今年以来，包括通用汽车、梅赛德斯-奔驰、Stellantis、马自达、斯巴鲁、丰田等多家跨国车企相继暂 缓全面电动化战略，转而继续投资内燃机技术研发。不少中国自主车企也同样采用了这种"双路径"的发 展策略，如长城汽车（601633）在2025上海车展上发布了"泛内燃机战略"，一方面布局Hi4智能四驱电 混技术，另一方面推出4.0T V8发动机，持续深耕传统动力领域。 在新能源车渗透率持续攀升的趋势下，燃油车市场却迎来阶段性回暖。 根据中国汽车工业协会的最新数据，在告别4月同、环比双下滑后，5月燃油乘用车市场出现回暖。数据 显示，今年5月，传统燃料（包括汽柴油、天然气、甲醇等）乘用车国内销量为85.4万辆，环比增长 2.2%。与此同时，新能源乘用车5月销量为109.5万辆，占乘用车国内销量比例为54.7%。这一市场表 现，实际上反映了中国汽车消费市场的多元化和区域差异性。 根据J.D.Power调研显示，西北地区燃油车保有量占比高达68%，而混动车型在三四线城市的销量增速连 续18个月超纯电车型20个百分点，这种区域差异反映出能源转型的梯度性特征。另据中国汽车流通协会 调研显示，不同消费群体对燃油车仍保持较高偏 ...

Core Viewpoint - The development of diversified fuel technologies for internal combustion engines (ICE) is recognized as a key pathway for the automotive industry's low-carbon transition, with a focus on carbon-neutral fuels becoming a new focal point for industry development [1][4]. Group 1: Breakthroughs and Innovations - The successful ignition of E-fuel in a domestic trial marks a significant milestone in China's application of zero-carbon fuel technology in the automotive sector [3]. - The collaboration between industry, academia, and research institutions is essential for driving innovation in low-carbon technologies for ICE, with various alternative fuel technologies such as hydrogen, ammonia, methanol, and E-fuel being explored [4][5]. Group 2: Industry Collaboration and Development - The establishment of the New Energy Internal Combustion Engine Alliance in 2023 aims to enhance collaboration among automotive companies and industry stakeholders, focusing on potential assessments and development trends in new energy ICE [6]. - The alliance plans to create a comprehensive evaluation capability and industry influence by 2025, promoting the commercialization of new energy ICE and addressing challenges in certification, policy guidance, and application [6]. Group 3: Future Directions and Goals - The integration of E-fuel with existing ICE technologies is expected to provide new avenues for achieving zero-carbon transitions in the automotive industry, emphasizing the importance of a collaborative innovation ecosystem [5][6]. - The ongoing technological advancements in ICE, alongside the application of low-carbon and green fuels, are anticipated to inject new momentum into the global automotive industry, aiding in the acceleration of carbon neutrality goals in the transportation sector [8].

①马斯克与特朗普冲突升级特斯拉股价暴跌 SpaceX"龙"飞船退役 因马斯克与特朗普冲突加剧，特斯拉股价隔夜暴跌14.26%，创2020年以来最大单日跌幅，市值蒸发超 1500亿美元。马斯克在X上批评国会支出法案，摩根大通预计，若法案通过，特斯拉年利润将减少32亿 美元。特朗普反击称马斯克"失去耐性"，撤销其电动汽车"强制令"，并威胁终止数十亿美元的政府补贴 和合同。马斯克随后宣布，因特朗普威胁取消政府合同，SpaceX将立即开始退役"龙"飞船，而当前美国 载人航天活动高度依赖该飞船。今年以来，特斯拉股价已下跌29.5%，周四成交量是过去100日均值的 两倍，公司估值面临重新定价。 评论员徐广语：特斯拉股价隔夜暴跌14.26%，市值蒸发超1500亿美元，主要原因有三点：1）马斯克与 特朗普因税改法案冲突激化，特朗普威胁终止政府补贴及合同；2）欧洲市场销量连续五个月下滑（德 国跌36.2%、英国跌45%），中国销量同比降15%且连跌八月；3）一季度净利润仅4.09亿美元，叠加"木 头姐"减持近5万股动摇市场信心，多重利空致估值泡沫承压。 海顺投顾黄俊：特斯拉隔夜股价大跌，其关键因素在于马斯克与特朗普之间的"对战 ...

