摘要 兆瓦级超充竞赛升温：技术突破，还是资本游戏？ 在 5-6C 超快充技术步入规模化应用阶段的当下，国内电动汽车补能技术的发展却已呈现出向更 高功率等级演进的趋势。 近期，包括宁德时代、华为、比亚迪在内的行业主要参与者相继发布了 "兆瓦级"充电解决方案， 宣称功率高达 1 兆瓦乃至 1.5 兆瓦，远超当前主流水平。 这一动向表明，相关企业正着眼于下一代大功率充电基础设施的布局，以期满足未来潜在的市场需 求，尤其是在商用车电动化等领域。 尽管目标功率宏大，但目前公布的兆瓦级方案在技术实现路径和初期市场策略上已显现出差异。例 如，基于现有信息，不同方案在实际可达到的充电倍率上有所不同。 同时，在优先应用场景的选择上，华为初步聚焦于商用重卡，而比亚迪则率先将其应用于高端乘用 车，并计划建设配套的专属充电网络。 这些不同的策略选择，引发了市场对于兆瓦级充电技术当前阶段的成熟度、经济可行性以及不同细 分市场推广路径的关注与评估。 兆瓦级充电获密集发布，技术、应用现分野 "兆瓦级"充电，即大功率超充，其实现依赖于高电压与大电流技术的协同突破。这并非单一环节 的革新，而是一个涵盖车辆高电压平台、高性能电池以及大功率充电桩 ...

Core Viewpoint - BYD's recent advancements in "super e platform" and "megawatt flash charging" technology are set to revolutionize the electric vehicle charging landscape, addressing key challenges in charging speed and infrastructure [2][3][22]. Group 1: Business Performance - BYD's 2024 annual report shows impressive financial growth, with revenue reaching 777.1 billion yuan, a 29% increase year-on-year, surpassing Tesla's revenue of 702.2 billion yuan [8]. - The net profit for BYD in 2024 was 40.254 billion yuan, reflecting a 34% year-on-year growth, indicating continuous improvement in profitability [8]. Group 2: Technological Breakthroughs - The "megawatt flash charging" technology allows for a charging time of just 5 minutes to achieve a range of 400 kilometers, marking a significant advancement in charging speed comparable to traditional fuel refueling [3][19]. - The supporting storage system for the megawatt flash charging stations features an innovative architecture of "1 main unit + 1 storage cabinet," with a storage capacity of 225 kWh and a maximum output power of 800 kW, which can surge to 1360 kW when working with the grid [4][9]. Group 3: Strategic Infrastructure Development - BYD plans to establish over 4,000 megawatt flash charging stations across the country, a strategic move to enhance its charging infrastructure and reduce reliance on third-party charging facilities [10][19]. - The integration of storage systems in these charging stations is expected to optimize operational costs and create new application scenarios for BYD's storage capacity, promoting further growth [10][14]. Group 4: Industry Impact - The introduction of BYD's megawatt flash charging technology is anticipated to trigger a chain reaction in the industry, encouraging other companies to accelerate the installation of similar charging systems [10][17]. - The shift towards storage-enabled charging stations is expected to alleviate grid pressure and meet high-power charging demands, potentially transforming the electric vehicle charging landscape into a mainstream trend [18][21]. Group 5: Market Outlook - The barriers to the commercial development of storage charging have been addressed, paving the way for a new era in the industry, with BYD's initiatives likely marking 2024 as the true beginning of the "storage charging" era [19][22].

