记者丨杨松 鄢子为 编辑丨鄢子为 37岁的科技新贵，踏上新路。 8月3日，印奇操盘的"千里智驾"，一举揽入约2500名吉利员工，涵盖极氪约1500人、吉利研 究院近1000人。加上迈驰智行的500人，新公司规模达到3000人。 据报道，本月15日前，极氪智驾的员工，即要全部完成转岗。 印奇早已备好粮草，千里智驾刚于7月完成增资，股东方累计现金出资超17亿元。 征战"智驾"，他还多了一位帮手。6月，千里科技请来原华为智能汽车解决方案BU首任总裁王 军，出任联席总裁。 印奇毕业于清华计算机实验室，长于算法，王军则有丰富实践经验，两者联手，推动千里智驾 启航。 紧密捆绑 8月1日，据《21汽车》报道，印奇、王军两人，奔赴宁波杭州湾，参加一场"誓师大会"，会议 时长为3小时。 本次会议，由吉利召开，吉利汽车CEO淦家阅、极氪科技集团副总裁陈奇，均出席并做讲话。 高层指出，吉利未来只有一个智驾团队，即千里智驾，极氪智驾团队和吉利研究院的智驾团 队，将整合进新公司。 同日，印奇掌舵的千里科技公告，拟与宁波吉利汽车研究院签约，以3.45亿元的价格，转让一 在研车型的知识产权。 转让标的，为一个增程版车型技术，系睿蓝自行研发 ...

以下文章来源于21世纪商业评论 ，作者杨松 鄢子为 21世纪商业评论 . 《21世纪商业评论》敏感于一切商业新知、商业产品、商业模式和商业英雄，敏感于新公司的新玩意、 老公司的新改造、旧话题的新表达、老商业的新颠覆，为您提供最新鲜实用的商业养分。 来源丨 21世纪商业评论（ID：weixin21cbr） 记者丨杨松 鄢子为 编辑丨鄢子为 图源丨Midjourney 37岁的科技新贵，踏上新路。 8月3日，印奇操盘的"千里智驾"，一举揽入约2500名吉利员工，涵盖极氪约1500人、吉利研究院近 1000人。加上迈驰智行的500人，新公司规模达到3000人。 据报道，本月15日前，极氪智驾的员工，即要全部完成转岗。 印奇早已备好粮草，千里智驾刚于7月完成增资，股东方累计现金出资超17亿元。 王军 征战"智驾"，他还多了一位帮手。6月，千里科技请来原华为智能汽车解决方案BU首任总裁王军，出 任联席总裁。 印奇毕业于清华计算机实验室，长 于算法，王军则有丰富实践经验，两者联手，推动千里智驾启航。 紧密捆绑 8月1日，据《21汽车》报道， 印奇、王军两人 ，奔赴宁波杭州湾，参加一场"誓师大会"，会议时长 为3小时。 本 ...

Group 1: Tesla's Breakthrough in Autonomous Driving - Tesla has achieved a significant milestone by successfully delivering a Model Y with full autonomous driving capabilities, marking the first time such a delivery has occurred on public highways without remote control [1] - Elon Musk emphasized the maturity of the technology by highlighting that the delivery was made to a randomly selected owner, showcasing the advancement in Tesla's Full Self-Driving (FSD) technology [1] - This breakthrough has prompted industry leaders, such as Xiaomi's chairman Lei Jun, to acknowledge Tesla's leadership in the FSD sector, further accelerating technological iterations and commercialization among automakers [1] Group 2: Qianli Technology's Strategic Developments - Qianli Technology has launched its first commercial intelligent driving solution, "Qianli Smart Driving 1.0," with plans to release an L3 level solution, "Qianli Smart Driving 2.0," within six months [2] - The "Qianli Smart Driving 1.0" solution includes three versions (basic, professional, flagship) with computing power ranging from 100 TOPS to 700 TOPS, catering to various vehicle segments [2] - The solution has already been integrated into Geely's vehicles, with models like Geely Galaxy Xingyao 8 and the new Galaxy E8 equipped with the basic version, while higher-end models are expected to adopt advanced versions later this year [2] Group 3: Technological Innovations and Research Focus - Qianli Technology's solution features significant core technological innovations, including self-developed large models and reinforcement learning to enhance system generalization and human-like driving experiences [3] - The company is also researching how to leverage AI technology to achieve the performance of 128-line laser radar using millimeter-wave radar, aiming to integrate sensors, controllers, and actuators for improved safety and reduced latency in intelligent driving [3] Group 4: Industry Ecosystem Development in Chongqing - Qianli Technology has established a joint venture in Chongqing, partnering with local funds and companies to enhance its "AI + vehicle" strategy and accelerate technology commercialization [4] - The establishment of the joint venture aims to break the traditional single cooperation model, allowing for deep collaboration with Geely while also opening up to the entire industry, thus promoting the development of a world-class intelligent connected new energy vehicle industry cluster in Chongqing [4] - The current phase in the intelligent driving sector is characterized by a focus on both technological breakthroughs and ecosystem construction, with Qianli Technology driving this dual approach [4] Group 5: Vision for the Future - Qianli Technology's co-CEO Wang Jun stated that AI is continuously leading the transformation of the smart automotive industry, with the goal of creating a comprehensive end-to-end solution for safer, more human-like, and comfortable driving experiences [5] - The recent advancements signify substantial progress in the development of technology business, with a commitment to open collaboration with partners across the industry chain to foster innovation and growth in smart automotive technology [5]

