Core Viewpoint - The strategic transformation of multinational automotive companies in China is revitalizing joint ventures, focusing on local R&D and adapting to the fast-paced development of electric vehicles and smart technologies [3][4][5]. Group 1: Investment and R&D Focus - Nearly 70% of surveyed multinational automotive companies plan to increase investments in China by 2025, with over 78% focusing on R&D [3]. - Mercedes-Benz has invested over 10.5 billion yuan in R&D in China over the past five years, emphasizing electric and intelligent vehicle development [4]. - BMW's R&D investment reached a record high of 9 billion euros in 2023, concentrating on new product architectures and battery technology [5]. Group 2: Localized Decision-Making - The shift from "headquarters-led" to "China-first" R&D models allows local teams to have greater decision-making power, significantly reducing development cycles [6][7]. - Nissan's Chinese R&D team now leads vehicle development, shortening the development cycle to 24 months [7]. - Toyota is transitioning decision-making authority for new models from Japan to its Chinese R&D center, enhancing responsiveness to local market needs [7]. Group 3: Strategic Partnerships and Collaborations - Mercedes-Benz plans to invest an additional 14 billion yuan in China, focusing on local partnerships to enhance R&D capabilities [9]. - Nissan is collaborating with Chinese tech companies like Huawei and Momenta to improve its smart driving technologies, with a planned investment of 10 billion yuan over the next two years [10]. - GAC Toyota is partnering with leading tech firms to develop AI ecosystems for smarter vehicle functionalities [10]. Group 4: Market Performance and Adaptation - SAIC Volkswagen's sales reached 523,000 units in the first half of the year, with a 2.3% year-on-year increase, driven by the integration of smart features in traditional vehicles [6]. - Dongfeng Nissan's sales were 530,000 units in the first half, reflecting a 0.3% increase, attributed to its R&D strategy and local team empowerment [7]. - General Motors has turned profitable in the Chinese market, with a 7.6% increase in sales in June, largely due to its accelerated electrification strategy [8].

Core Viewpoint - The mainstream joint venture automakers have shown a strong recovery in sales during the first half of the year, with notable growth in companies like FAW Toyota and SAIC Volkswagen, driven by the effectiveness of their "oil-electric integration" strategy [1][2]. Sales Performance - FAW Toyota sold 377,800 vehicles, a year-on-year increase of 16% - FAW-Volkswagen sold 436,100 vehicles, up 3.5% year-on-year - SAIC Volkswagen's sales reached 523,000 vehicles, a 2.3% increase - SAIC General sold 245,100 vehicles, marking an 8.64% growth - GAC Toyota achieved a total sales of 364,200 vehicles, showing positive growth [2]. Strategic Initiatives - The "oil-electric integration" strategy has helped stabilize the core market for fuel vehicles while accelerating the launch of competitive electric products [2][5]. - FAW-Volkswagen has implemented a three-step intelligent driving roadmap for fuel vehicles, aiming to enhance their competitiveness [3]. - GAC Toyota's flagship fuel vehicles, including Camry and Highlander, saw a total sales increase of 30% in the first half of the year [3]. Localization and R&D - Joint venture automakers are shifting their strategies from global technology import to local market dominance, with a focus on localized R&D [5][6]. - FAW Toyota's "RCE system" allows for localized decision-making and development, resulting in strong demand for the bZ5 electric model [5]. - Volkswagen aims to enhance its R&D capabilities in China, planning to launch over 11 new models by 2026 [6]. Marketing Strategies - The "one-price" marketing strategy has been widely adopted among joint venture automakers, enhancing sales through price transparency and significant discounts [8][9]. - This strategy simplifies the purchasing process and directly competes with new energy vehicle brands by offering substantial price reductions [9][10]. - The shift to a "one-price" model has improved consumer experience by eliminating uncertainties in pricing and enhancing service quality from dealers [10].

Market Dynamics - The electric and intelligent transformation is reshaping the automotive market, with Chinese brands achieving a record market share of 68.8% in the first five months of this year, while joint venture brands dropped to a historic low of 31.2% [2] - The rapid rise of the domestic new energy vehicle market and increasing consumer demand for electrification and intelligence are pressing joint venture brands to accelerate their transformation to keep pace with "Chinese speed" [2] R&D Transformation - Dongfeng Nissan's N7 model, launched under the "GLOCAL" strategy, has achieved over 20,000 orders and 6,000 deliveries within 50 days, showcasing its competitive pricing and comfort [3] - Nissan plans to invest 10 billion yuan in electric vehicle R&D over the next two years to accelerate technology iteration and product deployment [3] - Toyota is shifting development decision-making authority for Chinese models from Japan to China, enhancing responsiveness to local market needs [4] - Nearly 70% of surveyed multinational automotive companies plan to increase investments in China post-2025, focusing on R&D [4][5] Marketing Innovations - Mercedes-Benz has established a new digital and communication department to adapt to changing market challenges and customer expectations [6] - BMW is collaborating with ByteDance's cloud service platform to enhance AI applications in automotive marketing, aiming to improve user experience and dealer efficiency [6] - Traditional sales models in joint venture automotive companies are being reformed to improve transparency and efficiency, with a focus on user-centered approaches [7] Local Ecosystem Integration - BMW is deepening its localization strategy by partnering with leading Chinese tech companies to enhance its electric and intelligent vehicle offerings [8] - The automotive supply chain is evolving from a traditional linear model to a more open and integrated network structure, enhancing collaboration between multinational companies and local suppliers [9] - General Motors is upgrading its strategy in China from "in China, for China" to "in China, for the world," reflecting the changing dynamics of the automotive market [10]