"我认为超长纯电续航增程短期内是锐减的。"邓承浩表示，在这场电动化里，消费者对于其用车场景的 理解度变深，这是中国电动化市场成熟的标志。 新能源汽车免征车辆购置税已进入倒计时，明年起将减半征收。邓承浩认为，大势不可违，这一变动对 今年汽车市场的销量不一定会有明显的效果，反而会让明年有更多的机会。 新京报贝壳财经讯（记者王琳琳）11月21日，广州车展开幕，深蓝汽车旗下包括刚刚上市的深蓝L06、 深蓝S09等车型悉数亮相。深蓝汽车董事长邓承浩在接受新京报贝壳财经等媒体采访时表示，增程不是 过渡技术，增程技术有很好的使用场景和特点。"很多消费者有长距离的使用需求，因此我们判断2035 年中国汽车市场仍会保留相当规模的燃油车车型，场景需求决定了这部分用户的选择。针对这类长距离 出行需求，这部分用户可转向增程或插混车型。事实上，增程与插混车型正是为满足长距离使用场景而 存在的。" ...

Core Insights - The article discusses the sales performance and customer demographics of the Galaxy M9, highlighting the challenges faced in vehicle availability and customer preferences [2][10]. Sales Performance - In a third-tier city, the dealership receives about 20 customer groups daily, with 25% specifically interested in the Galaxy M9. Last month, the dealership delivered 71 vehicles, of which only 7 were M9s, attributed to limited stock and an average waiting time of 45 days from order to delivery [2][3]. - The dealership currently has only 2 vehicles in stock, with the rest being test drive and display models [3]. Customer Demographics - The primary buyers of the M9 are males aged 30 to 55, typically from families of four or five. Many customers are small business owners or management personnel, with 70% trading in older vehicles [4][10]. - Customers who ultimately chose other vehicles often cited two main reasons: the desire to avoid waiting and a preference for the Huawei brand [7]. Competitive Landscape - The most compared models include the Deep Blue S09, AITO M7, and M8, with 60% of customers having considered the Deep Blue S09 [6]. - Customers who initially showed interest in the M9 but switched to other brands often did so due to long wait times or additional costs associated with desired features [8][10]. Customer Preferences - The most popular configurations are the mid-range 230km two-wheel drive Exploration version and the top-range 210km four-wheel drive Navigation version, together accounting for over 80% of sales. Black is the most popular color [16]. - The mid-range 230km two-wheel drive Intelligent Navigation version is the least popular due to the absence of features like a heads-up display and rear seat entertainment [16]. Customer Feedback - Customers have expressed concerns about the reliance on the central touchscreen for many functions, which can be challenging for older users [18][19]. - The estimated maintenance cost for the M9 is around 650 yuan, with a service interval of one year or 10,000 kilometers [21]. Promotions and Financing - The manufacturer offers a super trade-in policy, allowing customers to receive a 10,000 yuan subsidy without needing to own a vehicle, effectively acting as a price reduction [12]. - Financing options include a three-year, 120,000 yuan interest-free loan, which is the most popular choice among customers [14]. Special Offers - Certain professions, such as teachers and firefighters, can benefit from a 2,000 yuan customer subsidy. The installation of electric running boards, initially set to be discontinued, continues to be offered [22].

Core Viewpoint - The launch of the IM LS9 marks a significant milestone for SAIC Motor, showcasing its advanced technology and heritage in the automotive industry, positioning it as a strong competitor in the high-end SUV market [1][3]. Group 1: Product Launch and Market Positioning - The IM LS9 was officially launched on November 12, with two models priced at 322,800 yuan and 352,800 yuan, aiming to be the "strongest flagship product" in the 300,000 yuan segment [3]. - The vehicle achieved over 5,000 pre-orders within 25 minutes of its launch, indicating strong market recognition [3]. - The domestic mid-to-large SUV market has seen a cumulative sales volume of 497,000 units from January to September, with a growth rate of 35.3% [3]. Group 2: Technological Advancements - The IM LS9 features the Lingxi Digital Chassis 3.0 and a dual-motor vector four-wheel drive system, providing superior handling and performance [5][8]. - It boasts an 800V architecture and can accelerate from 0 to 100 km/h in around 4 seconds, comparable to a 4.0T V8 engine [8]. - The vehicle is equipped with L3-level perception capabilities and advanced driver assistance systems, enhancing safety and driving experience [10]. Group 3: Luxury and Comfort Features - The IM LS9 includes innovative luxury features such as zero-gravity seats, a 4D mechanical massage system, and a unique intelligent heating system for enhanced comfort [12]. - It can transform into an outdoor luxury camping setup, appealing to families who enjoy light outdoor activities [12].

