Core Insights - Leap Motor aims to become a world-class automaker with an annual sales target of 4 million vehicles, setting 2026 as the year to break the 1 million sales mark [12] Group 1: Company Performance - In the first 11 months of 2025, Leap Motor delivered 536,100 vehicles, a 113.42% increase from 251,200 vehicles in the same period last year, and is expected to exceed 600,000 vehicles for the entire year [2][7] - For the first three quarters of 2025, Leap Motor reported a net profit attributable to equity holders of 183 million yuan, marking the potential for the company to achieve annual profitability for the first time [3][6] - The revenue for the third quarter of 2025 was 19.45 billion yuan, a 97.3% year-on-year increase, while the net profit attributable to equity holders was 150 million yuan, compared to a loss of 690 million yuan in the same quarter of the previous year [7][8] Group 2: Financial Developments - Leap Motor signed an internal share subscription agreement with FAW Equity Investment (Tianjin) Co., with total proceeds of 3.744 billion yuan, of which approximately 50% will be allocated for R&D [3][4] - The company plans to use 25% of the funds for operational capital and general corporate purposes, and another 25% to expand its sales and service network and enhance brand awareness [4] Group 3: Strategic Initiatives - Leap Motor has established a strategic partnership with FAW Group to promote resource sharing and collaborative development in powertrains [5] - The company emphasizes its commitment to in-house research and development, covering 65% of the cost of core technologies in new energy vehicles, with a high proportion of R&D personnel [10] - Leap Motor's international business network has expanded to 35 countries and regions, with over 800 sales and service outlets, achieving a cumulative export of 60,000 units, making it a leader in overseas sales among new energy vehicle manufacturers [11]

共探新营销，共创新可能 在他眼里，过去十年间，零跑已经从2015年那个"一无所知"的门外汉，成长为如今累计交付突破120万辆、年销量近60万辆的新势力领军者。 他回顾了零跑从2015年，到如今成长为月销破7万、年销近60万的造车新势力冠军的历程。 在过去的十年里，数百家造车新势力在大浪淘沙中浮沉，而零跑这个曾经不被看好、甚至被质疑"不懂车"的企业，却凭借着对技术的死磕和对成 本的极致把控，走出了一条独特的全域自研之路。 这不仅仅是一家中国造车新势力的庆典，更是中国新能源汽车产业从草莽丛生到格局初定的缩影。 发布会上，零跑不仅交出了一份超预期的十年成绩单，更随着D系列双旗舰D19与D99的亮相，正式宣告向"年销400万辆的世界级智能电动车企"目 标发起冲锋。 设 计 | 甄尤 美 撰 文 | 莫 莉 编 辑 | 黄 大 路 "2015年零跑刚成立的时候，我们就给自己定了一个目标：成为世界级的智能电动车企。"站在十年的节点，零跑科技创始人、董事长、CEO朱江 明再次对外坚定了这一初衷。 2025年12月28日，在杭州奥体中心。当"向上，领跑"的标语映照在舞台中央，零跑汽车迎来了其创立十周年的里程碑时刻。 在这个被 ...

杭州奥体中心体育馆内，灯光璀璨。2025年12月28日晚，零跑汽车在这里庆祝自己的十岁生日。台上，创始人朱江明不紧不慢地回顾着这十年——从最初 被称作"门外汉"，到如今坐上中国造车新势力头把交椅，这个带着浓厚工程师气质的企业，走出了一条与众不同的路。 台下，中国一汽和Stellantis集团的代表、用户、经销商、投资人、媒体齐聚一堂。当GALA乐队唱起《追梦赤子心》时，现场不少人跟着哼唱。这首歌， 恰似零跑这十年的注脚。 那个曾被质疑的"门外汉"，如今稳坐新势力头把交椅 时间倒回2015年。那时，新能源汽车行业方兴未艾，各路英雄豪杰纷纷入场。朱江明带着"IT改变汽车"的梦想跨界而来，等待他的不是鲜花掌声，而是质 疑——一个做安防出身的企业，真能造好车？ "我们最初连行业规则都不太懂。"朱江明在发布会上坦言。但正是这种"不懂"，反而让零跑少了些束缚，多了些敢为人先的勇气。 十年间，近百个新势力品牌如潮水般涌来又退去，零跑却稳稳地活了下来，而且活得越来越好。截至目前，零跑累计交付量已突破120万辆，2025年全年 销量预计近60万辆，稳居中国造车新势力首位。更关键的是，他们已经连续季度盈利，企业经营步入良性轨道。 ...

