每经记者｜孙磊 每经实习编辑｜余婷婷 5月31日，2025（第三届）未来汽车先行者大会拉开帷幕。在下午的"未来图景峰会"论坛中，华为常务董事、终端BG董事长余承东与鸿蒙智行的"五界"（问 界、智界、享界、尊界、尚界）负责人共同出席，而这也是鸿蒙智行"五界"首次同聚一堂。 "我们第一次聚首是在三亚，其实那次去的时候，我们还没想到会增加第五'界'。"余承东表示，"目前鸿蒙智行已经有'五界'。我觉得可能也就到此为止了， 因为我们的能力做两三个'界'都已经很不容易了，做五个'界'是非常非常难的。" 图片来源：直播截图 "我们跟华为的合作也比较早，一直在（向华为）学习。从去年开始，我们学习的态度更好，学到了很多把事情做深做透的道理。"北汽新能源党委书记、董 事长张国富这样介绍北汽新能源与华为的合作。 "低端竞争是一条死胡同" 江汽集团控股公司党委书记、董事长、总经理项兴初则透露，江汽与华为合作属于"一见钟情"。"双方在战略上有非常多的共识，我们觉得应该迈向高质量 发展。当然，华为公司的文化也非常吸引我们。"项兴初表示。 上海汽车集团股份有限公司总裁、党委副书记贾健旭认为："上汽的精密制造，以及鸿蒙智行的严苛的质量体系， ...

Core Viewpoint - Rivian Automotive's stock has surged by approximately 40% recently, and there are strong reasons for investors to consider buying shares before the upcoming earnings call, expected around August 5 [1] Group 1: Growth Potential - Rivian has faced sluggish sales growth in recent years, primarily due to market saturation with its two existing models, the R1T and R1S, which have high price points nearing $100,000 [2] - The company is set to launch three new models (R2, R3, and R3X) next year, all priced under $50,000, which is expected to significantly expand its addressable market and unlock millions of potential buyers [3] - Analysts project a modest 5% sales growth in 2025, increasing to 41% in 2026, with potential for explosive revenue growth starting in 2027 as production scales [3] Group 2: Profitability Improvement - Rivian achieved a positive gross margin by the end of last year, with further improvements noted in the most recent quarter, aligning its profitability levels with those of Tesla [4] - Achieving scale is crucial for profitability in the electric vehicle sector, as higher sales volumes allow for fixed costs to be spread over more units, potentially leading to significant operating leverage if Rivian's new models perform well [5] Group 3: Valuation Considerations - Rivian's current stock valuation is considered attractive, trading at just 3.3 times sales, compared to Tesla at 12.5 times and Lucid Group at 8 times, despite Rivian's slower sales growth in recent years [7][8] - The anticipated launch of new models and subsequent sales growth and profitability improvements are expected to lead to a higher market valuation for Rivian in the future [8]

通用汽车在这一转型中表现得尤为积极，致力于通过采用替代化学成分来降低其电动汽车的成本。 据《韩 国经济日报》周二报道，通用汽车的两大主要电池供应商 ——LG 新能源和三星 SDI，计划将磷酸铁锂电 池的生产引入美国。 如果这两家公司能够迅速行动，它们的工厂有望成为美国首批磷酸铁锂电池工厂，甚至可能赶在福特与宁 德时代合作的密歇根州磷酸铁锂电池工厂之前投产。后者的工厂原本计划于 2026 年开始生产，但由于出 现了一些延误和政治阻力，目前投产时间尚不明确。 三星 SDI 与通用汽车在印第安纳州新卡莱尔的 35 亿美元合资企业已经计划于 2027 年开始生产棱柱形 电池单元。 而三星 SDI 部分原本为生产镍锰钴（NMC）电池而设计的设施进行改造，以生产磷酸铁锂 （LFP）电池，目前该公司已在为这一转变采购原材料和设备。 -广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤储能 资讯~ 5 月 29 日消息，美国电动汽车电池生产长期以来一直以镍钴锰（NMC）化学成分为主导。然而，如今汽 车制造商正在改变这一局面，纷纷转向成本更低的磷酸铁锂（LFP）电池，以降低成本并使电动汽车对 ...

Investment Rating - The industry rating is optimistic, expecting overall returns to exceed the CSI 300 Index by more than 5% in the next 6 months [6] Core Insights - Xiaomi Group reported a record high revenue of RMB 111.3 billion for Q1 2025, a year-on-year increase of 47.4%, with adjusted net profit reaching RMB 10.7 billion, up 64.5% year-on-year [1] - Xiaomi's electric vehicle, the SU7, has surpassed the Model 3 in sales, with 75,869 units delivered in Q1 2025, making it the best-selling vehicle in its price range [1] - The new luxury SUV, YU7, is set to challenge the Model Y, featuring three versions with a maximum power of 690PS and advanced charging capabilities [2][3] Summary by Sections Financial Performance - Total revenue for Xiaomi in Q1 2025 was RMB 111.3 billion, with a net profit of RMB 10.7 billion, marking significant growth compared to the previous year [1] Product Development - The SU7 series has achieved cumulative deliveries of over 258,000 units, with a strong monthly delivery rate exceeding 20,000 units for six consecutive months [1] - The YU7 features a maximum range of 835 km and can accelerate from 0-100 km/h in 3.23 seconds, showcasing its competitive performance [2] Technological Advancements - The YU7 is equipped with the NVIDIA DRIVE AGX Thor™ platform, providing 700 TOPS of computing power, enhancing its autonomous driving capabilities [3]

