2024年华为汽车分析报告：从技术供应商到生态使能者的转型之路（精简版）

Investment Rating - The report does not explicitly state an investment rating for the industry or company Core Insights - Huawei has transitioned from a component supplier to a comprehensive solution provider in the smart automotive sector, adhering to a "no car manufacturing" strategy while deeply collaborating with automotive companies, creating a differentiated competitive landscape compared to BYD's vertical integration and three-electric technology advantages [3][4] - The competition between Huawei and traditional automakers in the field of intelligence will be a focal point in the future market [3] - Huawei's automotive business operates through three parallel models: component supply, HI intelligent driving, and HarmonyOS intelligent driving, with the HI model showing the most growth potential due to its non-threatening nature to automakers' dominance [3][7] Summary by Sections Huawei's Automotive Business Development - Huawei's automotive journey began with in-car communication (2013-2015), evolved through collaborations with car manufacturers (2016-2018), and has now reached the stage of providing comprehensive solutions since 2019 [3][4] Production Capacity and Market Performance - Huawei's smart selection vehicle business has established an annual production capacity of 1.7 million units, achieving rapid growth in the high-end new energy market, with standout models like the Zhijie R7 and Xiangjie S9 [4] - The production layout includes various factories with specific annual capacities, such as 700,000 units at the Seres Chongqing Super Factory and 150,000 units at the Liangjiang Factory [4] Revenue Projections - By 2030, Huawei's automotive business is expected to generate revenues of 63.51 billion yuan from HarmonyOS intelligent driving and 24.27 billion yuan from smart automotive solutions, with intelligent driving and cockpit technologies being the main growth drivers [5][16] - The projected sales volume for HarmonyOS intelligent driving is expected to increase from 78,000 units to 1.56 million units, primarily driven by the Wanjie series [5][16] Business Models and Solutions - Huawei's smart automotive business provides comprehensive support through five major solutions, including hardware and software supply, and operates through a sales network comprising direct brand outlets and partnerships with automotive companies [7][8] - The smart selection model allows Huawei to deeply participate in the automotive manufacturing process, achieving both "making good cars" and "selling good cars" [7] Case Study: Seres - The collaboration between Seres and Huawei has evolved through stages of exploration, brand accumulation, market downturns, and product breakthroughs, with the product line expanding from the single SF5 to multiple models like Wanjie M5/M7/M9, achieving peak monthly sales of over 40,000 units [11] - The smart selection model has significantly contributed to Seres' success by providing a transparent pricing system and a user-centered marketing approach, which has resonated well with younger consumers [11]