Group 1 - The 2025 National New Energy Vehicle Rural Promotion Activity was launched on June 15 in Rugao City, marking the fifth consecutive year that Jiangsu hosts the first event [1] - The event is organized by multiple associations and government bodies, including the China Automobile Industry Association and the Jiangsu Provincial Government [1] - The theme for this year's activity is "Green, Low-Carbon, Intelligent, Safe - Empowering New Rural Areas, Enjoying New Travel" [2] Group 2 - The number of vehicle models available for the rural promotion has increased from 99 last year to 124 this year, with price ranges from 30,000 to 500,000 yuan [2] - The types of vehicles include micro-mobility, plug-in hybrid SUVs, new energy commercial vehicles, and pickups, providing consumers with a wider selection [2] - Over 70 new energy vehicle brands participated in the exhibition and sales event, showcasing more than 150 vehicles to local villagers [2]

Group 1 - The construction of a convenient 15-minute living circle is being accelerated in China [4] - Multiple measures are being implemented to empower the rural promotion of new energy vehicles by 2025 [5] - The national agricultural credit guarantee system has supported grain supply stability with over 120 billion yuan in the first five months [12] Group 2 - The port of Hong Kong-Zhuhai-Macao has seen cross-border e-commerce transactions exceed 200 billion yuan [13] - The first five months of 2023 have shown rapid growth in imports and exports with the five Central Asian countries [6]

Core Insights - The 2025 New Energy Vehicle (NEV) rural promotion event is the largest and most extensive since its inception, aiming to enhance NEV consumption in rural areas and build a green, low-carbon, intelligent, and safe transportation system for rural residents [1][12] Group 1: Market Potential - The rural market for NEVs is considered a blue ocean, with predictions indicating that by 2030, the car ownership per thousand people in rural areas could reach 160, resulting in a total ownership exceeding 70 million vehicles and a market size potentially surpassing 500 billion yuan [4] - As of June 2023, the NEV penetration rate in first-tier cities has exceeded 60%, while rural areas only accounted for 4% of total vehicle sales, indicating significant growth potential [13] Group 2: Vehicle Offerings - This year's event features a record 124 vehicle models, significantly more than previous years, which had 60, 52, 70, 69, and 99 models respectively from 2020 to 2024 [5] - The variety of models has expanded to include off-road vehicles, commercial vehicles, pickups, and light trucks suitable for rural use, with popular models such as BYD Qin PLUS and Tesla Model 3 included [5][9] Group 3: Participation and Sales Growth - The number of participating brands has increased from 10 to 33, with several new energy vehicle startups like NIO, Li Auto, and Xpeng joining the initiative [7] - Sales from the NEV rural promotion events have shown significant growth, with total sales reaching over 3.2 million units in 2023, and an expected increase to over 4 million units by 2025 [14]

记者从工业和信息化部了解到，2025年新能源汽车下乡入围的车型数量较往年有明显提升，首次突破百款，达到了124款，从微型车到豪 华车全面覆盖，满足消费者多样化的需求。此外，今年的新能源汽车下乡将选取一批新能源汽车推广比例不高、市场潜力较大的典型县域城 市，举行若干场专场活动，以此为中心辐射周边乡镇。同时，与县域充换电设施补短板试点、智能网联汽车"车路云一体化"试点等形成协同效 应，推动优质资源向乡村地区倾斜。 工业和信息化部相关负责人表示，今年的新能源汽车下乡，还鼓励各类新能源汽车生产、销售、金融、充换电及售后服务等领域市场主体共同 参与，结合"以旧换新"等政策，为消费者定制"购车优惠+用能支持+服务保障"一体化促销方案。 在2025新能源汽车下乡的首站——江苏如皋，记者在活动现场看到，今年的新能源汽车下乡的主题是"绿色、低碳、智能、安全——赋能 新农村，畅享新出行"。据了解，首站活动共有60多个新能源汽车品牌190辆适配乡村需求的新能源车型集中亮相，涵盖轿车、SUV、皮卡及商 用车，价格从几万元到几十万元不等。不仅如此，现场还有十余个充电桩企业进行了集中展示。专家表示，随着我国新能源汽车下乡的不断深 入，充 ...

