转自：中国质量报 传统车企方面，比亚迪依旧是销冠，其和上汽集团在上半年销量均超过200万辆。具体来看，比亚迪6月 新能源车销量为38.26万辆，去年同期为34.17万辆。上半年，比亚迪累计销量为214.6万辆，去年累计为 161.3万辆，同比增加33.04%。上汽集团在今年呈现出稳步回升的趋势。6月份销售整车36.5万辆，同比 增长21.6%，今年以来单月销量实现同比"六连涨"。上半年，上汽集团整车批售205.3万辆，同比增长 12.4%。 海外销量也是车企销售总量的重要支撑。但增速方面，除了近期扩张势头较足的比亚迪，其他车企均有 所放缓。数据显示，比亚迪上半年出口汽车47万辆，同比增长229.8%。长安集团上半年海外销量突破 30万辆，同比增长49%。上汽集团海外实现销售49.4万辆，同比增长1.3%。海外市场依旧贡献了奇瑞集 团销量的近半壁江山。今年上半年奇瑞汽车出海销量达55.03万辆，同比增长3.3%。吉利汽车和长城汽 车海外销量同比下降。 新势力队伍中，头部三强变化明显，从去年同期的"理想、赛力斯汽车（问界）、蔚来"演变为"零跑、 理想、小鹏"。 □ 本报记者 岳 倩 零跑是该队伍中最大的"黑马"， ...

日前，一辆特斯拉新车自己通过FSD（完全自动驾驶），找到车主完成交付；中国的无人驾驶汽车则在 中东的道路上行驶；在中国多个一线城市，无人配送车正在大街小巷穿梭……自动驾驶正在进入人们的 生活，自动驾驶赛道万亿级市场开启。 一位业内专家对上海证券报记者表示，2025年上半年，自动驾驶商业化迎来关键拐点——从"技术验 证"加速转向"场景落地"。L2级自动驾驶渗透率不断提升，L3级自动驾驶产品逐步落地。美国银行最新 报告称，到2040年，自动驾驶汽车市场总规模可能增长至1.2万亿美元。 从"高端配置"到"全民智驾" 根据工业和信息化部消息，近日，由我国牵头制定的国际标准《道路车辆自动驾驶系统测试场景场景评 价与测试用例生成》正式发布。在业内人士看来，这既体现了自动驾驶测试验证技术在全球范围内达成 的重要共识，也是我国自动驾驶产业蓬勃发展的一个缩影。 目前，比亚迪、长安汽车、吉利汽车、奇瑞汽车和广汽集团等主流车企密集推进智能驾驶战略。数据显 示，小鹏6月XNGP智能辅助驾驶系统城区月活用户渗透率达85%。5月，比亚迪智驾车型销量达23.1万 辆。截至5月底，比亚迪所有搭载比亚迪天神之眼和华为乾崑智驾的车型累计销售超7 ...

凤凰网科技讯 北京时间7月7日，据《华尔街日报》报道，随着埃隆·马斯克(Elon Musk)在美国面临日益 严峻的商业和政治挑战，他在另一个最重要市场中国也遭遇了麻烦。 随着中国本土汽车制造商越来越受欢迎，特斯拉在华市场份额萎缩。中国消费者认为，特斯拉的车型越 来越乏味，与当地消费者的品味脱节。如今，中国设计的顶级电动汽车常常配备一些特斯拉不具备的功 能，比如多块可以观影和打游戏的大屏幕，可以冰镇饮料的车载冰箱以及可用于自拍的车内摄像头。 中国电池公司也取得了新的技术突破。比亚迪（002594）和宁德时代（300750）最近表示，他们已开发 出五分钟快速充电技术。 目前，许多中国消费者依然把特斯拉视为电动汽车先锋。中国也将特斯拉视为外资投资成功的典范，以 及推动中国绿色经济建设的有力伙伴。绿色经济聚焦可再生能源、电动汽车和电池等产业。 麻烦的是，特斯拉的全自动驾驶系统(FSD，中国官网称智能辅助驾驶系统)仍未获得中国监管部门的全 面批准。这项技术是特斯拉未来主导交通领域雄心的核心功能，同时也是中国企业竞相攻克的领域。 特斯拉反应迟缓 特斯拉中国员工表示，他们曾向总部表达过对公司车型日益老化的担忧，但他们的警告 ...

