以下文章来源于36氪汽车 ，作者李勤 李安琪 36氪汽车 . 看懂汽车产业新百年。36氪旗下智能电动车产业报道公号。 文 ｜ 李勤 李安琪 编辑 ｜ 杨轩 李勤 来源｜ 36氪汽车（ID:EV36kr） 封面来源 ｜ IC Photo "英伟达强到无敌后，老黄眼中没有敌人，都是客户。" 英伟达市值冲上4万亿美元、成为全球第一之时，黄仁勋访华，他把中国车企全都夸了一遍，这段视频全网流传后，有网友如此调侃。 但骄阳之下也有耀斑。这些被黄仁勋拉拢的优秀车企们，正试图甩开英伟达。 "very scary（相当可怕）。" 通用汽车高管评测英伟达辅助驾驶方案后，在内部给出了上述评价。今年3月，英伟达CEO黄仁勋亲口宣布了双方的合作，通用汽车计划基于英伟达技术， 打造自动驾驶车队。他还展示了英伟达汽车业务的蓬勃前景:与丰田、奔驰等都达成了合作，预计2026年，自动驾驶业务将创造50亿美元收入。 但通用本月初的评审，让双方合作蒙上了阴影。据36氪汽车了解，英伟达自动驾驶团队已经将结果"通知了老黄（黄仁勋）"。 汽车创新业务上，已经不是英伟达第一次碰壁。在通用汽车高管之前，奔驰也给出过类似评价。 去年6月，奔驰CEO康林松和他 ...

据公开信息，一汽自去年起即与卓驭团队洽谈投资，期间评估多种交易方案。虽曾有一汽拟控 股卓驭的传闻，但据我们了解，若此轮交易能够顺利完成，卓驭仍保持业务和管理独立，一汽 未实现控股或并表，其与大疆都是卓驭重要股东。 加上一汽，卓驭目前至少获得 4 家车企投资，其他 3 家为比亚迪、上汽、北汽，均为其合作客户（上 汽通过上汽通用五菱）。卓驭官宣过的其他车企客户还包括大众、奇瑞、东风、长城、奥迪。 目前该交易仍处谈判过程中，交易完成后卓驭继续保持业务和管理团队的独立。 文 丨 郭瑞婵 编辑 丨 龚方毅 我们独家获悉，卓驭科技与一汽正在商讨后者进行战略投资的事宜，总计超 8 亿美元的股权交 易（约合人民币 60 亿元），投后估值逾百亿元。 接近该交易的知情人士透露，本轮投资除了有中国一汽的战略投资，还有其他车企、产业资金 参与。 除了带来更丰富的产品线，卓驭正在学习更灵活地面对行业变化、补充技术与产品之外的能力。卓驭 CEO 沈劭劼近期对外表示，卓驭可以提供多样化的合作模式，面对不同客户需求，能交付软硬一体、 部分软硬一体或纯软件等不同方案。今年，卓驭重点建设销售与商务能力，引入具有博世与华为背景 的新销售负责人，重 ...

