Group 1 - Changan Automobile's Vice President, Deng Chenghao, stated that purchasing range-extended vehicles with a range of 400-500 kilometers is less advantageous than buying pure electric vehicles, indicating that super long-range range-extended vehicles may not be meaningful in the future [2] - Deng believes that range-extending technology is not a transitional or outdated technology but serves specific scenarios for consumers with long-distance needs. However, he argues that as consumer perceptions mature, the significance of super long-range range-extended vehicles diminishes [2] - Several automakers have launched long-range pure electric range-extended models, such as the Zhiji LS6 with over 450 kilometers, the Xpeng X9 at 452 kilometers, and the Leapmotor D19 at 500 kilometers. Deng criticized the trend of blindly increasing pure electric range, suggesting that if range-extended vehicles can achieve 400-500 kilometers, consumers would be better off purchasing pure electric vehicles without the need for an engine [2] Group 2 - Deep Blue Automotive, which Deng leads, faces challenges as its range-extended models currently have a maximum range of only 300 kilometers, falling short of the industry standard of 400 kilometers [3] - In terms of supply chain integration, Deep Blue Automotive's battery cell costs remain high compared to competitors like Geely, BYD, and Leapmotor, making it difficult to keep pace with the industry's large battery layouts. This results in a disadvantage in cost control [3] - As of October, Deep Blue Automotive has achieved cumulative sales of 206,350 units, which is only 41.27% of its global sales target of 500,000 units set for 2025, indicating significant pressure on sales [3]

智己LS9拥有豪华舒适的座舱，搭载B&O豪华音响系统、全球首搭的4D机械按摩座椅和行业首创的智 控地暖系统。同时，智己LS9还全系标配520线超视域激光雷达和英伟达Thor芯片，在辅助驾驶上有出 色的体验。 新一代智己LS6权益价为19.79万元起，定位800伏大电池大五座超级增程SUV。首搭"恒星超级增程"， 66度超级增程版尤为受到用户青睐。配备宁德时代66度超级骁遥MAX电池，拥有450公里纯电续航里程 和800伏超快充；同时，攻克了传统增程车型亏电状态下动力衰减与噪音大的行业痛点，行业最低百公 里油电综合能耗2.07升，实现电车的体验，电车的成本。 转自：北京日报客户端 11月21日，不久前完成上市的"上汽旗舰大六座"智己LS9和新一代智己LS6亮相广州车展。智己LS9在车 展正式开启全国用户交付。此外，为了应对新一代智己LS6热销带来的交付压力，智己官方表示，将联 合宁德时代为66度超级骁遥MAX电池新增产线，在车展期间下定并锁单，均可保障"年内提车"。 智己LS9上市权益价为32.28万元起，其出色的驾控体验得到了用户广泛认可，新车采用"灵蜥数字底盘 3.0"，解决了传统大六座SUV笨重不灵活的痛 ...

Core Viewpoint - The ongoing shift in the Chinese electric vehicle market is characterized by a transition from pure electric vehicles to extended-range vehicles, with companies like NIO and Li Auto adapting their strategies accordingly [2][3]. Group 1: Company Strategies - NIO's Senior Vice President, Shen Fei, emphasized the company's commitment to a "pure electric + battery swap" strategy, rejecting the need for extended-range technology [2]. - Li Bin, CEO of NIO, noted that the user experience from pure electric technology has surpassed the inconveniences of charging, leading to a surge in sales of large three-row pure electric SUVs [3][4]. - Shen Fei highlighted that the battery swap system offers significant advantages in safety and user experience, with 90% of users relying on battery swaps and home charging [5]. Group 2: Market Trends - The Chinese electric vehicle market is witnessing a "technical route adjustment," with companies like Xpeng launching extended-range models while others, like Li Auto, are increasingly focusing on pure electric vehicles [2]. - The number of charging stations in China has reached between 6 million and 10 million, indicating a robust infrastructure supporting the pure electric vehicle market [4]. - NIO is targeting profitability this quarter, with a focus on expanding its market presence in lower-tier cities through its extensive battery swap network [7].

智己LS9与新一代智己LS6联袂登场，展现出智己汽车深厚的技术实力储备，也为其销量再上台阶打下 了坚实基础。 11月21日，智己汽车携刚刚上市的"上汽旗舰大六座"智己LS9与持续热销的新一代智己LS6亮相2025广 州国际车展。两款超级增程SUV展现出尖端的科技实力和极具竞争力的价格优势，各自成为30万元级旗 舰大六座与20万元级智能大五座SUV市场中极受关注的明星产品。 作为上汽集团（600104）尖端技术的集大成者，智己LS9在驾控、性能、智能、豪华四大维度上，做到 了"每一面皆旗舰"。同时，所有科技配置统统都标配，做到了全系皆Ultra。结合32.28万元起的上市权 益价，让其成为30万元大六座旗舰级SUV中的有力竞争者。 智己LS9要做"最好开的大六座SUV"，其搭载了"灵蜥数字底盘3.0"，解决了传统大六座SUV"笨重不灵 活"、"侧倾像开船"的痛点。双向24°智慧四轮转向，协同150mm超大行程双腔闭式智慧空悬等旗舰级底 盘硬件，让一辆大六座SUV比Polo还灵活，比五座驾控标杆操控更好。同时，全系标配的灵蜥矢量四驱 系统，赋予智己LS9硬核越野实力，给用户随时征服远方的底气。 其中，66度超级增 ...

