Core Viewpoint - The launch of the new remote star enjoy V7E marks a significant addition to the remote new energy commercial vehicle lineup, redefining the value ecosystem of urban distribution and intercity logistics with its three core advantages: smart driving control, premium space, and versatile functionality [1][8]. Group 1: Market Context - The logistics market in China is currently complex, with both challenges and opportunities arising from the global economic environment. The ownership of new energy VAN products in China has exceeded 1.2 million units, with over 40% market share from January to May this year, establishing them as the main force in urban distribution logistics [3][4]. - The market faces challenges such as product homogenization, where different brands and models exhibit high similarity in features, leading to a "copycat" product matrix [3]. Group 2: Product Positioning and Features - The remote star enjoy V7E fills the product gap between the remote star enjoy V6E and the remote super VAN, enhancing the brand's global layout and product matrix [8]. - The V7E is designed for short-distance urban distribution, built on the third-generation urban new energy light vehicle platform, and features the remote Xuanwu powertrain, which integrates multiple technologies to meet user demands for efficiency and safety [9][11]. - The vehicle is equipped with a 51.4 kWh Xuanwu battery, offering a CLTC range of 375 kilometers, with plans to expand to a 460-kilometer range in the future. It achieves a low energy consumption of 13.8 kWh per 100 kilometers [11]. Group 3: Loading and Safety Features - The V7E boasts a cargo compartment length of 2870mm, expandable to 4100mm, with a maximum cargo volume of 7.5m³, making it highly competitive in its price range. It features a 270° magnetic tailgate and side sliding doors for easy loading and unloading [13]. - The Xuanwu battery offers the industry's longest warranty of 10 years or 800,000 kilometers and has passed rigorous safety tests, ensuring high durability and safety standards [15]. Group 4: Business Model and User Engagement - The company has shifted from a simple vehicle sales model to a more integrated ecosystem approach, offering a five-in-one solution that includes sales, value protection, easy leasing, vehicle-battery separation, and worry-free rentals [16]. - The launch event introduced seven major purchase benefits for the first batch of vehicle owners, covering all usage scenarios and enhancing user engagement through partnerships with platforms like Didi Freight [18].

Investment Rating - The report does not explicitly state an investment rating for the light commercial vehicle industry Core Insights - The light commercial vehicle market is expected to see stable growth in 2025, with an estimated total sales volume of 2.82 million units, representing a year-on-year increase of 3.5% [46] - The new energy small VAN market is projected to grow significantly, with sales reaching 245,000 units in 2024, a year-on-year increase of 47.2% [28] - The report highlights the introduction of innovative products such as Jiangling's "Blue Flame Power Platform" and the Oumako Smart Blue ES1 electric light truck, which aim to address market demands and consumer concerns regarding range and efficiency [11][18] Industry Insights - Jiangling has launched the "Blue Flame Power Platform," which features advanced technologies for fuel efficiency and performance, including a maximum thermal efficiency of 45.23% and a fuel consumption of 1.2L per 100 km [15][13] - The Oumako Smart Blue ES1 electric light truck is designed for urban transportation needs, offering a range of 500 km and fast charging capabilities [20][23] - The new energy small VAN market is dominated by small and medium-sized vehicles, which account for over 80% of total sales, with a compound annual growth rate (CAGR) of 50.2% from 2019 to 2024 [28] Product Analysis - The report categorizes companies in the new energy VAN market into three groups based on their penetration rates: A-class (100% new energy), B-class (30%-60% new energy), and C-class (below 25% new energy) [31] - A-class companies like Yuan Cheng focus solely on new energy products, while B-class companies like SAIC-GM-Wuling balance traditional fuel and new energy offerings [31] - The report emphasizes the potential for traditional fuel microbus users to upgrade to new energy small VANs, driven by government incentives and lower operational costs [38] Sales Forecast - The light commercial vehicle market is projected to experience stable growth, with government investment expected to boost demand in urban logistics and cold chain transportation [46] - The report notes that while there are positive growth factors, challenges such as geopolitical tensions and low consumer confidence may hinder sales performance [46] - The overall market for light commercial vehicles is expected to remain steady, with a total sales forecast of 2.82 million units in 2025, reflecting a modest increase from previous years [46]

Core Viewpoint - The article discusses the rapid growth and transformation of the new energy VAN market in China, highlighting key developments, market segmentation, and sales forecasts for the coming years [2][4][12]. Product Analysis - Jiangling Motors launched the "Blue Flame Power Platform," a new energy brand focusing on advanced technologies for diesel engines [2]. - The new energy small VAN market is projected to grow significantly, with sales expected to reach 245,000 units in 2024, representing a year-on-year increase of 47.2% and a compound annual growth rate of 50.2% from 2019 to 2024 [4]. - In the first two months of 2025, sales reached 31,000 units, showing a remarkable year-on-year growth of 92.3% [4]. Market Segmentation - The new energy VAN market can be divided into three categories based on penetration rates: - A-class: 100% penetration, focusing solely on new energy products (e.g., Yuan Cheng, Rui Chi, Kai Rui) [6]. - B-class: 30%-60% penetration, balancing traditional fuel and new energy (e.g., Wuling, Changan, Foton, Dongfeng) [6]. - C-class: below 25% penetration, primarily traditional fuel vehicles (e.g., Jiangling, SAIC Maxus) [6]. A-Class Company Research - Yuan Cheng is developing small and medium VANs based on a pure electric platform, with rapid sales growth for its models [8]. B-Class Company Research - SAIC-GM-Wuling has historically focused on traditional fuel vehicles but is expanding its new energy offerings, with the Wuling Yangguang model expected to outperform competitors in pricing and space [10]. Policy Impact - The "trade-in" policy for old vehicles is expected to stimulate demand for new energy vehicles, with significant potential for upgrading traditional fuel microbuses, as there are over 1.3 million units eligible for replacement [12]. Sales Forecast - The light commercial vehicle market is expected to see stable growth in 2025, with total sales projected at 2.82 million units, reflecting a year-on-year increase of 3.5% [16].