导读：2026年西班牙电动车市场的销量冠军或将迎来"交接时刻"。 （文 / 观察者网 周盛明 编辑 / 高莘） 在这一过程中，比亚迪等中国车企，正在成为西班牙电动车市场中的关键变量。 从全年数据来看，Model 3全年销量同比下滑9.6%，而Model Y则同比增长9.4%。 对于西班牙电动车市场来说，更具性价比优势的电动车正在异军突起。 12月，比亚迪Dolphin Surf（海鸥）以697辆的成绩跻身第三，紧随其后的是比亚迪Atto 2（元UP）和雪 铁龙C3。 值得注意的是，零跑汽车的表现也较为亮眼。依托零跑T03和零跑B10两款车型，其月度销量已超越雷 诺、斯柯达等老牌车企。 此外，起亚EV3、Jeep Avenger、雷诺 R5等车型也开始频繁出现在西班牙电动车销量榜中，这表明产品 多样化正在推动西班牙消费者完成电动化转变。 纵观2025年全年，西班牙纯电动车销量同比大增77%，突破10万辆的关键转折点，达到104262辆。 西班牙汽车与卡车制造商协会（ANFAC）日前公布的数据显示，特斯拉12月在西班牙的新车销量同比 大跌44.2%，为1794辆。 与此同时，比亚迪在西班牙的销量表现优异：12月以 ...

Core Viewpoint - The new energy vehicle market in 2025 did not experience a significant year-end surge due to policy exhaustion and consumer hesitation, but several companies achieved substantial year-on-year growth in deliveries, with Leap Motor and Xpeng Motors doubling their delivery volumes, while NIO showed a recovery in the second half of the year with a 46.88% increase [1]. Group 1: Company Performance - Leap Motor delivered 60,423 vehicles in December 2025, a year-on-year increase of 42.11%, and achieved a total of 596,555 vehicles for the year, marking a 103.1% increase [2][3]. - NIO's December deliveries reached 48,135 vehicles, a record high for the month with a 54.59% year-on-year increase, and a total of 326,028 vehicles for the year, reflecting a 46.88% growth [5]. - Li Auto delivered 44,246 vehicles in December, with a total of 406,343 vehicles for the year, representing an 18.81% decline year-on-year, but it became the first new force brand to surpass 1.54 million cumulative deliveries [7]. - Xpeng Motors achieved total deliveries of 429,445 vehicles in 2025, a 125.94% increase, although December deliveries were 37,508, falling short of the fourth-quarter guidance [9]. Group 2: Strategic Developments - Leap Motor plans to target one million deliveries in 2026, with new models from the A and D series set to launch [3]. - NIO's ES8 model became a key contributor to sales, with a significant number of orders expected to offset potential performance dips in early 2026 [5]. - Li Auto is facing challenges in its pure electric transition, with supply chain issues affecting production capacity, but it is expanding into overseas markets to alleviate domestic competition [7]. - Xpeng Motors is set to launch seven new models with advanced configurations in 2026, aiming to significantly expand its market reach [9]. Group 3: Market Insights - The absence of a year-end surge in the automotive market was confirmed by industry analysts, and new government policies aimed at stimulating consumption are expected to stabilize the market in 2026 [11][12].

7月10日，全新C11上市，该车型自2021年初次上市后已热销至今；7月24日，年轻人的高颜值智能轿车零跑B01正 式上市；9月8日，零跑全新个性化战略新品Lafa5在慕尼黑车展全球首秀，3款车型也相继亮相。8月18日，零跑发 布2025年上半年财报，首次实现半年度净利润转正；9月25日，迎来第100万辆整车下线的历史性时刻。 2025年，零跑保持强劲增长态势，全年累计交付达596555台，同比增长103%，展现出品牌实力与市场竞争力。刚 刚过去的12月，零跑全系交付达60423台，同比增长42%。 3月3日，零跑汽车与中国一汽正式达成战略合作，发挥各自在研发领域的技术积累，共同提升产品竞争力，使双 方实现全产业链资源协同；3月10日，在杭州小莲花举办了零跑LEAP 3.5技术暨B10预售发布会，向公众展示了在 智能座舱、辅助驾驶及三电领域的最新成果。 4月10日，零跑B系列第一款车型、全球智趣长续航SUV零跑B10正式上市；4月23日，零跑B01于上海国际车展迎 来全球首秀，其独特的设计语言引发全球媒体关注；6月11日，零跑正式登陆香港市场，全球第1500家门店开业， 渠道布局迈出关键一步。 回顾2025， ...

