Core Insights - The Guangzhou Auto Show 2025 showcased the newly launched six-seater SUV, the Zhiji LS9, and the next-generation Zhiji LS6, with Zhiji Auto achieving over 10,000 units sold for two consecutive months following their launches [1][3] - The Zhiji LS9 has officially commenced nationwide user deliveries, while Zhiji Auto has partnered with CATL to add production lines for the 66-degree Super Xiaoyao MAX battery to accelerate delivery [1][3] - The LS9 is equipped with advanced features such as the "Lingxi Digital Chassis 3.0," vector four-wheel drive system, and a starting price of 322,800 yuan, competing against models like Zeekr 9X and Li Auto L9 [3][4] - The LS6, priced from 197,900 yuan, boasts the largest CATL 66-degree Super Xiaoyao MAX battery, offering a range of 450 km and ultra-fast charging capabilities, addressing industry pain points with a combined fuel consumption of 2.07L per 100 km [3] - As the premium electric vehicle brand of SAIC Group, Zhiji faces intense market competition and has introduced the Stellar Super Range Extender technology, marking its entry into the plug-in hybrid segment with the LS6 [3][4] - The LS9 represents Zhiji's first model in the range extender category and is positioned as the flagship model within SAIC's product lineup, aimed at enhancing brand positioning and expanding market share in the high-end segment [4]

Core Viewpoint - Zhiji Auto has officially entered the plug-in hybrid (range-extended) market with the launch of its "Hengxing Super Range Extension Technology," moving beyond its previous focus on pure electric vehicles [1][3]. Group 1: Product Launch and Technology - The first range-extended model, the new Zhiji LS6, will begin pre-sales on August 15, with a large SUV model, the Zhiji LS9, expected to debut in the fourth quarter of this year [1]. - The Hengxing Super Range Extension Technology features a 66kWh battery developed in collaboration with CATL, offering a pure electric range of over 450 km under CLTC standards [3]. - The technology includes an 800V ultra-fast charging platform, achieving a peak charging power of 268 kW, allowing for a 310 km range replenishment in just 15 minutes [3]. Group 2: Performance and Efficiency - The range-extended engine, Zephyr 1.5T, has a fuel consumption of 5.32L/100km when the battery is depleted, and a combined energy consumption of 2.07L/100km, compatible with 92-octane gasoline [5]. - The Hengxing Super Range Extension is equipped with an AI energy management system for optimal power allocation and features active noise cancellation technology to keep cabin noise at 36 decibels during idle [5]. Group 3: Market Position and Sales Performance - Established in late 2020, Zhiji Auto is a high-end electric vehicle brand under SAIC Group, initially focusing on models priced above 300,000 yuan [5]. - In 2022, Zhiji launched the L7 sedan and LS7 SUV, but sales were modest, totaling 5,000 units. However, sales increased to 38,200 units in 2023, still trailing behind leading competitors [5][6]. - The company has adopted a more pragmatic approach by introducing models priced between 200,000 and 300,000 yuan, resulting in a significant sales increase, with cumulative sales reaching 65,500 units in 2024, a year-on-year growth of 71.24% [6]. Group 4: Competitive Landscape - The Chinese new energy vehicle market is becoming increasingly competitive, with many brands launching a variety of plug-in hybrid models in the same price range, posing challenges for Zhiji, which has a limited product lineup [6][8]. - The company’s sales in the first half of 2023 were 19,200 units, a decline of 14.67% year-on-year, despite promotional pricing efforts [8]. - The upcoming launch of the Zeekr 9X range-extended model will position it as a direct competitor to the Zhiji LS9, highlighting the competitive pressures in the market [10].