西装。2月1 3日晚上，等待他的还 有一小时的"硬仗"——新款宝马X3即将在第二天上市，他需要再直播一小时，为新车上 市预热。直播中，张增威熟练地跟客户互动，让大家猜测新款宝马X3的价格，也会时不 时提醒感兴趣的客户留下信息。 张增威是宝马北区的一名销售冠军，2024年他一个人销售2 5 5台宝马，其中大约有三分 之一的成交是来自直播。 跟张增威类似，奔驰销售王慧也开始学习直播技巧，打算之后开直播获取更多客源。 BBA销售们提高对社交平台的重视、花样百出地寻找客源，源于BBA的市场处境变化。 2 0 24年，BBA在华销量均有下降。据公开数据，BMW及MINI品牌在华合计销量为 7 1 .45万辆，同比下降约1 3%；奔驰在华销量为7 1 . 3 9万辆，同比下降约7%；奥迪在华销 量为64.94万辆汽车，同比下降约11%。 除了通过社交平台拓宽获客渠道，一些BBA ...

倒计时8天 2025起点锂电圆柱电池技术论坛 暨圆柱电池20强排行榜发布会 活动主题： 聚集新 技术 探索新工艺 主办单位： 起点锂电、起点研究院（SPIR） 活动时间： 2025年2月28日 活动地点： 深圳宝安登喜路国际酒店2楼国际厅 活动规模： 500+人 2025年，大圆柱电池进度备受行业关注，其产业化进程来到了关键节点。 2月20日， 宝马集团宣布，宝马大圆柱电池即将上车，新车搭载BMW第六代eDrive电驱系统。 3家供应商——宁德时代/亿纬锂能/远景动力 大圆柱电池具备能量密度高、快充性能好、循环寿命长、热稳定性好、标准化程度高等优势，工艺成熟后更加稳定，产品一致性好。 选择大圆柱电池的宝马等欧美车企，看重的是这种电池的高性能标签和高技术门槛。因为这种同时具备性能优势和技术门槛的电池，才是最契 合高端汽车品牌市场定位的产品。 更高的技术水平和制造难度，在应用下一代技术方面更大的优势，都赋予了大圆柱电池清晰的高端属性。 相比前代的方形电芯，新世代大圆柱电池的能量密度提升超过20%。材料体系上，正极材料中镍含量更高，钴含量减少，同时负极中硅含量增 加。 新世代大圆柱电池系统将同时支持400V和800 ...

编译 / 钱亚光 设计 / 师 超 来源 / www.ionna.com, www.autonews.com, electrek.co 公共充电设施不足、运行状况不良是美国电动汽车车主面临的一个问题，也是美国电动汽车推广的一个主要障碍。据 J.D. Power 的数据，2024 年第三 季度约有五分之一的充电尝试未能成功，主要原因是充电桩离线或损坏。 2月4日，8家全球汽车制造商齐聚美国北卡罗来纳州阿佩克斯的首个 IONNA 充电站和位于北卡罗来纳州达勒姆的新总部及客户体验实验室，共同举行 剪彩仪式，标志着其在美国本土打造一流的充电网络，由设计、工程到建设全部完成，从公开测试阶段过渡到全国充电网络部署阶段。 IONNA 是一家新兴的合资企业，2023 年 7 月首次宣布成立。它相当于北美汽车制造商充电网络联盟，创始成员包括宝马、通用汽车、起亚、本田、现 代、奔驰、Stellantis和丰田。它与欧洲的IONITY类似，那是由七家汽车制造商支持的欧洲充电网络。 汽车制造商们表示，计划利用联邦和州政府在公共充电方面的投资，结合自身公共和私人资金，迅速开发并实施一个覆盖北美的"高功率"电动汽车充电 网络。每个即将建 ...

成就新汽车人 视 野 跨 男 球 战 际 E / 推 O 为避免被罚, 欧洲车企攒了俩碳排放联盟 汽车制造商希望在电动汽车销量未如预期增长的情况下避免 碳罚款，保护自身利益 编译 / 钱 亚 光 设计 / 师 超 来源 / w w w. a u t o n e w s. c o m , e u l e r p o o l . c o m , w w w. w i w o . d e "团结就是力量（"Unity is strength'）"——这一说法对汽车制造商来说已如此亲切，以至于有些制造商决定将其付诸实践。 事实上，他们已开始建立了"碳排放池（CO 2 pooling）"联盟，电动汽车销量较少的公司与电动汽车领先企业"联合"，从竞争对手那里购买碳积分，以降 低其总体排放平均值，共同应对欧盟针对二氧化碳排放的罚款。 1月1日，欧盟大幅降低了汽车二氧化碳排放上限，大多数汽车制造商今年需要电动汽车至少占其总销量的 20%，否则将面临巨额罚款。 2021年开始，欧盟为制造商设定了其在欧盟销售车队的二氧化碳排放量上限，迄今为止这一数值为每辆车每公里115.1克二氧化碳，到2025年将降至93.6 克，到2030年 ...