Core Viewpoint - Hangzhou is undergoing a transformation from a digital economy hub to a new manufacturing era, focusing on artificial intelligence and smart connected vehicles, with Leap Motor exemplifying this shift through its commitment to self-research and vertical integration [1][3][6]. Group 1: Industry Transformation - Hangzhou's transition is marked by a shift from an application-based ecosystem to a focus on foundational technology and innovation [4][5]. - The city aims to master the entire value chain from core chip computing power to terminal applications, indicating a move from rapid business model replication to tackling core technologies [6][10]. - Leap Motor's approach aligns with Hangzhou's strategy, emphasizing deep engagement in the foundational layers of electric vehicles, such as electronic architecture and battery technology [8][10]. Group 2: Leap Motor's Business Model - Leap Motor has restructured the traditional automotive business model by eliminating intermediaries and focusing on cost and value [18]. - The company achieves a 65% self-research and manufacturing ratio for core components, allowing it to maintain a healthy gross margin of 14% to 15% while passing cost advantages to consumers [10][18]. - The company's sales have seen significant growth, with cumulative sales surpassing 250,000 units, demonstrating the effectiveness of its self-research and cost pricing model [19]. Group 3: Engineering Culture and R&D - Leap Motor's engineering culture supports its self-research strategy, with a research team exceeding 6,000 members and substantial investments in R&D [22]. - The company has achieved rapid production scaling, reducing the time to produce its 100,000th vehicle to just 343 days, showcasing its operational efficiency [22][24]. - Leap Motor's commitment to R&D is reflected in its plans to increase investment to 4 to 5 billion yuan in the coming years [22]. Group 4: Global Expansion - Leap Motor is pursuing a global strategy through a partnership with Stellantis, which involves a 1.5 billion euro investment for a 20% stake, facilitating access to global markets [26]. - The company has established over 800 sales and service points across approximately 35 international markets, indicating a robust global presence [28]. - Leap Motor's European manufacturing base in Spain is set to begin production in 2026, marking a shift from a trade-based to an ecosystem-based global strategy [28]. Group 5: Entrepreneurial Spirit and Future Outlook - Leap Motor's founder, Zhu Jiangming, embodies the spirit of scientific entrepreneurship, recognized for his contributions to technology and innovation [12][14]. - The company aims to become a respected global automotive brand, reflecting Hangzhou's ambition in the new manufacturing era [16][29]. - Leap Motor's journey serves as a model for how to navigate complexity and achieve future success through a focus on core values and technological foundations [31].

Core Insights - Hangzhou is undergoing a transformation from a digital economy hub to a new manufacturing era, focusing on artificial intelligence and smart connected vehicles [1][3] - Leap Motor's development trajectory aligns with Hangzhou's industrial transformation, emphasizing self-research and vertical integration in manufacturing [3][6] Industry Transformation - Hangzhou's shift represents an evolution from application-based innovation to foundational restructuring in advanced manufacturing [4] - The city aims to control the entire value chain from core chip computing power to terminal applications, moving beyond rapid business model replication [4] Leap Motor's Strategy - Leap Motor has adopted a self-research approach since its inception, prioritizing core technologies such as battery and electric drive systems [6][8] - The company has achieved a 65% self-manufactured core component ratio in its vehicle BOM costs, leading to a 10% cost advantage over competitors [8][14] Recognition and Leadership - Leap Motor's founder, Zhu Jiangming, has been recognized as a "scientific entrepreneur," reflecting the city's shift towards valuing science and technology [9][11] - The company has received significant government investment, totaling over 9 billion yuan, highlighting the supportive role of local authorities in its growth [13] Financial Performance - Leap Motor's business model focuses on cost transparency and value redefinition, maintaining a healthy gross margin of 14%-15% while passing savings to consumers [14] - The company has seen rapid growth, achieving over 250,000 cumulative vehicle sales and aiming for 1 million by 2026 [15][17] Global Expansion - Leap Motor has formed a strategic partnership with Stellantis, securing a 15 billion euro investment for a 20% stake, facilitating global market access [18][20] - The establishment of over 800 sales and service points across 35 international markets demonstrates Leap Motor's extensive channel development [20] Cultural and Philosophical Underpinnings - The company's approach reflects Hangzhou's pragmatic and daring spirit, focusing on core technology and user needs [21][23] - Leap Motor's journey serves as a model for industrial transformation, showcasing a rational path towards future competitiveness [23]

