在新能源汽车发展初期，传统海外巨头凭借其在燃油车领域积累的深厚技术底蕴、庞大的研发体系和成 熟的供应链体系，在技术上占据着绝对的主导地位。它们拥有发动机、变速箱等核心技术，以及长期积 累的汽车制造工艺和质量控制经验。而新势力企业则大多是在新能源汽车浪潮兴起后才进入市场，在技 术和资源上都相对薄弱，处于技术追随者的角色。 然而，随着电动汽车和智能网联汽车的兴起，市场需求和技术发展方向发生巨大变化。新势力企业更加 专注于电动汽车技术和智能网联技术的研发，在电池技术、自动驾驶技术、智能座舱等关键领域取得了 一系列突破。 相比之下，传统海外巨头在向新能源和智能化转型的过程中，面临着诸多挑战。它们需要在继续维持燃 油车业务的同时，还要投入大量资源进行新能源和智能化技术的研发，往往力不从心。 而小鹏汽车与大众汽车集团最新宣告双方合作范围延伸至插混和燃油车领域，成为这一转变的标志性事 件之一，意味着新势力的技术开始反哺燃油车这一传统领域。 小鹏与大众早有合作。2023年7月，双方签署了战略合作框架协议，迈出了合作的第一步，标志着传统 汽车巨头对新势力企业技术实力的认可。 2025年8月15日签订的扩大电子电气架构技术战略合 ...

汽车行业周报 广汽埃安向华望汽车增资，小鹏大众扩大合作协议范围 中游制造/汽车 8 月 10 日至 8 月 16 日，汽车行业整体上涨 3.2%。根据中汽协公布的最新一期 数据，今年 7 月，我国汽车产销分别完成 259.1 万辆和 259.3 万辆，环比分别下 降 7.3%和 10.7%，同比分别增长 13.3%和 14.7%；1-7 月，累计产销完成 1823.5 万辆和 1826.9 万辆，同比分别增长 12.7%和 12%。协会分析指出，7 月车市进 入传统淡季，部分厂家安排年度设备检修，产销节奏有所放缓，环比呈现季节 性回落。但以旧换新政策效果继续显现，行业综合整治"内卷"工作取得积极 进展，企业新车型持续投放，助力车市平稳运行，同比实现增长。 ❑ 市场板块行情回顾 本周 CS 汽车+3.2%。本周（8 月 10 日至 8 月 16 日，下同）上证 A 指涨跌 幅为+1.7%，深证 A 指涨跌幅为+3.6%，创业板涨跌幅为+8.6%。本周各行业 板块多数上涨，涨幅居前的行业板块为 CS 通信（+7.1%）、CS 综合金融 （+7.1%）和 CS 非银行金融（+6.6%）。 汽车产业链各板块行情：本周 ...

Core Viewpoint - Continental Group is restructuring its automotive business by spinning off its subsidiary under the new brand "AUMOVIO" to operate independently starting September 1, 2025, in response to market pressures and to enhance its competitive positioning in the automotive technology sector [1][2]. Group 1: Company Strategy - The spin-off of AUMOVIO is a significant structural reform for Continental Group, aimed at addressing the dual pressures of global supply chain disruptions and increasing competition from Chinese firms in smart driving and software-defined vehicles [1][2]. - AUMOVIO will focus on a full-stack business model encompassing electronic and electrical architecture, smart cockpits, braking and chassis systems, autonomous driving, and software platforms [1]. Group 2: Financial Goals - AUMOVIO plans to achieve an independent listing by September 2025, with a target of maintaining an adjusted profit margin of 6% to 8% while scaling its operations [2]. - The restructuring is also a response to market skepticism regarding Continental Group's profitability, as the company aims to prepare for future industry competition [2]. Group 3: Market Challenges - The success of AUMOVIO's listing and its financial performance will depend on the recovery of global capital market valuations for automotive technology companies and the competitive pressure from domestic Tier 1 companies in China [2][3]. - Continental Group is gradually divesting non-core assets and focusing on its dual main businesses of tires and automotive technology, making AUMOVIO a potential growth engine for the next decade [3].

