关注 「电动车公社」 和我们一起重新思考汽车 不知道大家发现没有， 很多以往在燃油车时代象征着高端、豪华的配置， 如今已经变得唾手可得。 冰箱彩电大沙发、能实现车位到车位的辅助驾驶、炫酷的HUD抬头显示、360°全景影像、电动尾门这些，已经成了不少车型的标配； 底盘方面也是一样，能自由调节底盘软硬、高低的空气悬架，以及能用辅助驾驶摄像头预瞄主动控制底盘软硬的"魔毯底盘"等等，都在近几年迎来了井喷式的 发展。 以上这些技术我们平时聊得比较多，今天咱们聊个比较另类，但最近刷脸率又奇高无比的底盘技术—— 后轮转向 。 以往带配备后轮转向的车型，往往都是保时捷 911、兰博基尼Aventador S这种 顶级超跑性能车 ，或者是奔驰S级这种豪华品牌的旗舰车型，而且都需要选 装。 到了现在，越来越多的国产电动车，都开始标配后轮转向，价格更是一个赛一个低。 比如四十万价位的 腾势N9、小鹏X9 ，30万元价位的 领克900 ， 智己L6 甚至 把后轮转向打到了20万元出头 ，非常离谱。 配备了后轮转向的车型，它的特点归纳起来就两个字—— 灵活 。 尤其是对于很多笨重的SUV或MPV，简直就是天大的福音！ 就拿车长5.3米 ...

Core Viewpoint - The automotive industry's price-cutting trend has led to a continuous decline in valuations across the supply chain, yet savvy investors are beginning to acquire undervalued stocks, particularly in the intelligent driving sector [1] Group 1: Intelligent Driving Sector - The intelligent driving segment is a core investment theme in the automotive industry, with domestic new energy vehicle penetration exceeding 40%, but high-level intelligent driving penetration remains low, primarily at the L2 stage [1] - Companies like Xpeng and Tesla are leading the push for higher-level intelligent driving, with only a few models achieving L2+ and L3 capabilities [1] - The steer-by-wire system is a key component of high-level intelligent driving, and the global steering system leader, Nexteer (耐世特), is gaining investor interest [1] Group 2: Company Performance and Market Position - Nexteer's valuation has dropped by 7% recently but has increased by over 77% this year, driven by improved fundamentals and strong competitiveness in the steer-by-wire sector [1] - The company is strategically expanding into the steer-by-wire chassis sector to meet industry mass production demands, further enhancing its fundamentals [1] - Nexteer holds a strong position in the global automotive steering system market, ranking among the top three with a market share of 16.16% in China, second only to Bosch Huayu [2][4] Group 3: Financial Outlook - Despite being a market leader, Nexteer faces significant competitive pressure from price wars and domestic substitution in the Chinese market, with revenue growth slowing to only 1.65% in 2024 [4] - The company has a high customer concentration, with its top three clients contributing 68.8% of revenue, which poses operational risks if major clients like General Motors face performance issues [4] - In Q1 2025, Nexteer secured $800 million in new orders, a 60% year-on-year increase, with a significant rise in orders from Chinese clients, indicating strong product recognition [5][11] Group 4: Product Development and Market Trends - The steer-by-wire system is becoming mainstream as the automotive industry shifts from traditional hydraulic systems to electronic systems, with significant growth potential in the L2+ and L3 intelligent driving segments [7][10] - Nexteer's product portfolio includes traditional hydraulic and electric power steering systems, with a notable increase in orders for steering columns and intermediate shafts in 2025 [8] - The company has made breakthroughs in steer-by-wire technology, winning multiple orders from leading electric vehicle manufacturers, which positions it well for future growth [10] Group 5: Investment Sentiment - Several investment banks are optimistic about Nexteer's prospects, forecasting a compound annual growth rate of 29% in net profit from 2025 to 2027, supported by strong order growth and product diversification [11] - The intelligent driving sector remains a hot investment theme, with Nexteer's fundamentals and multiple growth drivers expected to support its market value in the long term [12]

Group 1 - The company launched 23 projects in Q1 2025, with 60.9% being new energy vehicle projects, totaling 14 projects, which account for 65.2% of all projects in the Asia-Pacific region [1] - Strong orders from Chinese new energy vehicle manufacturers were highlighted, covering REPS, DPEPS, and the latest RWS systems [1] - The company aims for an annual order target of $5 billion, with Q1 orders reaching $800 million, representing 16.0% of the annual target [1] Group 2 - The U.S. government proposed to ease regulations on autonomous vehicles, which will benefit the company's autonomous driving-related business and advanced steering systems [2] - The company is actively collaborating with clients and suppliers to optimize supply chains and production strategies to mitigate market uncertainties, especially regarding U.S. import policies [1] - The company is ensuring compensation from clients to offset costs related to non-exempt tariffs [1]

Group 1 - The core viewpoint of the article highlights that Nexperia is a trusted partner in the safety-critical motion control sector, both in China and globally, as stated by Robin Milavec, the company's President, CTO, and Chief Strategy Officer [2] - Nexperia is recognized as a leading company in motion control technology, providing innovative products and solutions for challenges in electrification, advanced driver-assistance systems (ADAS), autonomous driving, and shared mobility [2] - During the 21st Shanghai International Auto Show, Nexperia showcased its latest innovations in motion control, allowing visitors to experience next-generation breakthroughs in safety, comfort, and performance through simulated driving [2] Group 2 - The company collaborates closely with leading automotive manufacturers in China and globally, helping them to quickly respond to market trends and changes with high-quality, value-driven technologies [3] - The choice of Nexperia by automotive manufacturers is attributed to its foresight, speed, and value, which are crucial for success in a highly competitive and rapidly changing market [3]

Nexteer Automotive Group (01316) Q4 2024 Earnings Call March 19, 2025 08:00 AM ET Company Participants Tony Wang - Investor Relations DirectorRobin Milavec - President, CTO, Chief Strategy Officer & Executive DirectorMike Bierlein - SVP & CFORebecca Wen - Executive DirectorBen Wang - Director Conference Call Participants Tim Hsiao - AnalystYiming Liu - Chief Analyst Operator I would now like to turn the conference over to Investor Relations Director, Mr. Tony Wong. Please go ahead. Tony Wang Thank you, Bets ...