Core Viewpoint - Changan Automobile's third-quarter financial report highlights the company's growth in new energy vehicle sales and overseas markets, while facing significant pressure on profitability due to reduced government subsidies and increased sales expenses [1][2][8] Financial Performance - In Q3, Changan's revenue reached 42.236 billion yuan, a year-on-year increase of 23.36%, while total revenue for the first three quarters was 114.927 billion yuan, up 3.58% [2][3] - The net profit attributable to shareholders for Q3 was 764 million yuan, a 2.13% increase year-on-year, but the net profit for the first three quarters decreased by 14.66% to 3.055 billion yuan [2][3] - The non-recurring net profit for Q3 was 542 million yuan, up 5.77% year-on-year, with a cumulative increase of 20.08% for the first three quarters [2][3] - Government subsidies significantly decreased, with a 67.52% drop in the first three quarters, impacting profit margins [3][4] Sales Performance - Changan's total sales in Q3 reached 711,100 units, a 26.8% year-on-year increase, with cumulative sales for the first three quarters at 2.0661 million units, up 8.46% [7] - New energy vehicle sales in Q3 surged by 81.22% to 272,500 units, with a total of 724,000 units sold in the first three quarters, reflecting a 59.72% increase [7] - Overseas exports in Q3 were approximately 166,000 units, a 96.3% year-on-year increase, with total exports for the first three quarters at 465,000 units, up 10.7% [7] Strategic Insights - Changan's investment in technology is beginning to yield results, with gross margins improving to nearly 15% and showing a positive trend [5] - The company is focusing on transforming into a "smart low-carbon travel technology company," with plans to explore advanced fields such as humanoid robots and flying cars [8] - Despite strong sales in new energy vehicles, challenges remain in achieving high-end market penetration, as seen with the sales performance of specific models [6][7]

Core Viewpoint - The article highlights the increasing prevalence of online harassment and "black public relations" in the automotive industry, particularly targeting car owners and brands, leading to a toxic environment for consumers and companies alike [6][9][12]. Group 1: Online Harassment and Its Impact - Dismissive and abusive comments towards car owners have become common, with individuals facing severe online bullying for their vehicle choices, as seen in the case of Ms. Deng who faced threats and insults after purchasing a Xiaomi SU7 [7][8][15]. - The negative sentiment has escalated from online platforms to real-world actions, including vandalism of vehicles, indicating a troubling trend where online aggression translates into physical harm [12][14]. - The automotive sector is witnessing organized campaigns of defamation, with coordinated efforts to discredit certain brands and their customers, often driven by "water army" tactics [9][11]. Group 2: Legal and Corporate Responses - Companies are beginning to take legal action against online harassment, with Ms. Deng successfully suing her harassers and receiving compensation, setting a precedent for others [15][16]. - Automotive brands like Xiaomi are establishing support channels for affected customers, providing legal assistance and gathering feedback to combat online abuse [16][19]. - Regulatory bodies are also stepping in, with initiatives aimed at curbing illegal activities related to online defamation and misinformation in the automotive industry [19][20]. Group 3: The Role of "Black Public Relations" - The article discusses the emergence of a "black public relations" industry that employs deceptive tactics to undermine competitors, including the spread of false information about vehicle safety and performance [11][19]. - This industry is characterized by organized efforts to manipulate public perception, often using social media to amplify negative narratives about specific brands [9][12]. - Companies are responding with financial incentives for information on malicious activities, indicating a growing recognition of the threat posed by these tactics [19][20].

