Core Insights - The emergence of range-extended electric vehicles (REEVs) at the 2025 Chengdu Auto Show highlights a shift in the automotive industry towards longer pure electric ranges and improved refueling efficiency, alongside advancements in intelligent driving and cockpit technologies [1][2] Group 1: Market Trends - REEVs are gaining traction among various automakers, including GAC Haobo, Avita, and Chery, indicating a broader acceptance of this technology despite previous controversies [1][2] - The sales of REEVs are projected to reach 1.167 million units in 2024, marking a year-on-year increase of 78.7%, outpacing both pure electric and plug-in hybrid vehicles [3] - The market for REEVs is becoming increasingly competitive, with both traditional and new energy vehicle manufacturers launching new models to meet consumer demand [2][3] Group 2: Technological Developments - GAC Haobo's HL range-extended version features a pure electric range of 350 kilometers and a total range of 1,369 kilometers, utilizing a 60 kWh battery from CATL [2] - The Zhiji LS6, equipped with self-developed range-extending technology, boasts a pure electric range exceeding 450 kilometers and a total range of 1,500 kilometers, with advanced features such as an 800V high-voltage platform and NVIDIA Thor for assisted driving [2] - The simplicity of the REEV system compared to plug-in hybrids allows for easier scaling in production and lower development costs, making it an attractive option for manufacturers [3] Group 3: Consumer Acceptance - The dual-fuel capability of REEVs alleviates consumer concerns regarding range anxiety, leading to a willingness to pay a premium for these vehicles [3] - The integration of advanced technologies in REEVs is seen as a response to market demands, with expectations that sales of REEVs and plug-in hybrids will exceed 8 million units by 2025, accounting for nearly 50% of the new energy vehicle market [3][4]

Core Insights - The 2025 Chengdu Auto Show highlighted the growing interest in range-extended electric vehicles (REEVs), showcasing models with longer pure electric ranges and improved refueling efficiency, alongside advancements in intelligent driving and cockpit technologies [1][2][4] Industry Trends - The trend of adopting range-extended technology is evident as more automakers, including GAC Haobo, Avita, and Chery, launch REEVs, reflecting a shift in the industry towards this technology despite previous controversies [1][5] - The market for REEVs is expanding rapidly, with sales projected to reach 1.167 million units in 2024, marking a year-on-year growth of 78.7%, outpacing pure electric and plug-in hybrid vehicles [5][6] Technological Developments - REEVs are equipped with advanced technologies, such as the GAC Haobo HL range-extended version featuring a 60 kWh battery and smart hardware, and the Zhiji LS6 with a 450 km pure electric range and 800V high-voltage platform [2][3] - The technology behind REEVs is seen as less complex and more cost-effective compared to fully electric platforms, allowing for easier scaling in production [6][7] Market Dynamics - The increasing number of players in the REEV market is making the segment more competitive, with traditional and new energy vehicle manufacturers alike responding to market demands [4][5] - The acceptance of REEVs in the high-end market is demonstrated by brands like Li Auto and Aito, which have shown that consumers are willing to pay a premium for vehicles that alleviate range anxiety [5][6] Future Projections - The market for REEVs and plug-in hybrids is expected to grow significantly, with projections indicating that by 2025, sales could exceed 8 million units, accounting for nearly 50% of the new energy vehicle market [7]

Core Viewpoint - The 2025 Chengdu International Auto Show highlights the dominance of domestic brands in the Chinese automotive industry, showcasing a significant transformation characterized by electrification and intelligent technology [3][10]. Group 1: Dominance of Domestic Brands - Domestic brands have taken a leading position at the Chengdu Auto Show, with BYD prominently featuring a strong lineup of models and advanced technologies [5][10]. - Chery showcased its five brands and 31 models, emphasizing lifestyle experiences that resonate with local culture [7]. - New state-owned enterprise Changan presented a comprehensive technology matrix through collaborations with Huawei and CATL, aiming for an annual sales target of 3 million vehicles [9]. Group 2: Absence of Luxury Brands - Major luxury brands such as Rolls-Royce, Bentley, and Porsche were notably absent from the show, indicating a shift in market dynamics [9][10]. - The absence of these brands further emphasizes the rise of domestic manufacturers and their growing influence in the market [10]. Group 3: Diverse Technology Routes - The auto show featured a variety of new energy vehicle technologies, including pure electric, plug-in hybrid, and range-extended models, creating a competitive landscape [11][12]. - Significant advancements in battery technology and vehicle performance were highlighted, with models achieving impressive ranges and efficiency [11][12][13]. Group 4: Market Trends and Adaptation - The automotive market is witnessing a trend towards "scene segmentation" and "technology downscaling," with companies focusing on user-specific scenarios [15][16]. - The penetration rate of new energy vehicles has reached around 50%, indicating a stable market for both electric and traditional fuel vehicles [16]. Group 5: Industry Transformation - The Chinese automotive industry is undergoing a profound transformation, with domestic brands increasingly challenging traditional Western products [17]. - The need for brands to rebuild emotional connections with consumers has become a critical focus for all manufacturers in this evolving landscape [17].