Core Viewpoint - The article discusses the competitive landscape of the Chinese automotive market in 2025, highlighting a multi-faceted battle involving new products, marketing, public opinion, and values. It identifies four prominent automotive leaders who have made significant strides in this challenging environment [1][3]. Group 1: Key Figures in the Automotive Industry - **Zhu Jiangming of Leap Motor**: Successfully transitioned from proving the company's survival to achieving significant sales, with 2025 sales expected to approach 600,000 units, including 60,000 from overseas. The company is projected to achieve profitability for the first time, driven by a self-research technology strategy and a cost-effective pricing model [6][8]. - **Zhu Huarong of Changan**: Led the establishment of Changan Automobile as a state-owned enterprise, achieving significant milestones such as the production of the 30 millionth Chinese brand vehicle. The company aims for 5 million units in sales by 2030, with over 60% from new energy vehicles [10][12]. - **Yin Tongyue of Chery**: Celebrated the successful IPO of Chery, raising HKD 9.14 billion, and achieving a market value exceeding HKD 200 billion. Chery's global sales surpassed 1 million units, with a focus on local production in markets like Spain [15][17]. - **He Xiaopeng of Xpeng Motors**: Approaching profitability with a projected delivery of 350,000 units in 2025, marking a 156% year-on-year increase. The company is also expanding into robotics and flying cars, with significant advancements in AI technology [20][22]. Group 2: Challenges and Future Goals - **Leap Motor's Challenges**: Despite its success, Leap Motor faces the challenge of enhancing brand value to move into higher price segments. Zhu Jiangming aims for 1 million units in sales by 2026 and plans to introduce new products across a broader price range [7][8]. - **Changan's Strategic Focus**: Zhu Huarong must balance ambitious strategic goals with operational effectiveness, particularly in integrating resources within the large enterprise structure to navigate competitive pressures [12]. - **Chery's High-End Market Struggles**: Chery's efforts to penetrate the high-end market face challenges, particularly with its collaboration with Huawei and the Starway brand, which has yet to establish a strong domestic presence [17]. - **Xpeng's Technological Ambitions**: He Xiaopeng's focus on expanding into robotics and flying vehicles presents both opportunities and risks, as the company navigates the complexities of its technological roadmap and market expectations [22].

Core Insights - The Chinese automotive market in 2025 is characterized by intense competition across multiple dimensions, including new products, marketing, public opinion, and values, leading to a "multi-front war" among companies [1] - Four prominent automotive leaders have been recognized for their significant achievements in this competitive landscape [1] Group 1: Leap Motor - Zhu Jiangming - Leap Motor is projected to approach sales of 600,000 vehicles in 2025, with overseas deliveries contributing approximately 60,000 units, achieving its annual target ahead of schedule [3] - The company is expected to achieve its first annual profit in 2025, marking a transition to a self-sustaining phase [3] - Zhu Jiangming's strategy focuses on "full self-research" technology and a "cost pricing" business model, with 65% of components being self-developed, allowing for a competitive edge in pricing [3] - Leap Motor has expanded its global presence to 35 markets with over 800 overseas stores [3] - Despite challenges, including a brief restriction on high consumption due to a subsidiary's contract dispute, Zhu Jiangming aims for a sales target of 1 million vehicles in 2026 [4] Group 2: Changan - Zhu Huarong - Changan Automobile was officially established as a state-owned enterprise in July 2025, ranking 73rd among state-owned enterprises, with Zhu Huarong as its chairman [6] - The company achieved a significant milestone with the production of its 30 millionth vehicle in December 2025, setting ambitious targets for 2030, including sales of 5 million vehicles with over 60% from new energy sources [6][7] - Changan's high-end brand, Avita Technology, submitted a listing application to the Hong Kong Stock Exchange, aiming to be the first state-owned new energy vehicle company to go public [7] - Zhu Huarong faces the challenge of balancing strategic ambitions with operational effectiveness amid intense market competition [7] Group 3: Chery - Yin Tongyue - Chery Automobile completed its long-awaited IPO on the Hong Kong Stock Exchange, raising HKD 9.14 billion and achieving a market valuation exceeding HKD 200 billion [10] - The company exported over 1 million vehicles in 2025, with European sales increasing by over 200% year-on-year, contributing nearly 40% to total revenue [10] - Yin Tongyue aims to establish Chery as a global corporate citizen through localized production in markets like Spain [10] - Chery faces challenges in its high-end branding efforts, particularly with its collaboration with Huawei and the Xingtai brand [11] Group 4: Xpeng - He Xiaopeng - Xpeng is nearing its profitability goal, with a projected delivery of 350,000 vehicles in 2025, reflecting a year-on-year increase of 156% [13] - The company anticipates delivering between 125,000 and 132,000 vehicles in the fourth quarter of 2025, with total revenue expected to range from CNY 21.5 billion to CNY 23 billion [13] - Xpeng's stock has surged over 80% in Hong Kong and 75.8% in the U.S. since the beginning of the year, surpassing Li Auto's market capitalization [13] - The company is also venturing into robotics and flying cars, with plans to launch three Robotaxis in 2026 and a new generation of robots [14]

