2025.11.24 本文字数：2510，阅读时长大约4分钟 作者 |第一财经 徐艺航 近期的一起诉讼，再次将隐藏式门把手推向争议的漩涡。作为逃生关键装置的门把手，在经历了一系列 技术创新后，成为了全球性的产品安全问题。 2025年11月21日，特斯拉（TSLA.O）在美国华盛顿州联邦法院被起诉，起因是一辆Model 3在事故中突 然失控加速，撞上电线杆起火，而"独特且有缺陷的门把手设计"导致车门无法打开，造成一死一伤。这 已是近期针对特斯拉车门系统的多起诉讼之一。针对隐藏式门把手可能存在的安全缺陷，美国国家公路 交通安全管理局（NHTSA）已开启对特斯拉的调查，涉及车辆约17.4万辆。 而在中国，在自燃事件中因为门把手拉不开而导致生命消逝的悲剧，使得门把手早已成为公众关注的焦 点。今年9月，工业和信息化部就《汽车车门把手安全技术要求》强制性国家标准公开征求意见，明确 要求车门把手必须预留机械冗余装置，征求意见截止日期是刚刚过去的11月22日。 一边是诉讼与监管双轨驱动的美国模式，一边是标准先行、前置规避风险的中国路径——围绕同一场安 全危机，全球都在共同推动技术创新带来的新风险。 特斯拉再因门把手被提起诉讼 ...

本文字数：2510，阅读时长大约4分钟 作者 | 第一财经 徐艺航 近期的一起诉讼，再次将隐藏式门把手推向争议的漩涡。作为逃生关键装置的门把手，在经历了一系 列技术创新后，成为了全球性的产品安全问题。 2025年11月21日，特斯拉（TSLA.O）在美国华盛顿州联邦法院被起诉，起因是一辆Model 3在事 故中突然失控加速，撞上电线杆起火，而"独特且有缺陷的门把手设计"导致车门无法打开，造成一 死一伤。这已是近期针对特斯拉车门系统的多起诉讼之一。针对隐藏式门把手可能存在的安全缺陷， 美国国家公路交通安全管理局（NHTSA）已开启对特斯拉的调查，涉及车辆约17.4万辆。 而在中国，在自燃事件中因为门把手拉不开而导致生命消逝的悲剧，使得门把手早已成为公众关注的 焦点。今年9月，工业和信息化部就《汽车车门把手安全技术要求》强制性国家标准公开征求意见， 明确要求车门把手必须预留机械冗余装置，征求意见截止日期是刚刚过去的11月22日。 一边是诉讼与监管双轨驱动的美国模式，一边是标准先行、前置规避风险的中国路径——围绕同一场 安全危机，全球都在共同推动技术创新带来的新风险。 2025.11. 24 特斯拉再因门把手被提起 ...

2025年11月21日，特斯拉（TSLA.O）在美国华盛顿州联邦法院被起诉，起因是一辆Model 3在事故中突 然失控加速，撞上电线杆起火，而"独特且有缺陷的门把手设计"导致车门无法打开，造成一死一伤。这 已是近期针对特斯拉车门系统的多起诉讼之一。针对隐藏式门把手可能存在的安全缺陷，美国国家公路 交通安全管理局（NHTSA）已开启对特斯拉的调查，涉及车辆约17.4万辆。 作为逃生关键装置的门把手，成为了全球性的产品安全问题。 近期的一起诉讼，再次将隐藏式门把手推向争议的漩涡。作为逃生关键装置的门把手，在经历了一系列 技术创新后，成为了全球性的产品安全问题。 一边是诉讼与监管双轨驱动的美国模式，一边是标准先行、前置规避风险的中国路径——围绕同一场安 全危机，全球都在共同推动技术创新带来的新风险。 特斯拉再因门把手被提起诉讼 而在中国，在自燃事件中因为门把手拉不开而导致生命消逝的悲剧，使得门把手早已成为公众关注的焦 点。今年9月，工业和信息化部就《汽车车门把手安全技术要求》强制性国家标准公开征求意见，明确 要求车门把手必须预留机械冗余装置，征求意见截止日期是刚刚过去的11月22日。 据报道，特斯拉因在华盛顿州发生 ...

