Zhi Tong Cai Jing·2025-09-24 04:00Group 1 - The automotive market experienced high activity last week due to a wave of model updates from manufacturers [1] - NIO's updated ES8 received strong order volumes, totaling 66,000 units, which is an increase of 834% compared to the previous week [1] - BYD's total orders reached 82,000 units, reflecting an 8% decrease from the prior week, but the company is expected to see continued growth due to model updates and cost efficiency improvements [1] Group 2 - The introduction of the BaaS battery subscription plan has lowered the price of the ES8 to between RMB 298,800 and 338,800, compared to RMB 406,800 to 446,800 without BaaS [1] - BYD is anticipated to upgrade its models by 2026 to compete with other manufacturers that have stronger cycles, particularly in enhancing the battery range of its plug-in hybrid vehicles [1] - The vertical integration model of BYD is expected to provide greater flexibility in an increasingly competitive pricing environment, with positive growth prospects in overseas and high-end markets [2]