鸿华先进明确"赋能者"定位，在无CDMS客户的区域，将从市场开发、消费群培养到服务体系搭建，提供全生命周期解决方案，强 化全球生态影响力。自2020年成立以来，鸿华先进已完成开放式EV平台奠基、三款自研电动车亮相、商用与乘用车型量产交付等关 键里程碑，此次品牌整合将助力其进一步聚焦纯电业务，推动全球电动汽车产业生态构建。 纳智捷则由裕隆汽车集团于2008年5月29日成立，前身为裕隆集团旗下整车研发与制造业务板块，核心定位"豪华+智慧"，曾是两岸 汽车产业合作的代表性品牌。2010年，裕隆集团与东风汽车集团合资成立东风裕隆，纳智捷正式进入中国大陆市场，巅峰时期在两 岸及中东市场均有布局，全台展示中心与大陆经销商网络（巅峰期超200家）覆盖广泛，优6SUV、URX等车型曾长期占据台湾SUV 销量前列。 作为台湾电动车产业的早期探索者，纳智捷早在品牌初期便布局电动车研发，依托华创车电技术推出LuxgenEV+系列车型，2009年 发布首款电动车Luxgen7 MPV EV+，2010年完成台湾地区首批电动车上路挂牌。其末期唯一量产电动车纳智捷n7于2022年9月发布， 由鸿华先进基于Model C原型车打造，定位" ...

Core Viewpoint - The end of the full exemption of vehicle purchase tax in China starting in 2026 will significantly increase consumer costs, yet the anticipated surge in vehicle purchases has not materialized, revealing market fatigue [1][2]. Industry Overview - The impending policy change has led consumers to rush purchases in 2025, resulting in a temporary spike in sales but an overall decline in growth rates due to market saturation [2]. - The automotive industry is experiencing extreme price competition, leading to compressed profit margins and layoffs among major manufacturers [2]. Mergers and Acquisitions - Recent acquisition rumors, including Foxconn's full acquisition of the struggling brand Luxgen and potential restructuring of Zotye by OPPO/vivo and others, indicate a shift in strategy among major players [3][9]. - Foxconn's acquisition of Luxgen is seen as a strategic move to leverage the brand for its electric vehicle ambitions, transitioning from a contract manufacturer to a legitimate automotive player [7][8]. Brand Analysis - Luxgen, once popular for its electronic features, has suffered from high fuel consumption and outdated technology, leading to its exit from the mainland market in 2020 [6]. - Despite its tarnished reputation, Luxgen's existing infrastructure and brand recognition provide Foxconn with a platform to showcase its technological advancements in electric vehicles [8]. Competitive Landscape - The entry of tech giants like Xiaomi and Huawei into the automotive sector has intensified competition, prompting traditional players to seek strategic partnerships to maintain relevance [11][12]. - Zotye's production capacity and qualifications have become valuable assets in the current market, attracting interest from major tech firms looking to secure a foothold in the automotive industry [9][10]. Future Outlook - The end of the vehicle purchase tax exemption marks a significant shift in the Chinese automotive landscape, with increased operational pressures and competition expected [16][17]. - The focus will shift from merely acquiring technology to integrating supply chain management and creating comprehensive ecosystems in the automotive sector [17].