Core Insights - The fifth International Forum on Automotive Power Systems was held in Shanghai, focusing on the diverse development paths of global automotive power systems [1] - Li Kaiguo, the supervisor of the China Automotive Engineering Society, presented a keynote report on "Development Path of Automotive Low-Carbon Technology," revealing that the "Energy-saving and New Energy Vehicle Technology Roadmap 3.0" is expected to be officially released in September to October this year [1][5] Industry Development - The Chinese automotive industry is experiencing rapid growth, with production and sales expected to exceed 31 million vehicles in 2024, entering a period of stable growth [3] - The natural gas heavy truck segment is projected to grow significantly, reaching 178,000 units in 2024, aiding the recovery of the sluggish commercial vehicle sector [3] - The energy-saving and carbon reduction levels in the automotive industry are improving, with the average fuel consumption of new fuel vehicles decreasing by 17% compared to 2019 [3] Carbon Reduction Goals - The "Automotive Industry Green and Low-Carbon Development Roadmap 1.0" was released in 2023, setting clear carbon reduction targets for passenger and commercial vehicles by 2040 [4] - By 2040, average carbon emissions for passenger vehicles are to be reduced by 60%, while commercial vehicles aim for a 41% reduction [4] - The roadmap emphasizes the need for a combination of internal combustion engines and electrification to achieve energy consumption reductions [4][5] Technological Pathways - The "Technology Roadmap 3.0" aims to address key technological developments necessary for achieving energy-saving and carbon reduction goals, emphasizing hybridization, low-carbonization, and intelligence [5] - Hybrid vehicles are identified as a crucial technology path for energy savings, with sales expected to increase significantly in 2023-2024 [5] - The roadmap also highlights the importance of improving engine thermal efficiency and expanding the efficient operating range of engines [5][6] Future Energy Sources - The development of low-carbon and zero-carbon internal combustion engines is essential, with a focus on low-carbon fuels to mitigate emissions [6] - By 2040, low-carbon and zero-carbon engines are expected to achieve a maximum thermal efficiency of 52% and a power density of 35 kW/L [6] Vehicle Efficiency Requirements - The "Technology Roadmap 3.0" introduces energy-saving and technical requirements for various vehicle classes, including A0, A, B, C, and D levels [7] - Emphasis is placed on lightweight materials, low resistance, low friction, and intelligent energy management systems to enhance vehicle efficiency [7] - The integration of internal combustion engines and electric motors is seen as a necessary evolution, with hybrid technology being a key focus for passenger vehicles [7]

Core Viewpoint - The 2025 China Rally of the International Rally (referred to as "Huan Ta Rally") officially commenced in Aksu, Xinjiang, marking the return of Great Wall Motors after a 10-year hiatus with a strong lineup of ten factory production vehicles across three brands and three power types [1][4]. Group 1: Company Participation and Strategy - Great Wall Motors previously won the overall championship at the Huan Ta Rally in 2015 and is now participating with its brands Haval, Tank, and Great Wall Pickup, competing in gasoline, diesel, and new energy categories [4]. - The company emphasizes its strategic confidence in product strength and technical foundation, showcasing its commitment to comprehensive research and development across various power systems and market needs [4]. - The "Pan Internal Combustion Engine" strategy was introduced at the 2025 Shanghai Auto Show, aiming to integrate internal combustion engines with electric drive systems to better meet local demands [4]. Group 2: Event Details and Challenges - The 2025 Huan Ta Rally will last for 13 days, covering approximately 4,500 kilometers, with special stages totaling 2,350 kilometers, featuring diverse terrains such as deserts (65%), Gobi (15%), and gravel (20%) [9]. - This rally is recognized as "Asia's most challenging off-road rally," presenting comprehensive challenges to vehicle systems including chassis, power output, thermal management, suspension tuning, and electronic stability [9]. - For Great Wall Motors, the rally serves as a "system-level capability training camp," allowing the collection of extensive real-time data to inform the tuning and iteration of mass-produced models, facilitating a two-way interaction between "event site" and "engineering system" [9].

长城汽车与环塔赛事的渊源可追溯至2015年。彼时，长城车队以全场总冠军的成绩创下中国越野品牌在该赛事的历史性突破，其搭载的2.0T柴油发动机 及非承载式车身技术成为行业标杆。十年后，长城汽车以全新战略布局回归赛场：旗下三大品牌协同作战，涵盖传统燃油与新能源动力技术，首次实现"油 电双驱"技术体系在极限赛事中的实战验证。这一战略选择与长城汽车2025年上海车展提出的"泛内燃机"理念一脉相承——通过内燃机与电驱系统的深度融 合，满足全球用户多场景需求，而环塔赛事则成为检验这一技术路径的"天然试验场"。 5月20日，中国环塔国际拉力赛在新疆阿克苏正式拉开帷幕。作为亚洲规模最大、难度最高的越野拉力赛事之一，本届赛事历时13天，全程4500公里， 其中特殊赛段长达2350公里，赛道覆盖沙漠（占比65%）、戈壁（15%）及砂石（20%）等极限地貌，对参赛车辆的动力性能、底盘稳定性、热管理系统及 电子辅助技术提出全方位挑战。长城汽车以哈弗、坦克、长城炮三大品牌联合阵容出征，携十辆原厂量产赛车、二十名车手与领航员组成国内车企最大规模 参赛团队，全面参与汽油、柴油及新能源T2原厂量产组别赛事，以"油电双驱"技术体系向亚洲顶级越 ...

