Core Viewpoint - The article emphasizes the transformation and development of the commercial vehicle industry in China over the past 20 years, highlighting the shift towards low-carbon and intelligent solutions as the industry prepares for new opportunities and challenges in the upcoming years [2][8]. Group 1: Industry Evolution - The commercial vehicle industry in China has undergone significant structural changes, moving from investment-driven expansion to a focus on efficiency and quality [2]. - The industry has transitioned from traditional fuel power to a diverse range of new energy technologies, reflecting the evolution from "Made in China" to "Intelligent Manufacturing in China" [2]. - The past two decades can be divided into two phases: a rapid development period and a period of adjustment and transformation, supported by policy guidance, technological innovation, and market competition [7][8]. Group 2: Energy Efficiency Focus - Energy efficiency remains a core concern for the commercial vehicle industry, directly impacting user value [10]. - The energy efficiency testing process has evolved from traditional fuel optimization to the application of clean energy sources, including electric, hybrid, and hydrogen technologies [12]. - In 2025, several models, such as the Ouman Galaxy 3 and Jianghuai New Energy Light Truck ES9, demonstrated significant advancements in energy consumption and management, setting new benchmarks for the industry [12][13]. Group 3: Service Satisfaction - The "Vehicle Enterprise Service Satisfaction Survey" has become a key focus for the industry, with digitalization and intelligence enhancing service capabilities [15]. - China National Heavy Duty Truck Group Co., Ltd. received high praise for its "family-like" service, establishing a new standard for service value in the industry [15]. Group 4: Future Outlook - The commercial vehicle industry is expected to face new opportunities and challenges as it embarks on a new journey starting in 2026, with a focus on achieving dual carbon goals and enhancing both quantity and quality [8][18]. - The media outlet aims to continue its role as an observer and leader in the industry, collaborating with logistics users to explore demand in the commercial vehicle sector [17][18].

Core Viewpoint - The Chery Commercial Vehicle 2026 Partner Conference aims to redefine the industry landscape through innovation and intelligence, focusing on the strategic vision of becoming the "global leader in new energy commercial vehicles" while enhancing collaboration with partners [4][15]. Group 1: Performance and Growth - In 2025, Chery Commercial Vehicles achieved a remarkable 67% year-on-year growth, reflecting strong market recognition and effective strategic planning [2][4]. Group 2: Technological Advancements - The company is upgrading its technology strategy by leveraging Chery Group's global R&D system, integrating core technologies such as intelligent networking, efficient new energy powertrains, and safety features to meet diverse user demands [6][8]. - Chery Commercial Vehicles is focusing on six core technology areas: intelligent driving, intelligent cabins, electric drive bridges, integrated controllers, vehicle networking, and design [6][8]. Group 3: Product and Market Strategy - The conference will showcase a complete value chain from product innovation to industrial ecology, covering six business segments: heavy-duty trucks, light-duty trucks, vans, unmanned vehicles, pickups, and buses, with a total of 75 exhibits [8][15]. - The event will highlight new product launches and solutions tailored for high-end logistics, urban delivery, and engineering construction [8][15]. Group 4: Ecosystem Development - Chery's ecosystem encompasses eight business scenarios, including leasing, used vehicles, vehicle networking, unmanned vehicles, services, spare parts, derivative businesses, and international operations, aiming to create a commercial value closed loop [13][15]. Group 5: Future Vision and Leadership - The conference will introduce Chery Commercial Vehicle's new leadership team, which aims for a sales target of one million units by 2030, focusing on product structure optimization, technological innovation, and global expansion [15][16]. - The event serves as a platform for exploring industry transformation opportunities and sustainable development, marking a significant milestone in defining the future direction of commercial vehicles [16].

Core Viewpoint - The signing of a memorandum of understanding (MOU) between Jinbei Automotive and E-Works Mobility GmbH aims to establish a collaborative framework for developing electric commercial vehicles, with a focus on enhancing market competitiveness in Germany and Europe [2][16]. Group 1: Basic Information of the MOU - The MOU was signed between Jinbei Automotive and E-Works, a leading German engineering and technology integrator in the electric light commercial vehicle sector [3][4]. - E-Works was established in 2017 and is based in Ismaning, Germany, with Dominik Ashkar as its authorized representative [3]. Group 2: Content of the MOU - The collaboration aims to leverage both parties' strengths to explore key segments of the electric light commercial vehicle industry, including the establishment of R&D centers in both China and Germany [9][10]. - The goal is to capture at least 10% market share in the European electric chassis and electric van sectors by 2040, positioning both companies as influential brands in the market [9]. Group 3: Rights and Obligations - The MOU reflects preliminary cooperation intentions and does not impose legally binding obligations on either party until a formal agreement is reached [14]. - The MOU will become effective upon signing and will remain valid for twelve months [15]. Group 4: Impact on the Company - This collaboration is expected to create a win-win model by combining Chinese manufacturing capabilities with European market integration, enhancing market share in Germany and Europe [16]. - The dual R&D center approach allows for efficient resource integration and rapid response to market opportunities, potentially overcoming barriers to entry in high-end markets [17].