作者：kimsu 2025年造车新势力的竞争远比想象中的更为激烈，有品牌遗憾掉队，有品牌黯然离场，也有从生死边缘强势回归的逆袭者、首战告捷震动行业的跨界者，成 为2025年造车新势力中最"得意"的玩家，手握契合自身情况的制胜"王牌"。 零跑汽车：2025年新势力中最大的惊喜 小米汽车：入局即巅峰 令人羡慕的跨界者 2025年的小米汽车对于整个汽车行业而言无疑是一条"大鲶鱼"，一亮相就在汽车圈掀起了巨浪，以"破局者"的姿态，让其他玩家感受到了不小的压力和震 撼。这家跨界入局约4年的科技企业，以19个月达成50万辆下线的全球新能源车企最快纪录，以及第三季度1.7%的全球市场份额跻身新能源车企前15，成为 2025年得意的造车新势力之一。 零跑汽车的"得意"离不开对成本的极致掌控。与多数新势力依赖外部供应商不同，目前，零跑汽车核心零部件自研自制率已达65%，覆盖电池、电驱、智能 座舱等关键领域，既避免了被"卡脖子"的尴尬境地，又赋予了产品"好而不贵"的强大底气。凭借对关键成本的有效控制，零跑汽车将零部件环节让利给用户 的同时，整车仍能保持14%-15%的健康毛利水平。这使得零跑汽车在主打"性价比"的同时还能实现盈利 ...

当桂花香气漫溢杭州的深秋，零跑科技迎来了创业十年的重要节点。10月29日上午，阳光洒在一张张坚毅的 脸庞上，零跑科技创始人、董事长兼CEO朱江明携核心管理团队全员亮相——从战略运营到供应链，从技术研发 到品牌营销，13位高管组成的"硬核天团"，以一场打破行业常规的集体交流，向百余位媒体朋友敞开了这家企业 的成长密码。这场相聚没有华丽的辞藻，却满是十年沉淀的真诚；没有刻意的造势，却处处彰显着"朴实、低调、 认真、勤奋、高效"的零跑底色。 全域自研铸就硬核底气 "十年前踏入新能源赛道时，我们对市场几乎一无所知，只知道这是一个充满无限可能的新物种。"朱江明的 开场白带着工程师的坦诚与创业者的感慨。彼时，电池成本高达2500元一度电，电驱动形态尚无定论，智能座舱 架构更是一片空白，新能源汽车于大多数人而言，还是遥远的概念。而零跑选择了一条最难走的路——全域自 研。 新能源汽车行业的竞争早已进入深水区，价格战、技术战、供应链战轮番上演，但零跑始终坚守长期主义， 在喧嚣中保持清醒。"我们从不盲目追逐热点，任何技术投入都要满足三年投资回报的标准。"朱江明的务实在行 业中尤为难得。无论是AI、具身智能等前沿技术，还是自动化生 ...

本报讯 （记者刘钊）12月28日，零跑汽车在杭州奥体中心体育馆（小莲花）隆重举办成立十周年发布 会。 十年深耕：全域自研铸就硬核实力，市场业绩全面开花 零跑汽车的十年，是一部以"全域自研"为基因、以"科技普惠"为使命的工程师创业史。2015年，怀 揣"IT改变汽车"的愿景，拥有三十多年技术背景的创始人朱江明带领零跑跨界入局，从行业"门外汉"成 长为造车新势力领军者。独特的工程师文化与长期主义精神，成为零跑穿越行业周期、实现高质量发展 的核心支撑。 十年来，零跑始终将全域自研作为核心驱动力，初创期研发人员占比高达90%，至今仍保持80%的高水 平。研发体系全面覆盖整车架构、电子电气架构、电池、电驱、座舱系统、辅助驾驶系统等关键领域， 自研自造占整车成本的65%，掌握了新能源汽车所需的全部核心技术。凭借技术突破，零跑推出中国首 款车规级智驾芯片凌芯01，以及八合一电驱、CTC电池底盘一体化技术、四叶草中央域控等行业领先成 果，并将激光雷达、8295芯片等高端配置带入大众化市场，让更多用户享受到科技红利。 在制造与供应链领域，零跑构建了独特的"整车＋Tier"双轮驱动模式。基于深度自制战略，已建成电 芯、电池系统、 ...

