周一，蔚来(NIO.US)涨逾3%，报5.28美元。消息面上，蔚来汽车12月29日宣布，在正式交付开启后的 第100天，蔚来全新ES8成功实现交付破四万辆。在蔚来全新ES8和乐道L90两大爆款车的带动下，该公 司新能源车销量连创新高。最新数据显示，蔚来11月交付新车36,275台，同比增长76.3%。自今年8月以 来，公司交付量已连续四个月交付超过3万。 ...

消息面上，蔚来汽车今日宣布，在正式交付开启后的第100天蔚来全新ES8成功实现交付破四万辆。 金吾财讯 | 蔚来(NIO)盘前涨超1%，截至发稿，报5.160美元。 消息面上，蔚来汽车今日宣布，在正式交付开启后的第100天蔚来全新ES8成功实现交付破四万辆。 金吾财讯 | 蔚来(NIO)盘前涨超1%，截至发稿，报5.160美元。 ...

Core Viewpoint - NIO has achieved significant milestones in vehicle deliveries and expansion of its battery swapping network, positively impacting its stock performance in both Hong Kong and the US markets [1]. Group 1: Vehicle Deliveries - NIO has delivered its 40,000th vehicle just 11 days after reaching the milestone of 30,000 deliveries for its third-generation ES8 [1]. Group 2: Battery Swapping Network - The company is set to complete its battery swapping route in Yunnan-Tibet, with the Deqin Meili Snow Mountain station scheduled to go live on January 1, covering over 2,700 kilometers and establishing 19 battery swapping stations [1]. Group 3: Collaboration for Battery Recycling - NIO has partnered with Shanghai Electric to repurpose retired batteries for use in energy storage stations, enhancing sustainability efforts [1].

12月20日-21日，联合国开发计划署生物多样性金融倡议（UNDP BIOFIN）在北京举办年度研讨会，蔚来作为车企参加，联合创始人、总裁秦力洪在会上发 表主旨报告并参加圆桌讨论。 蔚来一直致力于与合作伙伴共同探索系列环保材料合集-- Clean+材料，包括可再生、可循环、用户健康保护等更低碳的环境友好材料。例如ET5车型所应用 的Clean+环保织物面料，原材料100%采用PET材料，减少环境污染；在ET5车型应用的Clean+聚合材料融合了天然矿物和植物纤维，与常规材料相比，生产 过程碳排放减少30%以上。 三、蔚来先进制造工厂可持续探索成果 蔚来从2017年就开始在工厂探索以地源热泵的方式保持车间恒温，同时充分利用光伏与绿电。目前蔚来先进制造合肥一工厂和蔚来先进制造新桥二工厂可再 生能源利用率占总耗电量50%以上。蔚来先进制造新桥二工厂在设计阶段就采用海绵城市理念，运用多种技术保障措施，充分开发雨水资源系统，实现可持 续水循环利用，还能防止雨季内涝。 四、供应链管理减碳实践 秦力洪介绍，蔚来以"Blue Sky Coming"为使命，从不认为气候与生物多样性是"后来附加的责任"。蔚来一直在探索实践从自身 ...

Group 1 - NIO's ES8 achieved over 40,000 deliveries in just 100 days, setting a record for vehicles priced above 400,000 yuan [1][2] - The delivery volume increased steadily from 10,000 to 40,000 units, with the time interval for each milestone decreasing, indicating a stable delivery process [1] - In November, the new ES8 delivered 10,677 units, ranking second in overall new energy SUV sales and first in pure electric SUV sales for that month [1] Group 2 - Over 60% of the new ES8 buyers came from traditional luxury fuel vehicle brands, with nearly half being owners of German brands (BBA) [1] - The model also attracted some customers from other new energy brands, reflecting the expanding market appeal of high-end electric vehicles [1]