乘用车近期终端需求跟踪及展望 20251229 摘要 2026 年汽车补贴政策预计总额维持 3,000 亿，汽车补贴约 1,000 亿， 以旧换新或要求旧车持有一年以上，以抑制套取补贴行为。预计新能源 车置换补贴 8%，燃油车 6%；新能源车报废补贴 12%，燃油车 10%（2025 年）。 预计 2025 年以旧换新更新量约 750 万台，补贴预算超 800 亿；2024 年约 370 万台，对应 350 亿。2025 年主要为置换补贴，2024 年为报 废补贴。单车平均补贴 2025 年约 11,500 元，2026 年预计持平。 消费者对以旧换新政策有较高预期，补贴金额约占乘用车平均成交价 10 万元的 7%。10 月下旬至 12 月期间，约 2/3 未成交用户等待 2026 年 新政策和更高额度国家支持。 2025 年政策下，20 万元以内汽车可享国家开票价近 8%补贴，影响消 费者购买决策，约 2/3 潜在客户明确表示等待 2026 年补贴更新，尤其 是置换补贴。 预计 2026 年 Q1 新能源汽车市场需求显著增长，新补贴政策或提前落 地，车企和渠道将促销清理库存，预计 1 月销量双位数增长，Q1 ...

Core Viewpoint - The article highlights the significant growth and transformation of the Chinese electric vehicle (EV) industry over the past decade, focusing on the rise of new car manufacturers like Leap Motor, which has achieved remarkable sales and innovation milestones. Group 1: Industry Transformation - The Chinese EV market has evolved dramatically, with sales increasing from 331,000 units in 2015 to an estimated 16.4 million units in 2025, achieving a penetration rate of over 50% [1] - New car manufacturers have played a crucial role in this transition, with many brands emerging and some being eliminated as the market matures [1] - Leap Motor has emerged as a leader with nearly 600,000 annual deliveries, positioning itself among the top EV brands in China [4] Group 2: Leap Motor's Unique Approach - Leap Motor distinguishes itself through a "reverse internet celebrity" model, focusing on self-research and manufacturing of core components, achieving a self-research ratio of 65% in vehicle costs [2][12] - The company has seen rapid growth, increasing deliveries from 43,000 units in 2021 to nearly 600,000 units in 2023, with about 10% of sales coming from overseas markets [4] - Leap Motor's founder, Zhu Jiangming, emphasizes a product philosophy of "good but not expensive," aiming to provide high-quality vehicles at competitive prices [6][8] Group 3: Financial and Operational Strategy - Leap Motor's financial strategy is characterized by cautious investment, with fixed asset investments only reaching 7.17 billion yuan by mid-2023, significantly lower than traditional automakers [12] - The company has established a strong supply chain and manufacturing system, achieving over 70,000 vehicle deliveries in October and November 2023 alone [14] - Leap Motor's collaboration with Stellantis and China FAW has opened international markets, with over 800 sales and service points established globally [20] Group 4: Future Goals and Innovations - Leap Motor aims to achieve an annual sales target of 1 million vehicles by 2026, with long-term goals of reaching 4 million vehicles annually [24][26] - The company plans to diversify its product lineup with four major series (A, B, C, D) targeting various market segments, leveraging its self-research capabilities to reduce costs [26] - Increased R&D investment is expected to drive innovation, with 3.104 billion yuan allocated in the first three quarters of 2023 alone [28]