Group 1 - NIO's founder Li Bin responded to concerns about the company's spending, stating that approximately 60 billion yuan has been invested in R&D, management, and battery swap networks [5][6] - In 2024, NIO's total R&D investment is projected to be 13.037 billion yuan, with Q4 investment at 3.64 billion yuan, aimed at enhancing user experience and product competitiveness [5] - NIO delivered 221,970 vehicles in 2024, a year-on-year increase of 38.7%, with revenue reaching 65.73 billion yuan, up 18.2% [6] Group 2 - Zhu Xiaohu announced his exit from the humanoid robot project due to unclear commercialization, having previously exited two notable humanoid robot companies [8][9] - The CEO of Zhongqing Robotics criticized Zhu for his short-term investment approach, suggesting that the humanoid robot sector will eventually yield significant companies [9] Group 3 - Taobao Buy Vegetables is transitioning from community group buying to a home delivery model, ceasing local supply chain operations [12] - The new model will focus on direct shipping from farms, with operations managed by Shanghai Caicai Supermarket Co., Ltd., which is fully owned by Alibaba [12] Group 4 - Midea Group has completely divested its holdings in Xiaomi stocks, cashing out nearly 2 billion yuan, with a total revenue of 407.1 billion yuan in 2024, a 9.43% increase [13] - Midea's net profit for 2024 reached 38.5 billion yuan, up 14.28%, with operating cash flow increasing by 4.51% to 60.5 billion yuan [13] Group 5 - TSMC's former executive Jiang Shangyi criticized Intel, suggesting it has become a "nobody" in the chip industry and should merge with a mature chip technology company [15][16] - Jiang emphasized that Intel should focus on mature manufacturing processes rather than competing with TSMC in advanced nodes [16] Group 6 - Douyin's president revealed the platform's recommendation algorithm, which now relies on predicting user behavior probabilities rather than content tagging [17] - The algorithm uses neural network calculations to forecast user interactions, marking a significant shift in recommendation technology [17] Group 7 - Audi plans to integrate Huawei's intelligent driving system into its new models, including the Q5L and A5L, set to launch in 2025 [19] - The new models will feature advanced sensor technology and support for continuous upgrades via OTA [19] Group 8 - Manus AI is negotiating a new funding round with a valuation of at least 5 billion USD, reflecting a fivefold increase [20] - The company has seen significant interest from U.S. investors despite challenges faced by Chinese AI products in the U.S. market [20] Group 9 - BYD's public relations manager emphasized the importance of responsible marketing and innovation in the automotive industry, rejecting exaggerated claims and competitive undermining [21][22] - The company aims to maintain a clear and honest communication strategy while addressing market challenges [22] Group 10 - TikTok's U.S. e-commerce team is facing pressure from Chinese executives due to underperformance, leading to significant personnel adjustments [31][32] - The company has set ambitious growth targets for its U.S. e-commerce operations, aiming for nearly 200% growth this year [31]

Core Viewpoint - The Chinese electric vehicle (EV) industry has made significant progress in technology, products, and supply chain, leading the global market by three to five years according to BYD's chairman Wang Chuanfu [1] Group 1: Technological Innovation - Technological innovation is a key factor for China's global leadership in the EV sector, with BYD achieving breakthroughs in battery technology and autonomous driving [2] - BYD's blade battery technology enhances safety, energy density, and reduces production costs, supporting the widespread adoption of EVs [2] - The rapid transformation in smart technology is expected to occur within two to three years, similar to the shift from feature phones to smartphones [2] Group 2: Product Competitiveness - China's EVs have gained international recognition, with exports surpassing 5 million units in 2024, maintaining the top position globally [3] - The combination of high cost-performance ratio and advanced technology makes Chinese EVs competitive in the global market [3] - BYD's models excel in range and smart driving assistance while remaining reasonably priced, enhancing their global competitiveness [3] Group 3: Supply Chain Advantages - China possesses a complete EV supply chain, from core components like batteries and motors to vehicle manufacturing, which strengthens production capacity [4] - This comprehensive supply chain reduces production costs and improves efficiency and product quality [4] - BYD's self-sufficiency in core components through innovation enhances product performance and reduces reliance on external suppliers [4] Group 4: Global Opportunities - The leading position of Chinese EVs presents opportunities for global development, emphasizing open innovation and higher levels of green technology [5] - Chinese EV companies are encouraged to strengthen partnerships with international collaborators to achieve complementary advantages [5] - BYD's strategy includes not only product sales but also establishing local production bases abroad to promote technology transfer and brand building [5] Group 5: Challenges and Future Outlook - Despite significant achievements, the Chinese EV industry faces challenges such as increasing global competition and rapid developments in other regions [6] - International trade tensions and policy changes may impact EV exports [6] - Wang Chuanfu expresses confidence in the industry's future, believing that continued technological innovation and open cooperation will maintain China's leading position in the global green transition [6]

