事实上，在今年5月的财报说明会上，日产新任CEO伊万·埃斯皮诺萨曾被问及通过生产本田车型来活用美 国工厂的问题，他当时表示："正在探讨在美国市场开展合作的可能性。"《日刊汽车新闻》指出，若合作达 成，预计将为两家公司带来一定益处，处于经营重组中的日产需要提高工厂的开工率，而本田也能完善自身的 车型产品线。目前，本田在北美销售皮卡Ridgeline，如果能获得日产的代工，本田有望满足当地更广泛的需 求。 值得一提的是，此前在2024年12月下旬，日产与本田宣布签署谅解备忘录，启动经营合并谈判。不过，谈 判最终于今年2月破裂，但双方仍表示将继续在电动汽车等领域保持合作。尤其是在美国加征进口汽车关税的背 景下，日本车企需要努力增加在美国本土的产量，以尽量减少关税带来的影响。 近日，NHK、《日本经济新闻》、路透社等多家外媒报道称，日产与本田已开启谈判，探讨在美国利 用日产工厂的剩余产能为本田代工生产皮卡的可能性。 对此，日产发表声明称，公司正继续与本田合作，但没有其他进一步的消息，也不会对猜测发表评论。本 田方面则没有立即置评。 或联手应对关税 据知情人士透露，日产与本田正在探讨，利用日产在美产能利用率较低的工厂为 ...

2025.07. 02 本文字数：889，阅读时长大约2分钟 作者 | 第一财 经 黄琳 尽管经营形势严峻，但日产仍在积极寻求与合作方探索突围路径。近日，东风汽车集团股份有限公司 （00489.HK，下称"东风汽车"）公告称，公司与日产（中国）投资有限公司（NCIC）签立合资合 同，双方同意成立一个新的合资公司，主要涉及汽车出口业务。 根据协议，双方将合作向协商一致的海外市场出口汽车、零部件及配件，合资公司的成立将使双方于 汽车出口业务发挥其财务资源及供应链能力。新合资公司注册资本为10亿元，其中NCIC出资60%， 东风汽车出资40%，合资合同期限为28年。目前新合资公司的设立正在推进，包括必要的监管审批 等，详细的时间表或更具体的信息仍待官方公告。 在此次联手前，东风汽车已与NCIC合资成立了东风汽车有限公司、易捷特新能源汽车有限公司。可 以明确的是，新合资公司成立的背后，两大股东均对海外市场有出口需求。2023年，东风汽车有限 公司官宣"启DNA+"战略，主动开展出口业务，从2025年开始启动，初步设定的出口销量目标为10 万辆，其中包含四款日产品牌的新能源汽车。 "黄金平替"，单日大跌6%！ 今年的上 ...

Group 1 - Nissan and Dongfeng Motor Group have signed a joint venture agreement to establish a new company focused on automotive export business, with a registered capital of 1 billion yuan, where NCIC contributes 60% and Dongfeng contributes 40% [1] - The new joint venture aims to leverage financial resources and supply chain capabilities for exporting vehicles, parts, and accessories to agreed overseas markets, with the contract lasting for 28 years [1] - Dongfeng Motor has set an export sales target of 100,000 vehicles starting in 2025, including four models of Nissan's electric vehicles, as part of its "启DNA+" strategy [1] Group 2 - Nissan is launching a new global strategy, with plans to start exporting the Dongfeng Nissan N7 and Zhengzhou Nissan Frontier Pro PHEV within a year, focusing on differentiated strategies through its global dealer network [2] - The competitive landscape for electric vehicles in China is intensifying, prompting more domestic and joint venture brands to seek opportunities abroad, with companies like Yueda Kia and Changan Mazda achieving significant sales growth through exports [2] - Nissan's performance has been declining, with a projected net loss of 670.9 billion yen for the fiscal year ending March 31, 2025, compared to a profit of 426.6 billion yen in the previous fiscal year, and a drop in annual sales in China from over 1.13 million units in 2021 to 690,000 units in 2024 [2]

