Core Insights - The Chinese automotive market has surpassed a 50% penetration rate for new energy vehicles, yet there remains a significant demand for improved fuel SUVs, as evidenced by the success of Jietu Motors' X70 series, which has achieved over 1 million units sold in 87 months [1][4] Group 1: Market Context - Despite the growth of new energy vehicles, fuel vehicles still account for nearly half of the market, with over 12 million users expected to choose fuel vehicles in the Chinese passenger car market in 2024 [3] - The global automotive market is anticipated to remain in a hybrid era for a considerable time, necessitating continuous evolution of fuel vehicles to meet user demands for luxury, comfort, and intelligence [3] Group 2: Jietu Motors' Strategy - Jietu Motors has consistently focused on a "Travel+" strategy, prioritizing user needs and responding to market demands since the launch of its first model, the X70, in August 2018 [4][6] - The X70 series has been recognized as the "Champion of China's Large Seven-Seater SUVs," reflecting its alignment with market trends and user preferences [4][6] Group 3: Product Development - The newly launched Jietu X70L is positioned as a "maglev luxury electric seven-seater SUV," representing a significant upgrade in the fuel vehicle segment and aiming to redefine luxury standards for fuel vehicles [4][6] - The X70L features advanced specifications such as a 32-variable electric seven-seat configuration and a 12-layer cloud seat design, providing a luxury experience comparable to vehicles priced at 400,000 yuan [6] Group 4: Sales Performance - The X70 series is a core driver for Jietu Motors, contributing to a total sales figure of 2 million units over 7 years, helping the brand to establish itself among mainstream competitors [7]