Core Insights - The rural market in China is emerging as a significant growth area for the automotive industry, particularly for electric vehicles (EVs) [1][3] - The Ministry of Industry and Information Technology, along with other governmental bodies, has launched a 2025 initiative to promote the adoption of new energy vehicles in rural areas, featuring a diverse range of 124 models [1][3][4] Policy and Market Dynamics - The 2025 initiative represents a systematic upgrade in policy, focusing on sustainable development and integrating "green travel" with rural revitalization [3][4] - The number of vehicle models available has increased significantly, from 60 in 2020 to 124 in 2023, catering to various consumer needs in rural areas [4][5] - The initiative aims to stimulate market growth by enhancing consumer awareness and providing a wider range of affordable options [3][5] Infrastructure and Technological Advancements - The initiative emphasizes the importance of charging infrastructure, with plans to develop charging stations in rural areas to support the growing number of EVs [6][10] - The integration of vehicle-to-grid (V2G) technology is expected to enhance the utility of EVs as distributed energy storage units in rural settings [3][6] Consumer Engagement and Market Penetration - The program aims to address consumer pain points by providing direct access to vehicles and services in rural areas, enhancing the overall purchasing experience [7][8] - There is a need for ongoing consumer education and targeted marketing strategies to promote EV adoption in rural communities [11][12] Recommendations for Future Development - To ensure sustainable growth in the rural automotive market, it is essential to establish a permanent sales and service network that goes beyond temporary promotional activities [8][12] - The government should focus on targeted subsidies and support for infrastructure development, ensuring that charging facilities meet the specific needs of rural consumers [10][12]

分析师：牟国洪 登记编码：S0730513030002 锂电池 mough@ccnew.com 021-50586980 销量持续增长，短期建议关注 ——锂电池行业月报 证券研究报告-行业月报 强于大市(维持) 发布日期：2025 年 06 月 12 日 锂电池相对沪深 300 指数表现 资料来源：中原证券研究所，Wind 相关报告 《锂电池行业专题研究：业绩显著改善，板 块可关注》 2025-05-19 《锂电池行业月报：销量同比高增长，短期 关注》 2025-05-13 《锂电池行业月报：销量持续高增长，短期 适度关注》 2025-04-14 联系人：李智 马嵚琦 5 月锂电池板块指数走势弱于沪深 300 指数。2025 年 5 月，锂电 池指数下跌 0.01%，新能源汽车指数下跌 0.80%，而同期沪深 300 指数上涨 0.83%，锂电池指数走势弱于沪深 300 指数。 风险提示：行业政策执行力度不及预期；细分领域价格大幅波动；新 能源汽车销量不及预期；行业竞争加剧；盐湖提锂进展超预期；系统风 险。 本报告版权属于中原证券股份有限公司 www.ccnew.com 请阅读最后一页各项声明 第 1 页 / ...

在最新一批"新能源汽车下乡"活动的参与企业名单中，两个名字的出现引发了市场的广泛热议，甚至带来了一种奇妙的"错位感"——特斯拉和蔚来。 一直以来，"汽车下乡"政策给人的印象，更多是与高性价比、经济实用型的小型电动车相关联。它的主角，似乎理应是那些能满足乡镇居民基本代步需求 的"国民神车"。而特斯拉和蔚来，这两个分别代表着全球智能电动标杆和中式豪华服务体验的品牌，其目标客群始终被认为是城市里的中产精英和科技先 锋。 当"都市精英"的座驾，开始出现在"下乡"的推广目录里，这绝非简单的政策性"凑数"。这背后，既有国家层面推动新能源战略纵深发展的宏大叙事，也隐 藏着这些高端品牌在市场"内卷"加剧下，不得不提前布局下沉市场的一场精心策划。 01 何是特斯拉和蔚来？ 将这两个品牌纳入"下乡"名单，其背后的考量是双向的。 从政策制定者的角度看，首先肯定考虑的是"标杆效应"的召唤。 纳入特斯拉和蔚来，无疑会极大提升"汽车下乡"活动的品牌形象和影响力。这向市场传 递出一个明确信号：新能源下乡并非简单的"清库存"，而是要将最高品质、最先进技术的产品，同样带给广大的农村消费者。这有助于打破"下乡=低 端"的刻板印象。 而农村市场也 ...

● 本报记者李嫒嫒 记者6月11日从中国汽车工业协会获悉，5月，我国汽车销量达268.6万辆，同比增长11.2%。其中，新能 源汽车销量达130.7万辆，同比增长36.9%。 中汽协副秘书长陈士华表示，今年以来，"两新"政策加力扩围，持续显效，叠加车企新品投放、多地车 展促销等利好因素，助力汽车市场消费活力加速释放。 5月汽车市场延续良好态势 陈士华表示，5月汽车市场延续良好态势，产销量较去年同期均实现10%以上的增长，且内需和出口均 有较好的表现。其中，乘用车市场表现活跃，新能源汽车继续快速增长，汽车出口增速明显提高。 5月，商用车产销量分别完成33.6万辆和33.5万辆，产量同比增长4.4%，销量同比下降2%。 分市场来看，5月国内汽车销量213.5万辆，同比增长10.3%。5月汽车出口55.1万辆，同比增长14.5%。 其中，传统燃料汽车出口33.9万辆，同比下降11.5%；新能源汽车出口21.2万辆，同比增长1.2倍，保持 快速增长态势。 新能源汽车产销量快速增长 5月，新能源汽车产销量分别完成127万辆和130.7万辆，同比分别增长35%和36.9%，新能源汽车新车销 量达到汽车新车总销量的48.7 ...

