编前：2025年，是汽车行业新旧动能转换的关键一年，市场"无形之手"和政府"有形之手"各展所 长、形成合力，推动中国汽车在国内国外两大市场再攀高峰。复盘2025，我们在市场规模、新能源汽 车、商用车等多个领域取得新突破，印证了中国汽车的韧性与潜能。 但也要清醒地认识到，内外部挑战依然严峻，如国际贸易摩擦增加、"卡脖子"技术瓶颈待解、"反 内卷"任务艰巨……当然，解决这些问题的过程也是创造和发现机会的过程。本文通过10组数据，复盘 中国汽车的2025。 11月，我国汽车出口72.8万辆，环比增长9.3％，同比增长48.5％，为历史上首次超过70万辆；1～ 11月，汽车出口634.3万辆，同比增长18.7％，全年有望冲击700万辆的历史新高。随着国内市场增速放 缓，企业加码出口战略，"不出海就出局"成为共识。 04 新能源乘用车份额逼近60％ 11月，新能源汽车销售182.3万辆，同比增长20％，占比53.2％。其中，新能源乘用车份额稳步攀 升，达到59.3％。从发展趋势来看，国内汽车市场将进入高销量、低增长周期，预计2026年新能源汽车 销量（含出口）有望达到2000万辆，保有量占比将达到15％。 05 L2级 ...

南方财经12月15日电，在今日比亚迪海洋四周年OceanDay用户盛典上，海洋网总经理张卓表示，海洋8 系双旗舰车型命名为海豹08与海狮08，新车将搭载兆瓦闪充技术，预计将于2026年第一季度正式亮相。 比亚迪介绍，海洋网成立四年累计销量突破600万辆，超600万"海粉"从车主变身品牌共创者，秉持初心 共赴绿色征程。 ...

Core Insights - BYD achieved sales of over 480,000 vehicles in November 2025, with overseas sales exceeding 130,000, marking record highs for both domestic and international sales in the year [1] - Cumulatively, BYD sold over 4.18 million vehicles from January to November 2025, solidifying its position as a leader in the global electric vehicle market and making the annual sales target of 4.6 million highly attainable [1] Technological Leadership - BYD is not only a leader in electric vehicle sales but also in technology innovation, having pioneered many features that are now standard in the industry [1] - The company introduced remote vehicle control features in 2011, which are now common across many electric vehicles [1] - In 2012, BYD launched remote driving capabilities, evolving to smartphone control, which has since been adopted by other brands [1] - BYD's bidirectional charging technology (VtoL) was first introduced in 2013 and is now widely available in many electric vehicles [1] R&D Investment - From 2011 to 2024, BYD has spent over 210 billion yuan on R&D, with 13 out of 14 years seeing R&D expenditures exceed annual net profits [3] - In 2019, despite a low net profit of 1.6 billion yuan, BYD invested 8.4 billion yuan in R&D, laying the groundwork for future innovations like blade batteries and DM-i technology [3] - In the first three quarters of this year, BYD's R&D investment reached 43.75 billion yuan, a 31% increase year-on-year, significantly surpassing its net profit of 23.33 billion yuan [3] Industry Perception - A decade ago, BYD was not taken seriously by competitors, but its current market presence is undeniable, with competitors now viewing BYD as a benchmark [4] - The shift in perception from skepticism to emulation highlights BYD's role in setting industry standards [4]

