Core Insights - The sales momentum of new energy vehicles (NEVs) remains strong in the first half of the year, with significant improvements in various technical aspects such as power structure, range, and battery energy density [1][2][4] Group 1: Sales and Market Trends - In June, the wholesale sales of new energy passenger vehicles reached 1.26 million units, a year-on-year increase of 29%, with a total of 6.47 million units sold in the first half of the year, marking a 38% year-on-year growth [2] - The number of new energy vehicle models in the tax exemption directory for 2025 is 2,533, which is fewer compared to previous years, indicating a stable technical upgrade in exempt models [2][3] Group 2: Technical Developments - The majority of new pure electric passenger vehicles launched this year have a range exceeding 600 kilometers, with a notable increase in high-energy density battery products [2][4] - The market for short-range products is diminishing, while the demand for low-speed electric vehicles remains significant, suggesting potential growth in this segment [6] Group 3: Product Differentiation - Hydrogen fuel commercial vehicles have gained traction due to substantial subsidies, surpassing plug-in hybrids in the number of models submitted for approval [3] - The new models of plug-in hybrids are primarily focused on higher mileage, with most having a range of 100-200 kilometers, while range-extended vehicles are also seeing rapid growth [7] Group 4: Cost and Performance Considerations - The industry is shifting from merely competing on data to a more pragmatic approach, with manufacturers focusing on safety, cost, and overall performance of new models [8] - The effective control of battery costs has allowed manufacturers to offer vehicles with high ranges (500-600 kilometers) at lower price points, enhancing market accessibility [8]