专题：2025广州国际车展 李斌强调，换电只有一次能量损耗，就是10%多的成本优势，"它是能源方面的事情，有时候和汽车还 不完全是一回事。"他表示，今天去辩论没有太大意义，交给时间，祝大家都好运。 新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点或证实其描述。 责任编辑：李昂 新浪科技讯 11月21日上午消息，今日在广州车展上，蔚来汽车创始人、董事长、CEO李斌向新浪科技 等表示，也希望大电池增程卖得好。"我发自内心希望中国的汽车公司在全球都有好的市场表现，他们 有好的市场表现了，我们也才有机会，其实在这个过程中，充电网络也会建起来。" 李斌表示，根据用户密度，蔚来会把换电网络逐步布起来，而且换电在全球大部分地方还有个非常大的 优势，它是个储能设施，全球的能源网络、电网，很少像中国这么好，很多地方其实电网非常脆弱，分 布式的能源设施是非常有益的，所以蔚来一直在研究光储充换一体的储能站。 ...

蔚来蔚来创始人、董事长兼CEO李斌今日在广州车展上表示，欢迎更多的汽车厂商以及像宁德时代这样 的行业巨头，进入到换电领域。 责任编辑：王翔 李斌称，这对整个行业肯定是好事，蔚来乐于看到大家加入到换电的这个技术路线里面。事实上过去两 年，蔚来也跟多家汽车公司达成了框架的合作，愿意把充换电网络开放给整个行业。 专题：2025广州国际车展 他表示，希望整个行业一起合作，合作永远都是最好的选项。蔚来和宁德时代在各个方面都有这种战略 的合作，所以在换电网络的资源共享、技术共享方面，也会一直保持合作。 ...

Core Viewpoint - The company, Cao Cao Travel (02643), has entered into a marketing service framework agreement with Yiyi Internet, aimed at promoting battery swapping services in China from January 1, 2026, to December 31, 2028 [1] Group 1: Agreement Details - The agreement is set for a duration of three years, focusing on marketing services related to battery swapping operations [1] - The collaboration is expected to leverage the company's driver base and ecosystem resources to enhance the promotion and user adoption of battery swapping services in cities where the company operates [1] Group 2: Expected Outcomes - The partnership is anticipated to improve operational synergies and increase energy replenishment efficiency, thereby enhancing the value proposition for drivers [1] - It aims to strengthen user engagement with the company's travel services and support a broader electrification ecosystem [1] Group 3: Financial Terms - The pricing arrangements within the agreement reflect relevant costs and market practices, established under normal commercial terms [1]

Core Viewpoint - The company, Cao Cao Travel, has entered into a three-year marketing service framework agreement with Yiyi Interconnect, aimed at promoting battery swapping services in China, which is expected to enhance operational synergies and user engagement [1] Group 1: Agreement Details - The marketing service framework agreement will commence on January 1, 2026, and will last until December 31, 2028 [1] - The agreement involves providing marketing services to Yiyi Interconnect and/or its contacts regarding battery swapping services [1] Group 2: Expected Benefits - The collaboration is anticipated to leverage the company's driver base and ecosystem resources to support the promotion and user adoption of battery swapping services in operational cities [1] - It is expected to improve energy replenishment efficiency, thereby enhancing the value proposition for drivers and increasing user participation in the company's travel services [1] - The agreement reflects standard commercial terms and pricing arrangements based on relevant costs and market practices [1]

智能车参考 . 追踪车圈先进技术|好用产品|新进展和认知 以下文章来源于智能车参考 ，作者有据无车 截至目前， 蔚能已在5年间融资至少14.2亿元。 文 ｜ 杰西卡 来源｜ 智能车参考（ID：AI4Auto） 封面来源 ｜ IC photo 斌哥又又又融到钱了。 蔚来旗下的电池业务公司，打造换电站业务的 蔚能 ，刚刚宣布完成了C轮 6.7亿元 融资。 截至目前，蔚能闷声干大事，已在5年间融资至少 14.2亿元 。 蔚能融资6.7亿元 刚刚，武汉蔚能电池资产有限公司 （以下简称"蔚能"） 宣布，公司已完成 6.7亿元 的C轮股权融资。 本轮融资，由蔚能创始股东追加投资，包括宁德时代子公司，同时新进引入海宁经开、海南澄迈两家 国有资本股东 。 据蔚能表示，筹集到的资金，将主要用于电池资产相关业务投放、技术研发迭代等。 截至目前，蔚能已经完成了四轮融资，投资者除了蔚来、宁德时代，还有湖北科投等一众国有资本，累计融资金额已 超14.2亿元 ： 制表：智能车参考；信息来源：企查查 简单来说，蔚能是拥有电池资产的所有权，并通过订阅服务租给用户，提供车电分离、电池租用、可充可换可升级的全面服务。 也就是说，蔚能是蔚来汽车推 ...