Core Viewpoint - The establishment of a joint venture for intelligent driving by Qianli Technology, Geely, and other partners marks a significant step in the development of smart driving technology in Chongqing, with the completion of necessary business registrations and the introduction of advanced intelligent driving solutions [1][2][4]. Group 1: Joint Venture Formation - Qianli Technology announced the completion of business registration for its wholly-owned subsidiary and a partnership with various funds, indicating the formal establishment of the joint venture for intelligent driving [1]. - The joint venture, named Chongqing Qianli Intelligent Driving Technology Co., Ltd., is set to collaborate with Geely, Maichi, and Lotus, among others, to advance smart driving initiatives [1]. Group 2: Product Development and Roadmap - Qianli Technology unveiled its L2+ level intelligent driving solution, Qianli Intelligent Driving 1.0, along with a roadmap for L3 and L4 level products, showcasing its commitment to advancing smart driving technology [2][4]. - The Qianli Intelligent Driving 1.0 solution is categorized into three versions: basic, professional, and flagship, with the flagship version featuring a processing power of up to 700 TOPS, enabling complex decision-making and interactions [4][5]. - The company plans to release the L3 level intelligent driving solution, Qianli Intelligent Driving 2.0, within the next six months, and aims to introduce the L4 level solution for Robotaxi scenarios, Qianli Intelligent Driving 3.0, by the second half of 2026 [7]. Group 3: Strategic Vision and Market Positioning - Qianli Technology's strategy of "AI + Vehicle" emphasizes a dual-driven development model, focusing on both terminal and technology businesses to strengthen its market position in the intelligent driving sector [9]. - The company aims to create a comprehensive end-to-end solution by integrating technology and the automotive supply chain, enhancing user experience through safer and more comfortable driving [2].

Core Viewpoint - The appointment of Wang Jun as co-CEO of Qianli Technology is expected to reshape the intelligent driving industry, potentially leading to a reshuffle among top players [2][3][4]. Group 1: Company Developments - Qianli Technology has appointed Wang Jun, former president of Huawei's Intelligent Automotive Solutions BU, to integrate resources and lead the technology business segment [2]. - The "Golden Triangle" team at Qianli Technology consists of Wang Jun, Yin Qi (AI algorithm), and Chen Qi (hardware), aiming to create a closed-loop system for intelligent driving [4]. - Following Wang Jun's appointment, Qianli Technology's stock price surged by 7.12% over two trading days, reflecting investor confidence in the company's technological potential [5]. Group 2: Industry Impact - Wang Jun predicts that within five years, the intelligent driving supply chain will be dominated by three major players: Huawei, Geely, and Tesla [6]. - Geely's "Tian Di Integrated Safety System" and the "Qianli Haohan" system are positioned to enhance its competitive edge in the intelligent driving sector [7]. - The "Qianli Haohan" system has undergone rigorous testing, achieving superior performance metrics compared to industry standards, which positions it as a leading product in the market [7][8]. Group 3: Technological Advancements - Geely has over 7.5 million L2-level intelligent driving vehicles, leading among Chinese automakers, with a significant amount of real-world driving data [8]. - The company has established a comprehensive AI-driven ecosystem, integrating architecture, algorithms, computing power, and data [8]. - Qianli Technology is driving a transformative wave in the automotive industry, akin to the "iPhone moment" in the smartphone sector, redefining the value of automobiles [9].