Investment Rating - The report maintains a positive outlook on the automotive industry, particularly focusing on the mid-to-high-end and used car markets, as well as the impact of new subsidies [2]. Core Insights - The upcoming subsidies are expected to alleviate previous concerns regarding the total market volume for 2026, with a focus on companies like BYD and Geely, which cater primarily to mid-to-low-end demand [2]. - The report highlights the potential for significant performance improvement in parts manufacturers in the first half of 2026 due to subsidy support, recommending companies with strong fundamentals and low valuations [2]. - The report identifies new energy vehicle companies such as XPeng, NIO, and Li Auto, which have advantages in AI and robotics, as potential investment opportunities [2]. - The report notes a positive trend in the used car market and overall dealer profitability, recommending companies like Uxin [2]. - The report emphasizes the importance of state-owned enterprise reforms, particularly for SAIC and Dongfeng, as a key area to watch [2]. Industry Update - According to the China Passenger Car Association, the average daily retail sales of passenger cars in the third week of December reached 77,000 units, a year-on-year decrease of 11% but a month-on-month increase of 9% [2]. - The automotive industry recorded a total transaction value of 582.81 billion yuan for the week, with an industry index increase of 2.74%, outperforming the Shanghai Composite Index [6]. - The report indicates that 172 automotive stocks rose while 94 fell, with the largest gainers being Chaojie Co., Longi Machinery, and Zhejiang Sebao [11]. Market Conditions - The report notes that traditional and new energy raw material price indices have risen recently, with traditional vehicle raw materials increasing by 1.3% week-on-week and 1.0% month-on-month, while new energy vehicle raw materials rose by 5.6% week-on-week and 6.8% month-on-month [62]. - The automotive industry’s price-to-earnings ratio stands at 29.17, ranking 19th among all sectors, indicating a moderate valuation compared to the Shanghai Composite Index's 14.15 [8][10]. Key Events - The report highlights the optimization of toll road policies and the improvement of autonomous driving regulations as significant developments that will enhance the operational efficiency of the transportation system [3][4]. - The report mentions the launch of the first L3 autonomous driving license plate in China, awarded to Changan Automobile, marking a milestone in the industry [24][44].

Core Viewpoint - NIO's stock surged significantly on December 29, with an intraday increase of over 7%, following the delivery of its 40,000th new ES8 vehicle, marking a record for the fastest delivery of over 40,000 units in the domestic market for vehicles priced above 400,000 yuan [1] Group 1: Company Performance - The new ES8 achieved the milestone of 40,000 deliveries in just 100 days since its launch on September 21, showcasing strong market competitiveness for NIO's "dual flagship large three-row SUVs" [1] - NIO's founder and CEO, Li Bin, indicated that both the new ES8 and the L90 will be in a hot sales cycle next year, with plans to launch three additional large vehicles by 2026, resulting in five large vehicles available for sale simultaneously [1] Group 2: Industry Trends - According to the latest data from the China Association of Automobile Manufacturers and the Passenger Car Association, sales of pure electric large three-row SUVs reached 46,209 units in November 2025, representing a 16% month-on-month increase and setting a historical high [1] - Pure electric large three-row SUVs have ranked first in sales among all powertrain types for three consecutive months since surpassing extended-range, fuel, and plug-in hybrid vehicles in September, indicating the arrival of a golden era for this segment [1]

中汽协、乘联会零售量最新数据显示，2025年11月，纯电大三排SUV销量达46,209台，环比上升16%， 创历史新高。继9月首次超过增程、燃油、插混后，纯电大三排SUV的销量已连续三个月排名所有动力 形式榜首，用户选择与市场表现共同表明，纯电大三排SUV的黄金时代正在到来。 12月29日，蔚来港股开盘强势拉升，盘中涨幅一度超过7%。消息面上，全新ES8第四万台新车于今日正 式交付。该车型自9月21日开启交付以来，仅用时100天便达成四万台交付里程碑，创下国内40万元以上 车型最快"破四万"交付纪录。全新ES8持续快速的交付表现，印证了蔚来"双旗舰大三排SUV"战略的市 场竞争力。蔚来创始人、董事长、CEO李斌此前表示，明年全新ES8与乐道L90将同处热销周期，公司 还计划在2026年推出三款全新大车。届时，蔚来旗下将有五款大车同步销售，产品矩阵进一步丰富。 ...

Core Viewpoint - NIO's stock surged over 7% on December 29, following the delivery of its 40,000th all-new ES8 vehicle, marking a significant milestone in the electric vehicle market [1] Company Summary - The all-new ES8 achieved the delivery of 40,000 units in just 100 days since its launch on September 21, setting a record for the fastest delivery of over 400,000 yuan vehicles in China [1] - NIO's founder and CEO, Li Bin, indicated that both the all-new ES8 and the L90 model will be in a hot sales cycle next year, with plans to launch three new large vehicles by 2026, expanding the product lineup to five large vehicles [1] Industry Summary - According to the latest data from the China Association of Automobile Manufacturers and the Passenger Car Association, sales of pure electric large three-row SUVs reached 46,209 units in November 2025, a 16% month-on-month increase, setting a historical high [1] - Pure electric large three-row SUVs have ranked first in sales among all powertrain types for three consecutive months, indicating the emergence of a golden era for this vehicle segment [1]

蔚来汽车(09866.HK)今日宣布，在正式交付开启后的第100天蔚来全新ES8成功实现交付破四万辆。 ...