Core Insights - NIO's stock rose over 3% to $7.11 following the announcement of reaching the 90 millionth battery swap service milestone [1] - The time taken to reach the 90 millionth swap was significantly reduced, taking only 100 days from the 80 millionth to the 90 millionth, compared to 1506 days from the first to the 10 millionth [1] Production and Delivery Updates - NIO plans to increase the production capacity of the new ES8 to 15,000 units by December this year, but customers who order now will have to wait until April next year for delivery [1] - The ES9 model is set to be released in the second quarter of next year, and if customers' ES8 orders are not fulfilled by then, there is a high likelihood that those orders can be converted to the ES9 model [1]

Core Viewpoint - The article discusses the legal issues surrounding NIO's subsidiary, Wuhan WeNeng, and the implications of its financial practices, particularly regarding revenue recognition and control over assets [1][3]. Group 1: Company Structure and Ownership - Wuhan WeNeng was established in 2020 by NIO, CATL, Hubei KET, and Guotai Junan, with each holding a 25% stake initially. After several rounds of capital increases, NIO became the largest shareholder with a 19.4% stake, while CATL and Hubei KET hold 10.6794% each [1]. - The legal structure does not require consolidation, leading to questions about the depth of involvement from other investors, with NIO being the primary operator [1][5]. Group 2: Revenue Recognition Issues - The lawsuit claims that NIO recognized a one-time revenue of 70,000 RMB for battery sales instead of recognizing monthly rental income of 728 RMB, which allegedly inflated NIO's 2020 earnings and stock price [3]. - GIC, a major sovereign wealth fund, is seeking compensation for losses incurred from its investment in NIO, which has seen a significant decline in stock value from a peak of over $60 to around $6 [3][5]. Group 3: Legal and Regulatory Context - GIC argues that NIO's disclosures were selective and incomplete, particularly regarding the control over WeNeng and its financial risks [5]. - NIO maintains that its operations comply with accounting standards, and previous investigations by the SEC did not find any wrongdoing [5][6]. Group 4: Market and Economic Model - The battery leasing model employed by WeNeng is considered economically viable, with predictions suggesting a five-year cost recovery period [6]. - The article suggests that the lawsuit reflects broader concerns about financial practices in Chinese companies, particularly in the context of foreign investments [6][9].

Core Viewpoint - CATL is shifting its business model from traditional battery sales to a comprehensive service model that includes battery leasing, battery swapping services, and lifecycle management, marking a significant transformation in its approach to the battery aftermarket [8][9][10]. Group 1: Strategic Partnerships and Market Entry - CATL is bypassing traditional automotive dealerships and directly selling electric vehicles through e-commerce platforms, indicating a critical phase in its Battery-as-a-Service (BAAS) business model [3][4]. - A new electric vehicle will be launched in collaboration with GAC Group and CATL's battery swapping service brand, EVOGO, exclusively on JD.com, coinciding with the major online shopping festival "Double Eleven" [5][6]. - GAC Group is the first automaker to fully cooperate with CATL, planning to introduce battery swapping standards in multiple models, including the AION UT, which features a 54 kWh battery and a range of 500 kilometers [6][12]. Group 2: Business Model Transformation - The collaboration aims to transform CATL's one-time battery sales into a sustainable cash flow business through battery leasing and swapping services [9][10]. - By bundling vehicle sales with battery subscription services on e-commerce platforms, CATL can secure high-repurchase rate businesses in battery leasing and swapping [10][13]. - The choice of JD.com as the exclusive sales channel is strategic, leveraging its large user base and efficient logistics to test market acceptance of the "car-battery separation" model [10][11]. Group 3: Market Impact and Future Prospects - If the battery swapping package model receives positive market feedback through e-commerce channels, it could open a new direct-to-consumer business path for battery manufacturers [13]. - This shift may also reshape the long-standing profit distribution dynamics between automakers and battery suppliers [14]. - As of August 2025, CATL's battery swapping network has established 512 operational stations across 34 cities, indicating a growing regional network effect [12].

