Workflow
乘用车行业点评报告:问界M8/新M9开启预售,华为系新车周期强势来临
KAIYUAN SECURITIES·2025-03-06 06:23

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The automotive industry is expected to see significant advancements in intelligent driving technology, particularly with Huawei's plans to launch L3 architecture by 2025, which will enhance the driving experience [6] - The introduction of new models such as the AITO M8 and M9, which feature advanced intelligent driving capabilities and improved energy efficiency, indicates a strong market potential for these vehicles [4][6] - Huawei's collaboration with various automotive manufacturers, including BYD and SAIC, is expected to strengthen the smart transformation of traditional automakers, expanding its influence in the market [5][6] Summary by Sections Industry Trends - The automotive sector is projected to outperform the overall market, driven by technological advancements and new model launches [1][6] - The demand for intelligent driving solutions is increasing, with Huawei's L3 level driving technology expected to play a crucial role in this transition [6] New Model Launches - The AITO M8 is set to be priced between 368,000 to 458,000 yuan, while the M9 will start at 478,000 yuan, both featuring advanced intelligent driving configurations [4] - The new M9 model will have an engine power increase from 112 kW to 118 kW and a reduction in WLTC fuel consumption from 0.88 L/100 km to 0.62 L/100 km, showcasing improved energy efficiency [4] Strategic Collaborations - Huawei is expanding its partnerships with automotive manufacturers, moving from second-tier companies to leading brands like BYD and SAIC, enhancing its market presence [5] - The introduction of the "HI" and "Smart Selection" models by Huawei aims to empower car manufacturers in their smart transformation efforts [5]