3月29日，蔚来创始人、董事长、CEO李斌在中国电动汽车百人会论坛（2025）上接受21世纪经济报道 等媒体采访时回应港股配资："本次港股配售在一天之内完成，有许多蔚来的长期投资人继续投资，整 个市场反应非常好。" 根据公告，蔚来此次募资用途主要是技术和新产品的研发、增强现金储备等。 "如果看研发投入和营收的比例，我相信蔚来应该是全球最高的汽车公司之一。"李斌表示。在他看来， 蔚来对两件事很坚决，一是研发，另一件事是充换电网络。 财报显示，2024年蔚来研发投入达130.37亿元，占营收的19.8%。相较之下，特斯拉研发占比是20.5%， 比亚迪是6.7%，理想是10.6%，这也导致蔚来处于巨额亏损当中。 但在李斌看来，"如果在种种子的时候就说怎么还不长出来，确确实实急了一点。"他认为，在换电、研 发等方面，蔚来做了很多傻事，为的是提升用户的体验。 但蔚来的研发投入"今年就能看到效果"，ET9是第一辆车，今天正式交付，蔚来今年一共会发9款新 车。新车之外，蔚来会继续降本，计划于今年 4 季度实现盈利目标。 从"打地基"，到"开放" 蔚来计划于今年 4 季度实现盈利目标。 进入3月，继比亚迪（002594）、小 ...

近期港股纷纷宣布配售，继比亚迪、小米之后，蔚来也宣布开启配售。 3月27日，蔚来宣布开启港股"闪电"配售，拟以每股29.46港元的价格配售股份，发行不超过1.1879亿股 A类普通股。这一配售价格较其港股最新收盘价折让约9.5%，蔚来周四收于32.550港元/股。 此外，2024年是公司扩张期，除主品牌及换电、服务体系的扩张外，蔚来还接连推出了乐道、萤火虫， 多品牌战略之下必将增加研发与渠道的投入。 从以上两点因素来看，股票配售能够为企业迅速筹集资金，蔚来本次配售融资有一定合理性。 港股配售潮来了，比亚迪、小米规模最大 值得一提的是，配售作为一种常见的再融资手段，在电动汽车行业竞争愈发激烈的背景下，比亚迪、小 米先后宣布配售。 本月初，比亚迪宣布以每股335.2港元的价格配售近1.3亿股H股，净筹资433.83亿港元，用于提升技术 实力、提速出海进程和补充运营资金，并期望通过引入新股东进一步丰富其股东基础。 比亚迪此次H股闪电配售，是全球汽车行业有史来规模最大的股权再融资项目，也是香港市场有史以来 规模第二大的闪电配售项目。花旗银行的一份研报指出，比亚迪的配售将进一步推动其海外资产和工厂 建设，显示出国际资本 ...

1、 前捷威动力核心团队入驻LG新能源 2、 六家锂电企业IPO更新！ 3、 宁德时代在重庆成立电池公司 4、 第七届起点钠电论坛明日3.28深圳举办 KUUI GRUUP 512 · 18 | LA 97 G 广播报道 EAST 品事特 第十188年 | 股票+ 300376 国科炭美 CARMERY 型 乌萨尔 成在济合作局 batthoux dynamics 泰和 的电视 宝 地 资 产 BAOLAND ( 码上参会 77 Va the ♪ 上个月，印度承诺避免贸易保护主义。为此，印度削减了包括高端摩托车在内的近30种商品的 进口关税，并且表示将对豪华汽车的附加费展开评估。 本月早些时候，有媒体报道称，随着特斯拉即将进入印度市场，美国希望印度在两国拟议的贸 易协议下取消汽车进口关税，但印度即便考虑进一步降低关税，也不愿立即将汽车进口关税降 为零。当时，有知情人士称，美国对印度取消汽车进口关税的期望"比其他任何方面都更为明 确"，而印度"正在听取美国的意见"，并未予以反驳。 （ 来源：国际能源网、综合报道 ） 据路透社报道， 3月25日，印度政府官员表示，该国政府将不再对用于制造电动汽车电池和手 机的数十 ...