特斯拉再被起诉。 据媒体报道，特斯拉在美国华盛顿州被起诉，此前发生的一起致命火灾事故导致一人死亡、一人重伤， 据称救援人员努力未能打开车辆的车门。这是针对该公司电动车门把手不断增加的诉讼中的最新一起。 该索赔源于2023年1月发生的一起事故。当时，Jeffery Dennis和他的妻子Wendy在一个周六下午驾驶他 们的Model 3轿车外出办事。根据周五在华盛顿州联邦法院提起的诉讼，这辆电动汽车"突然且快速地失 控加速"，撞上了一根电线杆并起火燃烧。诉状称，特斯拉"独特且有缺陷的车门把手设计"导致车门无 法操作，并阻碍了救援过程。Wendy当场死亡，Dennis受伤，包括腿部烧伤。 值得注意的是，特斯拉几周前才在威斯康星州被起诉。 在该起事故中，一辆Model S在碰撞后车门无法开启，车内五名乘客全部被困于迅速蔓延的火海中不幸 遇难。遇难者亲属向法院提起的诉状称，涉事车辆撞树起火后，车内人员原本在初始撞击中幸存，却因 车门锁止系统困于车内无法逃生。 对此，NHTSA要求特斯拉在12月10日前向其提交所有年款"在美国制造并用于销售或租赁的2021款特斯 拉Model Y车型"以及"同系车型"（包括2017至2 ...

Core Viewpoint - The Chinese smart electric vehicle industry is moving towards a future that prioritizes human-centered design and safety, necessitating stronger regulatory measures to address safety concerns arising from rapid technological advancements [1][8]. Regulatory Developments - The National Standardization Administration has initiated a draft for the "Technical Conditions for Motor Vehicle Operation Safety," which sets minimum safety, environmental, and performance standards for all vehicles on Chinese roads [2][5]. - The last revision of this standard was in 2017, and significant changes in the automotive industry, particularly the rise of new energy vehicles (NEVs) from a penetration rate of 2.7% to over 50%, have prompted this update [2][5]. Safety Concerns - Recent incidents involving electric vehicles, such as battery fires, autonomous driving failures, and difficulties in emergency exits, highlight critical safety issues that need to be addressed [3][4]. - The complexity of responsibility attribution in accidents involving smart driving systems complicates consumer protection, as data is often controlled by manufacturers, making it difficult for consumers to assert their rights [3][4]. Industry Challenges - Some manufacturers prioritize high energy density and low costs in battery design, potentially compromising safety [3]. - The entry of internet companies into automotive manufacturing has led to a focus on marketing over rigorous safety standards, creating a "gray area" where companies can exploit regulatory loopholes [4][5]. Upcoming Standards - The automotive industry is undergoing a comprehensive upgrade of mandatory national standards, with several key safety performance requirements being elevated to mandatory status [6][7]. - New standards include the "Safety Requirements for Power Batteries for Electric Vehicles," which mandates that batteries must not catch fire or explode, and specific regulations for hidden door handles to ensure safety during emergencies [7]. Market Implications - The shift towards stringent regulations is expected to compel companies to redirect resources from flashy marketing to solid technical research and safety validation [8]. - As regulations clarify the boundaries for all players, competition in the market is anticipated to shift from quantity to quality and safety, marking a significant transition for the industry [8].