不久前，数万哪吒车主遭遇尴尬一幕：手机App突然断网，车辆变成＂铁疙瘩＂。有人被反锁车外，在地下车库干等两小时；有人发现自己的续航数据卡 在三天前；有用户所有门都打不开，最后用APP打开了后备箱。 如果说临时断网尚可忍受，那么当车企资金链断裂时，车主面临的将是系统性服务崩塌。 一位满4.3万公里的哪吒GT580车主，在没有任何磕碰的情况下动力电池系统突然故障，导致无法挂挡。找4S店工作人员，对方说"三电质保作废"，这可 把车主整绝望了，难道23万买了一个"电动骨灰盒"吗？而对方的解释是，"电池厂家现在不愿意给电池走质保，因为哪吒欠了他们1亿多的款没有付。" 据不完全统计，近五年陷入经营困境的威马、高合、爱驰、极越、哪吒等车企，已累计产生50万"孤儿车"。这些车主不仅要面对维修配件断供、4S店关停 的困境，更要承受车辆随时断网的风险。 | | | | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 是否新能源 · | 品牌名称 To | ...

市场消息：美国司法部要求法官维持特朗普政府冻结50亿美元电动汽车充电资金的政策。 ...

理想汽车于北京时间 5 月 29 日晚间港股盘后、美股盘前发布了 2024 年第一季度财报。一句话，增程车压力山大，只能豪赌纯电了。具体来看： ① 一季度卖车表现还可以，卖车收入超出预期 5 亿左右： 一季度卖车收入 247 亿，高出市场预期 241 亿，主要是卖车单价下滑幅度低于预期。 背后是本季度车型结构其实是在改善的（低价的 L6 占比是在下滑，高价 Mega/L9/L8 车型占比回升），对冲了一季度对于老款车型降价的不利影响。 ② 卖车毛利率表现也还可以，但其实低于大行预期： 一季度卖车毛利率 19.8%, 虽然看上去是和上季度持平，但其实上季度计提了 Mega 的合约损失，上季实际卖 车毛利率在 20.7%。 所以本季度实际卖车毛利率环比下滑 1 个百分点左右，虽然高出理想之前指引的 19%，但海豚君看到的大行预期在 20% 左右，所以可能降本力度相对一般。 ③ 一季度整体表现还可以，基本都符合预期，问题其实出在二季度指引上 ：二季度销量指引和收入指引双双 miss 市场预期，尤其是销量指引，其实一定程度隐含 L 系列订单量不仅低于市场预期，也低于公司原本预期，而公司一季度账上的存货和存货周转天数都 ...

金融界5月29日消息，上证指数高开高走，中证智能电动汽车指数 (智能电车，H11052)上涨1.1%，报 3174.52点，成交额387.68亿元。 数据统计显示，中证智能电动汽车指数近一个月上涨1.96%，近三个月下跌9.23%，年至今上涨0.42%。 据了解，中证智能电动汽车指数选取主营业务涉及智能电动汽车动力系统、感知系统、决策系统、执行 系统、通讯系统、整车生产以及汽车后市场的上市公司证券作为指数样本，以反映智能电动汽车产业上 市公司证券的整体表现。该指数以2014年12月31日为基日，以1000.0点为基点。 从中证智能电动汽车指数持仓的市场板块来看，深圳证券交易所占比72.38%、上海证券交易所占比 26.88%、北京证券交易所占比0.73%。 从中证智能电动汽车指数持仓样本的行业来看，可选消费占比36.47%、工业占比34.83%、信息技术占 比21.45%、原材料占比6.55%、通信服务占比0.71%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日 ...

Market Performance - US stock market indices closed lower, with the Dow Jones down 0.58%, Nasdaq down 0.51%, and S&P 500 down 0.56% [4] - International oil prices strengthened, with WTI crude oil rising 1.59% to $61.86 per barrel and Brent crude oil increasing 1.18% to $64.32 per barrel [5] - European stock indices also fell, with Germany's DAX down 0.78%, France's CAC40 down 0.49%, and the UK's FTSE 100 down 0.59% [6] Federal Reserve Meeting Minutes - The Federal Reserve decided to maintain the federal funds rate target range at 4.25%-4.5% during the FOMC meeting on May 6-7 [4] - The committee noted increased uncertainty in the economic outlook, with rising risks of unemployment and inflation [4] Corporate Developments - Huawei transferred the "Shangjie" trademark to SAIC Motor, marking a deepening collaboration in the smart electric vehicle market [15] - BYD responded to rumors regarding financial issues of a dealer group, clarifying that the information was untrue and that they are providing support to the dealer [16] - Tencent released and open-sourced a voice digital human model, enhancing video content creation capabilities [17] Investment and Economic Policies - The Chinese Ministry of Finance announced plans to issue 68 billion RMB in government bonds in Hong Kong [8] - The Chinese government has achieved full visa exemption coverage for Gulf Cooperation Council countries [7] - The Ministry of Commerce is strengthening communication on rare earth export controls, potentially indicating a relaxation of restrictions for European semiconductor companies [9] New Product Launches - DJI is set to enter the robotic vacuum market with a new product expected to launch in June [20] - XPeng Motors launched the MONA M03 Max, with prices starting at 129,800 RMB, featuring advanced smart driving capabilities [21] - Honor announced its entry into the robotics sector, showcasing a high-speed robot at a recent event [22]