Core Insights - The report maintains a positive investment rating for the sector, highlighting potential growth opportunities driven by recent developments in the electric vehicle market, particularly with Tesla's initiatives in China and the U.S. [2][6] Market Performance - During the week from June 2 to June 6, the Shanghai Composite Index closed at 3385 points, up 1.13%, while the Shenzhen Component Index rose 1.42% to 10184 points. The ChiNext Index increased by 2.66% to 2867 points. The large-cap index closed at 3438 points, up 0.75%, and the small-cap index closed at 4476 points, up 2.05%, with a small-cap to large-cap closing index ratio of 1.30 [10][11]. Key Events - **Tesla China Referral Program**: On June 5, Tesla China launched a referral program offering dual benefits for both referrers and buyers. Referrers can earn up to 8000 yuan in Tesla points for successful referrals, while buyers can receive 8000 yuan off paint options upon delivery [14][15]. - **Tesla's Inclusion in "Rural Electrification" Program**: On June 3, Tesla was included in China's 2025 "Rural Electrification" initiative, which features 124 models, marking the first time Tesla has been listed in this program [16][17]. - **Cybertruck Discount in the U.S.**: On June 6, Tesla announced a 5-year interest-free loan for the Cybertruck, available to customers who purchase the Full Self-Driving (FSD) package for $8000, with the promotion ending on June 30 [17][18]. - **Tesla's May Sales Figures**: In May, Tesla's wholesale sales in China reached 61,662 units, reflecting a year-on-year decrease of 15% but a month-on-month increase of 5.5% compared to April's sales of 58,459 units [20][21]. Investment Recommendations - The report suggests focusing on companies such as Top Group, Sanhua Intelligent Control, Yinlun Holdings, and Hengli Hydraulic, as they are expected to benefit from the ongoing developments in the electric vehicle sector and related technologies [6][20].

Core Viewpoint - The article emphasizes the promotion and integration of new energy vehicles (NEVs) in rural areas, aiming to enhance the consumption and usage of NEVs through various supportive policies and activities [11][12][16]. Industry Data - As of April, the sales proportion of new energy medium and heavy trucks and light trucks has slightly increased within the overall new energy commercial vehicle market, while other vehicle types have seen a slight decline. The penetration rate of new energy trucks has improved across the board, while the penetration rate for large and medium buses has continuously decreased to 44.44% [3][5]. - The penetration rates for different types of buses and trucks show a trend where large and medium buses are at 44.44%, while medium and heavy trucks have a penetration rate of 20% [5][6]. Policy and Regulations - The Ministry of Industry and Information Technology, along with other departments, has launched a notification for the 2025 NEV rural promotion activities, focusing on building a green, low-carbon, intelligent, and safe travel system for rural residents [11][12]. - Local governments, such as the Luzhou Municipal Government, have introduced measures to promote the application of new energy vehicles across various sectors, including public transport and construction [15]. Company Dynamics - Chery Commercial Vehicles has launched the Phoenix series super heavy trucks, designed for high-frequency operations within a 500 km range, featuring advanced battery technology and enhanced driving comfort [21]. - Geely Radar has introduced two new electric hybrid pickup trucks, emphasizing their capabilities for long-distance travel and performance in regions with limited charging infrastructure [19]. - BAIC Foton has delivered the first batch of 126 electric buses to Australia, marking a significant milestone in the international expansion of NEV products [25]. Supply Chain Developments - Lithium Source Technology has released a new cathode material, T246, aimed at improving performance in low-temperature and high-rate applications, indicating ongoing innovation in battery technology [26]. - BASF has launched a new material suitable for high-voltage connectors in electric vehicles, enhancing safety and durability [26]. Market Trends - The article highlights the increasing penetration of new energy vehicles in various sectors, with a focus on enhancing the infrastructure and service environment for NEVs in rural areas [12][18]. - The trend towards low-carbon and green technologies is evident in the initiatives taken by various provinces to promote electric vehicle infrastructure and manufacturing [8][10].