Core Viewpoint - Toyota is strategically cautious about launching low-priced electric vehicles (EVs) in Europe, focusing instead on a broader range of models and maintaining its sales targets despite market competition [1][2][3]. Group 1: New Electric Vehicle Launches - Toyota plans to introduce 15 new pure electric vehicles in Europe by 2026, with the aim of increasing the share of EVs in new car sales from 5% to 20% [1]. - The company has unveiled three new models for the European market, including the small SUV "C-HR+" with a range of 600 kilometers, the Suzuki-branded "Urban Cruiser," and the new "bZ4X," which is Toyota's first mass-produced electric vehicle [1][2]. Group 2: Market Strategy and Sales Projections - Toyota's electric vehicle sales in Europe are projected to reach 139,000 units in 2024, representing only 1.3% of total new car sales [2]. - Despite the competitive landscape with European and Chinese manufacturers launching low-priced EVs under €20,000, Toyota's European president, Akio Nakata, believes there is no need to rush into the low-cost segment [2][3]. - The company maintains its target of selling 250,000 electric vehicles in Europe by 2026, although Nakata suggests a more cautious approach may be necessary based on current demand [2]. Group 3: Production and Localization - Currently, 77% of the new vehicles sold by Toyota in Europe are produced within the EU, primarily focusing on hybrid vehicles [3]. - Nakata indicated that local production of electric vehicles may be considered if sales reach a certain threshold, but he believes it is not the right time for such a move [3].

撰文 / 钱亚光 设计 / 师 超 2025年，美国电动汽车行业即将迎来一个重要里程碑，那就是将有超10家新的电池工厂投产。 据基准矿产情报公司（Benchmark Mineral Intelligence）的数据，这些设施得到了像 LGES、SK On、三星这样的行业巨头以及丰田、福特、本田、现 代、特斯拉和Stellantis等汽车制造商的支持，它们将使美国的电池制造能力增长至 421.5 GWh，几乎是之前的两倍。 据考克斯汽车公司《凯利蓝皮书（Kelly Blue Book）》的统计，2024年全年，电动汽车销量超过130万辆，同比增长了7.3%，而汽车市场整体同比增长 只有2%多一点。 2024年，电动汽车占据了8.1%的市场份额；2023年，美国所有新车销量的7.3%是全电动的；2022年，美国人购买的新车中有5.8%是全电动的，高于 2021年的3.2%。 通用、福特、现代等几家汽车制造商在过去两年中报告称，电动汽车销量强劲增长，在很大程度上得益于消费者激励措施和有利的融资。随着更多电池 产能即将在美国本土建成，人们对于减少美国对国外关键电动汽车零部件的依赖寄予了厚望。 其次，降低成本。随着电池 ...

撰文 / 周 洲 设计 / 师 超 广汽丰田铂智3X的发布会，就像惊蛰时节的一个春雷。 "广汽丰田居然出电车了？还是智能化？还要打年轻人市场？这是4月1号的发布会吗？""老了老了，还赶上时髦了？"3月6日，铂智3X发布会嘉宾、脱口 秀演员徐志胜似贬实褒的吐槽，让这款车想不被记住都难。 作为丰田在中国的创新试验田，广汽丰田这次杀疯了，像飘然世外的西门吹雪，直接决战紫禁之巅：第一梯队水平的高阶智驾版本起售价14.98万元， 在行业内首次将激光雷达高阶智驾的价格打入14万级。 3月7日，汽车商业评论探访广汽丰田亚市4S店，被告知刚刚到货的两辆12.98万元的520 Pro版铂智3X ，带高阶智驾的一辆已经被预约出去试驾了，另一 辆还未上牌，3月8日可完成上牌，实现预约试驾。根据登记簿上的签名统计，在当天的工作日，进店看新车的就有十几位顾客。 "还有电话预约试驾的，还有交了定金要来提车的。明后天（周六周日）人估计会多。"该店员称。 广汽丰田打响了合资绝地反击迄今为止最响亮的一枪。合资苦电动化智能化久矣，为了打破在中国消费者心中的落后印象，这次智电双管齐下，一次拉 满。 与铂智3X同日上市的东风本田S7，出自专为中国消 ...

