燃油筑基，新能源赋能 北京越野以全场景布局定义国民越野新标杆

Core Insights - Beijing Off-road has launched the new BJ40 Explorer model, priced between 149,900 to 159,900 yuan, marking a significant step in its product strategy for the hard-core off-road segment [1] - The company has achieved a structural transformation in the Chinese automotive market, focusing on both fuel and new energy vehicles, leading to a robust performance in 2025 [3][4] - In 2025, Beijing Off-road expanded its product matrix with multiple new models, including the BJ40 series, covering a price range from 100,000 to 300,000 yuan, catering to various user needs [4] Product Development - The BJ30 Traveler, launched in September 2025, filled a gap in the market for a seven-seat light off-road vehicle priced at 100,000 yuan, achieving over 16,000 orders within 24 hours [6] - The BJ40 Extended model, launched in April 2025, features a 40.3 kWh battery with a pure electric range of 152 km and a combined range of 1200 km, showcasing advanced off-road capabilities [7] - The BJ60 Extended Executive version, launched in November 2025, includes unique features like altitude-adjustable oxygen supply and satellite communication, setting new standards in luxury off-road vehicles [9] Market Performance - In 2025, Beijing Off-road delivered over 200,000 vehicles, a 38% increase year-on-year, with the "Box Family" series achieving a 79% growth [12] - The BJ40 series has maintained its position as the best-selling hard-core off-road vehicle for 11 consecutive months, with over 300,000 users [12] - The company has successfully integrated fuel and extended-range models, enhancing its market presence and meeting diverse consumer demands [14] Brand Strategy - Beijing Off-road emphasizes user engagement and cultural empowerment, transitioning from a product provider to a user companion, enhancing brand loyalty [15] - The company has organized outdoor activities to promote its brand message of an all-scenario off-road lifestyle, reinforcing its cultural significance [17] - The BJ40 Extended model has received multiple quality awards, reflecting the company's commitment to safety and customer satisfaction [19] Future Outlook - In 2026, Beijing Off-road plans to launch six new models, aiming for a continuous product rollout and expanding into international markets [21]