Core Viewpoint - Zeekr has officially unveiled its new flagship SUV model, Zeekr 9X, during the Haohan-S architecture and Zeekr 9X technology launch event, showcasing advanced technologies including "Haohan Super Electric Hybrid," "Haohan AI Digital Chassis," and "Qianli Haohan Intelligent Driving Assistance" [1][3]. Group 1: Powertrain and Performance - The Zeekr 9X features the Haohan Super Electric Hybrid system, which is a dedicated hybrid technology developed on a pure electric architecture, achieving a peak power output of 1030 kW (approximately 1400 horsepower) [3]. - All variants of the Zeekr 9X can accelerate from 0 to 100 km/h in under 3 seconds, with only a 0.2-second difference in acceleration time between fully charged and depleted states, ensuring consistent performance for users [3]. - The system is paired with a 2.0T hybrid-specific engine that boasts a thermal efficiency of over 46%, optimizing fuel economy while maintaining power [3]. Group 2: Chassis and Comfort - The Zeekr 9X is equipped with the Haohan AI Digital Chassis, which includes closed dual-chamber air suspension, CCD electromagnetic dampers, and a 48V active stabilizer bar, aimed at enhancing vehicle stability during high-speed cornering and overall driving comfort [4]. - The intelligent chassis has strong all-terrain adaptive capabilities, intelligently matching various complex road conditions such as deep snow and mud, and can control body deviation within 20 cm under 100 km/h crosswind conditions [4]. Group 3: Safety Features - The vehicle incorporates the "Haohan Safety Armor" body structure, achieving a torsional rigidity of 41600 Nm/degree, with over 91% of high-strength steel and aluminum alloy used in its construction [4]. - The launch emphasized four industry-first integrated structures, including an integrated hot-formed door ring and an integrated die-cast aluminum rear body, further enhancing passive safety performance [4]. Group 4: Intelligent Driving - The Zeekr 9X will debut the "Qianli Haohan H9" intelligent driving assistance system, featuring a unique five-laser radar perception scheme for 360-degree coverage [4]. - It is powered by dual NVIDIA Thor-U driving chips, providing a total computing power of 1400 TOPS, laying the hardware foundation for L3-level intelligent driving assistance [4]. - The system employs a unique "dual end-to-end large model" algorithm, supplemented by a safety adversarial model, creating a dual redundancy guarantee in its algorithms [4]. Group 5: Market Launch - The Zeekr 9X is set to officially start pre-sales at the Chengdu Auto Show at the end of August this year [8].

Investment Rating - The report maintains an "Outperform" rating for the automotive industry [1] Core Insights - The report highlights the resilience of private car manufacturers, emphasizing their strong profitability and the acceleration of advanced driver-assistance systems (ADAS) by 2025. Key players like BYD and Geely are expected to lead in this area [3][13] - The report notes that new energy vehicle (NEV) sales are projected to remain robust, particularly in the second half of 2025, driven by favorable policies and tax exemptions [12][10] - State-owned enterprises are facing profitability challenges but are actively collaborating with Huawei to transform their business models towards electrification and smart technologies [4][16] Summary by Sections 1. Overall Automotive Industry - The automotive sales in China surpassed 30 million units in 2023, with exports being a significant growth driver. Domestic sales have not yet returned to 2017 levels [6][7] - Policies such as the vehicle replacement program are expected to stimulate demand, potentially adding 3.5 million units in 2025 [11][10] 2. Major Private Car Manufacturers - Private manufacturers are showing strong operational resilience, with profitability driven by high-end strategies, exports, and NEV scale effects. BYD's net profit for 2024 is projected at 37 billion yuan, a 29.9% increase year-on-year [14][15] - The report indicates that private manufacturers are leading the penetration of ADAS in the market, with significant advancements expected by 2025 [24][25] 3. Major New Forces in Automotive - New entrants are under pressure to achieve self-sustainability, with a focus on new product launches to validate growth potential. Companies like Li Auto and Xpeng are expected to introduce new models in 2025 [32][40] - The report notes that while losses are narrowing for these companies, the urgency to establish self-funding capabilities is increasing due to changes in the financing environment [37][39] 4. Major State-Owned Enterprises - State-owned enterprises are experiencing weaker profitability due to various factors, including declining investment returns from joint ventures and challenges in achieving scale in NEVs [16][4] - Collaborations with Huawei are being intensified to facilitate the transition towards smart and electric vehicles [4][16] 5. Investment Recommendations - The report recommends investing in private manufacturers like Seres, BYD, Great Wall Motors, and Geely due to their strong profitability and market positioning. It also suggests monitoring new entrants like Li Auto, Xpeng, and Xiaomi for their growth potential [3][4]