Group 1: UnitedHealth Group Inc. (UNH) - UnitedHealth's shares have outperformed the Zacks Medical - HMOs industry over the past year, with a growth of 1% compared to a decline of 3.4% in the industry [4] - The company's revenue growth is supported by a strong market position, new deals, renewed agreements, and expansion of service offerings [4] - Adjusted net earnings per share are anticipated to be in the range of $29.50 to $30 for 2025, backed by a sturdy balance sheet that allows for investments and capital deployment through buybacks and dividends [5] Group 2: SAP SE (SAP) - SAP's shares have outperformed the Zacks Computer - Software industry over the past year, with a growth of 48% compared to 2.6% in the industry [7] - The company is benefiting from growing cloud demand, particularly through its Rise with SAP and Grow with SAP solutions, which are driving cloud revenues [7] - SAP's revised 2025 outlook expects cloud and software sales to be in the range of €33.1 billion to €33.6 billion, an increase from the previous forecast of €29.83 billion [9] Group 3: Toyota Motor Corp. (TM) - Toyota Motor's shares have outperformed the Zacks Automotive - Foreign industry over the past six months, with a growth of 9.3% compared to 9% in the industry [10] - The surge in hybrid adoption is driving sales, supported by strategic initiatives aimed at growth and profitability [10] - Significant investments in human capital and expansion initiatives are expected to weigh on operating profits this fiscal year, alongside rising debt levels [12] Group 4: Better Choice Company Inc. (BTTR) - Better Choice has underperformed the Zacks Retail - Miscellaneous industry over the past year, with a decline of 75% compared to 8.2% in the industry [13] - The company achieved its first profitable quarter in Q3 2024, with adjusted EBITDA exceeding $0.2 million and gross margins reaching 40% [14] - The Asia-Pacific market remains a key driver for growth, supported by trends in pet ownership and demand for premium brands [15]

Core Points - Toyota Motor North America (TMNA) announced its fifth round of grant funding through the Way Forward Fund, focusing on improving care for children affected by traumatic brain injuries (TBI) [1][2] - The recent funding round allocated over $4 million in grants to various organizations, emphasizing the enhancement of healthcare quality in communities with significant needs [4] Group 1: Grant Funding and Objectives - The Way Forward Fund aims to raise awareness, advance research, and improve equitable access to care for communities across the U.S. [2] - The current funding round expands the focus on strengthening community resources and aims to connect experts and organizations for continuous improvement in TBI care [3] Group 2: Commitment to Health Equity - Toyota is committed to sustainable programs with long-term impacts, collaborating with the TBI care community to address funding gaps and support health equity for children and families [2][4] - The initiative is part of Toyota's broader mission as a mobility company, emphasizing the importance of access to care for children and families [4] Group 3: Background Information - TBI is recognized as a major pediatric health condition that is often under-resourced, according to the National Academy of Science, Engineering and Medicine and the CDC [5] - Toyota has been a significant player in North America for nearly 70 years, with a commitment to advancing sustainable mobility through its brands and dealerships [6]

关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 3 月 2 日消息， 日本石油巨头出光兴产（Idemitsu Kosan）正在建设一座大规模硫化锂工厂，该工厂将 为丰田即将推出的全固态电动汽车电池提供原材料。 这标志着丰田多年来一直承诺的全固态电池计划终于 有望实现。 出光兴产执行董事三轮哲司（Tetsuji Mishina）在中国的炼油厂接受路透社采访时表示，丰田将成为该工 厂的第一家客户，未来再逐步拓展至其他客户。自 2023 年以来，丰田与出光兴产一直合作开发用于全固 态电池量产的固体电解质。 -广告- 丰田电动汽车电池路线图 鑫椤资讯 成立于2010年，主要服务于炭素、锂电、电炉钢3大行业，是中国专业 的产业研究和顾问公司。鑫椤资讯以研究为中心，提供数据库、产业前瞻预测、 战略咨询和媒体宣传等服务。 企培服务： 出光兴产于本周四宣布， 将建造一座用于生产全固态电池原材料 硫化锂 的大型工厂 。 全固态电池因其 在续航里程、充电速度和能量密度方面的显著优势，常被称为电动汽车电池技术的"圣杯"。 与传统锂离 子电池不同，全固态电池采用固体电解质，而非液体电解质。 ...