Domestic News - Xiaopeng Motors and Volkswagen signed an expanded electronic and electrical architecture technology agreement, building on their previous collaboration to accelerate development and achieve key project milestones [4] - Beijing Hyundai launched the "818 Super Fuel Purchase Festival," offering a low entry fee and multiple purchase incentives to enhance customer engagement [5] - SAIC-GM-Wuling and Huawei are upgrading their collaboration, with the Baojun brand potentially adopting the Hi model [6] - Dongfeng Motor and JD Group established a strategic cooperation agreement to enhance collaboration in vehicle marketing, after-sales service, procurement, and smart logistics [7] - Geely's CEO announced a plan for a more than 30% increase in overseas exports in the second half of the year, focusing on a flat organizational structure and tailored product strategies for different regions [9] - NIO launched the world's highest-altitude battery swap station in Linzhi, located at 4500 meters, as part of its strategy to enhance service along the G318 route [10] - Avita's new concept car is set to debut on September 7 in Munich, with plans to enter 50 countries and regions by 2025 [11] - GAC Energy and Chery Green Energy reached a cooperation agreement to open over 20,000 charging stations to enhance charging convenience for electric vehicle users [12] Foreign News - Sony and Honda's joint venture Afeela announced the pre-production of its first electric vehicle, with deliveries expected in mid-2026 [14] - UK battery developer Harmony Energy plans to raise £300 million (approximately $400 million) to expand into the European energy storage market [15] - VinFast intends to spin off its R&D department and sell it to its founder for approximately $1.5 billion as part of its restructuring efforts [16] - Toyota plans to launch three electric vehicle models in South Africa by 2026, entering a competitive market dominated by Chinese and European brands [17] Commercial Vehicles - BYD Commercial Vehicles and JD Auto signed a strategic cooperation agreement to deepen collaboration in the electric commercial vehicle sector [19] - Sinotruk established a joint venture in Kazakhstan to produce commercial vehicles, supported by the local government [20][21] - Zero One Automotive launched its ZSD autonomous driving heavy truck in Guangdong, marking a significant milestone in the field of electric heavy trucks [23] - Proton Motors unveiled the "Yao Ling II," a new concept heavy truck aimed at leading the industry towards a future of unmanned freight [24]

该扩大合作协定的签署标志著双方联合开发的行业领先的电子电气架构不仅将集成到大众在中国市场纯 电车型平台，也将部署到大众在中国市场的燃油和插电混动车型平台，双方的技术战略合作将扩展到更 广阔的市场。 小鹏汽车(XPEV.US)美股盘前涨2%。消息上，小鹏汽车公告，公司与大众汽车集团共同宣布，继双方 于2024年7月22日签订电子电气架构技术战略合作联合开发协议后，基于双方对于扩大电子电气架构的 应用范围，在大众集团实现跨平台跨动力能源形式的电子电气架构平台化的共识，双方已签订扩大电子 电气架构技术战略合作的协议。 ...

凤凰网科技讯 8月15日，针对小鹏汽车与大众汽车集团签订扩大电子电气架构技术战略合作的协议，小 鹏汽车董事长何小鹏表示，很开心在和大众的合作中，可以不断学习优点来提高自己的不足。也不认为 这几年中国新能源汽车的小胜是领先，之后小鹏会和大众继续在智能电动汽车核心领域持续技术创新， 敬请期待2026年的合作车型上市。 双方研发团队通过深度技术创新，证实了原本为纯电车型开发的电子电气架构能够有效适配燃油和插电 混动平台，这一技术方案的成功将显著扩大搭载该架构车型在中国市场的覆盖范围。 根据最新签订的联合开发协议，双方将全力投入，为大众在华生产的CMP和MEB平台开发行业领先的 电子电气架构。双方研发的电子电气架构不仅将部署在大众中国市场的纯电车型平台，还将集成到燃油 和插电混动车型平台中，实现跨动力形式的平台化应用。 据凤凰网科技此前报道，8月15日上午，小鹏汽车与大众汽车集团宣布签署扩大电子电气架构技术战略 合作协议，双方联合开发的先进电子电气架构应用范围将从纯电动车型扩展至燃油车和插电混动车型平 台。 ...

Core Insights - The partnership between Xiaopeng Motors and Volkswagen Group has expanded from electric vehicles to include fuel and plug-in hybrid vehicles, indicating a broader collaboration in electronic and electrical architecture technology [2][4][8] Group 1: Partnership Expansion - On August 15, Xiaopeng Motors and Volkswagen Group signed an agreement to expand their strategic cooperation in electronic and electrical architecture technology, which will now be integrated into Volkswagen's fuel and plug-in hybrid vehicle platforms in China [2][4] - The initial collaboration began with a framework agreement in April last year, focusing on integrating Xiaopeng's latest electronic architecture into Volkswagen's CMP platform [4][5] - The expanded cooperation is expected to significantly increase the number of vehicles equipped with this electronic architecture in the Chinese market, enhancing both companies' competitive edge [8][9] Group 2: Financial Impact - In the first quarter of this year, Xiaopeng Motors reported a substantial increase in service revenue, with a profit margin exceeding 66%, largely attributed to its collaboration with Volkswagen [4][8] - Xiaopeng's service and other income reached RMB 1.44 billion (approximately USD 200 million), marking a year-on-year increase of 43.6% and a quarter-on-quarter increase of 0.5%, driven by technology development services related to the partnership [8] - The high gross margin from the collaboration is expected to provide Xiaopeng Motors with ongoing and significant revenue as the technology is applied to more fuel vehicles [9]

