Group 1 - The core concept of the article is that Jietu is positioning its new model, the Mountain Sea L7 PLUS, as a "travel small RV," aiming to capture market trends and enhance its brand appeal in the outdoor travel segment [2][3] - Jietu's strategic transformation around 2023 has led to the successful launch of several "boxy" models, including the Traveler and Mountain Sea T1 and T2, resulting in a total sales volume of 231,000 units for the "boxy" family in 2024 [2] - The Mountain Sea L7 PLUS is not a traditional RV, as it lacks essential features like independent kitchen and bathroom, but rather enhances the flexibility and camping functionality of an SUV, extending Jietu's "travel+" concept [2][3] Group 2 - Key selling points of the Mountain Sea L7 PLUS include a pure electric range of 220 kilometers and a comprehensive range of 1,700 kilometers, along with features like a cold and warm armrest box and a hidden icebox, making it more suitable for outdoor travel [3] - Jietu has established a "travel+" brand positioning since its inception, creating a differentiated market path through travel scenarios, which has contributed to its continuous sales growth [3] - To reinforce its "travel+" positioning, Jietu has built a travel ecosystem comprising 320 alliance partners and 1,252 global rest stations, enhancing brand loyalty [3]

Core Viewpoint - Jietu Automobile is showcasing its "Travel+" strategy at the Chengdu International Auto Show, emphasizing the launch of the new "Travel Small RV" model, the Shanhai L7 PLUS, which aims to redefine travel lifestyles and promote a more accessible, intelligent, and globalized travel vehicle market [1][4][28] Group 1: Product Launch and Market Performance - The Shanhai L7 PLUS has received over 48,000 orders within 60 hours of its launch, indicating strong market demand [5] - The vehicle is designed based on user needs and features seven unique advantages, making it appealing to Chinese families and promoting RV culture as a mainstream lifestyle [5] - The Shanhai L7 PLUS is positioned as a long-range luxury electric seven-seater SUV, featuring a spacious interior with a wheelbase of 2820mm and 32 different seating configurations [9] Group 2: Technological Innovations and Features - The Shanhai L7 PLUS is equipped with a 1.5TGDI hybrid engine, delivering a power output of 115kW, and offers a pure electric range of 220 kilometers and a combined range of 1700 kilometers [12] - It includes advanced features such as a dual refrigerator system, a 6.6kW external power supply, and a unique suspension system, enhancing the travel experience [9][12] - The vehicle's body is constructed with 86% high-strength steel, ensuring safety and durability, complemented by a lifetime warranty on the vehicle and its battery systems [15] Group 3: Company Growth and Market Position - Jietu Automobile has achieved significant growth, with sales exceeding 400,000 units from January to August 2025, marking a 30% year-on-year increase [25] - The company has sold over 1.93 million vehicles globally, establishing a presence in 91 countries and regions, and is recognized as a leading brand in the global off-road market [25] - The Jietu X70 series, known as the "China's Large Seven-Seater SUV Sales Champion," has surpassed 960,000 units in cumulative sales, approaching the milestone of one million [20]

Core Insights - The launch of the "travel small RV" model, the Shanhai L7PLUS, achieved over 48,000 orders within just 60 hours, highlighting the market enthusiasm for this new vehicle and the innovative approach of Chinese automotive brands in the "travel+" segment [1][3] - Jietu Auto showcased multiple models at the Chengdu International Auto Show, emphasizing its "travel+" strategy and aiming to redefine travel lifestyles while leading the market towards inclusivity, intelligence, and globalization [3][12] Company Strategy - Jietu Auto remains committed to its long-term "travel+" strategy amidst the industry's trend of parameter-driven competition, focusing on user benefits and practical solutions [5][12] - The company has built a strong foundation over seven years, leveraging Chery Group's 28 years of automotive experience to create a dual moat of "technology + ecology" while addressing real family travel pain points [6][12] Product Performance - The "Box Champion Family" series has seen significant success, with the Traveler series achieving cumulative sales of over 370,000 units in 23 months, demonstrating Jietu's deep market penetration [8] - The Jietu X70 series has also performed well, with global cumulative sales exceeding 960,000 units, approaching the "million club" milestone, and the 2025 Jietu X70PLUS continuing to offer high value for larger families [11] Market Position - Jietu's sales from January to August 2025 exceeded 400,000 units, marking a 30% year-on-year increase, with total sales surpassing 1.93 million units, indicating a strong grasp of family travel needs and a transition from a follower to a leader in the global market [11][12] - The company is positioned as a pioneer in the "travel+" segment, breaking traditional boundaries through product innovation and gaining recognition for its capabilities [12][14]

