Core Viewpoint - The emergence of new electric vehicle manufacturers in China continues despite the ongoing industry consolidation and the failure of many previous entrants, driven by various backgrounds and investment motivations [2][9]. Group 1: New Entrants in the EV Market - Companies like Pursuit Technology, Jin Yu Automobile, and Craftsman Automobile are entering the market with high-performance electric vehicles, including luxury models and sports cars [2][3]. - Pursuit Technology plans to launch a super luxury electric vehicle by 2027, previously focusing on a range-extended SUV [2][3]. - Jin Yu Automobile aims to produce two electric sports cars by 2026, targeting sales of 50,000 units in 2026 and 200,000 units by 2028 [3]. Group 2: Background and Investment - Many new entrants are linked to established tech companies, particularly Xiaomi, which has invested in several of these startups [3][4]. - Craftsman Automobile, originally a creator on the Bilibili platform, has received investment from Xiaomi and is focusing on personalized electric supercars [4][5]. Group 3: Production and Market Focus - The new companies are leveraging idle production capacities in local factories, with a significant portion of China's automotive production capacity currently underutilized [9][10]. - Jin Yu Automobile and Craftsman Automobile are utilizing existing production facilities to manufacture their vehicles, addressing local government interests in revitalizing idle capacities [10][12]. Group 4: International Market Strategy - Many of these new manufacturers are targeting international markets rather than focusing solely on domestic sales, with plans to enter regions like Europe, Southeast Asia, and Africa [6][7]. - Pursuit Technology aims to replicate its success in the automotive sector by leveraging China's supply chain and global distribution channels [6]. Group 5: Industry Dynamics and Challenges - The current automotive landscape is characterized by a significant number of companies vying for market share, with many facing challenges due to intense competition and market saturation [9][15]. - The shift towards electric vehicles and the need for innovative business models are driving investment in new automotive ventures, as traditional growth avenues become constrained [9].

Core Insights - The D1 Drift Grand Prix in Chengdu from June 20-22 marks a significant milestone as the world's first international mass-produced electric vehicle drift competition, showcasing the rise of China's new energy vehicle industry [1][3][9] Industry Overview - The global automotive industry is undergoing profound changes, with China's new energy sector emerging as a leader, highlighted by innovative achievements [1][3] - The D1 Drift Grand Prix is recognized as one of the three major global motorsport events alongside F1 and WRC, emphasizing its competitive and entertainment value [3][9] Event Highlights - The event features six major new energy models: SC01, Geely Rui Blue 7, Geely Radar PHEV, Ledo L60, Chery Star Era ES, and Hyundai IONIQ 5 N, which will compete in performance demonstrations [3][4] - The competition includes a dedicated drift show for each brand, showcasing the vehicles' power tuning and handling capabilities [4][10] - The final day will feature a performance showdown among the six models, focusing on speed, performance, and technology [4][10] Technological Innovations - SC01 boasts a dual-motor all-wheel-drive system with a total power of 320 kW, achieving 0-100 km/h in just 2.9 seconds and a range of 520 km [6] - Geely Rui Blue 7 features a 180 kW electric motor, achieving 0-100 km/h in 6.8 seconds, showcasing advanced suspension and smart technology [6][7] - Geely Radar EM-P combines a 1.5T turbo engine with dual motors, achieving a total power of 260 kW and a 0-100 km/h time of just over 6 seconds [7] - Ledo L60 is built on a 900V silicon carbide platform, achieving low energy consumption of 12.1 kWh/100 km [7] - Chery Star Era ES integrates high-performance materials and innovative electronic systems, while Hyundai IONIQ 5 N features advanced drift control technology [8] Cultural Impact - The D1 Drift Grand Prix has rapidly gained popularity in China since its introduction in 2016, even overcoming challenges posed by the pandemic [9] - The integration of new energy drifting into the D1 event not only enhances the sport's appeal but also sets a precedent for the electrification of motorsport globally [9][10] - The event will also feature cultural elements, including a sharing session by D1 founder Keiichi Tsuchiya and performances by prominent electronic music artists [9][10]