Core Viewpoint - The collaboration between Jinbei Automotive and E-Works aims to establish a research and development center to enhance competitiveness in the electric light commercial vehicle market in Germany and Europe [1][2] Group 1: Partnership Details - Jinbei Automotive has signed a memorandum of understanding with E-Works Mobility GmbH to develop innovative and competitive electric commercial vehicles for the German market [1] - E-Works is recognized as a leading integrator in the German electric light commercial vehicle sector, with expertise in design, engineering, and market commercialization [1] Group 2: Strategic Goals - The partnership seeks to explore key segments of the electric light commercial vehicle industry chain through the establishment of R&D centers in both China and Germany [1] - The companies aim to capture a market share of 10% or more in the European electric chassis and electric van sectors by 2040, positioning themselves as influential brands in the European market [1] Group 3: Value Creation - The collaboration is designed to create a win-win model where Chinese technology and manufacturing support are combined with German market integration and certification [2] - The dual R&D center approach allows for efficient resource integration and rapid response to market opportunities in Europe, facilitating access to the high-potential electric light commercial vehicle market [2] - This partnership aims to establish a full value chain from joint definition and collaborative R&D to local production, overcoming traditional export barriers and fostering new growth opportunities [2]

证券之星消息，12月25日商用车板块较上一交易日上涨0.05%，曙光股份领涨。当日上证指数报收于 3959.62，上涨0.47%。深证成指报收于13531.41，上涨0.33%。商用车板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日商用车板块主力资金净流出3546.76万元，游资资金净流出2.0亿元，散户资金净 流入2.36亿元。商用车板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600418 江淮汽车 | | -5607.48万 | 3.13% | -1.46 Z | -8.14% | 9002.28万 | 5.02% | | 600686 金龙汽车 | | 2160.97万 | 10.52% | -1030.96万 | -5.02% | -1130.01万 | -5. ...

东风德纳在电动公交领域再放大招！ 日前，在第十四届上海国际客车展上，东风德纳以"睿享公交，共赢未来"为主题，重磅发 布了面向中运量公交市场的战略新品——EP12Max"能效王"电驱桥。让电动公交行业关于 效率的变革拉开帷幕。 深度聚焦电动公交运营场景 为高效运营"破局" 在客车领域，东风德纳拥有近40年的车桥研发经验。 早在1988年，东风德纳就推出了电瓶观光车用桥及无轨电车用桥；2012年，东风德纳推出 混合动力客车桥；2014年，东风德纳推出全系列纯电动客车驱动桥；2017年，东风德纳首 款同轴电驱桥EP6研发成功，并正式推向市场；2019年，东风德纳首款平行轴电驱桥EP5 研发成功并批量应用；2020年，东风德纳EP19C/EP13车桥研发成功并推向市场；2025 年，EP9D及EP12MAX电驱桥正式发布…… 可见，多年来，东风德纳始终致力于客车全场景解决方案，其同轴电驱桥、平行轴电驱桥、 分布式电驱桥及低地板客车桥等产品，更是持续引领行业技术变革。 现如今，随着公交客车新能源化的大规模普及，东风德纳更是打造了适配新能源公交客运全 场景运营的电机集成驱动桥产品，并形成了单电机、单电机+AMT、双电机+ ...

Core Viewpoint - The article emphasizes the dual focus on "new energy" and "internationalization" as key trends in the commercial vehicle industry, highlighting the strategic shift of Chinese companies like Supao Technology towards green and intelligent transformation while expanding into overseas markets [1][3]. Group 1: Strategic Initiatives - Supao Technology launched the "2025-2030 Dual-Track Empowerment Globalization Strategy," which aims to promote the global transition of commercial vehicles towards new energy and intelligence through "industrial empowerment" and "product empowerment" [3][4]. - The eTOPAS 600, a locally developed model for the European market, exemplifies this strategy, showcasing collaboration with Austria's Steyr Automotive to integrate Chinese manufacturing with European craftsmanship [4][7]. Group 2: Product Performance - The eTOPAS 600 is a 4×2 pure electric tractor designed for European logistics, featuring a 621 kWh lithium iron phosphate battery with a range of approximately 500 kilometers and a peak power of 692 kW [7][9]. - Rigorous joint road tests in Central Europe demonstrated the eTOPAS 600's reliability and efficiency, leading to hundreds of pre-orders from major European logistics and retail companies before its official launch [9][15]. Group 3: Ecosystem Development - Supao Technology's globalization efforts are supported by strategic partnerships, including collaboration with TÜV Nord for efficient certification processes and with Karl Power for developing L4 autonomous electric trucks [10][12]. - The company has partnered with Alltrucks for service and maintenance across over 650 locations in Europe and with ELMI Power for high-reliability charging solutions, addressing infrastructure challenges for electric heavy trucks [12][14]. Group 4: Market Position and Financing - In 2025, Supao Technology secured several hundred million yuan in strategic financing, totaling over 1 billion yuan for the year, and was recognized in the "2025 China New Unicorn Rankings," affirming its technological capabilities and business model [14][15]. - The company achieved a significant breakthrough in the European market, demonstrating a new potential for overseas expansion in the context of the irreversible trend towards new energy in global commercial vehicles [15].

