汽车商业评论·2025-05-05 12:57Core Viewpoint - The automotive industry is witnessing a shift where internal combustion engines (ICE) are not being abandoned but are instead being integrated with electric powertrains, reflecting a dual approach to meet diverse consumer needs and environmental goals [5][7][21]. Group 1: Internal Combustion Engine Developments - The 2025 Shanghai Auto Show highlighted the 4.0T V8 twin-turbo engine from Great Wall Motors, symbolizing a significant advancement in China's internal combustion engine technology [2]. - The global automotive landscape is seeing a resurgence of interest in internal combustion engines, with companies like Toyota and Mazda announcing new multi-fuel compatible engines, indicating a shift back towards ICE technology [3][4]. - Great Wall Motors emphasizes a "pan-internal combustion engine strategy," advocating for a coexistence of ICE and electric systems to cater to local market demands [5][7]. Group 2: Market Trends and Consumer Preferences - Research indicates that 68% of luxury car consumers prefer to hear the roar of an engine, suggesting a sustained demand for internal combustion engines in high-end markets [7]. - In 2024, the global penetration rates for fuel, hybrid, and pure electric vehicles are projected to be 67%, 18%, and 15% respectively, highlighting the continued relevance of ICE in the automotive market [9]. - The sales of fuel vehicles have seen a resurgence, with a notable increase in market share attributed to price changes and new product offerings [15][16]. Group 3: Financial Performance and Strategic Directions - Great Wall Motors reported record revenue and net profit in 2024, with fuel-powered vehicles contributing significantly to its profitability, showcasing the financial viability of maintaining ICE alongside electric vehicles [9][10]. - Changan Automobile is also pursuing a multi-path power strategy, with a focus on hybrid and fuel-efficient technologies, indicating a broader industry trend towards diversified powertrains [12][15]. - The automotive industry is moving towards a diversified market with various powertrain options, including pure electric, plug-in hybrids, and internal combustion engines, which are expected to coexist for the foreseeable future [21].