近日，美银证券发布长达81页的深度研究报告，"欢迎来到1.2万亿美元的市场"，预计自动驾驶（AV）市场到 2040 年潜在规 模达 1.2 万亿美元，涵盖汽车、卡车、物流、农业、矿业等多个领域。 美银指出，目前商业 AV 部署已开始规模化，全球已有 7 个城市可乘坐商业 robotaxi，另有 20 个城市即将上线。该报告覆盖 了市值合计约 10 万亿美元的相关公司，各公司在自动驾驶技术研发、应用场景拓展及市场份额争夺上各有布局，部分公司预 计到 2030 年相关业务将贡献显著营收占比。需要更多参考资料请私信留言。 | （备注：评级"BUY"为买入，"NEUTRAL"为中性，"OP"为目标价）。 | | --- | | 二、思维导图 | 三、整体机会及细分领域情况 市场规模：预计到 2040 年达1.2 万亿美元，涵盖汽车（7000 亿美元）、卡车、物流、农业、矿业、公共交通等领域，2024 年 市场规模为 1370 亿美元，期间复合增长率显著。 商业化进展：目前全球已有 7 个城市可提供商业 robotaxi 服务，另有 20 个城市即将部署；自动驾驶技术正从乘用车向卡车、 农业机械、矿业设备等多领域拓展， ...

为了在转型过程中更为顺利，欧洲企业开始选择携手。从公开信息来看，此次合作阵容堪称欧洲工 业"全明星"，包括三大豪华车厂（大众、宝马、奔驰）、四大顶级供应商（博世、大陆、采埃孚、法雷 奥），以及ETAS、Qorix、Vector等专业软件企业。在德国汽车工业协会协调下，它们将合力打造开源 软件平台，由中立的Eclipse基金会管理。 据了解，此次合作采用"代码优先"策略，企业间可直接共享可执行软件模块而非技术文档，大幅提升开 发效率。梅赛德斯-奔驰首席软件官Magnus stberg强调："作为开放生态系统的共同创建者，我们正通过 此战略推动汽车软件的未来。" 汽车分析师王坤对《华夏时报》记者表示，这种平台式设计是欧洲车企常用的方法，通过基础层开源共 享能够确保品牌独立性，而差异化层模块定制，则可以通过信息娱乐、辅助驾驶等功能实现品牌个性。 这种"标准化核心+个性化外衣"的模式，既解决共性问题，又保留品牌灵魂。 近日，大众集团、宝马集团、梅赛德斯-奔驰三大德系巨头携手博世、大陆、采埃孚等11家汽车及科技 企业，签署谅解备忘录，宣布共同开发开源汽车软件平台。这场被业界称为"欧洲汽车科技反击战"的合 作，剑指一个明 ...

高品牌溢价的可能： 极致的智能化体验可以塑造强大的品牌溢价。如果用户公认小鹏的智驾是最好的，那么 它的车就可以卖得更贵，从而获得更高的单车利润。 技术授权的B2B收入： 与大众的合作，开创了向传统巨头输出技术平台和软件的全新商业模式。这部分技术 服务费的毛利率极高，是对其巨额研发投入的直接变现，是其未来利润的重要组成部分。 "赚得更久"的逻辑： 终极的技术护城河： 如果小鹏能在高阶自动驾驶的终局竞争中胜出，它将拥有无人能及的代际优势。届时， 它的技术将成为行业的"标准"，拥有最强的议价权和最持久的生命力。 "赚得更多"的逻辑： 未来的利润（软件利润）： 小鹏不惜血本地投入智能驾驶（XNGP），其终极目标是像苹果或特斯拉一样， 通过高毛利率的软件（如智驾功能订阅或付费）来赚钱。一旦成功，其利润空间将远超单纯的"卖车硬件"。 小鹏汽车：技术为矛，想象空间更大 小鹏的商业模式核心是"智能化技术的长线投资"，它赌的是未来汽车的终极形态——一个由软件定义的智能 终端。 强大的生态构建能力： 围绕着智能化的核心，小鹏可以构建从车到机器人、再到飞行汽车的完整智能生态， 其商业边界和长期价值无可限量。 一句话总结小鹏：走的是 ...

Core Viewpoint - Xiaopeng Motors reported a significant year-on-year increase in vehicle deliveries, indicating strong demand and successful product launches, despite a slight month-on-month decline in May 2025 [1][2] Group 1: Delivery Performance - In May 2025, Xiaopeng Motors delivered 33,525 vehicles, representing a 230% year-on-year increase but a 4.3% decrease month-on-month [1] - The Xiaopeng P7+ has achieved over 55,000 cumulative deliveries within six months of its launch, while the Xiaopeng X9 delivered 3,327 units in May [1] - The launch of the Mona M03, with a price range of 119,800 to 139,800 yuan, saw over 12,000 pre-orders within the first hour, with 83% of orders for the Max version [1] Group 2: AI and Global Expansion - The monthly active user penetration rate for the XNGP urban AI driving assistance reached 85% in May [1] - The Mona M03 Max features a "human-machine co-driving" function, enhancing user experience by adapting to driver habits [1] - Xiaopeng Motors has expanded into the Italian and Polish markets, becoming one of the first Chinese new energy vehicle companies to participate in the Milan Design Week, and has established a presence in over ten European countries [1] Group 3: Infrastructure Development - As of March 31, 2025, Xiaopeng Motors operated 690 sales outlets across 223 cities and had 2,115 self-operated charging stations [2] - From May 5 to May 18, 2025, the company added 21 self-operated charging stations, including 13 S4 super-fast charging stations and 8 destination stations [2] Group 4: Financial Projections - Xiaopeng Motors is projected to achieve vehicle sales of 524,000, 786,000, and 966,000 units from 2025 to 2027, with corresponding total revenues of 97.76 billion, 158.1 billion, and 197.07 billion yuan [2] - The expected net profits for the parent company are forecasted to be 1.2 billion, 6 billion, and 9.42 billion yuan for the same period [2]

