Core Viewpoint - The entry of Chasing Technology into the automotive industry highlights the ongoing trend of companies from various sectors, including technology and home appliances, venturing into car manufacturing amidst a highly competitive market [2][3][5]. Industry Overview - The automotive industry is experiencing intense competition, with numerous companies like WM Motor and NIO facing bankruptcy. The profit margin in the automotive manufacturing sector has significantly declined, with profits dropping by 8% year-on-year to 462.3 billion yuan in 2024, and the profit margin further decreasing to 3.9% in the first quarter of this year [3]. Company Strategy - Chasing Technology aims to capitalize on the lowered barriers to entry in automotive manufacturing, with the modularization of components and a significant reduction in battery manufacturing costs over the past decade [4]. The company plans to establish a luxury electric vehicle that will compete with brands like Bugatti, with a launch scheduled for 2027 [2]. Market Positioning - The company has formed a dedicated team of nearly 1,000 people for its automotive project and is strategically located near major production bases like Tesla and CATL in Shanghai [6]. Chasing Technology's approach is to first target overseas markets before entering the domestic market [6]. Business Expansion - Chasing Technology has diversified its business model beyond its original focus on cleaning appliances, now venturing into various sectors including home appliances and drones. The company aims to become a boundary-less "ecosystem enterprise" [7][8]. Entrepreneurial Philosophy - The founder of Chasing Technology, Yu Hao, emphasizes a philosophy of either not entering a market or aiming to be the market leader, which drives the company's aggressive expansion strategy across multiple industries [8].