Policy and Regulations - The Ministry of Commerce has announced the organization of the 2025 New Energy Vehicle Consumption Season, encouraging local participation and infrastructure development for electric vehicles [6][7][8] - Six departments proposed to reduce penalties for early loan settlements during vehicle trade-ins, aiming to stimulate car sales [9][10] - The Ministry of Industry and Information Technology has initiated a safety inspection for new energy vehicles, focusing on product quality and safety systems [11][12] Market Insights - In Mexico, from January to May 2025, pickup truck sales reached 97,000 units, marking a year-on-year increase of 4.9% [15][16] - The demand for Mexican pickups is primarily for gasoline, two-wheel drive, double cab, manual transmission, and five-seat configurations [19][21] - Japanese and American brands dominate the Mexican pickup market, with significant growth from Chinese brands [23][24] Company Monitoring - Great Wall Motors launched the G1050 hybrid flagship truck, featuring advanced hybrid technology and a price range of 536,600 to 616,600 CNY [28][30] - Changan's V919 model was officially launched, with a price range of 89,900 to 225,900 CNY, targeting both freight and passenger markets [31][32] - Remote New Energy introduced the X7E+X3E pure electric mother vehicle, emphasizing lightweight design and efficient energy use [35][36]

Core Insights - The rise of "boxy cars" is redefining the value logic of the SUV market, moving from niche appeal to mainstream popularity as they attract consumers with their unique design and functionality [2][3] - The shift in consumer lifestyle towards urban commuting and outdoor activities has led to the emergence of "light off-road" positioning for these vehicles, catering to both family travel and adventure needs [2][3] Market Trends - The market penetration rate of "boxy cars" is expected to grow from 2.1% in 2024 to 3.5% in 2025, with sales projected to exceed 800,000 units [4] - The trend towards "democratization" of these vehicles is evident, with models like the Jietu Traveler priced at 139,900 yuan and expected to achieve sales of over 100,000 units in 2024, representing 17.6% of the brand's total sales [3][4] Consumer Preferences - A significant 47% of consumers prioritize "unique design" when purchasing "boxy cars," surpassing the importance of brand premium (23%) and technological features (18%) [6] - The demand for "boxy cars" reflects a desire for both functionality and individuality, with consumers seeking vehicles that can perform in various scenarios while also expressing personal style [7][8] Technological Advancements - The electric wave is revitalizing "boxy cars," with models like iCAR V23 featuring an 81.76 kWh battery and a range of 501 km, serving as a "mobile power station" for outdoor activities [3][8] - Modular platforms are crucial for the production of "boxy cars," allowing for compatibility with various power systems and rapid market response, exemplified by the iCAR V23's 18-month development cycle [8] Cultural Integration - "Boxy cars" are evolving from mere transportation tools to emotional symbols, integrating cultural elements into their design, such as the 吉利银河战舰's incorporation of traditional Chinese aesthetics [7] - The trend of co-creation in vehicle customization is gaining traction, with brands offering extensive modification options that allow users to personalize their vehicles, fostering a unique community culture [7][8] Future Outlook - The competition in the "boxy car" market is shifting from product-based to ecosystem-based, emphasizing the importance of creating rich user experiences and diverse scenarios [8] - The popularity of "boxy cars" signifies a broader transition in the automotive market from functional consumption to emotional consumption, reflecting changing consumer values and technological advancements [8]

