2月1日，小鹏汽车发文宣布，2026年1月共交付新车20011台。同期交付车辆，相较于传统燃油车型，全 生命周期预计可减少碳排放约30万吨，相当于494万棵中等树苗10年的固碳量。 1月，小鹏X9持续热销，单月交付4219台，同比增长413.9%。截至1月底，其累计交付量达51897台，成 为国内新势力MPV中交付最快突破5万台的车型。同月，2026款小鹏X9纯电版开启预订，作为"全球续 航最长5C纯电大七座"，新车在产品力上与市场热销的超级增程版全面看齐。 2月1日，小鹏汽车发文宣布，2026年1月共交付新车20011台。同期交付车辆，相较于传统燃油车型，全 生命周期预计可减少碳排放约30万吨，相当于494万棵中等树苗10年的固碳量。 1月，小鹏X9持续热销，单月交付4219台，同比增长413.9%。截至1月底，其累计交付量达51897台，成 为国内新势力MPV中交付最快突破5万台的车型。同月，2026款小鹏X9纯电版开启预订，作为"全球续 航最长5C纯电大七座"，新车在产品力上与市场热销的超级增程版全面看齐。 此外，小鹏自研第二代VLA，即行业首个实现 L4初阶能力的物理世界大模型，将于第一季度正式向用 ...

小鹏第二代VLA正在训练面向L4自动驾驶的更多能力，搭载小鹏第二代VLA软件的Robotaxi已经通过第三方测试机构场地测试，即将开始公开道路测 试。小鹏标准车型与Robotaxi共享同一套第二代VLA模型底座与能力演进路径。 1月8日，小鹏汽车发布2026款P7+、G7超级增程、G6和G9。其中，2026款小鹏P7+在全球36国同步发布，提供超级增程和纯电两种能源形式，售价 18.68万元起；2026款小鹏G7推出四个版本，售价19.58万元起；2026款小鹏G6推出纯电625 Max科技版和625 Max旗舰版，指导价17.68万元和18.68万元； 2026款小鹏G9推出纯电625 Max、725 Max和680 四驱Max版，售价24.88万元-27.88万元。 第二代VLA+天玑AIOS 6.0驱动智能驾驶与座舱体验质变 2026小鹏全球新品发布会的四款车型中，Ultra和Ultra SE版均将搭载小鹏自研第二代VLA。小鹏第二代VLA创新性地去掉了"语言转译"环节，实现从视 觉信号到动作指令的端到端直接生成，让物理AI可以直接看到并理解现实世界。据悉，第二代VLA将于2026年3月开启首批车辆推送 ...

Core Insights - The electric vehicle (EV) industry in China is transitioning from reliance on government policies to market-driven growth, marking the end of the "policy infusion" era and the beginning of "self-sustaining" operations [2][4][17] Group 1: Market Dynamics - In 2025, the penetration rate of new energy vehicles (NEVs) in China surpassed 50%, reaching 59.5% by November, indicating a significant shift towards electric vehicles [5][25] - The charging infrastructure has improved significantly, with a total of 19.32 million charging points by the end of November 2025, a 52% year-on-year increase, and over 5,000 battery swap stations established [5][25] - The competition landscape has changed, with Tesla's retail sales in China declining by 4.8% to 625,698 units, while domestic brands like BYD, Geely, and Changan have seen substantial growth [5][27] Group 2: Sales Performance - BYD led the NEV sales in 2025 with 3.48 million units sold, despite a 6.3% year-on-year decline, holding a market share of 27.2% [6][27] - Geely and Changan reported significant sales increases of 81.3% and 26.8%, respectively, with Geely selling 1.56 million units and Changan 789,141 units [6][27] - New entrants like Leap Motor and Xiaomi have emerged as strong competitors, with Leap Motor's sales increasing by 86.3% to 529,503 units and Xiaomi entering the rankings with 411,837 units, a 200.9% increase [6][27] Group 3: Technological Advancements - The focus on "intelligent driving" has intensified, with companies like BYD, NIO, and Xpeng launching advanced driver-assistance systems and AI-driven models [11][32] - Despite advancements, there remains a gap between technology and user experience, with consumers expressing concerns over the reliability of intelligent driving systems [11][35] - The industry is witnessing a shift towards more comprehensive AI models that aim to enhance decision-making capabilities in complex driving scenarios [12][33] Group 4: Future Outlook - Starting in 2026, the EV industry will face new challenges as the government reduces subsidies, shifting the focus to market-driven strategies and user experience [15][38] - The competitive landscape is expected to evolve with a mix of pure electric, hybrid, and range-extended vehicles, as traditional automakers and new entrants adapt to changing consumer preferences [19][40] - Companies are increasingly looking to expand internationally, marking a new phase of competition that emphasizes technology depth, cost efficiency, and brand loyalty [20][41]

