新京报贝壳财经讯（记者白昊天）2025广州国际车展上，蔚来乐道品牌发布乐道L90黑骑士特别版，新 车提供大六座、大七座两种座椅布局，限量发售999台，整车购买价30.68万元。新车将于2025年12月初 开始向用户交付。 根据乐道方面介绍，乐道共享蔚来能源覆盖全国的换电网络，广东省已实现了换电县县通。目前有超过 450座换电站布局在广东省122个区县。 （文章来源：新京报） 乐道L90黑骑士特别版。 新京报贝壳财经记者白昊天摄 乐道L90黑骑士特别版搭载四驱动力，百公里加速4.7s。车辆采用一体化曜黑套件，标配21英寸多辐曜 黑轮圈，车内还提供了展翼电动踏板与二排右侧尊享零重力座椅。 ...

高开高走后全天维持在高位盘整，截至收盘三大指数集体收涨，其中道指上涨1.08%，纳指上涨 0.88%，标指上涨0.98%。盘面上，银行、科技分化走强，中概股终结八连跌，黄金探底回升。 银行股持续拉升，其中阿莱恩斯西部银行大涨4.19%，齐昂银行上涨3.33%，美国合众银行上涨2.77%， 美国银行、花旗集团等股涨幅均在1%上方；摩根大通、美国斯大林逆势小跌。 科技股分化走强，其中谷歌大众3.53%，英特尔深圳2.62%，高通上涨2.32%，苹果、亚马逊等个涨幅均 在1%上方；特斯拉、微软、奈飞等股逆势收跌，且跌幅均在1%上方。 中概股低开高走，日线终结八连跌，截至收盘中国金龙上涨1.23%。其中蔚来大涨3.33%，理想汽车、 哔哩哔哩、贝壳、腾讯音乐等股涨幅均在2%上方；爱奇艺逆势大跌2.74%，阿里巴巴、网易等股小幅收 跌。 COMEX黄金高开低走后探底回升，截至收盘上涨0.07%报4062.8美元/盎司，盘中最低报4018.1美元/盎 司，最高报4101美元/盎司。 理财就是一场修行，有人修有人度，结果就是看谁踩准了点，把握住了机会。 ...

Core Points - NIO's brand, Ladao, launched the L90 Black Knight Special Edition at the 2025 Guangzhou International Auto Show, with a limited release of 999 units priced at 306,800 yuan, set for delivery in early December 2025 [1][4] - The L90 Black Knight Special Edition features all-wheel drive with a 0-100 km/h acceleration time of 4.7 seconds, and includes a unified black kit, standard 21-inch multi-spoke black wheels, and luxury zero-gravity seats in the second row [2][4] - Ladao leverages NIO's extensive battery swap network, which has achieved county-wide coverage in Guangdong Province, with over 450 battery swap stations across 122 districts and counties [3]

Core Insights - GAC Group and Huawei QianKun have officially launched a new high-end smart electric vehicle brand, "Qijing," marking a significant collaboration in the smart automotive sector aimed at the young high-end market [2][3] - The brand's mission is to create vehicles that integrate aesthetic design, driving experience, and smart technology, with a commitment to uncompromising product quality [2][3] Product Development - Qijing plans to release two new models by 2026, with the first model, described as the "most beautiful Chinese shooting brake," having completed extreme environment testing and design finalization, set for market launch in June 2026 [2][4] - The brand aims to establish a strong market presence by recruiting dealers nationwide and implementing a "1 (user center) + N (experience center)" network layout, targeting 30 cities as initial strategic markets [5] Strategic Collaboration - The partnership between GAC and Huawei is characterized by deep integration, with Huawei providing comprehensive support through its Integrated Product Development (IPD) and Integrated Product Marketing System (IPMS) frameworks [3][7] - Both teams have developed an efficient collaborative mechanism, overcoming initial differences to focus on user needs and market demands, resulting in a synergistic effect that enhances product development [4][6] Market Positioning - The launch of Qijing comes amid intense competition in the Chinese electric vehicle market, with existing players like Tesla and NIO, as well as traditional luxury brands entering the electric space [7] - Qijing aims to fill a market gap for a vehicle that meets the demands for stylish design, comprehensive safety, top-notch intelligence, and excellent handling, targeting the "Dream Car" concept for young consumers [6][7] Long-term Outlook - Analysts express cautious optimism regarding Qijing's potential to establish a differentiated advantage among young high-end consumers if the first product meets expectations in design, intelligence, and quality [5][7] - The collaboration is seen as a critical move for GAC to navigate market challenges and drive transformation, leveraging Huawei's technological capabilities to enhance product competitiveness [6][7]

