On April 15th, U.S. time, the White House website reiterated that due to China's retaliatory measures, goods exported from China to the U.S. are now facing tariffs of up to 245%. As early as April 11, a spokesperson for China's Ministry of Commerce stated that the U.S. imposition of excessively high tariffs on China has turned into a numbers game, holding no practical economic significance. If the U.S. continues with this tariff numbers game, China will not pay it any heed. Actually, the latest statement from the White House "China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions." That is, the maximum (up to) tariff that goods going from China to the United States might face could be 245%, not all goods. The number is not a newly imposed tariff, but the result of adding the 100% tariff on some goods (such as syringes, needles) during the 2018 trade war to the additional 145% tariff in 2025. For instance, The New York Times previously illustrated that the tariffs on certain medical products could reach up to 245% due to the==== rule. Attached figure.

Zuo Si Auto Research Releases2025 Automotive Display and Central Control Instrument Industry Research Report》。 In addition to cockpit interaction, in-vehicle display is another important carrier of intelligent cockpits. In recent years, the intelligentization level of cockpits has been continuously increasing, and in-vehicle displays are also gradually breaking the original layout, moving towards more intelligent and high-end arrangements and display panel technologies. From the assembly data, it can be seen that in 2024, more brands are adopting the cockpit without instrument schemes, the assembly volume of rear entertainment screens has doubled, and the assembly volume of connected screens (including dual and triple screens) continues to rise. 01 The degree of instrument panel reduction has deepened, with many preferring the HUD + central control screen combination solution. Note: The term "" typically refers to "independent brand" or "self-owned brand" in the automotive industry, but without more context, it's kept in pinyin here. A more contextual translation might replace this with "domestic brands" or similar depending on the specific usage. Tesla's "dashboardless" trend gained momentum in 2024, with sales of dashboardless models exceeding 1.5 million units for the year, a 50.0% increase compared to the previous year. Among these, five models from Li Auto contributed 32.4% of the market share. Three models from Deep Blue accounted for 7.9% of the market share. 2024 Partial Brand Models Adopting the "Instrument-Free" Display Solution Unlike Tesla's single central control screen solution, domestic brands often use a combination of HUD and central control screen to replace the instrument panel. Representative brands include Ideal and Deep Blue. Ideal's entire vehicle lineup adopts a HUD + safe driving interaction screen + central control screen solution to replace the instrument panel; Deep Blue's Deep Blue S07, Deep Blue S05, and Deep Blue L07 use an AR-HUD + central control screen solution to replace the instrument panel. Partial Non-Instrument Scheme Vehicle Models (Table for Incomplete Statistics) 02 The installation volume of rear entertainment screens has doubled, with the primary mounting location being the roof of the second row. From the data, in 2024, the sales volume of new cars equipped with rear entertainment screens was close to 900,000 units, with a year-on-year increase of 121.8%; in terms of vehicle types equipped, in 2024, mid-size sedans accounted for 48.1% of the new car sales volume equipped with rear entertainment screens, becoming the main driving force, medium-sized SUVs accounted for 17.0%, and MPV models accounted for 13.1%. 2023-2024, China's passenger car second-row entertainment screen installation volume and installation rate (in ten thousand units, %) (Nota: The data has been edited to exclude those behind the second row, leaving only the controlscreen located on the armrest and center of the second-row seats.) From the perspective of installation location, the second-row roof and the rear side of the front central armrest are the main installation positions for second-row entertainment screens. In terms of screen control, the current second-row entertainment screens have evolved to include various control methods such as touch control, voice, gestures, remote control, and functional control screens. Statistics on the configuration of some second-row entertainment screens and their screen features 03 The assembly volume of linked screens (including dual and triple linked screens) continues to rise, with the dual linked screen solution accounting for over 90%. In 2024, a total of 3.378 million new vehicles equipped with multi-screen solutions were sold, with the assembly volume of triple screens nearing 250,000 units, marking a year-on-year growth of over 200%. Specifically, the AITO M9 model alone contributed to more than 60% of the triple-screen market share, while the VOYAH series under the VOYAH brand accounted for nearly 20% of the triple-screen market share. 