会上，中国工程院院士、兰州大学校长杨勇平以"推进新一代煤电高质量升级加快建设新型电力系统"为主题，天津理工大学党委副书记、校长练继建以"海 上风光水能源融合开发技术进展"为主题，清华大学教授马凡华以"掺氢（富氢）内燃机及管道输氢关键技术研究"为主题，浙江大学求是特聘教授、中国电 机工程学会会士郭创新以"虚拟电厂的发展观察-未来市场形态展望与关键技术探索"为主题，华中科技大学教授王贤华以"燃煤机组大比例掺烧生物质面临的 技术难点分析"为主题作专家讲座。 会议同期举行了中国华电——华北电力大学"高效清洁智能发电联合研究院""国家火力发电工程技术研究中心华电分中心""新能源发电国家工程研究中心华 电分中心"揭牌仪式，以及华电科工与兰州大学合作框架协议签订仪式。还同步发布华电科工"数字驱动智领未来"人工智能创新创意大赛成果，内容涵盖了 公司90%的业务领域，涉及了自然语言处理、计算机视觉、生成式AI、多模态AI等当前主流的人工智能技术。 新华财经北京5月18日电（记者沈寅飞）为科学研判能源电力发展新趋势，5月18日，中国华电科工集团有限公司（以下简称华电科工）在京举办以"科技领 航产业创新数智赋能绿色能源"为主题的2 ...

Core Viewpoint - The CEO of Volkswagen brand emphasizes the need to achieve profit parity between electric vehicles and internal combustion engine cars by the end of this century [1] Group 1 - The statement highlights the long-term goal of the company to ensure that electric vehicles become as profitable as traditional vehicles [1] - This goal reflects the broader industry trend towards electrification and sustainability in the automotive sector [1] - Achieving this profit parity is seen as crucial for the future competitiveness of the company in the evolving market landscape [1]

"逆时代潮流"的长城汽车，尽管凭借一系列"硬核"SUV在越野等小众圈层内获得好评，但公司却不得不 面对经营业绩快速下行、多个主力车型销量下滑、市场竞争力下降的困境。 近日，长城汽车发布今年一季度财报，净利润同比大幅减少45%。同期，旗下五大主力品牌有三个销量 下滑，欧拉销量更是直接"腰斩"。在其他品牌全面转向纯电和增程的时候，长城汽车仍然固守传统业 务，公司总裁穆峰近期更是明确表示"打死也不做增程"。 长城汽车高管李瑞峰曾在社交平台直言，对于哈弗H6的销量问题，魏建军痛批团队"完全没有用户思 维，用户关注什么全然不知"。 曾经红极一时的"方盒子"越野车坦克300，月销量如今也从顶峰时过万到如今徘徊在3000多辆。不过即 便如此，坦克300在今年3月"姗姗来迟"的迭代中，并未对外观进行任何改动，对于市场质疑，坦克品牌 执行副总经理谷玉坤表示"优秀的设计多一刀都是多余"，而并未提及为什么优秀的设计"卖不动了"。 面对新能源转型的大趋势，"固守"内燃机的魏建军将何去何从？ 三主力品牌一季度齐下滑 近日，长城汽车披露，今年一季度公司整体销量同比下滑6.73%，旗下五大主力品牌有三个销量低于去 年同期。其中，承接纯电转 ...

下半年坦克、欧拉品牌将有多款车型面世。 在2025年上海车展前夕，长城汽车（601633）总裁穆峰的一句"长城打死不做增程"，让长城汽车再次立于风口浪尖。 公开信息显示，2024年中国新能源渗透率已超40%，突破1200万辆，其中增程车型销量为118万辆，成为增速最快的技术路线。 自去年开始，极氪、小鹏等车企开始加入增程路线，希望分得增程市场不断扩容后的蛋糕。 但长城却并没有驶入增程赛道，穆峰认为："既然我们已经有了最好的新能源架构，为什么还要给用户提供退步的增程技 术？"增程车的畅销得益于解决用户的续航焦虑。对此，长城的解法是油电同进。 在本次上海车展上，长城汽车正式发布了"泛内燃机战略"，长城认为，内燃机与电驱动并不是非此即彼的对手，而是技术迭代 中的共生体。"长城汽车不做非油即电的割裂选择，而是基于全球用户的需求和场景，让内燃机和电驱系统搭档，让每一款车型 更适配本地需求。"穆峰表示。 除了产品策略，长城也格外重视海外市场。上海车展期间，长城汽车发布了ONE GWM战略，剑指成为"世界的GWM"目标。 长城推进"一个长城"出海已久。早在2022年末，长城汽车就公布了"ONE GWM"全球行动纲领，以期合 ...