其中，比亚迪乘用车1-11月累计销量413.06万辆，同比增长10.41%。而剔除海外销量后，比亚迪国内乘用车累计销量则是同比微降4.8%。 据中证金牛座，12月5日，比亚迪在深圳坪山举行临时股东大会。会上，比亚迪董事长兼总裁王传福表示，今年比亚迪国内市场销量出现下滑，一方面由于 比亚迪当前技术领先度不及前几年，技术成果的市场惊艳度有所下降，叠加行业同质化特征渐显，这一变化符合产品及技术发展的周期性规律。另一方面， 低温充电速度慢等用户需求痛点，也亟待通过技术突破予以解决。 "我之所以说目前技术不够领先，是因为后面还有重磅技术发布，但目前不方便透露。"王传福说，比亚迪的核心竞争力在于技术，公司麾下12万工程师团 队，是公司后续技术攻坚、重塑领先优势的关键底气与支撑。 最新销量数据显示，比亚迪11月汽车销量480186辆，去年同期506804辆；今年1-11月，汽车销量418万辆，同比增长11.3%。 在技术层面，今年2月10日，比亚迪在智能化战略发布会上推出21款智驾版车型。王传福彼时表示，2025年将是"智能驾驶普及元年"，预计未来2-3年内，智 能驾驶将如同安全带或安全气囊一样成为标配。 3月份，比亚迪在 ...

Core Viewpoint - BYD is not only a leader in electric vehicle sales but also a pioneer in electric vehicle technology, significantly influencing the industry standards and practices [3][14]. Sales Performance - In November 2025, BYD sold over 480,000 vehicles, with overseas sales exceeding 130,000, both achieving new highs for the year [1]. - Cumulatively, BYD's sales from January to November 2025 surpassed 4.18 million units, solidifying its position in the global electric vehicle market and making the annual sales target of 4.6 million units highly attainable [1]. Technological Innovations - BYD has introduced several groundbreaking technologies in the electric vehicle sector, including: - Remote vehicle control features launched in 2011, which are now standard in many electric vehicles [3]. - Remote driving capabilities introduced in 2012, evolving to smartphone control [6]. - Bidirectional inverter technology (VtoL) first launched in 2013, now widely adopted across various brands [8]. - The DM-i super hybrid technology introduced in 2021, which has set new benchmarks for fuel efficiency in the industry [10]. - Blade battery technology introduced in 2020, enhancing battery safety standards [11]. - Megawatt fast charging technology launched in early 2023, prompting competitors to develop similar platforms [12]. Research and Development Commitment - Between 2011 and 2024, BYD has consistently prioritized R&D, with 13 out of 14 years seeing R&D expenditures exceed net profits, totaling over 210 billion yuan by 2024 [13]. - In 2019, despite a low net profit of 1.6 billion yuan, BYD invested 8.4 billion yuan in R&D, laying the groundwork for future innovations [13]. - In the first three quarters of this year, BYD led A-shares in R&D investment, reaching 43.75 billion yuan, a 31% increase year-on-year, significantly surpassing its net profit of 23.33 billion yuan [15]. Industry Influence - BYD's evolution from being underestimated a decade ago to becoming a central player in the electric vehicle market reflects its significant impact on competitors, who have shifted from skepticism to emulation of BYD's innovations [14]. - The company's substantial R&D investment is comparable to the combined R&D expenditures of major competitors like Geely, SAIC, and Chery during the same period [15].

Core Insights - During the Guangzhou Auto Show, BYD showcased 93 new car models, with a total of 1,085 vehicles on display, including 629 new energy vehicles [1] - BYD's "Tian Shen Zhi Yan" intelligent driving assistance system is central to its "Universal Intelligent Driving" strategy, which aims to cover high-end to mainstream markets with three versions of the system [1] - BYD's penetration rate for intelligent driving models has reached 71%, and the company announced OTA upgrades for its Han L and Tang L models, enhancing their smart driving capabilities [1] Company Strategy - BYD demonstrates strategic flexibility in the smart technology sector, utilizing self-developed systems to create technological barriers while also engaging in open collaborations to expand its ecosystem [2] - The company has established a "dual-track" strategy, ensuring core technology remains under its control while avoiding the risks associated with insular development, as seen in the case of the Fangcheng Leopard 8 equipped with Huawei's ADS [2] - BYD's "technology iron triangle" consists of blade batteries, DM technology, and the Tian Shen Zhi Yan system, positioning the company with a comprehensive advantage across the energy and smart technology sectors [2] Industry Trends - The Chinese automotive industry has transitioned from a phase of "scale expansion" to a high-quality development stage driven by "electrification and intelligentization" [2] - Increasing numbers of Chinese automotive brands are leveraging innovative technologies and optimizing ecosystems to enhance industry quality and efficiency [2]