Core Insights - Leap Motor, celebrating its 10th anniversary, reported significant achievements for 2025, including nearly 600,000 annual sales and expansion into 35 overseas markets with over 800 stores [1] - The company's growth trajectory aligns with China's strategic transformation periods, showcasing a successful example of "bending the curve" in manufacturing [1] - Leap Motor's commitment to core technology independence has been evident since its inception, focusing on self-developed components to differentiate itself from competitors [2][3] Company Development - Leap Motor launched its first model, the S01, in 2017, which, despite low sales, served as a testing ground for its self-research capabilities [2] - The company transitioned to the high-value micro electric vehicle market with the T03 in 2020, achieving rapid sales growth and funding further research [3] - Leap Motor has built a robust engineering team of 6,000, with over 80% in R&D, achieving over 65% self-manufacturing of core vehicle components [3] Technological Advancements - Leap Motor has developed key technologies such as the "Lingxin 01" automotive-grade intelligent driving chip and an integrated battery chassis system, breaking foreign technology monopolies [3][4] - The company has achieved an 88% commonality rate in parts across its C series SUVs, significantly reducing R&D and manufacturing costs [3] - Advanced features previously exclusive to luxury vehicles are now standard in Leap Motor's models, promoting wider adoption of smart electric vehicles [4] Market Positioning - Leap Motor has strategically targeted the mainstream market (priced between 100,000 to 200,000 yuan), emphasizing cost-effectiveness over brand premium [6] - The company has achieved over 600,000 annual sales and 60,000 overseas deliveries by 2025, leading among new energy vehicle brands [6][8] - Leap Motor's unique approach of focusing on engineering capabilities rather than market trends has allowed it to navigate industry challenges successfully [6][7] Global Expansion - Leap Motor's global strategy includes partnerships with Stellantis to enhance its international presence, with over 800 overseas channels established [9][10] - The company showcased its models at international auto shows, gaining attention and interest from global automotive leaders [8][9] - Leap Motor plans to expand into South America, establishing a network of dealerships and local partnerships to facilitate market entry [10] Strategic Vision - Leap Motor's journey reflects the broader evolution of China's electric vehicle industry, emphasizing the importance of technological independence and long-term commitment [11][12] - The company maintains a cautious approach to its achievements, recognizing the need for continuous improvement to reach global competitiveness [12] - Leap Motor's story is a testament to the potential of Chinese manufacturing to excel on the global stage through innovation and strategic alignment with national goals [12]

Core Viewpoint - The article highlights the significant achievements of Leap Motor in its ten years of operation, emphasizing its ambitious goal of reaching annual sales of one million vehicles by 2026 and the importance of continuous innovation, quality, and global market expansion [6][9][13]. Group 1: Leap Motor's Achievements - Leap Motor celebrated its tenth anniversary, achieving nearly 600,000 vehicle sales in the past year and is expected to achieve annual profitability [6][8]. - The company has successfully implemented core technologies such as LEAP3.5 central domain control and 800V high-voltage platform, demonstrating its capability for rapid mass production [6][8]. - Leap Motor's B10, B01, Lafa5, and updated models C16, C11, and C10 have seen significant sales success, with the C10 reaching a monthly sales peak of 20,000 units [6][8]. Group 2: Global Expansion - Leap Motor has accelerated its global expansion, entering 35 overseas markets and establishing over 800 overseas stores, with annual overseas deliveries expected to exceed 60,000 units [7][8]. - The collaboration with Stellantis Group is yielding synergistic effects, positioning Leap Motor as a competitive player in the global market [7][8]. Group 3: Future Goals and Strategies - The company aims to enhance its capabilities in technology innovation, product quality, overseas market expansion, and organizational efficiency to meet its sales target of one million vehicles by 2026 [9][10]. - Leap Motor emphasizes the need for continuous innovation and maintaining high product quality to become a benchmark in the industry [9][10]. - The company recognizes the importance of adapting to global markets and enhancing user experience to build a strong reputation [9][10].

Core Viewpoint - The Xuanyuan Award, now in its 13th year, continues to uphold its commitment to independence from commercial interests, power, and relationships, aiming to identify truly outstanding vehicles in the Chinese automotive market [5][9]. Group 1: Award Overview - The 13th Xuanyuan Award was officially launched on October 15, 2025, after 13 years of refinement and navigating market fluctuations [4]. - The award emphasizes rigorous testing and independent judgment, focusing on genuine consumer needs rather than superficial marketing [7]. Group 2: Award Nominees - On December 20, 2025, alongside the selection of the "Top Ten Cars of the Year," the award also recognized 14 nominated vehicles representing innovation in the Chinese automotive industry [8]. - The nominated vehicles include: iCAR Super V23, Fengyun A9L, Lynk & Co 900, Geely Galaxy Star 8, Avita 07 Extended Range, Changan Qiyuan A06, Ledao L90, Lantu FREE+, Zongheng G700, Arcfox T1, Leapmotor B10, GAC Haobo HL, BJ30 Traveler, and Tank 500 [11].