Core Viewpoint - Xiaopeng Motors is gearing up for a significant product year in 2026, launching multiple new models and enhancing its technology to compete in both domestic and global markets [2][7][38]. Group 1: Product Launch and Technology - Xiaopeng Motors introduced four new models on January 8, 2026, focusing on range extension and advanced technology [2][3]. - The new models feature self-developed Turing chips, moving away from Nvidia's Orin X chips, and include enhancements like the second-generation VLA and VLM for improved driving assistance and smart cockpit capabilities [3][4][21]. - The company emphasizes that its range-extended vehicles are fundamentally electric, maintaining low energy consumption and offering a pure electric range of 430 km [11][12]. Group 2: Market Position and Growth - In 2025, the sales of range-extended vehicles in China reached 1.235 million units, a 6% increase year-on-year, while pure electric vehicle sales grew by 24.4% [9]. - Xiaopeng Motors ranked among the top ten global new energy brands in sales, with the potential to break into the top five with the addition of range-extended models [9][10]. - The company aims to achieve a sales target of 550,000 to 600,000 vehicles in 2026, representing a 30% increase from 2025 [52][53]. Group 3: Global Market Strategy - Xiaopeng Motors is actively targeting international markets, with a goal of achieving a 1:1 sales ratio between overseas and domestic markets [41][50]. - The company has expanded its presence to 60 countries and regions, indicating a strong commitment to global growth [51]. - The focus on global media engagement during product launches reflects Xiaopeng's strategy to enhance its visibility and reputation in international markets [46][50]. Group 4: Competitive Landscape - The automotive market in 2026 is expected to be increasingly competitive, with strong rivals like Tesla, Xiaomi, BYD, and Leap Motor [58][59]. - Xiaopeng Motors is positioning itself to leverage its technological advancements and product offerings to navigate this competitive environment [60].

（文章来源：21世纪经济报道） 小鹏智驾负责人刘先明：我可以非常确定你肯定输了，准备好建食堂吧。现在网上有很多梗，说我们第 二代VLA叫做"先明裸奔版"。我可以放心地告诉大家，你们可能要失望了，你们应该看不到这一幕发 生。 我们现在测试进程和研发进程都比较顺利，车主今年第一季度会有一个稳定版本可以使用，并且可以持 续提升，争取8月，让车主们看到超过我和大师兄打赌的版本。 21世纪经济报道记者何煦阳报道 ...

Core Insights - Xiaopeng Motors launched four new models at the 2026 global product launch, including the 2026 P7+, G7, G6, and G9, expanding its range of extended-range vehicles [1][4] - The company is adopting a "large battery + large fuel tank + ultra-fast charging" strategy for its extended-range products, with the P7+ and G7 offering significant total ranges [1][3] - Xiaopeng's second-generation VLA (Virtual Large Model) technology is set to enhance its autonomous driving capabilities, with plans for public road testing of Robotaxi soon [2][3] Product Launch Details - The 2026 P7+ is priced between 186,800 to 198,800 yuan, while the G7 is priced between 195,800 to 205,800 yuan, and the G6 ranges from 176,800 to 186,800 yuan [1] - The G9 has three pure electric versions priced between 248,800 to 278,800 yuan [1] - The P7+ and G7 both have a pure electric range of 430 km, with total ranges of 1550 km and 1704 km respectively [1] Technology Advancements - The Ultra and Ultra SE versions of the new models feature self-developed second-generation VLA and advanced AI chips, enhancing their autonomous driving capabilities [2] - The second-generation VLA eliminates the "language translation" step, allowing for direct generation of action commands from visual signals [3] - The company aims to broaden the upper limits of technology while addressing the challenges faced in the past three years [3] Market Strategy - Xiaopeng's sales in overseas markets reached 45,008 units in 2025, a 96% increase, indicating a strong push for globalization [5][6] - The company has established a presence in 60 countries and regions, with local production projects in Germany, Indonesia, and Malaysia [6][7] - The strategy includes expanding into western and northern markets, as well as lower-tier markets in China [7][8] Future Plans - In 2026, Xiaopeng plans to introduce four new global SUV models and enhance its global supply chain management [7][8] - The company anticipates that its overseas growth rate will surpass domestic growth in the coming year [7]

