2025年11月25日（周二）报纸版的人民日报共有5版有广告。 | 01版:变闻 | 02版:要闻 | 03版:变闻 | 04版:要闻 | | --- | --- | --- | --- | | 05版:评论 | 06版:蛋闻 | 07版:文化 | 08版:广告 | | 09版:理论 | 10版:综合 | 11版: 固际 | 12版:广告 | | 13版:特别报道 | 14版:特别报道 | 15版:特别报道 | 16版:广告 | | 17版:国际 | 18版:新农村 | 19版:广告 | 20版:广告 | 作为对比2025年11月24日（周一）有1版有广告。 | 01版:变闻 | 02版:要闻 | 03版:变网 | 04版:要闻 | | --- | --- | --- | --- | | 05版:评论 | 06版:要闻 | 07版:读者来信 | 08版:广告 | | 09版:理论 | 10版:社会 | 11版:生态 | 12版:国际 | | 13版:特别报道 | 14版:特别报道 | 15版:特别报道 | 16版:新青年 | | 17版:国际 | 18版:财经 | 19版:绿色 | 20版:副刊 | | 01 ...

Core Insights - The Chinese automotive industry has achieved significant advancements over the past decade, particularly in the field of new energy vehicles (NEVs), which have become a vital component for high-quality development [1] - Li Auto, established in 2015, has emerged as a leading mid-to-high-end NEV brand in China, achieving annual sales of 500,000 vehicles and over 100 billion yuan in revenue for two consecutive years [1][2] - The company is committed to innovation and has developed a robust supply chain ecosystem, known as "Li Chain," which integrates nearly a thousand partners to enhance collaborative growth [4][5] Industry Development - The NEV sector in China is projected to exceed 12 million units in annual production and sales by 2024, with Li Auto reaching its milestone of 1 million vehicles produced in just 58 months [2] - Li Auto is actively contributing to the development of Changzhou as "China's New Energy Capital," aiming for the local NEV industry to surpass 850 billion yuan in scale by 2024 [2] Technological Innovation - During the 14th Five-Year Plan period, Li Auto has focused on becoming a global leader in artificial intelligence (AI) and plans to invest over 6 billion yuan in AI development this year [3] - The company has launched the VLA driver model and "Li Xiang Classmate" AI system, marking its entry into a new phase of AI-driven development [3] Supply Chain and Ecosystem - Li Auto has established a supply chain system characterized by "excellent growth, intelligent innovation, and green health," with procurement amounts growing from billions to trillions in just three years [4][5] - The "Li Chain" ecosystem promotes localized industrial collaboration, with 80% of suppliers located in the Yangtze River Delta region, and 50% concentrated in Jiangsu [5] Talent Development - Li Auto has partnered with over a hundred universities to cultivate more than 5,000 high-end industry talents through initiatives like the "Li Xiang+" talent program [6] Future Outlook - The company aims to leverage technological innovation to drive high-quality industry development and enhance user experiences in green and smart mobility [8]

以下文章来源于刘润 ，作者点这里关注→ 刘润 . 降低商业的认知门槛。刘润，润米咨询创始人，"5分钟商学院"课程主理人，著名商业顾问，曾为海 尔、中远、恒基、百度等企业提供过战略咨询服务，每年10月举办"进化的力量·年度演讲"，为创业者 企业家提供年度规划的参考方向，一起更早看到未来。 来源丨 刘润 （ID： runliu-pub ） 作者丨二蔓 编辑丨歌平 一觉醒来。 咦？怎么有这么多的人，都在讨论"理想放弃学习华为"的事儿？ 仔细一查。才知道，最近的理想，确实有挺多动作。比如，创始人李想亲自接管人事工作。比如，几 位华为系高管相继离职。比如，放弃华为特色的PBC绩效模式，重启OKR管理。 要知道，过去的几年里，理想一直在认真学习华为。华为系高管，PBC绩效模式，也都是"学习华 为"的产物。据说，理想还会要求管理团队，阅读至少十本关于华为的书。 这种感觉，就 像是一位优秀的学生 ，突然说"以后我不来了"。 所以一时间，很多人都在说，理想正在"放弃学习华为模式"，正在"去华为化"。 那么，理想为什么突然不学华为了？是因为学不会吗？还是因为华为的模式不够好？ 有人说，是因为华为的狼性文化，种不到理想的土壤里。有 ...

