GAC GROUP(SH:601238) Jing Ji Guan Cha Wang·2025-08-20 11:42Core Viewpoint - GAC Group has officially entered the range-extended hybrid market with the launch of its new technology "Star Source Range Extension," addressing key industry pain points such as high fuel consumption, slow acceleration, and significant noise during low battery operation [2][3] Group 1: Product Launch and Features - The first model equipped with the Star Source Range Extension technology is the Haobo HL Range Extended Version, which offers both five-seat and six-seat configurations, with a price range of 269,800 to 299,800 yuan [2] - The Haobo HL features a 60 kW·h battery from CATL, providing a pure electric range of 350 kilometers and a comprehensive range of 1,369 kilometers, along with 800V/5C ultra-fast charging technology that can add 210 kilometers of range in just 10 minutes [2][3] Group 2: Market Position and Strategy - GAC Group's Haobo HL marks the company's return to the range-extended hybrid market after over a decade, indicating a shift in its new energy development strategy [3] - GAC Group plans to introduce multiple hybrid models starting in 2025, acknowledging that consumer range anxiety will persist due to insufficient charging infrastructure [3][4] Group 3: Competitive Landscape - The range-extended hybrid market has seen rapid growth, benefiting various electric vehicle companies, with GAC Group's Haobo HL positioned against competitors like Li Auto L8 and Aito M8 [4] - The Haobo HL is competitively priced, but it may face challenges in brand appeal compared to newer entrants like Li Auto and Aito [4] Group 4: Technological Advancements - The Haobo HL is equipped with GAC GSD advanced intelligent driving assistance system, featuring laser radar and Orin-X chip, achieving over 99% coverage in all scenarios [5] - The vehicle also includes a new generation Qualcomm Snapdragon 8295P chip, enhancing computing power by four times for a smoother user experience [5] Group 5: Company Performance and Future Outlook - GAC Group is undergoing significant internal reforms, including the "Panyu Action" initiative aimed at enhancing operational efficiency and integrating its brands [5] - Despite the launch of the Haobo HL, GAC Group faces sales pressure, with a total sales volume of 755,300 units in the first half of the year, a year-on-year decline of 12.48% [6]