Core Insights - Xiaopeng Motors launched four new models at the 2026 Global Product Launch, including the P7+, G7 Super Range, G6, and G9, with global releases in 36 countries [1][10][37] - The P7+ is highlighted as the world's longest-range extended-range electric sedan, featuring both electric and extended-range versions with prices starting at 186,800 RMB [1][15] - The G7 Super Range boasts a comprehensive range of 1,704 km, making it a significant addition to the SUV market [23][25] Group 1: Product Launch Details - The 2026 P7+ offers two energy forms: extended-range and pure electric, with prices for the extended-range versions set at 186,800 RMB and 198,800 RMB [1] - The G7 is available in four versions, with prices ranging from 195,800 RMB to 205,800 RMB, while the G6 starts at 176,800 RMB [1] - The G9 features three versions with prices from 248,800 RMB to 278,800 RMB, showcasing Xiaopeng's commitment to diverse offerings [1] Group 2: Technological Advancements - The new models are equipped with the second-generation VLA and AIOS 6.0, enabling advanced intelligent driving and cabin experiences [4][8] - The second-generation VLA achieves L4-level capabilities, allowing for direct action generation from visual signals, marking a significant innovation in AI technology [4][6] - The AIOS 6.0 system enhances user interaction with a 3D navigation interface and proactive service capabilities, setting a new standard in smart cabin technology [8] Group 3: Performance and Efficiency - The P7+ achieves a pure electric range of 430 km and a combined range of 1,550 km, with a low energy consumption of 10.9 kWh/100 km in electric mode [15] - The G7 Super Range features a 55.8 kWh battery and a 60L fuel tank, allowing for a combined range of 1,704 km and a pure electric range of 430 km [25] - Both models support rapid charging capabilities, with the P7+ able to charge from 10% to 80% in just 12 minutes [15][25] Group 4: Safety Features - The P7+ meets dual five-star safety standards for China and Europe, incorporating advanced safety features such as a robust battery structure and a high-strength body [19] - The G7 Super Range includes comprehensive safety measures, with a battery pack featuring 17 safety protections and an active safety system for various driving conditions [29] - The vehicles are designed to provide a secure driving experience, with innovative safety technologies addressing complex road scenarios [19][29] Group 5: Market Position and Strategy - Xiaopeng Motors reported a 126% year-on-year increase in global deliveries, reaching 429,445 units in 2025, and aims to expand its market presence in over 60 countries [10] - The launch of these new models signifies Xiaopeng's strategic shift towards global markets, emphasizing its commitment to innovation and quality [10][37] - The company aims to integrate AI technology deeply into its products, enhancing user experience and establishing a strong foothold in the global automotive industry [37]

（原标题：70万手封死！002931，11连板！昨晚紧急提示：再涨或停牌核查！） 1月9日，A股三大指数开盘涨跌不一。沪指盘中突破4100点整数关口。 盘面上，算力硬件产业链调整，CPO、存储器方向领跌；半导体、锂矿、脑机接口题材跌幅靠前。房地产、油气板块涨幅靠前，商业航天题材仍 局部活跃。 多元金融板块盘初冲高，越秀资本涨停，九鼎投资、华金资本、海南华铁、中油资本、拉卡拉跟涨。 港股方面，恒生指数和恒生科技指数均飘红。科网股多数上涨，阿里巴巴、哔哩哔哩涨近5%，快手涨超2%。新股MINIMAX-WP在港交所上市， 开盘大涨逾40%。 另外，港股商业航天板块持续拉升。截至发稿，亚太卫星、金风科技涨超10%。中国技术集团、航天控股跟涨。 商业航天概念再度活跃 盘初，商业航天概念反复活跃，鲁信创投(600783)走出11天9板，杭萧钢构、巨力索具、银河电子、中衡设计涨停，信科移动、邵阳液压涨幅居 前。 消息面上，广州市人民政府办公厅印发《广州市加快建设先进制造业强市规划（2024—2035年）》提出，到2035年，打造具有全球影响力的天空 之城、中国商业航天新一极。《规划》还聚焦航天运载技术，要求重点突破深度变推 ...

