FOTON(SH:600166) 经济观察报·2025-10-27 10:24Core Viewpoint - The commercial vehicle industry is experiencing a shift towards new energy vehicles (NEVs), driven by both policy and market forces, with significant competition emerging among leading companies like Foton and Yutong, as well as new entrants like Farizon New Energy [2][3]. Group 1: Market Trends - The penetration rate of NEVs in the commercial vehicle market is expected to exceed 10% in 2024, marking a critical transition from early adoption to mainstream acceptance [2]. - It is projected that NEV sales in the commercial vehicle sector will reach 940,000 units this year, with a penetration rate increase of 11.8 percentage points to 23% [2]. Group 2: Competitive Landscape - Foton and other leading companies are accelerating the development of new technologies and products to address rising operational costs and shrinking profit margins in the light truck market, which holds about 40% of the commercial vehicle market share [2][3]. - Foton's new electric light truck platform, "Qimingxing," was unveiled at a product launch event, emphasizing the need for original development rather than transitional technologies [3]. Group 3: Technological Innovations - The "Qimingxing" platform features innovative technologies, including a central distributed drive architecture with a total efficiency of 95.7%, and an integrated electronic architecture that supports advanced driving capabilities [3]. - Foton aims to launch a pure electric heavy truck platform by 2026, creating a comprehensive product matrix for NEVs in the commercial vehicle sector [3]. Group 4: Industry Performance - In September, China's NEV light truck sales reached 16,600 units, a year-on-year increase of 60%, with total sales from January to September amounting to 122,000 units, up 88% [4]. - Farizon New Energy led the NEV light truck market with sales of 24,933 units, followed closely by Foton with 21,153 units [4].