Core Viewpoint - The article discusses the evolution of electric vehicles (EVs) and critiques the design choices made by automakers, particularly the shift towards touchscreens and hidden door handles, which may compromise safety and user experience [5][22][45]. Group 1: Evolution of Electric Vehicles - Electric vehicles have transformed from being seen as niche products to becoming mainstream, overcoming initial skepticism regarding range and charging efficiency [5]. - The introduction of Tesla's Model S in 2012 marked a significant turning point in the automotive industry, establishing a new standard for smart electric vehicles [8][9]. Group 2: Design Trends and Critiques - Tesla's design philosophy emphasizes minimalism, reducing mechanical components in favor of sleek, touch-based interfaces, which has influenced many other automakers [9][12]. - The trend of integrating large touchscreens and eliminating physical buttons has led to usability challenges, particularly in critical functions like defrosting and door operation [11][30][31]. Group 3: Safety and Usability Concerns - The shift to touchscreens and hidden door handles raises significant safety concerns, as these designs can distract drivers and complicate emergency situations [40][41]. - Regulatory bodies are beginning to respond to these concerns, with new guidelines requiring physical buttons for certain functions to ensure safety [42][43]. Group 4: Future Directions - The automotive industry may move towards a hybrid approach, combining touchscreens with essential physical buttons to balance innovation with safety and usability [45]. - The article suggests that while the design of electric vehicles is evolving, practical solutions like heat-resistant films for glass roofs are still necessary to enhance user comfort [46].

Core Viewpoint - The electric vehicle (EV) industry has evolved significantly over the past decade, overcoming initial skepticism regarding range and charging efficiency, but it has also introduced design elements that may complicate user experience, such as glass roofs, touchscreens, and hidden door handles [1][2][4]. Group 1: Evolution of Electric Vehicles - The launch of the Tesla Model S in 2012 marked the beginning of the smart electric vehicle era, receiving accolades for its innovative design [2][3]. - Tesla's design philosophy emphasizes the removal of mechanical components in favor of a sleek, intelligent interface, aiming for a futuristic automotive experience [2][4]. Group 2: Industry Trends and Challenges - Many automakers have adopted Tesla's design elements, leading to a trend where physical buttons are minimized, and touchscreens dominate vehicle controls [5][6]. - New entrants in the market are pushing for "zero buttons, all touchscreen" interfaces, which can complicate user interactions, especially in critical situations [7][9]. Group 3: User Experience and Safety Concerns - The shift to touchscreens and hidden door handles has raised concerns about usability, particularly in emergency situations where traditional controls may be more intuitive [19][30]. - The automotive industry has historically prioritized safety in user interactions, but the current trend may compromise this principle by prioritizing aesthetics and convenience over safety [30][31]. Group 4: Regulatory Responses - Regulatory bodies are beginning to respond to these design trends, with new safety requirements that may limit the use of hidden door handles and emphasize the need for physical buttons for critical functions [31][34]. - The European New Car Assessment Programme (E-NCAP) and China's Ministry of Industry and Information Technology are both advocating for a return to more traditional controls to ensure safety [31][34]. Group 5: Future Directions - The industry may move towards a hybrid model that combines touchscreens with essential physical buttons to balance safety and modern design [37]. - As technology advances, there is potential for improved user interfaces that maintain safety while offering the benefits of modern design elements [37].

Core Viewpoint - The article discusses the evolution and challenges of electric vehicles (EVs), highlighting the shift from traditional mechanical components to modern design elements like glass roofs, touchscreens, and hidden door handles, while raising concerns about safety and usability [3][5][26]. Group 1: Evolution of Electric Vehicles - The introduction of the Tesla Model S in 2012 marked a significant turning point in the electric vehicle industry, being recognized as a groundbreaking invention [8][10]. - Tesla's design philosophy aimed to eliminate mechanical components in favor of a sleek, minimalist aesthetic, which has influenced many automakers [9][12]. - The trend of integrating large touchscreens and hidden door handles has become prevalent, often at the expense of user-friendliness and safety [13][23]. Group 2: User Experience and Safety Concerns - The shift to touchscreens and hidden controls has led to usability issues, with drivers struggling to locate essential functions quickly, especially in emergencies [35][45]. - The article emphasizes that the automotive industry has historically prioritized safety, but recent trends may compromise this principle by prioritizing aesthetics over functionality [44][55]. - Regulatory bodies are beginning to respond to these concerns, with new safety requirements for physical buttons and controls being proposed [47][48]. Group 3: Future Directions - The article suggests a potential shift towards a hybrid approach, combining touchscreens with essential physical buttons to enhance safety and usability [56][57]. - It anticipates that by 2027, a balanced integration of technology and traditional controls will likely emerge, addressing both design and safety needs [58][59].