Core Insights - The company emphasizes that its strategic core is based on three key variables: user demand, technology products, and organizational capability [1][5][30] - The company plans to expand its product offerings to include sedans and more diverse MPVs while effectively controlling SKU [1][6] - The realization of autonomous driving is expected to lead to revenue exceeding the combined income of all mobile phone manufacturers in China [1][7] User Demand - The company recognizes the need to expand its user base significantly to achieve higher revenue targets, moving beyond its current focus on SUVs [6][7] - There is a strategic shift towards developing family-oriented sedans and spacious MPVs to cater to a broader audience [6][7] Technology Products - The company identifies four essential characteristics for AI terminals: 360-degree perception of the physical world, cognitive decision-making ability, action execution capability, and self-reflection [1][8] - The transition from traditional automotive products to AI terminals is seen as a necessary evolution rather than a change in direction [2][15] Organizational Capability - The company has adopted various methodologies from industry leaders like Toyota, GM, and Huawei to enhance its organizational capabilities [10][11] - The focus is on learning from Apple to develop core competencies that will support future growth and scalability [12][13] Revenue Goals - The company aims to achieve $100 billion in revenue within a year, building on its previous success of $14.5 billion [5][11] - The potential for AI-driven efficiency could allow the company to generate significant revenue with a reduced workforce compared to traditional automotive companies [28] Future Vision - The company aspires to become a leading global player in AI terminals by 2030, emphasizing the importance of aligning its capabilities with user needs and technological advancements [14][15] - The company acknowledges that failure to meet user demands, technological standards, or organizational capabilities could lead to its downfall [4][30]

Core Insights - The range-extended electric vehicle (REEV) market is facing growth bottlenecks, with wholesale sales in October dropping to 121,000 units, a year-on-year decline of 1.9%, marking the third negative growth in the first ten months of the year [1][9] - In contrast, pure electric vehicle (BEV) sales have shown robust growth, with a year-on-year increase of 31.6% in October, maintaining an average monthly growth rate above 30% throughout the year [3][9] Sales Performance - October wholesale sales for REEVs: 121,000 units, down 1.9% year-on-year [2] - Year-to-date REEV sales: 1.826 million units, down 1.1% year-on-year [9] - BEV sales in October: 1.02 million units, up 31.6% year-on-year [2] - Plug-in hybrid electric vehicle (PHEV) sales in October: 480,000 units, up 2% year-on-year [2] Market Dynamics - The REEV market, once dominated by the Li Auto ONE, has seen increased competition with new entrants like AITO and Deep Blue, yet Li Auto still holds nearly 60% market share [4][5] - The total sales of REEVs are projected to exceed 1 million units by 2024, with a significant increase in brand participation [7] Consumer Sentiment and Challenges - REEVs were initially favored for their "no range anxiety" feature, but advancements in BEV technology have diminished this advantage [9] - Consumer complaints regarding REEVs have surged by 280% in 2024, with over 70% of complaints related to range misrepresentation, high fuel consumption when depleted, and battery issues [9] Regulatory Environment - Policy changes are impacting the REEV market, with a shift in tax incentives starting in 2026, which will reduce the cost advantage of REEVs compared to traditional fuel vehicles [10] - New regulations will require REEVs to meet specific criteria, such as a minimum electric range of 100 kilometers, potentially leading to the elimination of lower-range models from the market [10]

Core Insights - The automotive industry is undergoing a profound transformation centered around electrification, intelligence, and connectivity, with connectivity reshaping product forms and the industry ecosystem [1] - 2025 is identified as a critical year for the industry's transformation, with policies and technologies advancing simultaneously to lay the groundwork for connectivity development [1] Connectivity Development - Initially, automotive connectivity was limited to basic communication and entertainment needs, lacking systematic applications and relying heavily on simple connections [2] - The shift from "auxiliary functions" to "core engines" of automotive competitiveness has been achieved through the integration of 5G, IoT, and big data, enabling real-time information exchange and improved travel efficiency [2] Interior Cabin Transformation - The transformation of the vehicle interior reflects the deep impact of connectivity, with features like central control screens and multi-modal interaction methods enhancing user experience [3] - The vehicle interior is evolving into a multi-functional space for work, entertainment, and rest, supported by integrated software and hardware resources [3] Regulatory Framework and Market Growth - By 2025, a comprehensive regulatory framework will support the large-scale implementation of smart connected vehicles, with numerous national and industry standards established [4] - The market for smart connected vehicles is expected to experience explosive growth, with significant increases in new car sales and connectivity configurations becoming a core consideration for consumers [4] Business Model Evolution - The automotive business model is shifting from one-time hardware sales to providing full lifecycle services, with companies establishing ongoing service relationships with users [5] - Revenue models are diversifying, allowing for subscription-based access to enhanced vehicle features and integrated entertainment content [5] Future Outlook - By 2026, significant advancements in connectivity technology are anticipated, with a projected 50% penetration rate for 5G vehicles and 7.5% for C-V2X direct communication vehicles [6] - The automotive industry is expected to integrate deeply with various sectors, transforming vehicles into smart hubs that connect various aspects of daily life [7]