Core Insights - The 2025 Shanghai Auto Show has set multiple records in terms of scale, exhibitors, and technological displays, attracting nearly 1,000 renowned companies from 26 countries and regions, with a total exhibition area exceeding 360,000 square meters, showcasing the vitality of the global automotive industry [1] - A notable phenomenon at the show is the coexistence of a "star-studded lineup" and "strategic absences," with major brands like Volkswagen, Mercedes-Benz, and Toyota participating, while several foreign brands, including Hyundai and Kia, are absent, indicating a significant transformation in the automotive industry [2][3] Industry Dynamics - The absence of over 20 automotive brands, including Hyundai, Kia, and Jaguar Land Rover, highlights the challenges faced by foreign brands in the Chinese market, reflecting a broader industry reshuffle [2][3] - The German brands lead the market with a sales volume of 4.04 million units, capturing 17.6% market share, while Korean brands collectively sold only 234,000 units, shrinking to a mere 1.0% market share [4] - Beijing Hyundai's sales have plummeted from a peak of 1.14 million units in 2016 to just 154,000 units in 2024, marking a 33% year-on-year decline [5] Strategic Responses - Companies like Beijing Hyundai are exploring new strategies, such as off-peak product launches to avoid competition and gain attention, while also focusing on local partnerships to enhance their product offerings [12] - Nissan has showcased its commitment to the Chinese market by launching innovative models like the Frontier Pro PHEV and N7, emphasizing the importance of local development and market responsiveness [9] - Domestic brands like BYD and Geely are expanding their exhibition presence, reflecting strong market performance, with BYD achieving over 1 million sales in the first quarter [8] Future Outlook - The automotive industry is undergoing a significant transformation, with the survival of brands dependent on continuous innovation and adaptation to market changes, as evidenced by the contrasting fortunes of participating and absent companies at the auto show [10][13] - The 2025 Shanghai Auto Show serves as a mirror reflecting the harsh realities of the automotive industry, where only those who continuously innovate can maintain their competitive edge [13]

Core Insights - The 2025 Shanghai International Automobile Industry Exhibition serves as a platform for showcasing new vehicles and highlights the intense competition in the smart electric vehicle era [3][4] - The penetration rate of L2-level assisted driving new cars in China reached 65% in the first quarter of 2025, pushing all players to turn their PPT technologies into tangible user experiences [3] - The exhibition reflects the automotive industry's survival rules, where electrification is the entry ticket and intelligence is the lifeline, with Chinese consumers becoming the ultimate judges of global technology routes [3] Industry Trends - Domestic brands prominently featured intelligent electric technology as their core competitive advantage at the exhibition, with various new electric products launched [5] - SAIC Group emphasized that all new technologies will first be implemented in its IM car brand, showcasing innovations like the "steer-by-wire digital chassis technology" [5] - Dongfeng Motor introduced its "Tianyuan Intelligent" technology brand, offering a range of solutions from NOA assisted driving to L4 and L5 level autonomous driving [6] Product Launches - NIO's second model under the brand "Ladao," the L90, was unveiled and is set for delivery in Q3 2025, while Li Auto launched the Li MEGA and Li L6 models [8] - SAIC Group announced plans to introduce 17 new overseas models over the next three years, indicating a strong focus on international markets [8] - Volkswagen showcased over 50 models, including 7 global debuts, emphasizing its commitment to smart connected vehicles [9] Localization Strategies - Foreign brands are increasingly focusing on localization, with Porsche announcing a strategic upgrade of its China R&D center and Nissan unveiling its first globally designed and produced plug-in hybrid pickup truck [10] - Ford introduced the new F-150 Raptor and Lincoln's new Navigator, indicating a continued investment in both electric and traditional fuel vehicles [10] Supply Chain Developments - Bosch plans to launch an "end-to-end" model for assisted driving solutions by the end of the year, reflecting the growing demand in the Chinese market [11] - Chip manufacturer Chipsea Technology introduced an AI cockpit SoC chip, with plans for mass production in 2026 [11] - CATL showcased new battery technologies, including the "Xiao Yao Dual-Core Battery" and "Sodium New Battery," highlighting advancements in the power battery sector [12] Historical Context - The 2025 Shanghai Auto Show marks the 40th anniversary of the event, symbolizing the evolution of China's automotive industry from a technology follower to a leader in electrification and intelligence [12]