Group 1 - Renault Group appointed Duncan Minto as interim CEO to replace Luca de Meo, who left the company on July 15 [1] - The new management team faces challenges including addressing Renault's electric vehicle strategy in light of relaxed European carbon emission policies and determining the future of its alliance with Nissan [1][2] - Renault's recent partnership with CICC for a new energy vehicle fund indicates a strategic focus on the Chinese market [2][3] Group 2 - Renault's shift to a light asset operation model in China, following the closure of three joint ventures, has garnered global media attention for its uniqueness [6] - The company aims to leverage China's technological advancements and supply chain advantages to enhance its competitiveness in Europe [6][8] - Renault's CEO in China, Su Weiming, emphasized the importance of adapting to technological changes and geopolitical factors in formulating strategies [8] Group 3 - Renault's financial turnaround is notable; after experiencing a net loss of €8 billion (approximately ¥67.5 billion) in 2020, the company reported a net profit of €368 million (approximately ¥3.07 billion) in the first half of 2021 [9] - The introduction of electric models from its Chinese subsidiary, including the Dacia Spring, has significantly boosted Renault's presence in the European electric vehicle market [11][12] - The establishment of the ACDC research center in China is expected to further enhance Renault's R&D capabilities and cost efficiency [14] Group 4 - Renault's strategy includes collaborating with Chinese suppliers to create a mutually beneficial ecosystem, aiming to expand globally [15][17] - The company has engaged in partnerships with Chinese firms like Geely and Envision to explore overseas market opportunities [17][18] - Su Weiming highlighted the need for Chinese companies to adapt their strategies for international expansion, focusing on R&D, supply chain, and logistics [18]

撰 文 / 刘宝华 设 计 / 琚 佳 2025年参加新车发布会，经常会有恍惚之感。 比如5月9日上市的吉利银河星耀8，6月30日以前的限时价11.58-15.58万元，限时价过后也只是每个 版本回升1万元。 银河星耀8属于C级轿车，车身尺寸5018×1918×1480mm，与奥迪A6L同级，后者的指导价为42.79- 65.68万元。 当然，在连年价格战的倾轧下，实际成交价与指导价相去甚远。易车发布的数据，2024年C级轿车 的销量基本集中在8款传统豪华品牌合资车上，销量合计48.6万辆，实际成交价27万元至50万元不 等。 对比吉利银河星耀8的11.58-15.58万元，相差3倍左右。如果逐项对比功能配置，悬殊感会更强烈， 是传统燃油车经典款和智能电动车最新款代际差的悬殊——技术、性能、配置、功能更好的一方反 而售价低得多，价格不是百分比的差异，而是倍数级的差异。 这一幕好比晚清或民国街头的既视感，长袍马褂长辫子与西装革履礼帽同场，小轿车与黄包车同 行。 对整个中国汽车，乃至全球汽车行业来说，这不仅仅是驱动方式的电动化，也不仅仅是驾驶方式的 智能化，由欧美汽车公司缔造、日韩跟进的旧有汽车产品等级划分、品牌 ...

投资评级 看好 汽车行业跟踪（2025.4.21-2025.4.25）：华为发布乾崑智驾 ADS 4 行业首发高速 L3 商用解决方案 [Table_Industry] 汽车行业 [Table_ReportDate] 2025 年 4 月 27 日 2 证券研究报告 行业研究 [行业周报 Table_ReportType] [Table_StockAndRank] 汽车 上次评级 看好 邓健全 汽车行业首席分析师 执业编号：S1500525010002 联系电话：13613012393 邮箱：dengjianquan@cindasc.com 赵悦媛 汽车行业联席首席分析师 执业编号：S1500525030001 联系电话：13120151000 邮箱：zhaoyueyuan@cindasc.com 赵启政 汽车行业高级分析师 执业编号：S1500525030004 邮箱：zhaoqizheng@cindasc.com 丁泓婧 汽车行业分析师 执业编号：S1500524100004 联系电话：13062621910 邮箱：dinghongjing@cindasc.com 徐国铨 汽车行业研究助理 邮箱：xugu ...