Core Insights - The automotive industry is undergoing a profound transformation centered around electrification, intelligence, and connectivity, with connectivity reshaping product forms and the industry ecosystem [1] - 2025 is identified as a critical year for the industry's transition, with policies and technologies advancing simultaneously to lay the groundwork for connectivity development [1] Connectivity Development - Initially, automotive connectivity was limited to basic communication and entertainment needs, lacking systematic applications and relying heavily on mobile devices [2] - The shift from "auxiliary functions" to "core engines" of automotive connectivity has been facilitated by the integration of 5G, IoT, and big data, creating a high-speed interconnected network [2] - "Vehicle-road-cloud integration" has become the mainstream direction, enabling vehicles to access real-time traffic information and optimize decision-making through cloud computing [2] Interior Cabin Transformation - The transformation of the vehicle interior reflects the deep impact of connectivity, with features like central control screens and multi-modal interaction methods becoming standard [3] - The vehicle interior is evolving into a multi-functional space for work, entertainment, and rest, with new modes like X-Play and X-Sleep catering to diverse user needs [3] - Enhanced data security measures are being implemented to protect user information amidst increasing data exchanges [3] Regulatory Framework and Market Growth - By 2025, a comprehensive regulatory framework for intelligent connected vehicles is being established, with 88 national and industry standards published [4] - The market for intelligent connected vehicles is expected to experience explosive growth, with L2 passenger car sales reaching 7.76 million units and a penetration rate exceeding 62% in the first seven months of 2025 [4] - The focus of automotive marketing is shifting towards user needs and scenario-based design, transforming vehicles into mobile living spaces [4] Business Model Evolution - The automotive business model is transitioning from one-time hardware sales to providing full lifecycle services, with subscription-based models for enhanced vehicle features [5] - The integration of entertainment content and services through in-car systems is creating new revenue streams for automotive companies [5] Future Outlook - By 2026, significant breakthroughs in connectivity technology are anticipated, with 5G vehicle penetration expected to reach 50% and C-V2X direct communication penetration at 7.5% [6] - The intelligent cabin is set for revolutionary upgrades, enabling proactive user demand prediction and personalized services [6] - The automotive sector is expected to evolve into a core node of smart cities, integrating with various domains such as traffic management and energy systems [7] - Collaboration between automotive companies, tech firms, and telecom operators will intensify, driving innovation and commercialization while prioritizing data security and privacy [7]

Group 1: Industry Developments - The Ministry of Industry and Information Technology (MIIT) will select a batch of innovative and applicable new technologies and products to promote large-scale application in new scenarios [2] - The 23rd Guangzhou International Auto Show will take place from November 21, focusing on the transformation of the automotive industry towards electrification and intelligence [3] - Shanxi Province has implemented a public lottery system for applying for vehicle scrapping and renewal subsidies, effective from November 10 [4] Group 2: Automotive Technology and Standards - The China Automotive Technology and Research Center has launched a global technology verification system to support the rapid internationalization of China's new energy vehicles [5] - The U.S.-Thailand trade framework requires Thailand to accept U.S. manufactured vehicles that meet American standards [6] Group 3: Company News - Faraday Future announced that the first batch of complete components for the FX SuperOne will depart on November 15, with an expected arrival at the Port of Los Angeles by the end of November [7] - Subaru plans to reassess its 1.5 trillion yen (approximately $99.5 billion) electrification investment plan, aiming for annual cost savings of 200 billion yen by 2030 [8] - Lantu Motors has officially rolled out its 300,000th vehicle, marking a significant milestone for the brand [9] - Li Auto reported that its extended-range SUVs have surpassed cumulative deliveries of 1.4 million units [10] - SAIC-GM-Wuling announced that its Bingguo family has achieved cumulative sales of over 600,000 units [11] - NIO Battery Technology Company has undergone management changes, with Li Bin transitioning from chairman to director [12] - Honda China reported a 20.6% year-on-year decline in October sales, with total sales for the year-to-date reaching 527,740 units [13] - Great Wall Motors celebrated the production of its 10,000th vehicle at its KD factory in Uzbekistan, marking a significant step in its local market strategy [14]