Market Overview - On January 9, A-shares opened mixed, with the Shanghai Composite Index breaking through the 4100-point mark [1] - The computing hardware industry chain adjusted, with CPO and memory sectors leading the decline; semiconductor, lithium mining, and brain-computer interface themes also saw significant drops [1] - Real estate and oil & gas sectors showed strong gains, while the commercial aerospace theme remained active [1] - The multi-financial sector initially surged, with companies like Yuexiu Capital hitting the daily limit, followed by others such as Jiuding Investment and Huajin Capital [1] Hong Kong Market - The Hang Seng Index and Hang Seng Tech Index both showed positive performance, with tech stocks like Alibaba and Bilibili rising nearly 5%, and Kuaishou increasing over 2% [1] - New stock MINIMAX-WP debuted on the Hong Kong Stock Exchange, surging over 40% at the opening [1] - The commercial aerospace sector in Hong Kong continued to rise, with companies like Asia Pacific Satellite and Goldwind Technology gaining over 10% [1] Commercial Aerospace Sector - The commercial aerospace concept was notably active, with companies like Luxin Investment achieving 9 out of 11 consecutive trading limit-ups, and others like Hangxiao Steel Structure and Galaxy Electronics also hitting the limit [2] - The Guangzhou Municipal Government released a plan to accelerate the construction of an advanced manufacturing city, aiming to create a globally influential "Sky City" and a new hub for China's commercial aerospace by 2035 [4] Nuclear Fusion Sector - The controllable nuclear fusion sector saw a resurgence, with companies like Hongxun Technology achieving three consecutive limit-ups, and others like Shangda Shares and West Superconducting also rising [5] - Hongxun Technology clarified its position in the nuclear fusion market, stating that its revenue from this sector is minimal and does not significantly impact its overall performance [5] Humanoid Robot Sector - The humanoid robot concept experienced a rapid increase, with Fenglong Co. achieving 11 consecutive limit-ups, and significant buying activity noted [6] - The company announced that its stock had deviated significantly from market trends, indicating potential volatility and risks associated with speculative trading [6] Automotive Sector - Companies like Haozhi Electromechanical and Wanxiang Qianchao saw gains following the announcement of Xiaopeng Motors' global product launch event, where the CEO highlighted the transition to practical applications of AI and plans for mass production of humanoid robots and flying cars by 2026 [9]

Core Insights - Xiaopeng Motors launched four new models, including the P7+ and G7 super range versions, as well as the 2026 versions of the G6 and G9, effectively introducing six new products [1] - The company emphasized two key themes for 2026: physical AI and globalization, indicating a shift from technology exploration to practical application [1] - The second-generation VLA (Vehicle Language Architecture) is set to enable L4 autonomous driving capabilities, with significant advancements in understanding the physical world [5][11] Product Launch Details - The P7+ features a 49.2 kWh battery with a pure electric range of 430 km and a combined range of 1550 km, making it the world's longest-range extended-range sedan [22] - The G7 super range version has a 55.8 kWh battery and a combined range of 1704 km, claiming the title of the longest-range SUV [24] - Both models utilize an 800V high-voltage platform and support ultra-fast charging, with the P7+ achieving 80% SOC in just 12 minutes [24][26] Technological Advancements - The second-generation VLA aims to eliminate the language translation step in autonomous driving, allowing for direct generation of action commands from visual signals [7] - The VLM (Vehicle Language Model) enhances the in-car experience by adapting to passenger needs, such as adjusting climate control based on passenger attire [15] - The new AIOS 6.0 system and VLM will be integrated into all new models, enhancing user interaction and driving experience [36] Market Strategy - Xiaopeng Motors is focusing on expanding its presence in international markets, particularly in regions less favorable to electric vehicles, by promoting its extended-range models [19] - The company has seen significant sales growth, with the X9 super range model achieving record pre-orders and sales in November [21] - The introduction of the P7+ and G7 models is part of a broader strategy to capture market share in both domestic and international markets [19][21] Future Outlook - The company plans to launch Robotaxi services and scale production of flying cars by 2026, indicating ambitious growth and innovation plans [3] - Xiaopeng Motors aims to establish itself as a leader in the autonomous driving space, with the second-generation VLA expected to bring significant advancements in driving capabilities [11]