Core Viewpoint - Chery Automobile is focusing on both new energy and fuel vehicles, believing it is an era of "coexistence of oil and electricity" [2][3] Group 1: New Strategy and Product Launch - Chery launched its "China New Fuel" strategy and introduced several new models, including the Tiggo 9X and Tiggo 9, with promotional prices starting at 127,900 yuan and 137,900 yuan respectively [2] - The Tiggo series has a strong market presence, with cumulative global sales reaching 6.068 million since its inception in 2005 [2] Group 2: Technological Advancements - Chery is one of the few Chinese automakers that has independently developed the "three major components" of fuel vehicles, which supports its aggressive stance in the fuel vehicle market [3] - The new generation Kunpeng power engine has a cumulative installation of over 3.1 million units, and the second-generation Kunpeng 8AT is the only self-developed 8AT in China [3] Group 3: Sales Performance and Market Position - Chery Group's SUV sales are projected to reach 2.15 million units globally in 2024, with 1.42 million units sold from January to August 2025, marking a 15.3% increase [4] - The Tiggo family is expected to achieve global sales of 1 million units in 2024, with 600,000 units sold by August 2025 [4] Group 4: Model Differentiation - The Tiggo 9X is designed for spaciousness and intelligence, featuring a wheelbase of 2,770 mm and a maximum trunk capacity of 2,065 liters [4] - The Tiggo 9 focuses on strong power and better handling, equipped with a Kunpeng 2.0T GDI engine and second-generation Kunpeng 8AT, delivering a maximum power of 192 kW and peak torque of 400 N·m [5]

Core Viewpoint - Chery has launched its "New Fuel" strategy, introducing the new models Tiggo 9X and Tiggo 9, along with a high-performance version, aiming to redefine the value of fuel vehicles in China [1][3]. Group 1: New Product Launch - The launch event for the Tiggo 9 series took place in Xi'an on September 27, featuring promotional prices: Tiggo 9X starting at 127,900 yuan, Tiggo 9 at 137,900 yuan, and the high-performance version at 155,900 yuan [1]. - The "New Fuel" strategy is accompanied by the introduction of the Tiggo 9 series, marking a significant step in Chery's product lineup [1][3]. Group 2: Technological Advancements - Chery has achieved full-stack self-research and manufacturing of the "three major components," with over 3.1 million units of the new generation Kunpeng power engine installed globally [5]. - The company has integrated advanced intelligent driving features into fuel vehicles, enhancing driving smoothness and fuel efficiency, alongside a smart cockpit experience [5]. Group 3: Safety and Global Positioning - Chery has invested over 100 billion yuan in safety features, including a robust body structure, 360° airbags, and top-tier manufacturing processes to ensure comprehensive user safety [5]. - The company ranks first in growth among the world's top 500 automotive enterprises and exports to over 120 countries, with one in five Chinese cars exported being a Chery vehicle [5].

Core Viewpoint - The traditional fuel vehicle market is undergoing a transformation focused on "intelligentization" to compete with the rising penetration of electric vehicles, with major automakers like Geely and Chery launching new fuel models that enhance smart driving and cockpit technologies [3][4]. Group 1: Industry Trends - The penetration rate of new energy vehicles is increasing, prompting traditional fuel vehicles to enhance their smart features to close the experience gap with electric vehicles [3]. - Recent data from the Ministry of Industry and Information Technology shows significant improvements in the intelligent configurations of newly launched fuel models, particularly in smart driving, smart cockpit, and vehicle networking [3][4]. Group 2: Company Strategies - Chery has launched its "China New Fuel" strategy with the introduction of the Tiggo 9X and Tiggo 9 models, while Geely has unveiled the new "China Star" series, integrating AI models and advanced driving systems [3][4]. - Geely's sales manager emphasized the complexity of fuel vehicle usage scenarios, indicating that users expect fuel vehicles to have smart driving capabilities comparable to electric vehicles [4]. - Chery's executive vice president stated that the key to maintaining competitiveness in fuel vehicles lies in technological upgrades [4]. Group 3: Market Performance - In August, domestic traditional fuel passenger vehicle sales reached 902,000 units, marking a year-on-year increase of 13.5%, with three consecutive months of growth [4]. - Geely's total sales exceeded 1.4 million units in the first half of the year, with the "China Star" series fuel vehicles experiencing a 21% year-on-year increase in sales, accumulating over 1.62 million users [4].