Group 1: Financial Performance - In Q1 2025, Leap Motor reported revenue of 10.02 billion, a year-on-year increase of 187% [1] - The net profit for Q1 2025 was -130 million, showing a significant reduction in losses compared to the previous year [1] - The overall gross margin reached a historical high of 14.9%, a substantial improvement from -1.4% in Q1 2024, driven by increased sales, cost management, and product optimization [1] Group 2: Research and Development - Leap Motor achieved a high-efficiency self-research model, developing an auxiliary driving solution based on Qualcomm 8650 within six months [1] - The company’s self-developed end-to-end auxiliary driving system, combined with Qualcomm 8650 chips and Hesai LiDAR, will support upcoming features like urban memory commuting and urban NOA [1] Group 3: Market Expansion - From January to April 2025, Leap Motor exported 13,632 units, making it the leading new car manufacturer in terms of export volume [2] - As of March 2025, Leap Motor has established over 500 sales and after-sales service points overseas, with more than 450 in Europe and nearly 50 in the Asia-Pacific region [2] - The Malaysian factory is expected to start local assembly of the C10 model by the end of 2025, while the European factory aims for local production in 2026 [2] Group 4: Product Planning and Outlook - The B10 model was launched on April 10, 2025, with over 10,000 units delivered; additional models B01 and B05 are set to be released in the second half of the year [2] - For 2025, the company anticipates total deliveries of 500,000 to 600,000 vehicles, with a gross margin of 10-12%, aiming for breakeven [2] - Revenue projections for 2025-2027 are 59.6 billion, 83.1 billion, and 101.6 billion respectively, with year-on-year growth rates of 85%, 40%, and 22% [2]

（原标题：2025上海车展，零部件企业破局重构产业格局） 2025上海车展零部件展区，跨国巨头与本土领军企业同台竞技，共同勾勒出全球汽车产业变革的新图景。汽车供应链行业正经历着 从"配套者"到"引领者"的蜕变。 值得一提的是，全球零部件百强企业中，超半数亮相2025上海车展。其中，博世、采埃孚、麦格纳、大陆等企业的展台面积数千平方米，形成零 部件巨头的"超级矩阵"。这些企业不仅展示了成熟的量产产品，更带来了前沿的概念技术，引领行业发展方向。 在汽车产业百年变革的惊涛骇浪中，2025上海车展成为观察行业动向的绝佳窗口。当人们将目光投向整车展区时，零部件板块正以雷霆万钧之势 重塑格局。10万平方米的展区面积、超半数世界百强供应商的齐聚、近 50 家科技新贵的首秀，让这场零部件企业的盛宴，不仅成为技术的炫技 场，更是产业话语权提升的见证。 盛况空前： 2025上海车展零部件展区全景扫描 2025上海车展，总面积达36万平方米，其中零部件展区独占10万平方米，相当于14个标准足球场大小，成为史上规模最大的零部件展示平台。4个 独立展馆内，来自全球28个国家和地区的超1500家零部件企业同台竞技，展品涵盖智能驾驶、新能 ...

"过去一个多月，是我创办小米以来最艰难的一段时间。"沉默了40天后，雷军终于发声，直面小米SU7致命车祸引发的信任危机。 在这40天里，不只是小米，整个行业都在重新审视智能驾驶。从更名"辅助驾驶"开始，行业对于智能驾驶技术的态度正变得更加理智与冷静。 宣传在降温，但市场的热潮并没有退去。 中国电动车百人会最新的调查数据显示，大多数消费者愿意为领航辅助驾驶功能付费，甚至有近30%的消费者愿意支付1万元以上。越来越多的消费者在 购车时关注智能辅助驾驶功能，直接带动了智能驾驶在市场中加速渗透。乘联会的统计数据显示，2025年1-2月，在新能源乘用车市场，L2级及以上辅助 驾驶功能装车率达到66.3%，16万元以下市场智驾装车率进一步增长。 智能化将推动电动化的再提速。乘联会的统计数据显示，今年4月，我国新能源乘用车渗透率已超越燃油车，达到51.5%。中国电动车百人会预测，到 2030年，中国新能源汽车渗透率将超过70%。 一边是安全伦理的理性克制，一边是消费者购买意愿与渗透率不断上升的市场狂热，冰与火的碰撞中，行业正在撕裂与重构中寻找新的平衡。 智驾加速渗透 成为销量增长"密码" 当"价格战"的硝烟散去，智驾技术的 ...

