FAW Jiefang(SZ:000800) 乘联分会·2025-12-22 08:37Policy and Regulations - Chongqing plans to build 60 hydrogen stations by 2035, aiming to promote 4,000 hydrogen fuel cell vehicles, with a daily hydrogen supply capacity increasing from 7,500 kg to over 70,000 kg [9][11] - Qinghai province aims to establish a charging infrastructure with a ratio of charging piles to new energy vehicles of no less than 1:3 by the end of 2027 [12][14] Market Insights - The market for new energy traction vehicles is experiencing explosive growth, with a compound annual growth rate of 116.2% from 2021 to 2024, and sales in the first 11 months of 2025 reaching 140,000 units, 2.5 times the total sales of 2024 [16][18] - The penetration rate of new energy traction vehicles increased from less than 1% in 2021 to 34.8% by November 2025, marking a more than 30-fold increase over five years [16][18] Company Monitoring - FAW Jiefang aims for a sales target of 320,000 units in 2026, a 14% increase from 2025, with a focus on new energy vehicles, which saw a 176.7% year-on-year growth in 2025 [27][28] - Dongfeng Commercial Vehicle targets sales of 176,000 units in 2026, emphasizing the development of a modular global platform [31][32] - Foton Motor is set to launch the Ouma Ke Z pure electric light truck soon [28]