行业深度报告：复盘丰田全球化历程：我国新能源车如何走向全球？

Investment Rating - The report rates the industry as "Outperforming the Market" for the first time [5] Core Insights - Globalization is a necessary path for the automotive industry, with China's mature new energy vehicle (NEV) sector poised for significant export opportunities, particularly in mature markets like Europe [1][2] - China's NEV exports are expected to mirror the successful elements of Toyota's export strategy, including tailored vehicle designs, efficient production, and strong local operations [2][4] - The potential market space for a single Chinese car manufacturer overseas is estimated at approximately 4.37 million units under neutral assumptions, with significant opportunities in Europe, Australia, and Southeast Asia [3][4] Summary by Sections Introduction - The report discusses the historical context of Japan's automotive industry and its transition to global markets, drawing parallels with China's current NEV industry, which is also supported by government policies [17][30] Toyota's Export Success and Comparison with Chinese Manufacturers - Toyota's successful entry into the U.S. market involved designing vehicles that met local consumer needs and regulatory requirements, a strategy that Chinese manufacturers are now adopting [47] - Key success factors for Toyota included just-in-time production, strong supply chain management, and local market operations, which are being mirrored by Chinese NEV companies [2][47] Potential Market Space for Chinese Car Manufacturers - The report estimates that Chinese car manufacturers could capture approximately 437,000 units in difficult markets like the U.S., and between 880,000 to 2.24 million units in more accessible markets like Europe and Australia [3][4] Factors for Success in Globalization - Companies that excel in product development, local operations, supply chain management, and have a first-mover advantage are likely to succeed in the global market [4][5]