Core Insights - BYD is actively participating in COP30, showcasing its electric vehicles as symbols of low-carbon transportation and contributing to the global dialogue on climate change [1][2]. Group 1: Technological Innovations - BYD emphasizes the importance of electric vehicle adoption as a key pathway for carbon reduction in the transportation sector, leveraging its fifth-generation DM super hybrid technology and megawatt fast charging to facilitate the transition from traditional fuel vehicles [2]. - The fifth-generation DM super hybrid technology has achieved a fuel consumption rate of 2.6L/100km, significantly reducing carbon emissions [2]. - The megawatt fast charging technology allows for a rapid charge of 5 minutes to enable a travel range of 400 kilometers, enhancing the accessibility of electric vehicles [2]. Group 2: Market Performance in Brazil - BYD has achieved a cumulative sales figure of over 87,000 vehicles in Brazil from January to October 2025, with an 80% market share in pure electric models and 25% in hybrid models [3]. - In less than three years, BYD's total sales in Brazil have surpassed 180,000 vehicles, setting an industry record [3]. - A recent report indicates that BYD has become the most satisfying automotive brand for Brazilian consumers, surpassing major brands like Fiat, Honda, and Volkswagen [3]. Group 3: Global Expansion and Recognition - BYD's global footprint extends to 117 countries and regions, with overseas sales of passenger cars and pickups exceeding 785,000 units from January to October 2025, marking a historical high [4]. - The company has established an 8-vessel roll-on/roll-off fleet to support its global strategy for efficient product distribution [4]. - BYD has been recognized in the Kantar BrandZ Top 10 Global Automotive Brands for three consecutive years and ranked 91st in the Fortune Global 500 [4].

Core Insights - BYD is actively participating in COP30 as an official partner, showcasing its electric vehicles as symbols of low-carbon transportation [2][4] - The company emphasizes the importance of electric vehicle adoption for carbon reduction in the transportation sector, leveraging innovative technologies [4][5] - BYD has established a comprehensive low-carbon industrial chain, contributing to local sustainable development in Brazil [4][6] Group 1: Technological Innovations - BYD's fifth-generation DM super hybrid technology reduces fuel consumption to 2.6L/100km, significantly lowering carbon emissions [5] - The megawatt fast-charging technology allows for a 5-minute charge to enable a range of 400 kilometers, enhancing the efficiency of electric vehicle adoption [5] - The company aims to reduce operational carbon intensity by 50% by 2030 and achieve carbon neutrality across its value chain by 2045 [5] Group 2: Market Performance in Brazil - BYD has sold over 87,000 vehicles in Brazil from January to October 2025, with an 80% market share in pure electric models and 25% in hybrid models [6] - The company has surpassed major automotive brands in consumer satisfaction, ranking as the highest-rated brand in Brazil according to Decoupling's report [6] - BYD's local factory operates entirely on renewable energy and has been recognized for its contributions to the local economy [6] Group 3: Global Expansion and Recognition - BYD's green footprint extends to 117 countries and regions, with over 785,000 overseas passenger cars and pickups sold from January to October 2025 [8] - The company has built an 8-vessel roll-on/roll-off fleet to support its global strategy for efficient product distribution [8] - BYD has been recognized in the Kantar BrandZ Top 10 Global Automotive Brands for three consecutive years and ranks 91st in the Fortune Global 500 [8]