Core Viewpoint - The transformation of traditional gas stations into comprehensive energy stations is crucial for the energy industry's development, especially in the context of the popularization of new energy vehicles and the advancement of "dual carbon" goals. China Petroleum & Chemical Corporation (Sinopec) is leading this transformation in Beijing by integrating hydrogen, electricity, and gas services to enhance urban green travel and economic development [1][2]. Group 1: Strategic Development - Sinopec Beijing Petroleum is implementing an integrated strategy of "oil, gas, hydrogen, electricity, and services" to adapt to the changing energy landscape and urban planning needs [2]. - The company has achieved a significant milestone by expanding its charging network from zero to full coverage in Beijing within two years, with 114 operational charging stations and 2,771 charging terminals as of August 2025 [2][5]. - The focus is on increasing the proportion of charging and hydrogen refueling services while ensuring the stability of traditional fuel operations, thus promoting a dual development model [2][6]. Group 2: Infrastructure and Technology - The establishment of the first oil-hydrogen integrated energy station in southern Beijing serves various vehicle types, including heavy-duty trucks, and is a key node in the hydrogen energy corridor [3]. - Technological upgrades have significantly improved charging efficiency, with the average waiting time at charging stations reduced from four hours to a much shorter duration, achieving the goal of "one cup of coffee, full charge" [4][5]. - The introduction of advanced charging technologies, such as Huawei's liquid-cooled ultra-fast charging, allows for charging power up to 600 kW, enhancing the overall charging experience [5][6]. Group 3: Future Plans and Innovations - Beijing Petroleum plans to further expand its charging terminal network to meet the growing demand for electric vehicle charging, aiming for comprehensive coverage within 3 kilometers of urban centers and accessibility in surrounding villages [6]. - The company is exploring new energy replenishment methods, including partnerships with leading firms to develop integrated solar-storage-charging stations, which will optimize operational costs and enhance clean energy utilization [6]. - Future initiatives also include trials of wireless and autonomous charging technologies to provide customized energy solutions for logistics and smart parking scenarios [6].

Core Viewpoint - Nanjing Public Development Co., Ltd. has terminated its cash acquisition of 68% stake in Hangzhou Yugu Technology Co., Ltd. due to failure to reach an agreement on transaction terms after nearly nine months of planning [1][3]. Group 1: Acquisition Details - The acquisition was initially announced in December 2024, with plans to purchase the stake through a combination of share issuance and cash payment, along with raising supporting funds [3]. - In July 2024, the company decided to change the acquisition method to a cash purchase after considering strategic planning, capital market conditions, and various stakeholder demands [3]. - Yugu Technology, established in 2012, specializes in battery swapping services and equipment for electric two-wheelers, reporting revenues of 559 million yuan and 902 million yuan in 2022 and 2023, respectively [3]. Group 2: IPO Attempts - Yugu Technology previously attempted an IPO on the ChiNext board, which was accepted in June 2023 but was terminated in June 2024 after two rounds of inquiries [4]. - The termination of the acquisition by Nanjing Public signifies another failure for Yugu Technology in its pursuit of a public listing [4]. Group 3: Nanjing Public's Financial Performance - Nanjing Public operates in various sectors, including real estate development, pipeline gas, and transportation, with significant revenue contributions from gas sales and real estate [6]. - The company's revenue has fluctuated significantly in recent years, with reported revenues of 3.589 billion yuan, 7.113 billion yuan, 4.632 billion yuan, and 6.569 billion yuan from 2021 to 2024 [7]. - The net profit has shown a downward trend, with figures of 98.65 million yuan, 60.53 million yuan, -90.27 million yuan, and 45.92 million yuan over the same period [7].