Core Viewpoint - The development of intelligent driving (smart driving) in the automotive industry is entering a critical turning point in 2025, shifting from aggressive marketing and promises of full automation to a more rational and realistic approach due to new regulations from the Ministry of Industry and Information Technology [1][2]. Industry Transition - The automotive industry is witnessing a transformation where companies are adjusting their marketing strategies to emphasize the "assistance" nature of smart driving rather than overpromising full automation capabilities [2][4]. - Traditional automakers like Volkswagen and Toyota have maintained a more cautious approach, focusing on safety and reliability rather than aggressive claims, which is now proving advantageous as the market stabilizes [4]. Consumer Perception - Consumer attitudes towards smart driving are divided; while there is some excitement, many remain cautious due to concerns about the maturity of the technology and its safety [12][14]. - A significant portion of consumers still view smart driving features as secondary to other factors such as price, brand reputation, and overall vehicle performance [9][11]. Marketing Adjustments - Sales representatives at recent auto shows have adopted a more restrained and factual approach when discussing smart driving features, moving away from exaggerated claims to clarify the limitations and necessary conditions for use [7][8]. - The shift in marketing strategy reflects a broader industry trend towards establishing a more realistic understanding of smart driving capabilities among consumers [8][14]. Safety Concerns - Despite the advancements in smart driving technology, many consumers express ongoing concerns about safety, often preferring to maintain manual control in complex driving situations [12][14]. - The industry is recognizing the need for patience and rationality from all stakeholders—manufacturers, regulators, and consumers—as smart driving evolves from a novel concept to a reliable aspect of safe transportation [14].

Group 1 - The core viewpoint of the article emphasizes the Chinese government's initiative to combat "involution" in the automotive industry, focusing on fair competition and market order maintenance [1][3] - The Ministry of Industry and Information Technology (MIIT) has highlighted that the automotive industry's sales profit margin has dropped to 4.3%, which is 1.7 percentage points lower than the industrial average [3] - The MIIT is accelerating the legislation of the "Motor Vehicle Production Access Management Regulations" to enforce a mandatory exit mechanism for "zombie enterprises" [3] Group 2 - The article discusses the strategic priority given to technological upgrades, with five key areas identified for innovation: key materials for power batteries, automotive-grade chips, autonomous driving models, fuel cells, and hybrid systems [6] - Companies like BYD and Xiaomi are significantly increasing their R&D investments, with BYD's R&D spending rising by 42% year-on-year in Q1 2025 [6][8] - The National Development and Reform Commission (NDRC) has initiated the "Sky Net Action" to monitor automotive market prices and prevent abnormal price reductions [6] Group 3 - The China Automotive Industry Association has released a "Fair Competition Initiative," prohibiting practices such as below-cost dumping and false advertising [7] - The article notes that by the end of 2025, the number of companies capable of mass-producing L3-level autonomous driving vehicles is expected to increase from 5 to 12, while market share for brands relying on price wars will shrink to 8% [8] - The shift from scale competition to quality competition in the automotive industry is seen as a significant transformation driven by policy, setting a new benchmark for high-quality development in Chinese manufacturing [8]

Core Insights - XPeng Inc. reported a significant increase in vehicle deliveries, achieving 33,525 Smart EVs in May 2025, which is a 230% year-over-year growth and marks the seventh consecutive month of delivering over 30,000 units [2][7] - For the first five months of 2025, XPeng delivered a total of 162,578 Smart EVs, reflecting a remarkable 293% increase compared to the same period last year [2] Product Launch and Features - On May 28, 2025, the company launched the MONA M03 Max, which lowers the entry price for urban AI smart driving to the 150,000 RMB range, making advanced vehicle technology more accessible to younger consumers [3] - The MONA M03 Max is the first XPeng model equipped with the AI Tianji XOS 5.7.0, offering over 300 new features [3] User Engagement and Technology - XPeng's XNGP achieved a monthly active user penetration rate of 85% in urban driving as of May 2025 [4] - The MONA M03 Max features human-machine co-driving capabilities, allowing both ADAS and drivers to share control, enhancing the collaboration between manual and smart driving [4] Company Overview - XPeng is a leading Chinese Smart EV company focused on designing, developing, manufacturing, and marketing Smart EVs for technology-savvy middle-class consumers [5] - The company is headquartered in Guangzhou, China, with manufacturing plants located in Zhaoqing and Guangzhou, Guangdong province [5]