Core Viewpoint - The article discusses the transformation of Qianli Technology from a bankrupt company to a potential leader in the automotive industry, aiming to become the "second Huawei" with the recent appointment of Wang Jun from Huawei's automotive division [2][4][6]. Group 1: Company Transformation - Qianli Technology, formerly known as Lifan Technology, underwent a significant transformation after its bankruptcy in 2020, with strategic investments from Geely and other partners leading to a turnaround [4][5]. - The company aims to pivot towards an "AI + car" strategy, emphasizing the integration of artificial intelligence in its automotive solutions [6][7]. - The establishment of Chongqing Qianli Intelligent Driving Co., Ltd. in 2024, in collaboration with Geely and other automotive firms, is seen as a move to create a platform similar to Huawei's Yiyang [9][10]. Group 2: Leadership and Strategic Direction - Wang Jun's appointment as co-president of Qianli Technology is pivotal, given his experience in leading Huawei's automotive solutions and partnerships with major car manufacturers [2][11]. - The company is focusing on developing a comprehensive intelligent driving solution, with plans to support various vehicle manufacturers through its platform [9][10]. - Qianli Technology's strategy includes a dual focus on terminal and technology businesses, aiming for both domestic and international growth [6][7]. Group 3: Market Position and Challenges - Despite the ambitious goals, analysts express skepticism about Qianli Technology's ability to replicate Huawei's success due to differences in scale and market presence [11][12]. - The competitive landscape in the intelligent driving sector is dominated by established players like Huawei and Momenta, which hold a significant market share [10][11]. - Concerns exist regarding the willingness of other automotive companies to collaborate with Qianli Technology, given Geely's dominant role in the partnership [11][12].

Core Viewpoint - The recent appointment of Wang Jun, former president of Huawei's Intelligent Automotive Solutions Business Unit, as co-president of Qianli Technology has drawn significant industry attention, raising questions about the company's potential transformation and its ambition to become the "second Huawei" in the automotive sector [2][6]. Group 1: Company Background - Qianli Technology, previously known as Lifan Technology, underwent a name change in February 2025 after emerging from bankruptcy restructuring in 2020, which was facilitated by strategic investors including Geely and Chongqing Liangjiang Investment [2][3]. - Lifan Technology was once a prominent player in the automotive export market but faced severe challenges leading to its bankruptcy in 2020, with annual sales dropping to just over 2,000 vehicles [3]. Group 2: Leadership and Strategic Direction - Wang Jun's leadership at Huawei's car BU involved the development and implementation of Huawei's full-stack intelligent automotive solutions, establishing partnerships with major automakers [2][4]. - Following Wang's appointment, Qianli Technology aims to pivot towards an "AI + car" strategy, emphasizing dual business focuses on terminal and technology sectors, with a strong alignment to Huawei's strategic direction in intelligent driving and cockpit solutions [5][6]. Group 3: Market Position and Competitive Landscape - Qianli Technology's goal to replicate Huawei's success is supported by partnerships with Geely and other automotive companies, aiming to create a competitive ecosystem in intelligent driving technology [6][7]. - Despite the ambition, analysts express skepticism about Qianli Technology's ability to achieve a comprehensive breakthrough in the competitive landscape dominated by established players like Huawei and Momenta, which hold nearly 90% of the market share in third-party supplied vehicle NOA solutions [7][8]. Group 4: Future Prospects - The establishment of Chongqing Qianli Intelligent Driving Co., a joint venture with Geely and others, is seen as a strategic move to integrate resources and develop an open platform for third-party automotive enterprises [6][7]. - Analysts suggest that while Qianli Technology may struggle to become a second Huawei, it has a viable path to becoming a significant player in the intelligent driving solutions market, leveraging Wang Jun's expertise and the company's strategic partnerships [8].