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]

11月20日晚，小鹏汽车正式发布首款"超级增程"车型——小鹏X9超级增程，标志着品牌正式迈入纯电 与增程"双能"并行的新阶段。 此次上市的小鹏X9超级增程共推出Max和Ultra两款车型，售价分别为30.98万元和32.98万元，同时同步 公布多重上市权益与购车礼遇。 围绕家庭用户最关心的续航、安全、静谧性、空间与舒适性，小鹏X9超级增程在五大维度上做出针对 性突破，试图全面化解家庭场景中的续航焦虑、安全顾虑与空间适配难题。 在补能效率方面，新车搭载63.3kWh超快充磷酸铁锂增程电池，支持5C+800V超充，10分钟可补能 313km。同时，其可使用92号汽油，适配西藏、青海等高海拔和低标号油品地区，为长途自驾用户提供 更多使用弹性。 电池安全方面，小鹏X9超级增程选用的磷酸铁锂电池包提前满足2026年7月1日将实施的电池新国标， 单电芯热失控可实现24小时电池包"不起火、不爆炸"。在当晚的交流会上，小鹏汽车相关负责人对记者 表示，从规模化应用与安全性考量，磷酸铁锂方案更适配当前的产品规划。 在空间体验上，小鹏X9超级增程首发行业领先的三排电动三折叠方案，三排座椅可支持四六分折叠并 纯平收纳，可灵活切换4/ ...

专题：2025广州国际车展 责任编辑：杨赐 新浪科技讯 11月21日上午消息，2025广州车展开幕，在乐道汽车发布会上，乐道汽车总裁沈斐发表演 讲。 他表示，乐道纯电交付超11万台，并且实现了量价齐升。他透露，乐道的成交均价已经超过了凯迪拉 克，非常接近奥迪。 有人问，很多友商在做超级增程，乐道会不会做？沈斐回应称，纯电+换电根本不需要做增程，电池变 大就是超级增程了吗？他反问道，增程的尽头是纯电，而纯电的优选是换电。 ...

Core Insights - The core message highlights the successful delivery of over 110,000 pure electric vehicles by LeDao Auto, indicating a significant growth in both volume and pricing [3]. Group 1: Company Performance - LeDao Auto has achieved a delivery of over 110,000 pure electric vehicles, demonstrating a strong market presence [3]. - The average transaction price of LeDao vehicles has surpassed that of Cadillac and is very close to Audi, indicating a competitive positioning in the premium segment [3]. Group 2: Industry Trends - In response to inquiries about competitors focusing on super range-extended vehicles, LeDao's president emphasized that the combination of pure electric and battery swapping eliminates the need for range extension, suggesting a shift in industry focus towards pure electric solutions [3].

相较纯电版车型，新车不仅换装了增程系统，还对造型、车身长度及内饰舒适配置进行了差异化提升，起售价则比纯电版车型（35.98万元）降低5万元。 对此，何小鹏表示："增程车销量下滑是事实，但这可能是短期波动。另一种可能是，整个市场都在期待'超级增程'。不仅是我们，其他已推出增程产品的 公司也可能推出下一代产品。市场就像波浪，会有起有伏。" 11月20日晚间，小鹏X9鲲鹏超级增程版车型上市。新车推出Max和Ultra两个版本，售价分别为30.98万元起和32.98万元起。 图片来源：每经记者孙磊摄 据悉，这是小鹏汽车推出的首款增程车型。"企业如果要走向全球市场，还需要新的补能方式。同时，一辆车的续航想要达到1000公里以上，需要通过纯电 之外的动力形式来实现。"小鹏汽车董事长何小鹏告诉《每日经济新闻》记者，"从中国的混动汽车在不同城市、不同区域的分布地图来看，小鹏在很多区域 的销售是比较欠缺的，因为我们没有（推出）适合当地使用的车。所以，我相信无论是在中国还是在全球（市场），超级增程都会有非常大的使用场景。" 值得一提的是，与当下配备大容量电池和小容量油箱的主流增程车型有明显区别，小鹏X9鲲鹏超级增程版车型采用了" ...

Group 1 - Net purchases of stocks include Alibaba-W at 32.97 billion, Xpeng Motors-W at 11.52 billion, Xiaomi Group-W at 8.53 billion, and others, while net sales include China National Offshore Oil at 3.65 billion and Tencent Holdings at 1.91 billion [1] - Southbound funds have continuously net bought Xiaomi for 15 days, totaling 106.6072 billion HKD, and have net bought Alibaba for 4 days, totaling 90 billion HKD [1] Group 2 - Alibaba-W saw a slight decline of 0.2% with a net purchase of 16.78 billion and a transaction amount of 58.63 billion [5] - Tencent Holdings experienced a decline of 2.0% with a net sale of 8.31 billion and a transaction amount of 39.12 billion [5] - Xiaomi Group-W had a decline of 2.8% with a net purchase of 6.33 billion and a transaction amount of 30.75 billion [5] - Xpeng Motors-W declined by 10.5% with a net purchase of 8.29 billion and a transaction amount of 20.32 billion [5] - China National Offshore Oil declined by 3.1% with a net sale of 0.82 billion and a transaction amount of 17.08 billion [5] Group 3 - Alibaba's AI application, Qianwen App, launched on the 17th, quickly rose to the fourth position in the Apple App Store free apps ranking, surpassing DeepSeek [6] - Xpeng Motors plans to launch 7 new vehicles with "super range extender" configurations in 2026, significantly expanding its total addressable market [6] - Xiaomi Group reported a total revenue of 113.1 billion for Q3 2025, a year-on-year increase of 22.3%, exceeding expectations [6] - Semiconductor company SMIC received a cautious outlook from JPMorgan, with a target price raised to 57 HKD [6] Group 4 - Daiwa maintained a "underperform" rating for Ganfeng Lithium, raising the target price from 23 HKD to 53 HKD, expecting the company to record net profits from 2025 to 2027 after a net loss in 2024 [7]