Core Viewpoint - Chery has launched the "China New Fuel" strategy, aiming to lead the global fuel vehicle market into a new era with a focus on "new technology," "new intelligence," "new safety," and "new pattern" [1] Group 1: Strategic Initiatives - The "China New Fuel" strategy is a declaration of Chery's technological advancements and reflects the evolution of the Chinese automotive industry from learning to leading [1] - Chery introduced the first models under this strategy, the Tiggo 9X and Tiggo 9, along with the high-performance version of Tiggo 9 [1] Group 2: Technological Leadership - Chery has been a pioneer in fuel technology since its inception, overcoming significant technical challenges with self-developed "three major fuel components" [1] - The company emphasizes a long-term commitment to technological innovation, positioning itself as a leader in the fuel vehicle sector [1] Group 3: Market Position - Chery is recognized as the global sales champion in the SUV segment, leveraging its strong capabilities in the fuel vehicle market to drive comprehensive technological updates [1] - The "China New Fuel" strategy is seen as a guiding force for the future development of fuel vehicles in China, especially as the industry faces growth challenges [1]

Core Viewpoint - The revival of fuel vehicles is anticipated as the purchase tax for new energy vehicles is set to be reinstated at a reduced rate, prompting automakers like Chery to launch significant promotional campaigns for their fuel vehicle products, including the introduction of the "New Chinese Fuel" strategy [1][5] Group 1: New Strategy and Market Context - Chery has launched the "New Chinese Fuel" strategy, emphasizing technological advancements and a shift in the automotive landscape from learning to leading [1][5] - The Chinese passenger car market is projected to reach a record high of 27.563 million units in 2024, with 12 million users still opting for fuel vehicles, highlighting the importance of updating fuel vehicle technology [2] Group 2: Product Launch and Features - The first models under the "New Chinese Fuel" strategy are the Tiggo 9X and Tiggo 9, with promotional prices starting at 127,900 yuan and 137,900 yuan respectively [2] - The Tiggo 9X is positioned as a "wide-body ultra-comfortable smart flagship," featuring the Qualcomm Snapdragon 8255 chip and the Falcon 500 intelligent driving assistance system [2][4] - The Tiggo 9 is equipped with a Kunpeng 2.0T GDI engine and the second-generation Kunpeng 8AT transmission, delivering a maximum power of 192 kW and peak torque of 400 N·m [4] Group 3: Safety and Design Innovations - The Tiggo 9X adheres to global five-star safety standards, featuring a high-strength steel body with an 85% steel ratio and seven airbags, including a unique far-end airbag [2][4] - The Tiggo 9 includes a rock-solid body and a unique 10-airbag system, along with L2.5 level intelligent driving assistance and Bosch IPB line control braking [4] Group 4: Industry Impact and Future Outlook - Chery aims to break the stereotype of stagnation in fuel vehicle technology by leveraging 30 years of technical accumulation and self-developed systems, providing a model for fuel vehicle technology iteration [5] - The "New Fuel" strategy seeks to balance the development of both fuel and electric vehicles, advocating for a diversified energy approach in the automotive industry [5]

