2026-02-11 01:55Summary of Conference Call Notes Industry Overview - The notes focus on the electric vehicle (EV) industry, specifically new energy vehicle manufacturers in China, including Tesla, Xpeng, Li Auto, Zeekr, Avita, Leap Motor, and NIO. Key Points and Arguments 1. Tesla: - Discount range: 0-8k with a discount rate of 0-3.4% - In February, Model 3 resumed an 8k insurance subsidy [1] 2. Xpeng: - Discount range: 0-17k with a discount rate of 0-6.8% - In February, MONA received an additional 5k purchase tax subsidy [1] 3. Li Auto: - Discount range: 0-45k with a discount rate of 0-13.3% - No change in discounts in February [1] 4. Zeekr: - Discount range: 0-27k with a discount rate of 0-12.9% - In February, 007 GT received an additional 10k insurance subsidy [1] 5. Avita: - Discount range: 12.5k-22.5k with a discount rate of 3.5-10.7% - No change in discounts in February [1] 6. Leap Motor: - Discount range: 3k-17k with a discount rate of 3.1-15.9% - No change in discounts in February [2] 7. Zhi Ji: - Discount range: 8k-15k with a discount rate of 2.7-8.2% - No change in discounts in February [2] 8. NIO: - No fixed discount; Le Dao has no discount, while Firefly has a discount of 2k with a discount rate of 1.7% - No change in discounts in February [2] Additional Important Information - Discounts include cash incentives, insurance subsidies, deposit offsets, and final payment reductions, but do not include trade-in, display car, or immediate purchase discounts [3] - The data is sourced from Jielan Road, with monthly statistics covering the period from mid-last month to mid-this month, which may contain some statistical errors [3]