Core Viewpoint - Li Auto has successfully transitioned from a follower to a leader in the smart driving sector by leveraging a unique self-research model and a collaborative supply chain approach, focusing on user-centric product development and efficient organizational practices [2][3][4]. Group 1: Company Strategy and Development - Since February 2021, Li Auto has initiated comprehensive self-research in smart driving, smart cockpit, and chip development, marking a significant shift in its operational strategy [3]. - The appointment of Wang Kai as CTO was pivotal, bringing extensive experience from his previous roles, including leading the MBUX smart cockpit project at Mercedes-Benz, which generated over $1.5 billion in revenue [4][6]. - Li Auto's strategic focus on a limited number of high-quality products, akin to Apple's model, has been instrumental in its market success [5]. Group 2: Technological Advancements - Li Auto made a critical decision to switch from the Mobileye EyeQ4 chip to Horizon's J3 chip for its smart driving system, achieving a remarkable seven-month timeline for mass production [7][14]. - The launch of the self-developed smart driving system, Li AD Max, in March 2022 marked a significant milestone in Li Auto's technological evolution [8]. - By 2023, Li Auto had accumulated 1.2 billion kilometers of effective data and achieved a cloud computing power of 13 EFLOPS, showcasing its commitment to data-driven development [32]. Group 3: Supply Chain and Collaboration - Li Auto's "roundtable cooperation model" with suppliers emphasizes collaboration over competition, allowing for a more efficient and responsive supply chain [17][20]. - The company has streamlined its supplier base, focusing on elite partners to enhance operational efficiency and reduce complexity [18][19]. - This collaborative approach has led to significant growth for suppliers, with Horizon's revenue increasing from 467 million yuan in 2021 to 1.552 billion yuan in 2023 [22]. Group 4: Talent and Organizational Structure - The establishment of a dedicated smart driving team, initially comprising only 20 members, has been crucial for rapid technological advancements [25]. - Li Auto's internal structure separates research and development (RD) from product development (PD), facilitating efficient collaboration and rapid iteration [28]. - The recruitment of top talent, such as Jia Peng from NVIDIA, has strengthened Li Auto's capabilities in data management and algorithm development [27]. Group 5: Future Outlook - Li Auto aims to become a leader in smart driving by 2024, with a focus on integrating AI technologies into its vehicles [37]. - The company's commitment to continuous improvement in user experience and data utilization positions it well for future growth in the competitive automotive landscape [29][34].

Core Viewpoint - The automotive industry is experiencing a fierce competition in the smart driving sector, with companies like BYD and Chery introducing advanced driving technologies at increasingly lower price points, marking a significant shift in market dynamics [1][4][6]. Group 1: Price and Technology Competition - BYD has introduced its high-end smart driving system in models priced at 69,800 yuan, while Chery has followed suit by offering smart driving features in models starting at 65,900 yuan [3][4]. - Multiple companies, including Huawei, Chery, and GAC, have recently held smart driving technology launch events, emphasizing a strategy of "no lowest, only lower" pricing [2][6]. - The introduction of smart driving technology in lower-priced models is seen as a "dimensionality reduction strike," significantly lowering the entry barrier for consumers [6]. Group 2: Features and Specifications - Chery's new model, the small ant smart version, is equipped with 22 intelligent sensors and supports 23 smart driving functions, including automatic parking and high-speed navigation [5][6]. - The BYD Seagull model features the "Tian Shen Eye" high-end smart driving system, which is the first of its kind in a vehicle priced under 70,000 yuan [7]. Group 3: Market Trends and Predictions - The competition is expected to intensify as more automakers, like Changan, plan to introduce smart driving features in models priced at 100,000 yuan and below [8]. - Analysts suggest that the increasing maturity of sensor technologies, such as millimeter-wave and ultrasonic radars, is driving down the costs of smart driving systems, making them more accessible [9][10]. - The penetration rate of L2 and above smart driving new cars is projected to exceed 60% by 2025, with L3 level vehicles accounting for 8.5% of the market [22].

在20萬元以上乘用車市場，理想汽車連續八個月獲得中國品牌銷量冠軍。理想 L6累計交付量突破16萬輛，自6月起蟬聯20萬元以上中國品牌車型銷量第一。此 外，理想汽車智駕技術的迭代帶動搭載理想AD Max的車型需求增長，11月，30 萬元以上車型及40萬元以上車型中，搭載理想AD Max的定單佔比分別超過70% 和80%。11月，理想汽車推送OTA 6.5版本車機系統，基於端到端(E2E)+視覺語 言模型(VLM)技術的「車位到車位」一鍵智駕已向AD Max用戶開啟全量推送。 截至2024年11月30日，理想汽車在全國已有475家零售中心，覆蓋141個城市；售 後維修中心及授權鈑噴中心451家，覆蓋223個城市。理想汽車在全國已投入使用 1,135座理想超充站，擁有5,680個充電樁。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Li Auto Inc. 理想汽車 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：2015） 自願公告 ...