Core Viewpoint - Chery Automobile officially launched its "China New Fuel" strategy, which includes four key areas: "New Technology," "New Intelligence," "New Safety," and "New Pattern," during the launch event for the new Tiggo 9 series models [1][2]. Group 1: New Product Launch - The Tiggo 9X is priced starting at 127,900 yuan, the Tiggo 9 at 137,900 yuan, and the high-performance version at 155,900 yuan for a limited time during the National Day holiday [2]. - The Tiggo 9 series is positioned to adapt to the upcoming shift in the Chinese automotive industry, where the penetration rate of new energy vehicles is expected to exceed 50% by 2025, while traditional fuel vehicles will continue to evolve [2]. Group 2: New Technology - Chery has achieved full-stack self-research and manufacturing for key components such as engines, transmissions, and four-wheel drive systems [5]. - The Tiggo 9X features the Falcon 500 intelligent driving system, supporting functions like high-speed NOA, memory parking, and VIP customized city navigation, showcasing the integration of fuel and electric intelligence [5]. Group 3: New Safety - The Tiggo 9 series utilizes 85% high-strength steel and 21% hot-formed steel in its body structure, equipped with 10 airbags and L2.5 level intelligent driving assistance as standard [6]. - The vehicle is powered by a Kunpeng 2.0T engine with a maximum power output of 192 kW, paired with a second-generation 8AT transmission, enhancing its performance capabilities [6]. Group 4: New Pattern - Chery has established a global presence, with one in five exported Chinese cars being from Chery, and its products are sold in over 120 countries and regions [8]. - The Tiggo 9 is priced between 300,000 to 400,000 yuan overseas, positioning it as a typical case of high-end Chinese brand development [8]. - Chery has set up eight global R&D centers and conducted extensive real-world testing across 1,250 million kilometers, creating a comprehensive global development system [8]. - The company emphasizes its commitment to advancing technology in fuel vehicles, asserting that fuel cars will not disappear but will evolve to be smarter, safer, and more globalized [8].

Core Insights - The Chinese automotive market is undergoing a significant energy transformation as the penetration rate of new energy vehicles surpasses 50%, yet over 12 million fuel vehicle users still demand technological upgrades for better experiences [1][4]. Strategic Breakthrough - Chery Automobile has launched the "China New Fuel" strategy, introducing the flagship models Tiggo 9 and Tiggo 9X, emphasizing "new technology, new intelligence, new safety, and new patterns" for the evolution of fuel vehicles [3][4]. - The strategy aims to redefine the value proposition of fuel vehicles, moving from "power competition" to "comprehensive value competition," leveraging Chery's 30 years of technological expertise [4]. Technological Advancements - Chery's self-developed Kunpeng powertrain has achieved over 3.1 million units installed globally, with the 2.0TGDI engine boasting a thermal efficiency of 41%, placing it among the global leaders [4]. - The second-generation Kunpeng 8AT transmission, featuring 96% maximum mechanical efficiency and a wide speed ratio of 7.8, complements the AWD Snow Leopard system, creating a balanced technical ecosystem [4]. Product Features - The Tiggo 9X is designed as a "wide-body ultra-comfortable smart flagship," equipped with advanced features like the Qualcomm Snapdragon 8255 automotive-grade chip, enabling stable smart interactions in extreme temperatures [5]. - The vehicle includes the Falcon 500 intelligent driving assistance system, which can memorize 20 routes of 150 km each, significantly reducing driving fatigue and enhancing user experience [5][6]. Space and Safety - The Tiggo 9X offers spacious dimensions (4817×1930×1741 mm) and a long wheelbase of 2770 mm, providing a loading capacity suitable for family outings, with a maximum trunk volume of 2065L [7]. - Safety features include a five-star global safety standard design, an 85% high-strength steel body, and seven airbags, ensuring comprehensive protection [7][9]. Market Positioning - The Tiggo 9 is positioned as a "more powerful and comfortable" family vehicle, featuring a Kunpeng 2.0T GDI engine with a maximum power of 192 kW and peak torque of 400 N·m, ensuring robust performance [9]. - Pricing strategies include an introductory price of 127,900 yuan for the Tiggo 9X and 137,900 yuan for the Tiggo 9, along with incentives like up to 20,000 yuan in trade-in subsidies, making high-end fuel vehicles more accessible [11][13]. Industry Insights - The launch of the Tiggo 9 series reflects the coexistence of fuel and electric vehicles in the Chinese market, providing traditional fuel vehicle users with upgraded options and enriching the market supply structure [13][15]. - Chery's strategy aligns with the dual-driven approach of integrating new energy technologies while enhancing fuel vehicle offerings, contributing to the narrative of "Chinese intelligence" in the global automotive industry [15].