Core Viewpoint - Nissan is reintroducing the LEAF as a compact SUV with significant improvements in range and charging efficiency, aiming to regain its presence in the competitive EV market [1][2]. Group 1: Product Overview - The third-generation LEAF features a range increase of 30%, exceeding 600 kilometers, making it one of the best in the world [1][2]. - The new LEAF can be charged to meet daily usage needs in just 35 minutes [3]. - Nissan plans to sell the new LEAF in the U.S. starting in fall 2025, followed by Japan and Europe [2]. Group 2: Market Positioning - The LEAF is positioned as a standard vehicle within Nissan's EV lineup, alongside other models like the "Sakura" and "ARIYA" [2]. - The shift from a hatchback to a compact SUV format is expected to enhance consumer appeal, as SUVs are increasingly popular globally [2]. Group 3: Competitive Landscape - The new LEAF's range surpasses competitors like BYD's "ATTO3" and Volkswagen's "ID.3," which both have ranges below 600 kilometers [2]. - The first-generation LEAF was a market leader, but Nissan has fallen behind competitors like BYD and Tesla in price and performance [4]. Group 4: Strategic Challenges - Nissan's recent operational restructuring includes significant personnel adjustments and the abandonment of plans to build a domestic battery factory in Japan, which could impact cost competitiveness [4]. - The pricing strategy for the new LEAF remains a key focus, with Nissan aiming for competitive pricing while ensuring profitability [4].

丰田及本田等正在使用AI的自动驾驶技术上展开合作。各家企业为了确保安全性，将共同努力构 建AI基础设施和培养人才。日本政府支持合作体制的建设，还对相关中小企业进行援助，以推动 零部件的国产化…… 为了推动普及，计划利用中央政府部门的公用车进行AI自动驾驶的验证。现有的自动驾驶技术已 在高速公路上进行了卡车的驾驶验证，但在将其扩展到普通公路时，将考虑运用AI技术。 丰田及本田等日本国内主要厂商正在使用人工智能（AI）的自动驾驶技术上展开合作。各家企业 为了确保安全性，将共同努力构建AI基础设施和培养人才。日本政府支持合作体制的建设。还开 始对相关中小企业进行援助，以推动零部件的国产化。 在基于AI的自动驾驶中，AI通过车辆上配备的摄像头和传感器识别周围的人和障碍物，并掌控方 向盘。美国和中国在此领域处于领先地位，有的企业在AI技术开发上投入了相当于数千亿到1万 亿日元的资金，推动自动驾驶模型的升级。 与按照地图信息进行操作的现有自动驾驶相比，AI自动驾驶有望实现更顺畅的行驶。能够减少摄 像头和传感器的数量，还可以降低每辆车的平均成本。 另一方面，AI基础设施的建设被认为难以单独完成，费用也相当高。有声音指出在遭 ...

Group 1 - The automotive steering system is gradually transitioning from EPS to steer-by-wire technology, which offers better responsiveness, enhanced autonomous driving capabilities, and improved emergency steering safety [1] - The steer-by-wire system is essential for L3+ autonomous driving, with significant advancements since its first mass production application in the 2013 Infiniti Q50 [1] - The company is experiencing a recovery in its main business profitability and is building a comprehensive steer-by-wire chassis product portfolio, integrating trends such as electrification, automation, and software-defined vehicles [1] Group 2 - The company's net profit margin has significantly improved, with a projected net profit of $61.72 million in 2024, a 68.1% increase from $36.74 million in 2023 [2] - The company secured project orders totaling $6 billion in 2024, with 31% from new business, including multiple steer-by-wire orders, showcasing its strong competitiveness [2] - The company plans to strategically expand into the steer-by-wire chassis field with the release of rear-wheel steering (RWS) and electronic mechanical brake (EMB) systems in the first half of 2025, further enhancing future growth potential [2] Group 3 - The company is forecasted to achieve revenues of $4.469 billion, $4.772 billion, and $5.068 billion from FY2025 to FY2027, with year-on-year growth rates of 4.5%, 6.8%, and 6.2% respectively [2] - The projected net profit for the same period is $121 million, $162 million, and $186 million, reflecting growth rates of 96.2%, 34.1%, and 14.4% respectively [2] - Given the rapid profit growth phase, the company has a target price of HKD 7.61 per share, indicating a 24% upside potential from the current price, with a corresponding FY2025E PE of approximately 19 times [2]

Core Viewpoint - Toyota is enhancing consumer choice and revenue by allowing post-installation of advanced safety features in vehicles, starting with new models launched after fall 2025 [1][2]. Group 1: Post-Installation Features - Consumers can pay extra to install advanced safety devices after vehicle delivery, increasing options and revenue per vehicle [1]. - The new models will support this practice, addressing the shrinking domestic market in Japan due to population decline [1]. Group 2: Comparison with Competitors - Tesla, as a software-defined vehicle (SDV) provider, offers paid updates for autonomous driving features, which Toyota aims to emulate while also enhancing hardware capabilities [1]. Group 3: Types of Optional Features - There are two types of optional features in Japanese cars: manufacturer-installed options and dealer-installed options, with the former being limited to new vehicles due to electrical system considerations [1]. Group 4: Future Upgrades - Toyota plans to allow post-installation of systems that utilize high-performance cameras and radar for obstacle detection, with designs accommodating future upgrades [1].