该报告还指出，公共充电设施持续存在的问题阻碍了电动汽车更广泛的普及。从长远来看， J.D.Power预测到2030年电动汽车市场将占零售市场的26%，约为前总统乔·拜登（Joe Biden）50%目 标的半数。然而，国际能源署等机构预测显示，到2030年，电动汽车将占美国汽车销量的50%。 撰 文 / 戈 戈 设 计 / 琚 佳 随着大多数市场中纯电动汽车销量增长放缓，汽车行业正在权衡新的方法以加快电动化的发展势 头。除了插电式混合动力电动汽车（PHEV）之外，增程式电动汽车（EREV）作为一种潜在的解 决方案重新受到关注，以缓解现有燃油车、混合动力车和电动汽车车主对续航里程焦虑和成本方面 的担忧。 2024年，美国轻型车市场同比增长2.2%，达到1590万辆，销量增长的主力来自于混动车型，同比增 长了36.7%。 其中，插混汽车的销量同比增长了35.4万辆，达到144万辆，占当年汽车市场的11%，比上一年增长 了2.4个百分点。 据 J.D. Power发布的最新预测，由于关税和激励措施的不确定性，电动汽车在美国零售市场的份额 将与去年持平，2025年将达到9.1%，120万辆。 美国总统特朗普（Donal ...

Core Insights - Briggs & Stratton's Vanguard brand has announced a primary sponsorship of professional racecar driver Spike Kohlbecker, marking a significant partnership in motorsports [1][2] - Kohlbecker will also act as a Vanguard Brand Ambassador at various events across North America in 2025, showcasing the brand's commitment to motorsports [1][2] Company Overview - Briggs & Stratton, headquartered in Milwaukee, Wisconsin, is the world's largest producer of engines for outdoor power equipment and offers a wide range of power solutions, including lithium-ion batteries and standby generators [3] - The company operates under multiple brands, including Vanguard, Ferris, Simplicity, Snapper, and others, and its products are marketed and serviced in over 100 countries [3] Driver Profile - Spike Kohlbecker, a 22-year-old from St. Louis, Missouri, is a professional racecar driver and a student at Boise State University, who has already achieved notable success in his racing career [4] - He was awarded Vice-Champion of the 2024 Toyota GR Cup North American Championship and is entering his third season in sportscar racing [4] Team Background - RVA Graphics Motorsports, the team Kohlbecker is associated with, has a history in endurance racing and has transitioned to professional sports car racing, competing in the IMSA Michelin Pilot Challenge and Toyota GR Cup North America [5]

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].

Core Viewpoint - Brokerage recommendations, particularly for Toyota Motor Corporation, suggest a strong buy, but reliance solely on these recommendations may not be prudent due to potential biases and misalignment with retail investors' interests [2][4][9]. Brokerage Recommendation Summary - Toyota Motor has an average brokerage recommendation (ABR) of 1.50, indicating a position between Strong Buy and Buy, with 75% of the eight recommendations being Strong Buy [2]. - The ABR is calculated based on recommendations from eight brokerage firms, with six firms rating it as Strong Buy [2]. - Despite the positive ABR, studies indicate that brokerage recommendations often fail to guide investors effectively towards stocks with high price appreciation potential [4][9]. Zacks Rank Comparison - Zacks Rank categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell) and is based on earnings estimate revisions, which are more reliable indicators of near-term stock price movements [7][10]. - The Zacks Rank for Toyota Motor is currently 4 (Sell), reflecting a 0.7% decline in the consensus earnings estimate to $19.76 over the past month, indicating growing pessimism among analysts [12][13]. - The ABR and Zacks Rank are different measures; the ABR is based on brokerage recommendations, while the Zacks Rank is driven by earnings estimate revisions and is more timely [8][11].