Core Viewpoint - The electric heavy truck market in China is expected to experience a significant turning point by 2025, with penetration rates rising from less than 10% to nearly 30%, driven by policy support and the economic logic of electric trucks [1] Group 1: Market Dynamics - The city of Chongqing, as a major transportation hub and manufacturing center in the west, has a substantial demand for freight transport, with approximately 220,000 operational trucks, including 120,000 heavy trucks, indicating a vast potential for electrification [3] - The geographical and industrial characteristics of Chongqing provide rich scenarios for electric heavy trucks, from short-distance transport at ports to internal transfers within industrial parks [3][4] Group 2: Challenges and Solutions - Electric heavy trucks face challenges such as inefficient charging times, high operational costs, and interoperability issues among different brands, which cannot be solved by manufacturers or operators alone [5] - Chongqing has adopted an "ecological co-construction" approach to address these challenges, with a three-year plan to establish over 100 supercharging stations and promote more than 1,500 electric heavy trucks by 2028 [5] Group 3: Technological Advancements - Huawei's all-liquid cooling supercharging technology allows for rapid charging, achieving a 15-minute charge for 300 kWh from 20% to 80% state of charge, significantly increasing operational efficiency for heavy trucks [6][7] - The technology supports a maximum output of 2,400A and can enhance vehicle turnover rates by 15% or more, translating to additional annual revenue of over 150,000 yuan per vehicle [7][9] Group 4: Infrastructure Development - The first batch of megawatt-level supercharging stations has been launched in Chongqing, marking a critical step in building a comprehensive charging network for heavy trucks [1][5] - The "Hua Yu Zhi Lian" electric heavy truck supercharging operation platform has been developed to integrate charging scheduling, vehicle-matching, energy management, and supply chain services, facilitating a fully digitalized logistics chain [10][11] Group 5: Future Outlook - By 2028, Chongqing aims to establish a robust charging network that supports the electrification of logistics, with a focus on high standards in planning, construction, and operation [11] - The integration of megawatt supercharging standards and the promotion of a green energy model are expected to lower the total lifecycle costs of electric heavy trucks, driving the industry towards a fully electric future [11][12]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600686 | 金龙汽车 | 16.50 | -3.62% | 24.24万 | | 26663 | | 000868 | 安凯客车 | 4.90 | -2.78% | 14.46万 | | 7150.25万 | | 600303 | 曙光股份 | 3.28 | -2.67% | 17.53万 | | 5776.78万 | | 000951 | 中国車汽 | 16.82 | -1.64% | 14.19万 | | 2.40亿 | | 600375 | 汉马科技 | 6.02 | -1.47% | 19.61万 | | 1.18亿 | | 600006 | 东风股份 | 7.18 | -1.37% | 15.38万 | | 1.11亿 | | 000800 | 一汽解放 | 6.80 | -1.16% | 12.42万 | | 8481.22万 | | 600166 | 福田汽车 | 2.91 | -1.02% | 133.31万 ...

Group 1 - In November 2025, the retail sales of new energy commercial vehicles reached 92,100 units, representing a year-on-year increase of 45.54% and a month-on-month increase of 15.46% [2][1] - 96.66% of the sales were from pure electric commercial vehicles, totaling 89,000 units, which is a year-on-year increase of 45.98% [2] - The top five companies/brands accounted for 33.76% of the total sales, including Geely, Foton, XCMG, FAW Jiefang, and SAIC Wuling [4] Group 2 - From January to November 2025, the cumulative retail sales of new energy commercial vehicles reached 769,200 units, with a year-on-year growth of 54.31% [8] - 96.63% of the cumulative sales were from pure electric commercial vehicles, amounting to 743,200 units, which is a year-on-year increase of 55.14% [8] - The cumulative sales of new energy trucks were 475,400 units, accounting for 61.81% of total sales, with a year-on-year growth of 88.47% [10] - The cumulative sales of new energy buses were 293,700 units, representing 38.19% of total sales, with a year-on-year increase of 19.31% [10] - The top five companies/brands accounted for 36.84% of the cumulative sales, including Geely, Foton, SAIC Wuling, XCMG, and Shaanxi Automobile [13]