Core Insights - The 2025 Huai Award ceremony took place on November 21, marking 20 years of recognizing excellence in the Chinese automotive industry [1][3] - The award has evolved from focusing solely on Chinese brands to including all passenger vehicles produced, sold, and used in China, enhancing the diversity of participants [3][63] Group 1: Event Overview - The Huai Award originated 20 years ago, initiated by the China Council for the Promotion of International Trade Automotive Industry Committee, and has seen over a thousand models participate [3] - The event atmosphere was celebratory, with industry leaders gathering to reflect on the past and discuss future developments [1][3] Group 2: Award Categories and Winners - The award categories included various segments such as hybrid, electric, and SUV models, with notable winners like the Aito M8 for Best Hybrid and the Avita 06 Ultra for Best Electric Vehicle [5][7] - Other significant awards included the Market Breakthrough Award for models like the Jietu X70L and the GAC Aion 2026, showcasing innovation and market impact [10][12][14] Group 3: Industry Evolution - The Huai Award's growth reflects the transformation of the Chinese automotive industry from "market for technology" to "technology wins market," indicating a shift towards innovation and quality [63]

Core Insights - The absence of key figures like Lei Jun at the 2025 Guangzhou Auto Show marks a shift in focus towards new players like Huawei's QianKun, highlighting a "new entrants, old exits" trend in the automotive industry [4][6] - The proportion of new energy vehicles (NEVs) at the show increased significantly to 57.97% from 43.72% in the previous edition, indicating a growing market presence for NEVs [4][11] Group 1: Industry Trends - The 2025 Guangzhou Auto Show showcased 1,085 vehicles, with 629 being NEVs, reflecting a strong consumer interest in electric vehicles [11] - A notable trend is the increasing emphasis on large, personalized vehicle models, with several companies launching flagship MPVs and SUVs during the event [13][14] - The competition between pure electric and range-extended technologies remains a hot topic, with various companies showcasing their respective advancements in these areas [15][16] Group 2: Company Collaborations - Huawei's QianKun brand is gaining traction as a key player, collaborating with multiple automakers like Avita and Dongfeng to enhance their vehicle offerings [8][9] - Avita and Huawei announced a strategic partnership to upgrade their collaboration model, expanding their joint efforts across various domains including product development and marketing [8] - The partnership between GAC Group and Huawei's QianKun aims to launch a high-end smart NEV brand named "Qijing," targeting the 350,000 yuan market segment [9] Group 3: Technological Innovations - AI technology is becoming a central theme at the auto show, with companies like Seres showcasing their advancements in smart electric vehicle platforms [16][19] - Xiaopeng Motors introduced several AI-driven applications, including a new generation of autonomous driving technology, set to enter mass production by 2026 [19][20] - The event highlighted the importance of self-developed capabilities in AI and autonomous driving among new automotive players, indicating a shift towards integrated technological solutions [20]