作者：枫叶 来源：正商参阅（ID：zhengshangcanyue） 以下文章来源于正商参阅 ，作者枫叶 正商参阅 . 原《政商参阅》，做价值的传播者！连续两届获评胡润年度影响力财经自媒体、21世纪经济报道年度传 播力财经自媒体、新浪财经、经济观察报年度影响力财经自媒体、新榜年度社会关注新媒体荣誉奖等。 汽车是全球第一大产业，汽车产业辉煌了几十年，德系、日系车也骄傲了不少年！ 丰田、奔驰、大众、宝马...无不是世界级的品牌，就影响力而言，说是油车的"天花板"也毫不为过。 可谁能料到，百年大变局面前，汽车工业格局变了，德系、日系车巨头集体崩盘。 丰田利润同比下降55%，奔驰利润同比下降54%，大众利润同比下降64%，宝马利润同比下降84%...... 油车的"天花板"，要塌了！ 是的，汽车产业的天平正在向电车倾斜，而电动汽车恰好是中国汽车的骄傲，国内电动汽车品牌百花 齐放，国外品牌除了特斯拉，一个能打的都没有。 在百年未有之大变局新能源汽车助力下，我国汽车行业迅速崛起，汽车产业成功实现"弯道超车"，欧 美气的都想掀桌子了。 不过，大势是不可逆的！ 没有永远繁荣的行业，更没有盛久不衰的品牌，求实创新、顺势而为才是 ...

BMW BMW Group Investor Relations | November 2024 - 1 - THE BMW GROUP – RETHINKING PREMIUM INDIVIDUAL MOBILITY FOR THE NEXT 100 YEARS. INVESTOR RELATIONS PRESENTATION. November 2024. WE MAKE INDIVIDUAL MOBILITY MORE HUMAN, INTELLIGENT AND RESPONSIBLE – CREATING AN INSPIRING FUTURE FOR ALL OF US. IMPACT. OUR PATH TO THE FUTURE. STRATEGY. FINANCIALS. BRANDS PRODUCTS DIGITALIZATION SUSTAINABILITY FOOTPRINT PEOPLE OUR ROBUST RESULTS. BMW Group Investor Relations | November 2024 - 2 - IMPACT I STRATEGY I FINANCIA ...

Financial Data and Key Metrics Changes - The company reported a decline in revenue and profit in Q3, primarily due to a loss of sales for about two weeks, which impacted the overall performance [5] - The expected auto margin for Q4 is projected to be between 5% and 7%, with a year-to-date target of 6% to 7% [6][14] - The strategic target for EBIT margin remains at 8% to 10% for the future [14] Business Line Data and Key Metrics Changes - The warranty provision remains at a similar level compared to the end of 2023, with ongoing accruals and payouts affecting the financials [20] - The company is focusing on efficiency and has a base ratio of 4% in its planning [23] Market Data and Key Metrics Changes - In the U.S. market, the company sold over 290,000 vehicles, marking a growth of nearly 7,000 units, with a significant increase of over 20% in October alone [10] - In Europe, the company sold 620,000 cars, reflecting a growth of almost 50% [23] Company Strategy and Development Direction - The company is committed to investing €1.7 billion in its U.S. manufacturing plant to electrify operations and enhance competitiveness [17] - A new fully electric plant has been opened in Hungary, which will strengthen cost competitiveness [24] - The company is adapting its powertrain mix in China, with 85% of volumes sold produced locally, and plans to increase this share with new electric models [28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the Chinese market but expressed confidence in the growth of BEVs, with a 15% market share [14] - The company is optimistic about its product portfolio and market conditions in the U.S., indicating a strong setup for future growth [10] Other Important Information - The company is facing pressures from warranty costs, with ongoing measures to reduce these expenses [20] - The impact of geopolitical factors on trade and tariffs was discussed, with management emphasizing the protective nature of their local production [17][41] Q&A Session Summary Question: Underlying profitability and margin expectations - Management confirmed that the underlying profitability level is expected to be in the range of 5% to 7% for Q4, with strategic targets aiming for 8% to 10% in the future [14] Question: North American manufacturing flexibility - The company highlighted its strong manufacturing footprint in the U.S. and the ability to produce a variety of models, providing a buffer against potential tariffs [9] Question: Warranty provisions and cost-cutting measures - Management indicated that warranty provisions are stable, with ongoing efforts to manage and reduce warranty costs [20] Question: Impact of trade tensions and vehicle import/export numbers - The company noted that 65% of U.S. sales are produced locally, which mitigates risks from trade tensions [17] Question: Strategy for the Chinese market - Management emphasized the flexibility in powertrain offerings and the growth of BEVs in China, despite overall market challenges [29] Question: Financial results and future expectations - The decline in Q3 was attributed to fair value derivative evaluations, with expectations for a reversal in Q4 as interest rates rise [37] Question: Capital returns and free cash flow - The company plans to maintain a high payout ratio of free cash flow, with ongoing share buyback programs [40]

