中金：全球汽车格局再重构，中国电动智能供应链将充分受益

Core Viewpoint - The global automotive industry is undergoing a structural transformation, with significant shifts expected in the near future, particularly in the electric and intelligent vehicle sectors [1] Group 1: Market Dynamics - By 2025, China's automotive exports will have expanded significantly, leading to an acceleration in overseas market penetration [1] - Global consumers have established recognition of electric and intelligent technologies, prompting European, American, and Japanese automakers to accelerate product launches [1] - The penetration rate of new energy vehicles (NEVs) in non-Chinese markets is expected to shift from a drag to an acceleration phase, driven by both demand and supply [1] Group 2: Future Projections - The electric and intelligent transformation, which began in 2012, has led to a solid consumer understanding, setting the stage for increased demand [1] - As Chinese products accelerate their export and overseas expansion, the NEV penetration rate is projected to rise rapidly, benefiting from a low base in non-Chinese markets [1] - Major foreign automakers in the US, Japan, and Europe are anticipated to experience a significant increase in NEV model launches before 2027, creating a dual boost opportunity for the global electric and intelligent supply chain [1]