Core Insights - The market for large six-seat SUVs has entered a highly competitive phase, with multiple brands launching models to capture market share [1][4] - The launch of the Zhiji LS9, priced from 336,900 yuan, aims to fill a gap in the mid-to-large high-end SUV segment [1][8] - The demand for space, comfort, and smart features among family users is driving growth in this segment, which has seen a 35.3% increase in sales year-to-date [1][6] Market Overview - The mid-to-large SUV segment has recorded cumulative sales of approximately 497,000 units in the first nine months of the year, representing a market share of only 2.9% [1][6] - Competitors such as Zeekr 9X, Denza N9, and others have already entered the market, with prices ranging from 170,000 to 500,000 yuan, creating a "full price coverage" strategy [1][6] Competitive Landscape - Several models in the "9" series have achieved monthly sales exceeding 10,000 units, indicating strong competition for the Zhiji LS9 [4] - The high-value proposition of "high cost-performance + cutting-edge intelligent features" is becoming a key selling point for large six-seat SUVs [6] Strategic Initiatives - Zhiji Automotive is offering a subsidy of up to 15,000 yuan for customers who complete their orders by November 25, 2023, to boost sales in the remaining months of the year [8] - The LS9 is considered a flagship model for Zhiji and a critical component of SAIC Group's strategy to enhance its high-end electric vehicle offerings [8]

Core Viewpoint - The chairman of Deep Blue Automotive, Deng Chenghao, emphasizes the importance of battery safety in electric vehicles, stating that if battery safety is compromised, the company should not produce electric cars. He outlines the company's strategic focus on intelligent technology, cost control, and global expansion in a competitive market [1]. Group 1: Technology Route and Brand Positioning - Deep Blue aims for differentiated competition in the sedan market, with a clear sales target of over 10,000 units per month for the L06 model. The L06 will be part of a product lineup that includes the S05 and S07, which are expected to be the largest models in terms of scale [2]. - The core competitive advantage of the L06 is described as "road magnetic suspension, intelligent driving veteran," highlighting the unique magnetic rheological suspension technology and the inclusion of laser radar for urban NCA [2]. - The choice of suspension technology is explained, with magnetic rheological suspension offering superior performance in damping adjustment compared to traditional systems, making it ideal for driving control [2]. Group 2: Safety Bottom Line and Cost Control - Deng Chenghao asserts that the company will not compromise on safety for the sake of profit, emphasizing that if battery safety is not ensured, the company should not produce electric vehicles. Deep Blue has delivered 650,000 vehicles without any incidents of battery fires during charging or parking [4]. - The L06 model is equipped with CATL batteries and designed to meet "PPP-level safety" standards. The company adapts to consumer preferences, shifting from hidden door handles to mechanical ones based on market demand [4]. - Deep Blue's cost control strategy is supported by its affiliation with Changan, allowing for quality and performance maintenance while optimizing costs through platform sharing and transparent cost structures in core systems [5]. Group 3: Globalization Progress - Deep Blue has expanded into over 100 countries, with the S05 being the first globally developed model. Sales in Norway and Egypt demonstrate the brand's growing international presence, with ambitious targets set for future sales [6]. - The company aims to achieve monthly sales of 10,000 units internationally by next year and aspires for half of its sales to come from global markets by 2030 [6]. - Deng Chenghao reiterates the unique positioning of the L06, claiming it has no true competitors, and emphasizes its competitive experience and value proposition against models like Tesla's Model 3 and Xiaomi's SU7 [6].

Core Viewpoint - The launch of the Deep Blue S09 "Ultra Long Range Super Charging Version" has improved battery capacity and charging speed, enhancing its cost-performance ratio, but has caused hesitation among existing users due to perceived unfairness in pricing and features [1][2]. Summary by Sections Product Features and Changes - The Deep Blue S09, launched in May at a competitive price of 239,900 yuan, has seen significant upgrades just four months later, including an increase in battery capacity from 40.18 kWh to 53.49 kWh and an extended pure electric range from 220 km to 310 km [1]. - The introduction of 5C supercharging technology reduces charging time to just 10 minutes, and the intelligent driving system has been upgraded from Huawei's ADS3.3 to ADS SE for the base model, with the top model able to upgrade to ADS4.0 [1]. Consumer Reactions and Market Dynamics - Existing users express concerns over the new model's enhancements, feeling "betrayed" as the new version offers better specifications without a price increase, leading to hesitation in purchasing decisions [2]. - Sales personnel indicate that the larger battery allows for more efficient energy use, potentially extending battery life by reducing the depth of discharge during charging [2]. Competitive Landscape - The trend of upgrading features without changing prices is not unique to Deep Blue; other brands like Tesla and Xiaopeng have also introduced new models with improved specifications while maintaining the same price points [3]. - Deep Blue S09's sales figures are underwhelming, with only 1,246 units sold in September, ranking 157th in SUV sales, indicating a struggle to meet sales targets [3]. Industry Insights - Experts highlight that the proliferation of similar products in the market forces companies to either enhance configurations or lower prices to remain competitive, creating challenges for existing customers [4]. - The rapid pace of product updates and the introduction of new technologies make it difficult for companies to maintain stable pricing, leading to potential dissatisfaction among consumers [6]. Future Considerations - To address customer concerns, companies may need to enhance warranty standards and ensure equitable treatment of new and existing customers, potentially shifting the focus from price competition to quality competition [6].