Core Insights - The 2024 Paris Auto Show emphasizes the electric vehicle (EV) revolution, showcasing over 50 premieres from major automakers and highlighting competition between European and Chinese manufacturers [1][12] European Automakers - European brands are focusing on countering the influence of Chinese automakers, who are entering the market with affordable and technologically advanced models [2] - Renault unveils the Renault 4 E-Tech, an all-electric crossover priced under €35,000, alongside other models like the Alpine A390 Beta and the all-electric Twingo E-Tech [3] - Citroën introduces the second-generation C5 Aircross with various drivetrain options, including battery-electric and hybrid, while also showcasing updated models like the C4 and Ami [4] - Volkswagen presents the Tayron SUV, emphasizing hybrid options, and Audi showcases the Q6 E-tron Sportback and A6 E-tron electric sedan [5] - BMW highlights affordability and performance with the introduction of the Vision Neue Klasse X, a concept SUV with a range of up to 800 kilometers [6] Chinese Automakers - Chinese automakers are increasing their presence in Europe amid trade tensions, with the EU imposing import tariffs of up to 45% on Chinese-made EVs [7] - Nine Chinese brands, including BYD, XPeng, and GAC, are showcasing their models, with BYD presenting the Sea Lion 7, a full-electric SUV [8] - GAC introduces the second-generation Aion V, an electric crossover with a range of 750 kilometers, while Leapmotor debuts the B10 compact electric crossover [9] U.S. Automakers - General Motors' Cadillac brand showcases the Lyriq, a full-electric SUV aimed at the premium market in Europe [10] - Ford revives the Capri nameplate with an all-electric coupe-style crossover built on Volkswagen's MEB architecture, promising a range of up to 627 kilometers [11] Industry Outlook - The Paris Auto Show occurs at a critical time for the auto industry, with European automakers facing pressure to meet consumer demand for affordable EVs while competing with Chinese brands [12]

Financial Data and Key Metrics Changes - The average transaction price for BMW's vehicles in Q1 2024 was €53,000, while the full-year average for 2023 was approximately €51,000, indicating stability in pricing year-to-date [4][5] - The company expects pricing across its portfolio in 2024 to remain on par with the previous year's levels [4] Business Line Data and Key Metrics Changes - The company reported a normalization in used car pricing, which peaked in Q1 2023 and has been gradually declining since then [5] - In China, BMW's market share in the segment priced above RMB 500,000 (approximately €65,000) is 5%, with a year-on-year volume increase of 3% for models X57 and X7 despite a 5% decline in the overall market [6] Market Data and Key Metrics Changes - In the U.S., BMW's days of supply at dealerships is 31 days, compared to the industry average of 55 days, indicating less pricing pressure on BMW [8] - The company noted a positive trend in transaction prices in China, with a stabilization observed in July [6] Company Strategy and Development Direction - BMW is focused on reducing CO2 emissions and plans to introduce a new vehicle class (Neue Klasse) in 2025 to meet future targets [12][13] - The company aims for a 15% reduction in average fleet emissions by 2025 and a 55% reduction by 2030 [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining stable pricing and volume growth, particularly in Europe and China, despite market challenges [14][15] - The company is adjusting production strategies in response to market conditions, particularly in China, to stabilize transaction prices [44] Other Important Information - BMW is working on its Corporate Sustainability Reporting Directive (CSRD) and expects administrative costs but does not foresee significant financial impacts from this work [31][32] Q&A Session Summary Question: Pricing developments in the second half - Management indicated that pricing across the portfolio is expected to remain stable, with some normalization in used car prices impacting revenue [4][20] Question: Volume, mix, and pricing expectations for 2024 - Management expects a neutral impact from volume, mix, and pricing, supported by strong order intake and product availability [14][15] Question: Challenges in energy transition - Management emphasized the importance of aligning product offerings with market demand and infrastructure, noting a significant increase in BEV sales [26][27] Question: CO2 emission targets and combustion engine strategy - Management clarified that they are not pushing back on CO2 reduction but advocating for a technology-neutral approach to achieve emissions targets [29][30] Question: Financial impacts of CSRD - Management confirmed that all relevant issues identified in the CSRD will be reflected in the financial statements, ensuring transparency for investors [31][32] Question: Profit before tax and automotive margin expectations - Management indicated a slight contraction in profit before tax is expected, with a focus on maintaining margins within the lower end of the target range [36][37] Question: Production versus retail sales ratio - Management acknowledged overproduction but expressed confidence in adjusting production schedules to align with market demand [39][42] Question: Volume trends in China - Management noted a potential improvement in volume trends in China, supported by the full availability of the 5 Series and MINI models [44]