Core Viewpoint - Zeekr has officially unveiled its new flagship SUV model, Zeekr 9X, during the Haohan-S architecture and Zeekr 9X technology launch event, showcasing advanced technologies including "Haohan Super Electric Hybrid," "Haohan AI Digital Chassis," and "Qianli Haohan Intelligent Driving Assistance" [1][3]. Group 1: Powertrain and Performance - The Zeekr 9X features the Haohan Super Electric Hybrid system, which is a dedicated hybrid technology developed on a pure electric architecture, achieving a peak power output of 1030 kW (approximately 1400 horsepower) [3]. - All variants of the Zeekr 9X can accelerate from 0 to 100 km/h in under 3 seconds, with only a 0.2-second difference in acceleration time between fully charged and depleted states, ensuring consistent performance for users [3]. - The system is paired with a 2.0T hybrid-specific engine that boasts a thermal efficiency of over 46%, optimizing fuel economy while maintaining power [3]. Group 2: Chassis and Comfort - The Zeekr 9X is equipped with the Haohan AI Digital Chassis, which includes closed dual-chamber air suspension, CCD electromagnetic dampers, and a 48V active stabilizer bar, aimed at enhancing vehicle stability during high-speed cornering and overall driving comfort [4]. - The intelligent chassis has strong all-terrain adaptive capabilities, intelligently matching various complex road conditions such as deep snow and mud, and can control body deviation within 20 cm under 100 km/h crosswind conditions [4]. Group 3: Safety Features - The vehicle incorporates the "Haohan Safety Armor" body structure, achieving a torsional rigidity of 41600 Nm/degree, with over 91% of high-strength steel and aluminum alloy used in its construction [4]. - The launch emphasized four industry-first integrated structures, including an integrated hot-formed door ring and an integrated die-cast aluminum rear body, further enhancing passive safety performance [4]. Group 4: Intelligent Driving - The Zeekr 9X will debut the "Qianli Haohan H9" intelligent driving assistance system, featuring a unique five-laser radar perception scheme for 360-degree coverage [4]. - It is powered by dual NVIDIA Thor-U driving chips, providing a total computing power of 1400 TOPS, laying the hardware foundation for L3-level intelligent driving assistance [4]. - The system employs a unique "dual end-to-end large model" algorithm, supplemented by a safety adversarial model, creating a dual redundancy guarantee in its algorithms [4]. Group 5: Market Launch - The Zeekr 9X is set to officially start pre-sales at the Chengdu Auto Show at the end of August this year [8].

汽车 2025 年 06 月 12 日 比较研究系列 从财报看三类车企有何新变化趋势 强于大市（维持） 行情走势图 证券分析师 王德安 投资咨询资格编号 S1060511010006 BQV509 WANGDEAN002@pingan.com.cn 王跟海 投资咨询资格编号 S1060523080001 BVG944 WANGGENHAI964@pingan.com.cn 平安观点： 行 业 报 告 行 业 深 度 报 告 证 券 研 究 报 告 民营车企：盈利韧性强，2025 年加速辅助驾驶平权。高端化突破、出口 占比提升、新能源车规模效应凸显使得主要民营车企体现较强盈利韧性。 高端化战略成效显著，盈利能力持续提升，赛力斯依托问界系列热销，长 城汽车凭借坦克、皮卡等核心品牌。海外市场贡献可观利润。新能源车领 域，比亚迪凭借规模优势及产业链优势，保持较高单车盈利，吉利汽车凭 业务聚焦与新能源车业务迈入规模效应期实现盈利回暖。2025 年以比亚 迪、吉利为代表的民营车企成为推动高速辅助驾驶下沉并普及的主力军。 新势力车企：自我造血迫切性提升，新一轮产品验证成长性。理想汽车盈 利能力依然稳健，零跑、小鹏毛利率改善 ...

合资车企在中国市场的智能化转型，成为今年上海车展的一大看点。尤其对中国市场依赖深重，市占份额动辄超过3成的德系车企。 大众显然是最为积极的跨国车企之一。车展上，大众中国CTO吴博锐（Thomas Ulbrich ） 和 大众智能化软件公司CARIAD中国CEO韩三楚接受了36氪等媒 体采访，进一步梳理了在中国的智能化战略，以及与合作伙伴的角色定位和分工。 吴博锐向36氪明确表示，大众集团之前在中国的合资模式，已经难以适应中国市场发展节奏。 "之前的合作仅仅是在德国方面和两家合资企业（南北大众）之间展开，这种合作方式无法适应中国市场当前的实际需求。"吴博锐说。 2022年，大众集团向地平线投资24亿欧元，并且成立智能辅助驾驶合资公司酷睿程。 左一：韩三楚，左二：吴博锐 因此，大众集团在安徽成立了独立技术公司VCTC，俗称将总部狼堡向东迁移了7000公里。 吴博锐说，随着VCTC的成立，以往由德国狼堡总部掌握的全部技术权限与职责将转移至中国。这意味着，未来南北大众等合资企业在技术合作层面，仅需 与VCTC对接，VCTC将成为其唯一的技术合作接口。 简单来说，VCTC 是独立于德国狼堡总部之外、具备技术决策权和验证 ...

4 月 24 日，奥迪新品牌 AUDI 携手全球领先的智能驾驶公司 Momenta 正式宣布，联合打造 行业首个 " 德系电动豪华标准 + 飞轮大模型 " 智能 辅助驾驶方案 ，共同定义豪华智能辅助驾驶标准，打造豪华智能辅助驾驶新范式。 Momenta加速扩展全球"朋友圈" 随着携手全新品牌 AUDI 共同打造智能辅助驾驶方案， Momenta 的全球"朋友圈"阵容再添一名明星伙伴。目前， 在全球 TOP10 汽车厂 商中，与 Momenta 开展业务合作的已经占到 70% ，真正成为"全球品牌的共同选择"， 充分展现出了在全球智驾行业内的强大影响力及 受认可程度。 在 " 锐启新境 "2025 上海国际车展上汽奥迪发布会上， Momenta CEO 曹旭东表示："奥迪一直秉持 ' 美美与共 ' 的合作理念。在智能化领域， Audi DNA meets China innovation ，我们双方的合作正是 德系豪华驾控和中国 AI 智慧的深度融合 。 " 01 飞轮大模型赋能AUDI Driving DNA Momenta 作为业内首个发布量产飞轮大模型的企业，创新性地将感知与规划整合进一个大模型中，形成一 ...