据悉，茨维考与埃姆登两家工厂均为大众汽车专门生产电动汽车的工厂。其中，茨维考工厂主要负责生 产ID.3、ID.4以及奥迪Q4 e-tron等车型；埃姆登工厂则以生产ID.7车型为主，同时也承担部分ID.4车型 的生产任务。此次停产计划将对上述ID系列车型的交付产生影响，不过奥迪Q4 e-tron车型的生产不会受 本次停产波及，将照常推进。 【环球网科技综合报道】9月27日消息，据路透社报道，大众汽车集团发言人证实，其位于德国的茨维 考工厂将于10月8日起暂时停产一周。与此同时，有知情人士透露，大众已对德国埃姆登工厂下达削减 工时计划，预计未来该工厂也将停产数日。 来源：环球网 为应对当前发展困境，避免工厂大规模关闭，大众汽车此前已制定规划，计划在2030年前于德国市场裁 员3.5万人。值得注意的是，茨维考工厂与埃姆登工厂因签订有保护就业相关协议，此次裁员计划不会 对这两家工厂的员工岗位造成影响。（纯钧） 作为欧洲电动汽车市场的重要参与者，大众汽车今年上半年表现亮眼，在欧盟区电动汽车销量超越特斯 拉，成为该区域最大的电动汽车品牌。但在市场销量增长的背后，大众汽车内部也面临着产能过剩、市 场需求放缓等挑战。 ...

Core Viewpoint - The European automotive market is experiencing a recovery driven by policy support, expanding demand, and technological advancements, particularly in electric and hybrid vehicles [1][2]. Market Overview - In July, the European new car market (EU + EFTA + UK) saw a year-on-year growth of 5.9% to 1.0854 million units, marking the largest increase since April 2024, primarily due to the popularity of electric and hybrid vehicles [3][4]. - Despite the growth in July, the cumulative new car registrations in Europe as of July still showed a slight year-on-year decrease of 0.04% [4]. Electric and Hybrid Vehicle Trends - Plug-in hybrid vehicles (PHEVs) have emerged as the dominant force in reshaping the market, with sales in July increasing by 52% year-on-year [5]. - In Spain, new car registrations surged by 17.1% in July, supported by the "Moves III plan," which allocates €400 million for electric vehicle purchases and charging infrastructure [5][6]. Regional Insights - In Northern Europe, the share of pure electric vehicles exceeds 80%, with Norway's electric vehicle registration in July growing by 56.6% to 9,291 units, achieving a 97.2% market share [6]. - Overall, from the beginning of the year to July, the sales of pure electric vehicles in Europe increased by 25.9% to 1,376,720 units, with a market share growth of 17.4% compared to the previous year [7]. Manufacturer Performance - In July, BYD's new car registrations surged by 225.3%, while Volkswagen Group's registrations grew by 11.6%, maintaining its leading position in the European market [10][11]. - The ID series from Volkswagen has been particularly successful, with the ID.7 achieving a monthly sales record of 2,402 units in Germany, tripling year-on-year [8][10]. Future Developments - BYD plans to introduce two new hybrid models in Germany this year to cater to diverse consumer needs [13]. - The introduction of low-cost electric vehicles is becoming a key battleground for automakers in Europe, with several new models priced below €25,000 expected to launch [14]. Battery Technology and Supply Chain - The export volume of lithium iron phosphate (LFP) batteries from China reached 39.4 GWh in the first seven months, a year-on-year increase of 42% [19]. - Major Chinese battery manufacturers are increasingly partnering with European automakers, with companies like Gotion High-Tech and Guoxuan High-Tech supplying LFP batteries to brands like Mercedes and Volkswagen [20][21]. Conclusion - The European automotive market is undergoing significant transformation, with electric and hybrid vehicles leading the charge, supported by favorable policies and technological advancements, while Chinese manufacturers are making substantial inroads into the market through strategic partnerships and innovative products [1][2][4].