Core Viewpoint - BYD has positioned itself as a key player in the global low-carbon transition by participating in COP30 and showcasing its innovative technologies in electric vehicles and sustainable practices [1][3][13]. Group 1: Participation in COP30 - BYD became an official partner of COP30, providing 130 electric vehicles for transportation services during the conference, emphasizing the importance of electric vehicle adoption for carbon reduction in the transportation sector [1]. - The presence of BYD's Brazil General Manager, Li Tie, at the conference highlighted the company's commitment to promoting sustainable urban development through technological innovation [1][3]. Group 2: Local Market Expansion - During COP30, BYD opened a new store in Belem, Brazil, attended by local government officials, marking a significant step in its commitment to deepening its market presence in Brazil [4]. - Since entering the Brazilian market in 2014, BYD has established a strong foothold, including the launch of a new energy bus factory and a solar photovoltaic factory, contributing to a diverse range of green transportation solutions [6]. Group 3: Sales Performance and Market Recognition - In the first ten months of this year, BYD sold over 87,000 vehicles in Brazil, achieving an 80% market share in pure electric vehicles, making it one of the most recognized automotive brands in the region [8]. - BYD has surpassed major multinational brands in consumer satisfaction, receiving the highest RA1000 certification based on votes from 30 million users, and has won 26 awards since 2025 for its product quality and user service [8]. Group 4: Technological Innovations - BYD has introduced its fifth-generation DM Super Hybrid technology, significantly reducing fuel consumption to 2.6L/100km, and has developed the Megawatt Flash Charging technology, enabling rapid charging capabilities [11]. - The company has established a comprehensive green ecosystem that includes energy acquisition, storage, and application, aiming for a 50% reduction in carbon intensity by 2030 and achieving carbon neutrality across its value chain by 2045 [11][9]. Group 5: Global Strategy and Vision - BYD's global footprint includes sales in 117 countries and regions, with over 785,000 vehicles sold overseas in the first ten months of this year, showcasing its commitment to international expansion [8]. - The company aims to provide systematic solutions for global low-carbon development through its "three green dreams," contributing to climate change mitigation efforts and enhancing the voice of developing countries in climate discussions [13].

Core Viewpoint - BYD is actively expanding its global presence in the electric vehicle market, showcasing significant sales growth and robust financial performance while addressing challenges in international trade and local market adaptation [2][5]. Group 1: Overseas Market - BYD reported a 135% year-on-year increase in overseas passenger car and pickup sales, totaling 785,000 units from January to October [2] - The global passenger car market is valued at 80 million units, with an electric vehicle penetration rate of only 20% expected in 2024, indicating substantial market potential [2] - The company is focusing on understanding local cultures and consumer demands to enhance its international market strategy [2] Group 2: Overseas Production Capacity - BYD has established production facilities in Thailand, Uzbekistan, and Brazil, with a combined design capacity exceeding 300,000 units per year [3] - The company is planning additional factories in Hungary, Malaysia, and Cambodia, continuing its global production expansion [3] - The strategy emphasizes a blend of internationalization and localization to support the green transformation of the automotive industry [3] Group 3: R&D Strength - BYD is enhancing its core technology capabilities in electrification, including advancements in blade batteries, CTB body integration, and megawatt fast-charging technology [4] - The "Heavenly Eye" intelligent driving system, launched in February, aims to democratize advanced driving features, leveraging over 130 million kilometers of driving data for rapid iteration [4] - The company positions itself as a leader in the global electrification process through continuous technological innovation [4] Group 4: Financial Performance - In the first three quarters of 2025, BYD reported total revenue of approximately 566.3 billion yuan, with a net profit attributable to shareholders of 23.3 billion yuan [5] - The company achieved cumulative sales of 3.26 million new energy vehicles, marking an 18.6% year-on-year increase and solidifying its position as the global sales leader [5] - As of the end of Q3, BYD's cash and cash equivalents exceeded 175.2 billion yuan, indicating strong cash flow management to support rapid business growth [5]