Core Viewpoint - The article discusses the competitive advantages of Zeekr, particularly focusing on the launch of the Zeekr 9X and its positioning in the luxury electric vehicle market, highlighting its pricing strategy and technological advancements [6][10][11]. Group 1: Market Position and Performance - Zeekr 009 has become a market leader, capturing significant sales in the luxury electric MPV segment, with over 70% of its users coming from high-end luxury brands [6][21]. - The Zeekr 9X is positioned as a flagship model, with a competitive pricing strategy that undercuts traditional luxury brands, starting at 465,900 yuan, which is significantly lower than expected [10][11]. - The emergence of the "9 Series Battle" in 2025 signifies a turning point in the Chinese electric vehicle market, indicating a shift towards flagship models and heightened competition among automakers [7][9]. Group 2: Strategic Insights - The article emphasizes the importance of brand differentiation and competitive pricing as key strategies for Zeekr, which aims to deliver superior products at lower costs [11][12]. - Zeekr's development is supported by its parent company Geely's extensive resources and technological capabilities, including the CMA and SEA architectures [19][23]. - The strategic integration of Zeekr within Geely's broader framework is seen as a move to enhance collaboration and resource optimization, aligning with the "One Geely" strategy [22][24]. Group 3: Industry Context and Future Outlook - The article highlights the competitive landscape of the Chinese electric vehicle market, noting that major players like BYD and AITO are also vying for market share, each with distinct strengths [26][27]. - The article posits that the evolution of the electric vehicle market in China is leading to a "flagship era," where technological integration and strategic positioning will define success [27][28]. - The discussion around Zeekr's competitive landscape suggests that the focus will increasingly shift to leveraging technological advantages and creating structural barriers to competition [27][32].

Core Viewpoint - The company, Seres, is nearing the final stages of its listing plan in Hong Kong, having passed the HKEX hearing, with expected fundraising between $1.5 billion to $2 billion, representing about 10% of its total equity [1] Group 1: Financial Performance and Fund Utilization - Seres achieved a net profit of 5.9 billion yuan in 2024, making it one of the few profitable new energy vehicle companies [1] - 70% of the funds raised from the Hong Kong listing will be allocated to electric drive and intelligent driving research and development, while 20% will be used for overseas channels and charging network construction [1] - Despite raising over 24 billion yuan since its A-share listing in 2016, the company has faced a cumulative net profit loss of 1.7 billion yuan, raising concerns about its self-sustainability [1] Group 2: Market Position and Product Performance - Analysts believe that a successful listing will enhance Seres' product strength and brand effect, with its business model being well-received in the market [2] - The M8 and M9 models are key products, with M8 priced between 350,000 to 450,000 yuan and M9 between 450,000 to 600,000 yuan, contributing to high gross margins and a single vehicle net profit of approximately 13,000 yuan [2] - Despite a decline in sales for the M7 model, the M8 and M9 have maintained their positions in the high-end new energy vehicle market, with M9 delivering 226,000 units and M8 delivering 100,000 units since their launch [2] Group 3: Competitive Landscape - Seres faces competition from models like Li Auto L8, L9, and NIO ES8, which are targeting the same high-end market segment [6] - The M8's starting price overlaps with the Li Auto L8, while the NIO ES8 competes directly with the M8 for potential customers [6] - Other cost-effective models like Galaxy M9 and Deep Blue S09 also pose threats to M8 and M9, with features that appeal to consumers [6] Group 4: Strategic Partnerships and Future Development - The collaboration with Huawei has significantly contributed to Seres' high gross margins, allowing for lower sales expense ratios compared to competitors [3] - Future strategies include enhancing electric drive efficiency, battery technology, and intelligent driving capabilities, with a focus on increasing sales volume [7][8] - The partnership with Huawei is expected to deepen, with Seres aiming to expand high-end model production and integrate into the HarmonyOS ecosystem [9]