Industry Rating - The industry investment rating is "Outperform the Market" [1][1] Core Insights - The European new energy vehicle market is reaching a turning point driven by stringent carbon emission assessments and the cyclical nature of vehicle models [2] - The EU's policies, including the ban on fuel vehicles and tiered carbon reduction targets, are creating rigid constraints that push for electrification [2][8] - Major automakers are accelerating their electric vehicle (EV) strategies to meet upcoming carbon targets, with significant growth in battery electric vehicle (BEV) sales [3][19] Policy and Market Dynamics - The EU's tightening carbon reduction policies are compelling automakers to expedite their transition to new energy vehicles [7] - The EU has set ambitious carbon emission targets, including a ban on new fuel vehicles by 2035 and specific CO2 emission limits for new cars starting in 2025 [8][11] - The introduction of the ZLEV coefficient incentivizes manufacturers to increase the share of zero and low-emission vehicles in their fleets [15] Automaker Performance - Volkswagen delivered 465,500 BEVs globally in the first half of 2025, with a significant contribution from Europe, achieving a year-on-year growth of 89% [3][32] - Stellantis has improved its market share in Europe, ranking first in the hybrid market and second in the BEV market, supported by a multi-platform strategy [3][33] - Renault's BEV sales in Europe increased by 88% in Q1 2025, with a focus on affordable models and a strong platform strategy [3][42] Supply Chain and Component Manufacturers - Companies like Minth and Weimars are benefiting from the growth in the new energy vehicle supply chain, with significant revenue increases projected [4][49] - Minth's battery box business is expected to generate 5.338 billion yuan in revenue in 2024, reflecting a 50.96% year-on-year growth [4][48] - Weimars is positioned as a leading supplier in the domestic market, with a market share of 29.41% in the third-party vehicle charging market [4][52] Future Outlook - The report anticipates continued growth in the European new energy vehicle market, driven by regulatory pressures and technological advancements [2][19] - The performance of key players in the supply chain is expected to improve as the demand for new energy vehicles rises [4][59]

Group 1: Tesla's Performance in Europe - Tesla's new car registrations in Germany decreased by 36.2% year-on-year in May, totaling 1,210 vehicles [1] - Tesla's sales in France dropped over 67% and in Spain by 29% in the same month [1] - In Sweden, Tesla's overall sales fell by 53%, while Volkswagen's ID.7 electric vehicle sales were nearly double that of Tesla's new Model Y [1] Group 2: BYD's Growth in Europe - BYD's sales in Germany surged by 824% in May, with 1,857 pure electric and plug-in hybrid vehicles sold [2] - BYD's performance in Europe has been strong, with sales in April surpassing Tesla for the first time [2] - Despite a 17% tariff imposed by the EU in 2024, BYD continues to expand its presence in the European market [2] Group 3: Market Context - The overall electric vehicle market in Germany grew nearly 45% year-on-year in May [2] - Tesla's CEO Elon Musk acknowledged that the European market presents significant challenges, citing weak demand [1]

Core Viewpoint - Tesla faces significant challenges in the European electric vehicle market, with a sharp decline in sales and increasing competition from local brands [1][3]. Group 1: Sales Performance - In the first two months of 2025, Tesla's electric vehicle sales in Europe plummeted by 45% year-on-year, selling only 25,852 units [3]. - The Model Y, despite being the best-selling model, saw a drastic sales drop of 53%, with only 14,773 units sold [2][3]. - The Model 3 experienced a 26% decline in sales, ranking sixth, while the high-end models, Model S and Model X, sold a mere 272 units combined [3]. - In contrast, traditional European automakers like Volkswagen and Renault saw significant growth, with Volkswagen's electric vehicle sales increasing by 182% in the same period [3]. Group 2: Strategic Adjustments - Tesla CEO Elon Musk indicated a strategic shift during an internal meeting, announcing plans to trial production of 5,000 humanoid robots (Optimus) in 2025, aiming for a production capacity of 50,000 units by 2026 [5]. - Musk emphasized that the cost per unit could be reduced to $20,000-$30,000, which is lower than the base price of the Model 3 [5]. - He urged employees not to sell their stocks, highlighting the long-term value of the company despite current market fluctuations [5]. Group 3: Analyst Outlook - Morgan Stanley and UBS have recently downgraded their ratings for Tesla, warning that the company's first-quarter delivery volume may fall to between 355,000 and 367,000 units, representing a potential year-on-year decline of up to 26% [6]. - Analysts cited "demand weakness, intensified competition, and the fading of policy incentives" as key pressures on Tesla [6]. - The consensus forecast for Tesla's Q1 delivery volume is 421,000 units, which is 13% higher than institutional predictions, indicating a risk of significant downward adjustments [6].