此外，零跑D系列首款科技豪华旗舰SUV-D19迎来全球内饰首秀亮相，旗下首款科技豪华旗舰MPV-D99同步亮相全球首秀。中国一汽和斯泰兰蒂斯 （Stellantis）集团两大战略伙伴，以及来自用户、经销商、投资人、媒体等各界嘉宾，共同见证了这一时刻。 2025年12月28日，零跑汽车在杭州奥体中心体育馆举办十周年发布会。发布会上，零跑科技创始人、董事长、CEO朱江明在现场回顾零跑十年造车之路，并 发布未来十年战略规划。 通过与国际汽车巨头斯泰兰蒂斯集团的战略协同，零跑开创了一条高效、独特的出海路径。借助斯泰兰蒂斯集团遍布全球的资源体系，围绕渠道网络、售后 服务、汽车金融、物流及零部件赋能等展开全方位合作，实现品牌国际化的加速突围。截至目前，零跑业务网络已覆盖全球35个国家和地区，成功登陆欧 洲、亚太、南美、中东及非洲等区域，海外销售和服务网点建设超800家，其中欧洲超750家，亚太超60家，南美超40家。继2024年10月获得斯泰兰蒂斯集团 战略投资后，零跑于2025年3月与中国一汽达成深度合作。 继今年10月16日在上海浦东全球外观首秀之后，零跑D19在本次发布会上迎来内饰全球首秀。新车提供六座/七座灵活布 ...

Core Insights - Leap Motor, celebrating its 10th anniversary, reported significant achievements for 2025, including nearly 600,000 annual sales and expansion into 35 overseas markets with over 800 stores [1] - The company's growth trajectory aligns with China's strategic transformation periods, showcasing a successful example of "bending the curve" in manufacturing [1] - Leap Motor's commitment to core technology independence has been evident since its inception, focusing on self-developed components to differentiate itself from competitors [2][3] Company Development - Leap Motor launched its first model, the S01, in 2017, which, despite low sales, served as a testing ground for its self-research capabilities [2] - The company transitioned to the high-value micro electric vehicle market with the T03 in 2020, achieving rapid sales growth and funding further research [3] - Leap Motor has built a robust engineering team of 6,000, with over 80% in R&D, achieving over 65% self-manufacturing of core vehicle components [3] Technological Advancements - Leap Motor has developed key technologies such as the "Lingxin 01" automotive-grade intelligent driving chip and an integrated battery chassis system, breaking foreign technology monopolies [3][4] - The company has achieved an 88% commonality rate in parts across its C series SUVs, significantly reducing R&D and manufacturing costs [3] - Advanced features previously exclusive to luxury vehicles are now standard in Leap Motor's models, promoting wider adoption of smart electric vehicles [4] Market Positioning - Leap Motor has strategically targeted the mainstream market (priced between 100,000 to 200,000 yuan), emphasizing cost-effectiveness over brand premium [6] - The company has achieved over 600,000 annual sales and 60,000 overseas deliveries by 2025, leading among new energy vehicle brands [6][8] - Leap Motor's unique approach of focusing on engineering capabilities rather than market trends has allowed it to navigate industry challenges successfully [6][7] Global Expansion - Leap Motor's global strategy includes partnerships with Stellantis to enhance its international presence, with over 800 overseas channels established [9][10] - The company showcased its models at international auto shows, gaining attention and interest from global automotive leaders [8][9] - Leap Motor plans to expand into South America, establishing a network of dealerships and local partnerships to facilitate market entry [10] Strategic Vision - Leap Motor's journey reflects the broader evolution of China's electric vehicle industry, emphasizing the importance of technological independence and long-term commitment [11][12] - The company maintains a cautious approach to its achievements, recognizing the need for continuous improvement to reach global competitiveness [12] - Leap Motor's story is a testament to the potential of Chinese manufacturing to excel on the global stage through innovation and strategic alignment with national goals [12]