Core Viewpoint - The Tank brand, under Great Wall Motors, aims to create a unique off-road culture in China while achieving significant sales milestones, showcasing its commitment to innovation and user collaboration [3][5]. Group 1: Brand Development - The Tank brand has achieved cumulative global sales of over 650,000 units since its establishment in 2021, emphasizing its strong positioning in the rugged off-road vehicle market [3]. - The brand's executive vice president, Gu Yukun, highlighted the importance of co-creation with users in developing the brand's identity and culture [3]. Group 2: Product Innovation - The unveiling of the self-developed 4.0T V8 engine fills a gap in the large displacement power segment for Chinese brands, enhancing Tank's strategic layout across various powertrains and vehicle types [5]. - The Tank 300 diesel version achieved over 120% of its official range during a highway endurance challenge, marking it as the only vehicle to meet the official range standard at the event, with lower refueling costs compared to hybrid and extended-range models [5]. Group 3: Market Positioning - The Tank 300 Huke version, named after one of the world's three major off-road sanctuaries, is designed for extreme off-road performance, reflecting the brand's commitment to meeting user demands for pure off-road experiences [7]. - Tank is establishing a closed-loop development model centered on user feedback and real-world testing in global off-road locations, aiming to enhance its research and development processes [7].

Core Insights - The Tank brand, a subsidiary of Great Wall Motors, showcased its self-developed 4.0T V8 engine and the Tank 300 Huke version at the Shanghai Auto Show, marking a significant milestone in its four-year journey with over 650,000 units sold globally [1][3] - The 4.0T V8 engine represents a breakthrough in China's large displacement power sector, emphasizing the brand's commitment to traditional fuel power and the unique mechanical appeal it offers to off-road enthusiasts [3] - The Tank 300 Huke version is designed for extreme off-road capabilities and symbolizes a lifestyle choice, aiming to express the identity and spirit of hardcore off-road communities [3] Product Highlights - The Tank 300 diesel version achieved over 120% of its official range during a highway endurance challenge, making it the only model to meet the official range requirements at the event, with lower refueling costs compared to hybrid and extended-range vehicles [5] - Despite the lower refueling costs of pure electric vehicles, the Tank 300 diesel version offers a significantly shorter refueling time, taking nearly 15 times less than the fast charging time of electric models [5] - The Tank 300 has a three-year depreciation rate of 74.48%, indicating its stable hardware value and residual value expectations compared to other vehicles in the market [5] Brand Positioning - The Tank brand aims to redefine the position of Chinese brands in the global automotive market through systematic upgrades across all powertrains, models, and scenarios, showcasing multiple core achievements at the Shanghai Auto Show [5]

Core Viewpoint - The article discusses the ongoing competition between electric vehicles (EVs) and traditional fuel vehicles in the Chinese automotive market, highlighting the significant market share that fuel vehicles still hold despite the rapid growth of EVs [3][4][5]. Summary by Sections New Energy Vehicles vs. Fuel Vehicles - The Shanghai Auto Show showcases a strong focus on new energy vehicles, with brands like BYD, NIO, Li Auto, and Xpeng unveiling new models, while some manufacturers continue to support fuel vehicle development [3][5]. - According to SAIC GM's general manager, fuel vehicles are expected to maintain at least 25% market share in the future [3]. Market Data and Trends - In March, the penetration rate of new energy vehicles in China reached 54.1%, indicating a significant shift towards EVs [4]. - Despite the growth of EVs, fuel vehicles remain a substantial part of sales for traditional automakers, with companies like Geely, Great Wall, and Chery still relying heavily on fuel vehicle sales [6][9]. Financial Performance and Competitive Landscape - BYD's decision to stop producing fuel vehicles is backed by its strong control over the battery supply chain, leading to a projected gross margin of 21.02% in 2024, surpassing competitors like Li Auto (19.8%) and Tesla (17.9%) [7]. - Fuel vehicles still represent a significant portion of total sales for major automakers, with Geely's fuel vehicle sales projected to account for 59.19% of total sales in 2024 [9]. Global Market Strategy - Companies like Chery and Geely are focusing on international markets, with Chery's overseas sales in 2024 expected to reach 1.144 million units, of which over 80% will be fuel vehicles [14]. - The global automotive market still sees fuel vehicles as a dominant force, with 85% market share compared to 15% for new energy vehicles [17]. Policy and Industry Outlook - The Chinese government is expected to continue supporting the development of internal combustion engine technology alongside new energy vehicles, indicating a balanced approach to automotive development [13]. - The article suggests that fuel vehicles will remain relevant in the market, especially as electric vehicle technology continues to mature [17].