Core Viewpoint - Chinese automotive brands are redefining market standards by offering high configurations at competitive prices, challenging traditional pricing and technology barriers in the automotive industry [2][3][4]. Group 1: Product Logic Innovation - Chinese brands are adopting a new product logic where base configurations are equivalent to high configurations, making advanced features standard in entry-level models [3][4]. - For example, the 2025 IM L6 starts at 204,900 yuan, including features like an 800V high-voltage platform and Huawei ADS 3.0 driving system, which would typically cost an additional 200,000 yuan in traditional luxury brands [3]. - The coverage of intelligent configurations in Chinese brands is 2.3 times that of joint venture brands, enhancing user experience and pushing competitors to accelerate technological upgrades [3][5]. Group 2: Value Standard Reconstruction - The traditional vehicle classification system is being disrupted, with models like Chery Fengyun A9L offering C-class space standards at a 200,000 yuan price point, equipped with high-end technologies [4][5]. - The Aito M9, priced at 469,800 yuan, surpasses the value standards of luxury brands like the Mercedes-Benz GLS, showcasing a shift in high-end vehicle pricing and features [4][6]. Group 3: Cost Control and Pricing Strategy - Chinese brands achieve competitive pricing through cost control strategies, including supply chain integration and independent software development, resulting in a 30% reduction in battery costs [6][7]. - The implementation of transparent pricing strategies, such as nationwide uniform pricing, enhances competitiveness by returning consumer power to users [7][8]. - The transformation in pricing strategies is leading to a redefinition of market dynamics, as evidenced by a 7.3% year-on-year increase in China's automotive exports in Q1 2025 [7][8]. Group 4: Future Outlook - The ongoing transformation in the automotive industry is expected to continue, with Chinese brands needing to focus on technological innovation and global expansion to maintain their competitive edge [8]. - The ultimate goal for the Chinese automotive industry is to redefine global automotive value standards, transitioning from a "big automotive country" to a "strong automotive country" in the era of smart electric vehicles [8].

Core Insights - The 2025 IM L6 has officially started pre-sales in Shanghai, with a price range of 219,900 to 289,900 yuan, but lacks versions with solid-state batteries, indicating a repositioning due to poor market performance [1][2] - IM's sales have not met expectations since its establishment in late 2020, with projected sales of 38,000 units in 2023 and 65,000 units in 2024, significantly lagging behind leading brands [1] - The L6 model, initially branded as a "hot product," has seen monthly sales drop to around 1,000 units this year, reflecting challenges in a highly competitive market [1][2] Product Positioning - The 2025 IM L6 has been repositioned as a "urban fashion high-end customized product," targeting urban white-collar workers, and has removed solid-state battery options [2] - New technologies introduced include the upgraded Lingxi digital chassis 2.0, AI Agent IMOS 4.0, and Momenta-enabled IM AD3.0 intelligent driving assistance, along with comfort features like the "instant control sunshade canopy" and "bagel pressure-relief seats" [2][3] Market Competition - The 20-30 million yuan price segment is highly competitive, with rivals like Tesla Model 3, Xiaomi SU7, and Zeekr 007 offering clearer differentiation in their product offerings [2] - IM's previous branding focused on vehicle handling, but the current product does not align with this image, posing a challenge for the company to unify its product labels and brand identity [3]