以往自主整车企业之间的合作鲜有成功的先例，此次广汽与吉 利抱团新能源商用车，能否打破这一魔咒？ 作者： 濮振宇 封图：图虫创意 1月28日，广汽领程新能源商用车有限公司（下称"广汽领程"）与吉利旗下浙江远程新能源商用车 集团有限公司（下称"吉利远程"）在广州签署战略合作协议，双方计划围绕客车、VAN类产品推 广以及甲醇电动动力应用、能源加注等生态建设方面开展深度合作。 对于这一合作，吉利远程方面对经济观察报表示，吉利远程与广汽领程的合作还处于初步阶段，暂 时无法透露更多其他具体信息。 从行业来看，广汽领程与吉利远程的合作，是又一起自主整车企业合作的案例。对于已在新能源商 用车领域实现销量领先的吉利远程来说，这是打破区域市场壁垒、寻求新增量的重要一步。对于刚 完成品牌焕新的广汽领程而言，此举是战略性补短，也是其"轻资产"策略的又一个支点。 不过，以往自主整车企业之间的合作鲜有成功的先例，此次广汽与吉利抱团新能源商用车，能否打 破这一魔咒？ 领程转型 广汽领程的前身是广汽日野，作为一家中日合资商用车企业，广汽日野在燃油车时代曾凭借日野技 术占据高端市场，但在新能源转型中因决策迟缓而错失先机。2024年的股权重组， ...

Core Viewpoint - GAC Lingcheng and Geely Remote have signed a strategic cooperation agreement to collaborate on electric commercial vehicles, methanol electric power applications, and energy refueling infrastructure, marking a significant step for both companies in the competitive new energy commercial vehicle market [2][6]. Company Overview - GAC Lingcheng, formerly GAC Hino, has undergone a brand transformation to accelerate its shift towards new energy commercial vehicles, following a restructuring that increased GAC Group's stake to nearly 90% [2][3]. - Geely Remote, established in 2016, has achieved a compound annual growth rate of over 120% in sales over the past five years, with monthly sales reaching nearly 25,000 units as of 2025 [5]. Market Context - The collaboration between GAC Lingcheng and Geely Remote is seen as a strategic move to break regional market barriers and seek new growth opportunities in the competitive landscape dominated by players like BYD and Yutong in the Guangdong market [2][3][5]. - The commercial vehicle market in China is experiencing structural adjustments, with a shift towards low-speed growth and increasing competition in the new energy sector [8][9]. Strategic Implications - GAC Lingcheng's "light asset" strategy aims to minimize research and development costs by leveraging partnerships rather than solely relying on internal development, which is crucial given its limited R&D budget [4][6]. - The partnership is expected to enhance GAC Lingcheng's product offerings in the VAN and bus segments, where it currently lacks a strong foundation [3][4]. Technological Collaboration - The cooperation includes the development of methanol electric power applications, with Geely Remote being one of the few companies in China to focus on this technology, which has the potential to address energy infrastructure challenges in the region [6][8]. - The collaboration is positioned to utilize GAC's local resources to reduce market entry costs for Geely Remote in key cities like Guangzhou, enhancing their competitive edge [6][8]. Industry Trends - The trend of collaboration among commercial vehicle manufacturers to share the costs and risks associated with new energy transitions is becoming more common, as seen in recent partnerships across the industry [9].

Core Viewpoint - GAC Commercial Vehicle has officially established GAC Lingcheng New Energy Commercial Vehicle Co., Ltd, launching its first new energy "full-domain pickup" concept vehicle, GAC PICKUP 01, along with various innovative technologies and strategies aimed at transforming into intelligent new energy commercial vehicles [1][2] Group 1: Company Development - GAC Lingcheng is a restructured entity from GAC Hino, which was established in 2007 and previously held a significant market share in the high-end heavy truck sector [1] - GAC Group has increased its stake in GAC Lingcheng to 89.72%, while Hino's share has decreased to 4.83% [1] - The company aims to achieve a revenue target of 30 billion yuan by 2030 as part of its "135" development strategy [1] Group 2: Technological Innovations - GAC Lingcheng emphasizes that the electrification of commercial vehicles is a systemic revolution rather than a simple replacement of power systems [2] - The Deepsky microcrystalline cell, designed specifically for commercial vehicles, boasts innovations that ensure "zero ignition, zero explosion" [2] - The GAIA adaptive intelligent architecture supports multiple power forms, addressing the challenges of adapting commercial vehicles to various scenarios [3] Group 3: Market Strategy - GAC PICKUP 01 is positioned to compete directly with international rivals like Toyota Hilux and Ford Ranger, targeting key markets such as Australia, Saudi Arabia, Chile, and Mexico before entering the domestic market [4] - The company plans to leverage GAC's sales network across over 70 countries to facilitate its entry into the global pickup market, which has an annual sales volume exceeding 6 million units [3][4] Group 4: Financial Strategy - GAC Lingcheng is actively seeking capital support and has engaged with multiple investors to optimize its capital structure over the next five years [5] - The company is pursuing the issuance of asset-backed securities (ABS) and aims to introduce strategic investors to enhance its equity structure, with plans to initiate an IPO within three years [5]