Core Viewpoint - XPeng Motors and Volkswagen Group have signed an expanded strategic cooperation agreement to develop an electronic and electrical architecture that will be integrated into both electric and internal combustion engine vehicles in the Chinese market [1][2]. Group 1: Expanded Cooperation Agreement - The expanded cooperation agreement signifies a milestone in the joint development of electronic and electrical architecture, which will now extend to Volkswagen's fuel and hybrid vehicle platforms in China starting from 2027 [1][2]. - The collaboration aims to enhance Volkswagen's global competitiveness by accelerating the development of software-defined vehicles and enabling rapid software iteration and remote upgrades [2]. - XPeng Motors' Chairman, He Xiaopeng, emphasized the importance of this agreement as a continuation of their commitment to technological innovation in the smart electric vehicle sector [2]. Group 2: Market Performance - Volkswagen Group's sales in China have seen a year-on-year decline of 2.3% in the first half of the year, reflecting increased competition in the Chinese automotive market [3]. - In the second quarter of 2025, Volkswagen delivered 669,700 vehicles in China, a 2.8% increase compared to the same period in 2024 [4]. Group 3: Local Development and Innovation - Volkswagen Group is committed to strengthening its local R&D resources and has established a new R&D and innovation center in Hefei, China, to better integrate into the local technology ecosystem [5][6]. - The company plans to launch 30 electric models in China by 2027, with the first locally developed models set to debut at the 2025 Shanghai Auto Show [6]. - Volkswagen aims to deliver over 2 million vehicles to the Chinese market in 2024, with nearly 90% being internal combustion engine models, while the expanded electronic architecture is expected to enhance operational efficiency and competitiveness [6].

8月15日，小鹏汽车与大众汽车集团共同宣布，基于双方对于扩大电子电气架构的应用范围，在大众集团实现跨平台跨动力能源形式的电子电气架构平 台化的共识，双方已签订扩大电子电气架构技术战略合作的协议。 双方研发团队坚持平台化设计理念，设计并验证了双方为纯电车型平台开发的电子电气架构，也能够部署到燃油和插电混动车型平台的技术方案。这是 双方联合研发和技术创新的重要成果。这将显著扩大配备该电子电气架构车型在中国市场的数量和规模，为大众汽车集团实现显著的平台化的规模效应和产 品竞争力。 小鹏与大众的首次合作是2024年4月17日，双方签署了电子电气架构技术战略合作框架协议。之后在7月，双方又签订电子电气架构技术战略合作联合开 发协议，全力投入为大众在华生产的CMP和MEB平台电子电气架构。 未来，双方联合开发的电子电气架构将集成到大众在中国市场纯电车型平台，也将部署到大众在中国市场的燃油和插电混动车型平台，双方的技术战略 合作将扩展到更广阔的市场。 ...

Core Viewpoint - The strategic cooperation between XPeng Motors and Volkswagen Group aims to expand the application of advanced electronic and electrical architecture from electric vehicles to fuel and plug-in hybrid vehicle platforms, enhancing competitiveness in the Chinese automotive market [1][2]. Group 1: Partnership Development - The latest agreement builds on previous collaborations, including a framework agreement signed in April 2024 and a joint development agreement from July 2023, indicating a rapid progression in their partnership [1][2]. - The partnership reflects a long-term strategic relationship based on mutual trust, showcasing both companies' commitment to innovation in core technologies for smart electric vehicles [2][4]. Group 2: Technological Advancements - The new electronic and electrical architecture will be deployed across Volkswagen's CMP and MEB platforms in China, allowing for a platform-based application across different powertrains [1][2]. - This technology adaptation demonstrates that the originally electric vehicle-focused architecture can effectively be integrated into fuel and plug-in hybrid platforms, significantly broadening the market coverage of vehicles equipped with this architecture in China [1][2]. Group 3: Market Implications - For Volkswagen, this collaboration accelerates the implementation of its software-defined vehicle strategy, enabling rapid software iteration and remote upgrades, which shortens the development cycle for new models [2]. - The extension of the architecture to fuel vehicles enhances Volkswagen's technological advantage in traditional powertrain markets while optimizing cost structures, providing more attractive product options for Chinese consumers [2][4].