Core Viewpoint - The 2025 Shanghai Auto Show emphasizes "safety" as a central theme, reflecting regulatory pressures, industry standards, and consumer awareness regarding technology boundaries [1][2][3] Regulatory Environment - The Ministry of Industry and Information Technology held a meeting to enforce regulations against exaggerated and false advertising by automakers, requiring clear definitions of system functionalities and safety measures [1] - The China Automobile Industry Association and the China Automotive Engineering Society issued a joint statement urging companies to adhere strictly to the "Automated Driving Classification" to avoid misleading representations [1] Consumer Behavior - Consumers are shifting their focus from "cool features" to "actual reliability" when purchasing vehicles, demanding transparency and accountability from automakers regarding legal responsibilities [2] - Sales personnel report that customers are increasingly asking for written commitments regarding the functionalities of vehicles [2] Industry Response - Automakers are adjusting their marketing strategies, with the term "autonomous driving" nearly disappearing in favor of more cautious language like "assisted driving" [2] - Companies are showcasing safety through redundancy designs and scenario validations rather than merely competing on hardware specifications [3] Safety Initiatives - Various companies, including Huawei and several automotive groups, have launched initiatives to promote safety in intelligent driving technologies, emphasizing that safety is fundamental to the industry's long-term development [3] - The establishment of safety technology laboratories and public demonstrations of safety features are part of efforts to build consumer trust [3] Future Outlook - The competition in the automotive industry is shifting from storytelling to making reliable commitments, with future winners likely to be those who effectively balance safety redundancy, data integrity, and cost control [3]

Core Insights - The joint venture automotive companies in China are undergoing a significant transformation towards smart technology, particularly among German automakers like Volkswagen, which heavily rely on the Chinese market [1][5] Group 1: Volkswagen's Strategy in China - Volkswagen has established an independent technology company, VCTC, in Anhui, transferring all technical authority and responsibilities from its headquarters in Wolfsburg to this new entity [4][12] - VCTC will serve as the sole technical cooperation interface for joint ventures like SAIC Volkswagen and FAW-Volkswagen, allowing for more efficient collaboration tailored to the Chinese market [4][12] - The establishment of VCTC aligns with Volkswagen's overarching strategy of "In China, for China," which aims to shield its operations from global trade uncertainties [5][13] Group 2: Collaborations and Investments - Volkswagen has made significant investments in local companies, including €2.4 billion in Horizon Robotics in 2022 and $700 million in Xpeng Motors in 2023, to enhance its smart driving capabilities [6][7] - The partnership with Horizon Robotics has led to the creation of a joint venture, CARIZON, which focuses on advanced driver-assistance systems (ADAS) [9][14] - The collaboration model with Horizon Robotics emphasizes a co-development approach, breaking away from traditional supplier relationships to foster more transparent and efficient development processes [9][15] Group 3: Technological Development and Market Adaptation - The CEA electronic and electrical architecture developed by Volkswagen is specifically tailored for the Chinese market, allowing for rapid implementation of advanced driving assistance features [11][15] - Volkswagen aims to achieve L2+ and L2++ level driving assistance functionalities quickly, with plans to pave the way for L3 capabilities by the end of 2027 [11][15] - Despite the advancements, the CEA architecture is not currently compatible with high-end brands like Porsche, which follow European design standards [11][17]

4 月 24 日，奥迪新品牌 AUDI 携手全球领先的智能驾驶公司 Momenta 正式宣布，联合打造 行业首个 " 德系电动豪华标准 + 飞轮大模型 " 智能 辅助驾驶方案 ，共同定义豪华智能辅助驾驶标准，打造豪华智能辅助驾驶新范式。 Momenta加速扩展全球"朋友圈" 随着携手全新品牌 AUDI 共同打造智能辅助驾驶方案， Momenta 的全球"朋友圈"阵容再添一名明星伙伴。目前， 在全球 TOP10 汽车厂 商中，与 Momenta 开展业务合作的已经占到 70% ，真正成为"全球品牌的共同选择"， 充分展现出了在全球智驾行业内的强大影响力及 受认可程度。 在 " 锐启新境 "2025 上海国际车展上汽奥迪发布会上， Momenta CEO 曹旭东表示："奥迪一直秉持 ' 美美与共 ' 的合作理念。在智能化领域， Audi DNA meets China innovation ，我们双方的合作正是 德系豪华驾控和中国 AI 智慧的深度融合 。 " 01 飞轮大模型赋能AUDI Driving DNA Momenta 作为业内首个发布量产飞轮大模型的企业，创新性地将感知与规划整合进一个大模型中，形成一 ...