Core Insights - NIO's chairman Li Bin emphasized the effectiveness of organizational changes over the past year, highlighting a more cost-conscious approach in operations [1] - The competition in the smart electric vehicle market is entering its final stage, with a clear competitive landscape expected in five years and stability in ten years [1] - Li Bin reiterated the goal for NIO to achieve profitability in Q4, stating that as a Chinese company, it cannot afford to wait as long as Amazon or Tesla for profitability [4] Company Performance - NIO delivered a record 40,397 vehicles in October 2025, marking a year-on-year increase of 92.6%, with cumulative deliveries reaching 913,182 vehicles by October 31, 2025 [4] - The October deliveries included 17,143 vehicles from the NIO brand, 17,342 from the Ladao brand, and 5,912 from the Firefly brand [4] - Li Bin noted that the sales and gross margins for the year have been strong, indicating a positive outlook for the fourth quarter despite no new vehicle launches or NIO Day events [4]

Core Insights - Firefly has showcased its right-hand drive model at the 2025 Guangzhou International Auto Show, with 30,000 units already delivered in China [1] - The right-hand drive version is set to enter the Singapore and Thailand markets, with partnerships established with local groups for market expansion [1] - Firefly is also expanding into 17 countries, including several in Europe and Southeast Asia [1] - A new subscription service called "Firefly 7-Day Car Subscription" has been launched in collaboration with Sesame Credit and SUPEREV to enhance user experience [1] - NIO has officially launched two special editions of the ET9 model, priced from 818,000 yuan, with a battery-as-a-service (BaaS) option starting at 710,000 yuan [3] Market Expansion - Firefly is entering the Singapore market in partnership with Wearnes Automotive and the Thailand market with Thonburi Group [1] - The company plans to expand into a total of 17 markets, including countries like the Netherlands, Norway, Belgium, Denmark, Greece, Austria, and Portugal [1] Product Offerings - The right-hand drive Firefly model is part of the company's strategy to cater to international markets [1] - The newly launched NIO ET9 special editions are positioned at a premium price point, indicating a focus on high-end consumers [3] - The BaaS model for the ET9 offers a flexible purchasing option, appealing to a broader customer base [3]

Core Viewpoint - The chairman of NIO, Li Bin, highlighted the company's shift towards cost-saving measures, indicating a significant change in operational mindset compared to previous practices [1] Group 1: Company Insights - Li Bin revealed that NIO has undergone organizational changes over the past year, leading to improved operational efficiency and a more cost-conscious approach [1] - To save 30,000 yuan, Li Bin opted to change his flight schedule, emphasizing that such frugality was unimaginable in NIO's past [1] - The company is actively participating in discussions about the future of the electric vehicle market, including topics like the reduction of purchase tax for new energy vehicles and the development of battery swap networks [1] Group 2: Industry Outlook - Li Bin stated that the competition in the smart electric vehicle sector has entered a decisive phase, with a clear competitive landscape expected to emerge over the next five years and stabilize in ten years [1] - He reiterated the forecast that by 2030, the penetration rate of new energy vehicles in China will exceed 90% [1]

Core Insights - NIO launched two new color themes for the ET9 Horizon Special Edition during the 2025 Guangzhou Auto Show, marking the brand's ninth anniversary, with prices starting at 818,000 yuan and 710,000 yuan for the BaaS battery rental option [2] Group 1: Product Launch - The ET9 Horizon Special Edition features two new color themes: "Dawn" and "Golden Mountain," inspired by natural landscapes [3] - The "Dawn" theme combines silver and black, inspired by Iceland's black sand beach at dawn, while the "Golden Mountain" theme uses starry red and dawn gold to replicate the sunrise over Meili Snow Mountain [3] Group 2: Charging Infrastructure - As of November 21, 2025, NIO has established a total of 8,380 charging and battery swap stations across China, including 3,576 battery swap stations and 4,804 charging stations, with 27,444 charging piles [2] - In Guangdong Province, NIO has built 451 battery swap stations, 505 charging stations, and 3,622 charging piles, achieving county-wide battery swap coverage [2] Group 3: Market Performance - The new ES8 model has seen strong demand, delivering 10,000 units within 41 days of its launch in September [2] - NIO's founder and CEO, Li Bin, stated that 2025 marks a turning point where user experience benefits from pure electric technology will outweigh the inconveniences of charging [2]