编 译 / 钱亚光 设 计 / s h e l l y 来 源 / w w w. Insideevs.com, www.carscoops.com，www.thedrive.com 在全球电动车市场中，65% 的消费者认为 "驾驶乐趣缺失" 是最大痛点。 福特于3月20日公布的最新专利申请，展示了电动汽车手动变速器的细节。福特专利工程师表 示："我们希望通过物理交互增强驾驶沉浸感，尤其是吸引仍对传统机械结构有情怀的用户。" 虽然福特电动车卖得不好，但时至今日依然在电动车身上能找到燃油车的乐子，实属难得，福特的 手动模拟换挡杆能否成为下一个 "网红配置"，或许将在2026年量产车型上揭晓答案。 这份2023年申请的蓝色椭圆（Blue Oval）汽车专利文件，描述了一种手动换挡装置，能在没有手动 变速器的电动汽车中模拟手动变速器的功能。复古式换挡杆会安装在变速器通道内，并通过机械联 动装置与6速变速器相连。 文件披露内容主要涉及该系统中驾驶员能够直接操作的部分，比如换挡杆本身以及控制它的物理机 制，而非更深层次的软件后端部分，后者负责将换挡杆的行为与动力传动系统的当前状态相联系。 专利文件显示，系统可支持两种模式 ...

Group 1 - Tesla's stock has dropped 43% since reaching an all-time high, yet it remains one of the most highly valued stocks in the current market environment [1][2] - The current market cycle is characterized by investor sentiment and capital availability, with a long bull market that began in March 2009 [1][2] - The stock market's cyclical nature makes it difficult to predict downturns, but experienced investors can sense the current stage of the cycle [2][3] Group 2 - Tesla's current price-to-earnings (P/E) ratio is 115, indicating that it is overvalued and may not sustain long-term growth [5][8] - Total automotive revenues for Tesla have shown a decline of 6% year-over-year, while total revenues have only increased by 1% in the last fiscal year [6][7] - Free cash flow and net profit have decreased by over 50% compared to previous years, highlighting increasing competition in the electric vehicle market [7][8] Group 3 - Tesla's market share in Europe has dropped significantly, with sales falling by 42.6% year-over-year, indicating challenges in maintaining growth [8] - The company faces risks from Elon Musk's diversions to other ventures, which may impact Tesla's focus and performance [7][10] - The automotive industry is characterized by high capital intensity and cyclical demand, making it a challenging environment for long-term investment [7][10] Group 4 - Historical examples, such as Amazon and Microsoft, illustrate that high P/E ratios do not guarantee investor returns, as many investors suffered significant losses during market corrections [9][10] - The future potential of Tesla's innovations, such as autonomous driving and robotics, remains uncertain, with profitability being the key concern [10] - The automotive sector is highly competitive and capital-intensive, suggesting that now may be a prudent time to exit investments in Tesla [10]

以下文章来源于环球人物 ，作者金台环环 环球人物 . 以人物记录时代，中国的时代 作者：尹洁 于冰 编辑：淙淙 来源：环球人物（ID：globalpeople2006） 李在镕笑了。 3月22日，在小米汽车工厂里，他站在雷军身边，笑得挺委婉。 网友纷纷评论："在韩国，李在镕可是不苟言笑啊！""当年雷军给三星赔笑道歉，现在反过来 了！" 事实上，韩国第一财阀、三星集团掌门人李在镕这趟来中国，可不只对着雷军笑，而是全程微笑 脸。 01 "三星面临生死存亡" 访问小米汽车工厂只是李在镕此次中国行的一部分。 3月23日，他参加了在北京开幕的中国发展高层论坛，与他同场参会的，是来自全球的竞争对手 们；3月24日，他又跑到深圳，参观了比亚迪集团总部。 据知情人士透露，从上月末开始，三星集团组织2000多名高管培训，主题是战略转型。李在镕虽 然没有露面，却传达了自己的指示——他认为三星集团已失去内生动力，面临着生死存亡的考 验，号召管理层抱着"向死而生"的觉悟，在危机中自救。 李在镕的危机感从何而来？ 财经评论员崔传刚对环球人物记者表示："尽管三星集团的整体营收情况尚可，但在关键业务上的 进展不及预期，增长乏力。尤其是半导 ...