Group 1 - The autonomous driving company WeRide has received approval from the UAE federal government to launch a fully unmanned Robotaxi commercial operation in Abu Dhabi, marking a significant milestone as the first city-level L4 autonomous driving commercial license outside the US [1] - This development signifies a breakthrough for Chinese autonomous driving technology in international markets, enhancing confidence in the smart driving sector's technological implementation capabilities [1] - The ongoing investment in cutting-edge technology by Middle Eastern capital reflects a growing global interest in the commercialization of smart mobility, potentially attracting more long-term investments in the integration of AI and transportation [1] Group 2 - Li Auto announced that its cumulative delivery of range-extended SUVs has surpassed 1.4 million units, with the Li L6 and L7 each exceeding 330,000 units, Li L8 surpassing 250,000 units, Li L9 exceeding 280,000 units, and Li ONE exceeding 200,000 units [2] - This milestone is expected to strengthen investor confidence in the competitiveness and scale effects of the company's product matrix, providing solid support for its market valuation [2] - The data also boosts the morale of the new energy vehicle sector, highlighting the penetration potential of domestic smart electric vehicles in niche markets, positively impacting upstream and downstream enterprises in the industry chain [2] Group 3 - Subaru announced a reevaluation of its planned 1.5 trillion yen investment in electrification, aiming to achieve annual cost savings of 200 billion yen by 2030 to offset the impact of US import tariffs [3] - The company plans to reallocate part of its investment from pure electric vehicles to enhance the development and production of hybrid and internal combustion engine models [3] - This strategic adjustment reflects the importance of a diversified technological approach in response to US tariff pressures, potentially prompting market reconsideration of the pure electric technology path [3] Group 4 - Great Wall Motors has established a new research and development company, Dalian Great Wall Zhike Automotive R&D Co., Ltd., focusing on new materials technology, automotive parts development, new energy vehicle sales, and more [4] - This move demonstrates the company's commitment to strengthening technological research and development and integrating its industry chain, which may bolster investor confidence in its long-term strategy [4] - In the context of the automotive industry's shift towards intelligence, this initiative could drive market interest in automakers with core self-research capabilities, as well as create demand expectations in the automotive new materials and parts sectors [4]

Group 1 - The autonomous driving company WeRide has received approval from the UAE government to launch a fully unmanned Robotaxi service in Abu Dhabi, marking a significant milestone as the first city-level L4 autonomous driving commercial license outside the US [1] - This development signifies a breakthrough for Chinese autonomous driving technology in international markets, enhancing confidence in the smart driving sector's technological implementation capabilities [1] - The move is expected to attract more long-term investments in the integration of artificial intelligence and transportation, reflecting a growing global interest in the commercialization of smart mobility [1] Group 2 - Li Auto announced that its cumulative deliveries of extended-range SUVs have surpassed 1.4 million units, with individual models like the Li L6 and L7 each exceeding 330,000 units delivered [2] - This achievement is likely to strengthen investor confidence in the company's product competitiveness and scale effects, providing solid support for its market valuation [2] - The data also boosts the morale of the new energy vehicle sector, highlighting the penetration potential of domestic smart electric vehicles in niche markets [2] Group 3 - Subaru plans to reassess its previously announced 1.5 trillion yen electrification investment and aims to achieve annual cost savings of 200 billion yen by 2030 to offset the impact of US import tariffs [3] - The company intends to reallocate some investments from pure electric vehicles to enhance the development and production of hybrid and internal combustion engine models, reflecting a strategic shift in response to tariff pressures [3] - This adjustment may prompt investors to reconsider the valuation of companies overly reliant on pure electric vehicle strategies while focusing on those with hybrid technology advantages [3] Group 4 - Great Wall Motors has established a new research and development company, Dalian Great Wall Zhike Automotive R&D Co., which will focus on new materials technology, automotive parts development, and new energy vehicle sales [4] - This initiative demonstrates the company's commitment to strengthening its technological research and industry chain integration, potentially boosting investor confidence in its long-term strategy [4] - In the context of the automotive industry's shift towards intelligence, this move may increase market interest in companies with core self-research capabilities in automotive materials and components [4]