Investment Rating - The investment rating for the company is "Outperform the Market" [6][4][27] Core Views - The company reported significant year-on-year growth in Q1 2025, with revenue reaching 72.495 billion yuan, a 25% increase, and net profit of 5.672 billion yuan, up 264% [1][8][11] - The company is advancing the privatization of its brand Zeekr, which is expected to enhance operational efficiency and reduce costs [3][22][24] - The company has adjusted its earnings forecasts upward for 2025-2027, anticipating revenues of 319.7 billion yuan, 396 billion yuan, and 437 billion yuan respectively, with net profits of 15.8 billion yuan, 20.7 billion yuan, and 24.4 billion yuan [4][28] Summary by Sections Financial Performance - In Q1 2025, the company achieved a gross margin of 15.8%, with a net profit margin of 7.82% and a core profit margin of 4.79% [1][14] - The total sales volume reached 704,000 units, a 48% increase year-on-year, with new energy vehicle sales at 339,000 units, representing a penetration rate of 52.2% [2][18] Product Development - The company launched the "Qianli Haohan" intelligent driving system and the self-developed "Shen Dun Jin Zuan" battery in Q1 2025, enhancing its AI capabilities and battery technology [2][19] Privatization and Mergers - The company announced a non-binding offer to privatize Zeekr at a price of $2.566 per share, which would make Zeekr a wholly-owned subsidiary [3][22] - The merger of Zeekr and Lynk & Co was completed in February 2025, indicating a strategic consolidation of brands under the company [3][22] Earnings Forecast - The company expects EPS of 1.57 yuan, 2.04 yuan, and 2.43 yuan for 2025, 2026, and 2027 respectively, maintaining the "Outperform the Market" rating [4][28]

重要行业新闻 1、行业动态 美国对多国征加高额关税，我国已经公布反制关税和非关税壁垒的组合措施 美国总统特朗普3月26日在白宫签署公告，宣布对进口汽车加征25%关税。这一关税措施于4月3日正式生效。符合美加墨协定的汽车零部件暂豁免，直至专门针对此类零部件产 品非美国价值部分征收关税程序出台；4月2日特朗普兑现在美国白宫签署两项关于"对等关税"的行政命令，在这份清单中，中国产品将被加征34%额外关税。叠加此前针对芬 太尼的20%，税率已经涨到至54%。与此同时，包括我国在内的其他国家也在积极制定和调整相应的应对策略。 核心观点 月度产销： 据乘联会初步统计，3月狭义乘用车零售总市场规模约为185.0万辆左右，同比+9.1%，环比+33.7%，其中新能源零售预计可达100万，渗透率回升至54.1%；上险数 据看，3月(3.3-3.30)国内乘用车累计上牌168.01万辆，同比+15.0%，新能源乘用车上牌88.78万辆，同比+32.8%；批发数据看，2月汽车产销210.3和212.9万辆，产销量环 比-14.1%和-12.2%，同比+39.6%和34.4%；新能源汽车产销完成88.8万辆和89.2万辆，同比+91 ...

Core Viewpoint - The entry of Tesla's Full Self-Driving (FSD) technology into the Chinese market has created a sense of urgency and anxiety among domestic autonomous driving companies, as they fear the potential competitive threat posed by Tesla's advanced AI capabilities [1][5][24]. Summary by Sections Tesla FSD Performance - Tesla's FSD has shown a mixed performance in China, with instances of both impressive driving capabilities and significant errors, highlighting the challenges of adapting to the complex driving environment in China [2][4]. - The underlying AI technology of Tesla is robust, allowing for smooth driving experiences in regular conditions, but it struggles with unique Chinese traffic scenarios due to a lack of localized data training [4][5]. VLA Model Introduction - The VLA model has emerged as a promising solution to the shortcomings of the end-to-end model, integrating visual, linguistic, and action capabilities to enhance vehicle understanding of complex driving situations [8][9]. - VLA's ability to interpret traffic signs and pedestrian intentions positions it as a potential game-changer in the autonomous driving landscape, especially if it can effectively address the unique challenges of Chinese roads [8][12]. Competitive Landscape - Four key players in the domestic market are actively developing VLA technology: Li Auto, Chery, Geely, and Yuanrong Qixing, each with distinct strategies and timelines for implementation [15][16]. - Li Auto's "MindVLA" aims for high accuracy in complex scenarios but faces challenges in managing dual systems, while Chery collaborates with major tech firms to enhance its capabilities [18][19]. - Yuanrong Qixing stands out for its aggressive development and production of VLA technology, positioning itself ahead of competitors in the market [19][21]. Future Outlook - The competition in the autonomous driving sector is shifting from engineering capabilities to the foundational AI model capabilities, with the upcoming deployment of VLA-equipped vehicles expected to provide clarity on the competitive dynamics between Tesla's FSD and domestic technologies [24][25].