观车 · 论势 || 丰田加码会影响混动“出海”格局吗？

Group 1 - The global hybrid market is experiencing significant activity, with Toyota planning to increase the production of hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) to approximately 6.7 million units by 2028, a 30% increase from its 2026 plan, accounting for nearly 60% of the company's total production [2] - Geely announced plans to launch 4 to 5 new hybrid models equipped with its i-HEV intelligent dual-engine technology by 2026, indicating a strong commitment to hybrid technology [2] - In China, the hybrid market is primarily dominated by plug-in hybrids, with sales of pure electric vehicles projected to reach 10.62 million units in 2025, a 37.6% year-on-year increase, while plug-in hybrid sales are expected to reach 5.86 million units, a 14% increase [2] Group 2 - The growth rates of HEVs and PHEVs are significant across global automotive markets, with Indonesia's HEV sales projected to reach 65,900 units in 2025, a 10% increase, and PHEV sales expected to soar by 3,775% to 5,134 units [3] - In the EU, hybrid vehicle sales (including HEVs and PHEVs) are expected to reach 4.56 million units in 2025, a 12% increase, with a market share of 34.5%, surpassing gasoline vehicles for the first time [3] Group 3 - The slow development of charging infrastructure is a key issue affecting the rapid adoption of pure electric vehicles in various markets, with Thailand having over 5,000 public charging stations and Malaysia planning to establish 10,000 by the end of 2025 [4] - In contrast, China has built the world's largest electric vehicle charging network, surpassing 20 million charging facilities by the end of 2025, with public charging facilities reaching 4.717 million, a 31.9% increase [4] Group 4 - The EU has proposed to relax the ban on fuel vehicles, reducing the 100% zero-emission target for new cars by 2035 to 90%, allowing certain plug-in hybrid vehicles to continue sales beyond 2035, creating new opportunities for hybrid models [5] - Chinese brands have recognized the importance of hybrid technology, with a market share of over 13% in the European hybrid vehicle sector by November 2025, and BYD's Seal U topping the list of best-selling plug-in hybrids in Europe [5] Group 5 - Hybrid vehicles are seen as a key to China's automotive industry entering the global stage, necessitating a dual approach of advancing pure electric technology while adapting hybrid products for global markets [6]