Industry Overview - The automotive market in China showed strong performance in the first half of 2025, with production and sales reaching 15.62 million and 15.65 million units respectively, marking year-on-year growth of 12.5% and 11.4% [2] - New energy vehicles (NEVs) also saw significant growth, with production and sales reaching 6.968 million and 6.937 million units, reflecting year-on-year increases of 41.4% and 40.3% [2][5] Major Players Performance - BYD achieved sales of 2.146 million vehicles in the first half of 2025, a year-on-year increase of 33.04% [4] - SAIC Motor sold 2.053 million vehicles, with a year-on-year growth of 12.4%, maintaining positive growth for six consecutive months [4] - Chery's sales reached 1.26 million vehicles, marking a year-on-year increase of 14.5% [5] - Geely's total sales were 1.93 million vehicles, with NEV sales reaching 1.001 million units, a remarkable year-on-year growth of 73% [5] New Energy Vehicle Trends - The NEV sector continues to thrive, with companies like Geely and Chery reporting substantial increases in NEV sales, contributing to the overall market growth [6][7] - The penetration rate of NEVs in Geely reached 52% in the first half of 2025, indicating a strong shift towards electric vehicles [5] Competitive Landscape - The competition among new car manufacturers has intensified, with Leap Motor leading the new forces with 221,700 deliveries, followed by Li Auto and Xpeng with 203,800 and 197,200 units respectively [3][7] - NIO's performance was relatively stable, delivering 114,000 vehicles, a year-on-year increase of 30.57% [8] Market Dynamics - The automotive industry is experiencing a shift from aggressive price competition to a focus on quality and innovation, as companies adapt to market changes and consumer demands [9][10] - The trend of "anti-involution" is gaining traction, with major players taking steps to stabilize supply chains and maintain supplier interests [8][9] Strategic Adjustments - Companies are restructuring internally to enhance competitiveness, with SAIC integrating its brands to improve resource utilization and reduce production costs [10] - The emphasis on brand innovation and quality improvement is becoming increasingly important in the competitive landscape of the automotive industry [10]

Group 1 - In June 2025, Jietu Automobile sold 55,741 vehicles, representing a year-on-year growth of 32.4%. For the first half of the year, total sales reached 299,368 units, up 33.9% year-on-year, marking a strong development momentum with a historic semi-annual sales breakthrough of 290,000 units [1] - Jietu's three major segments—fuel vehicles, electric hybrid off-road vehicles, and luxury off-road vehicles—are performing well in the global market, with the Jietu X70 series being the "champion of seven-seat SUVs in China," selling 15,725 units in June and surpassing 930,000 cumulative sales globally [3] - The Jietu Mountain Sea T1 and T2 models have contributed to the electric hybrid off-road segment, with cumulative sales of 6,140 units, while the new Mountain Sea L9 has gained popularity among families for its spacious and comfortable design [3] Group 2 - The luxury electric hybrid off-road segment, represented by the Zongheng G700, is gaining traction with its advanced power system and design philosophy, establishing a strong presence in the global luxury off-road market [5] - Jietu is entering the "Off-Road 3.0 Era," expanding its product lineup to cover various off-road categories, making off-roading a more accessible lifestyle choice for a broader audience [7] - The Zongheng G700 showcased its capabilities by participating in the 2025 Rally, achieving a personal runner-up position and demonstrating the brand's commitment to overcoming challenges in extreme conditions [8] - The Zongheng G700 made its debut at the Hong Kong Auto Show, highlighting its robust off-road performance and luxury experience, reinforcing Jietu's strategic intent to penetrate the global high-end market [9] - The strong performance in the first half of the year sets a solid foundation for Jietu's growth trajectory in 2025, with plans to accelerate product innovation and aim for the title of "global number one electric hybrid off-road brand" [11]

Core Insights - The electric vehicle (EV) wave is rapidly transforming the global automotive industry, with Chinese automakers accelerating their overseas expansion, particularly in Malaysia, which is becoming a key market for them [2][3] Group 1: Market Dynamics - Stellantis and Leap Motor are launching a local assembly project in Malaysia with an initial investment of €5 million, aiming to produce the Leap C10 model by the end of 2025 [3] - Malaysia's new car sales reached a record high of 816,700 units in 2024, surpassing both 2022 and 2023 figures, while Thailand's sales dropped by 26% to approximately 570,000 units [3] - The Malaysian automotive market is characterized by strong local brands, Proton and Perodua, which hold about 60% market share, while Japanese brands account for around 30% [4] Group 2: Chinese Automakers' Strategies - Chinese automakers like Geely and BYD have made significant inroads into the Malaysian market, with Geely acquiring a 49.9% stake in Proton in 2017 and expanding its presence through technology sharing [4][7] - BYD's Atto 3 has quickly become a best-seller since its launch in late 2022, indicating strong demand for Chinese EVs in Malaysia [8][9] - Chery has also re-entered the Malaysian market, launching multiple models and establishing a new factory in Shah Alam, which is expected to enhance its local production capabilities [8] Group 3: Government Initiatives and Market Potential - Malaysia aims to increase the share of electric vehicles to 15% by 2030 and 38% by 2040, supported by tax incentives for EV manufacturers [6] - The country has introduced various tax exemptions for electric vehicles, including a 70%-100% income tax reduction and exemptions from import duties and sales taxes for locally assembled EVs [6] - The presence of Chinese automakers is driving significant growth in Malaysia's EV sales, which doubled to 21,789 units in 2024 compared to 10,159 units in 2023 [9] Group 4: Supply Chain and Local Production - Chinese automakers are establishing a comprehensive supply chain in Malaysia, with local production facilities for battery manufacturers and parts suppliers [11] - Companies like EVE Energy have begun operations in Malaysia, supporting local production with battery supply [11] - The local assembly of vehicles, such as the Leap C10, will leverage Stellantis's existing facilities, enhancing cost efficiency and market reach [10]