China Automobiles 11 July 2025 | 9:25AM CST 2H25 outlook mgmt call series: Expect continued subsidies and ongoing competition We hosted our China Autos 2H25 Management Outlook Call Series with 6 companies including OEMs (BYD, XPeng, Nio, Leapmotor), suppliers (Hesai) and dealers (Zhongsheng) during Jul 8-9. Key takeaways include: (1) Demand & stimulus: Managements generally believe government support will not terminate abruptly and effective per vehicle purchase cost will not increase from the consumer's pe ...