Core Viewpoint - The article emphasizes the growth potential of Jifeng Co., Ltd. in the automotive seat industry, driven by product upgrades and domestic substitution opportunities, particularly in the context of the increasing demand for passenger car seats and the company's strategic initiatives to enhance profitability and expand its global customer base [1][5][18]. Financial Performance - In Q3 2025, Jifeng Co., Ltd. achieved a revenue of 5.608 billion yuan, a year-on-year decrease of 4.94% but a quarter-on-quarter increase of 2.23%. The net profit attributable to shareholders was 97 million yuan, marking a turnaround from a loss of 585 million yuan in the same period last year, with a sequential growth of 97% [2][3][9]. - The company's gross profit margin for Q3 2025 was 16.48%, up 2.4 percentage points year-on-year and 2.09 percentage points quarter-on-quarter. The net profit margin was 1.73%, reflecting a year-on-year turnaround and a quarter-on-quarter increase of 0.84 percentage points [4][12]. Business Development - The passenger car seat segment is a significant market with a value ranging from 4,000 to over 10,000 yuan per unit. The company reported a doubling of revenue in this segment to 1.984 billion yuan in the first half of 2025, compared to 897 million yuan in the same period last year [5][18]. - Jifeng Co., Ltd. has established multiple seat production bases across China and is expanding its global footprint, including a joint venture in Germany to serve European clients like BMW. As of July 31, 2025, the company had 24 ongoing projects for passenger car seats [18][19]. Product Innovation - The company is actively developing new products such as hidden electric air vents and hidden door handles, which are gaining traction in the market. The smart air vent business generated 136 million yuan in revenue in the first half of 2025, while the car refrigerator segment saw revenues of approximately 77 million yuan, reflecting significant growth [20][21]. Market Position - Jifeng Co., Ltd. is positioned as a leading player in the domestic automotive seat market, with a focus on high-value components. The company aims to capitalize on the growing demand for domestic substitutes in the automotive supply chain, particularly as new energy vehicle manufacturers emerge [5][19].

Investment Rating - The investment rating for the company is "Outperform the Market" [5][27]. Core Insights - The company reported a net profit of 0.97 billion yuan in Q3 2025, a significant turnaround from a loss in the same period last year, with a quarter-on-quarter growth of 97% [7][12]. - Revenue for Q3 2025 was 56.08 billion yuan, reflecting a year-on-year decline of 4.94% but a quarter-on-quarter increase of 2.23% [7][12]. - The improvement in profitability is attributed to ongoing cost reduction and efficiency measures, as well as the realization of scale effects in the seating business [7][12]. - The gross profit margin for Q3 2025 was 16.48%, up 2.4 percentage points year-on-year and 2.09 percentage points quarter-on-quarter [12]. - The company has made significant progress in its passenger car seat business, achieving a revenue of 19.84 billion yuan in the first half of 2025, which is a year-on-year increase of 100% [20][22]. Summary by Sections Financial Performance - In Q3 2025, the company achieved a net profit margin of 1.73%, a year-on-year turnaround and a quarter-on-quarter increase of 0.84 percentage points [12]. - The company’s operating expenses as a percentage of sales for Q3 2025 were 1.34% for sales, 6.67% for management, 3.73% for R&D, and 1.69% for financial expenses [12]. - The company expects to realize net profits of 5.04 billion yuan, 9.40 billion yuan, and 12.76 billion yuan for the years 2025, 2026, and 2027 respectively [27]. Business Development - The passenger car seat market is a significant opportunity, with the company positioned as a leading player in the domestic market, having secured 24 projects with global clients as of July 31, 2025 [20][21]. - The company is expanding its product offerings, including hidden electric air vents and car refrigerators, which are expected to contribute to growth [24][26]. - The company has established multiple seating production bases across China and is also expanding its global footprint through partnerships, including a joint venture in Germany to supply BMW [21][22]. Market Position - The company is positioned to benefit from the ongoing trend of domestic substitution in the passenger car seat market, which is currently dominated by foreign players [20][24]. - The company’s competitive advantages include cost efficiency and rapid response capabilities, which are critical in the customer-driven sales model of the automotive parts industry [20][24].