2023-2024, China's passenger car joint screen assembly volume and assembly rate (ten thousand units, %) From the assembly plan, after the electronic exterior rearview mirror was approved for use on the road, in September 2024, the first model with a five-screen solution - Lingxi L was launched, which uses a five-screen layout with three 12.3-inch display screens and two 7-inch CMS display screens. From the perspective of display screen technology, the application of OLED in vehicles is increasing, and curved screens and curved-edge screens are being installed in cars. The vehicle display panels are gradually transitioning from LCD to OLED. In the field of OLED, curved OLED and curved-edge OLED have already been implemented in vehicles. Foldable OLED and rollable OLED have mature technical solutions available. In October 2024, LanTu Zhiyin was launched. This model features the industry's first curved OLED display screen. The left curved edge can adjust the brightness, while the right curved edge supports volume adjustment. It is reported that the product comes from BOE Technology. In addition, the central control screen also supports left and right sliding on the console. Voice Assistant OLED In-car Infotainment System In March 2025, the Upright U7 was launched. This model features a 23.6-inch LCD instrument cluster, a 12.8-inch OLED curved central control screen, and a 23.6-inch OLED passenger screen display combination. This curved OLED central control screen was first applied to the Upright U8 in 2023, with a curvature of R800. Look up at the U7 display combination Summary of Models with Partial OLED Displays From the perspective of supplier capabilities, there are already mature technical solutions for foldable OLED and rollable OLED. Foldable and rollable displays were initially applied in the mobile phone field and quickly became popular. In recent years, several display suppliers have launched their own rollable/foldable display products. Thanks to the variability of their display form, foldable and rollable displays can be adjusted according to driving conditions and usage purposes within the cockpit. Moreover, they can significantly improve the interior design of vehicles by minimizing volume and can maximize the reduction of installation space. BOE 15.05-inch electric folding screen This product is developed based on BOE's f-OLED technology, featuring an R3 bend radius, allowing it to be flexibly deployed and hidden away according to different usage scenarios. BOE 15.05-inch electric folding screen LG Display foldable OLED display It can be installed on the back of the front seats, serving as a display or being detached to function as a portable tablet for work, thereby creating a "mobile office on the go" scenario. The 17-inch foldable OLED product not only allows for viewing large video screens but also enables adjustment of the screen's folding angle to use the product as a 12.3-inch tablet. LG Display 17-inch Foldable OLED Summary of Foldable/Rollable Flexible In-Car Display Solutions by Some Manufacturers  

In March, the automotive industry saw a new wave of joint ventures and collaborations. For example, BMW partnered with Alibaba and Huawei, China FAW Group signed a strategic cooperation agreement with Volkswagen Group, FAW signed with Leapmotor, Yika Technology reached a strategic cooperation with Volkswagen Group, and CATL formed a battery swap strategic partnership with NIO. This article summarizes the joint venture and cooperation events that occurred in March. BMW collaborates with Alibaba and Huawei. On March 26, BMW Group officially announced a deepening of its strategic partnership with Alibaba Group. It is reported that the two parties will focus on technological areas such as AI large language models and intelligent voice interaction. The jointly developed AI engine will be deployed in BMW's new-generation vehicles in the Chinese market. The strategy is based on empowering digital production and operations, centered on enhancing intelligent user experiences across all scenarios, and pivoted on fostering open innovation in the R&D field. It aims to accelerate BMW's 360-degree AI integration across the entire value chain in China, shaping long-term competitive advantages in the era of artificial intelligence. On March 17, BMW China announced a cooperation agreement with Huawei Consumer Business Group. The two parties will engage in in-depth collaboration around the HarmonyOS ecosystem, bringing a series of digital service upgrades to BMW's Huawei HarmonyOS users. According to the agreement, BMW will deeply integrate the HarmonyOS ecosystem in the Chinese market, launching digital services including BMW Digital Key, HUAWEI HiCar, and My BMW App. Additionally, it will develop diversified smart applications and functions based on HarmonyOS NEXT, focusing on high-frequency scenario needs. BMW has announced that the BMW Digital Key feature, developed based on HarmonyOS NEXT, will be launched within the year. The deeply integrated HUAWEI HiCar will be first introduced in locally produced BMW Neue Klasse models by 2026. For BMW, these two collaborations will help accelerate its intelligent transformation in the Chinese market and enhance brand competitiveness. China FAW and Volkswagen Group sign strategic cooperation agreement On March 17, China FAW and Volkswagen Group signed a strategic cooperation agreement in Germany. Upholding the "In China, For China" strategy, they jointly defined the new model plans for FAW-Volkswagen, further enriching the product lineup of FAW-Volkswagen. According to the cooperation agreement, starting from 2026, FAW-Volkswagen's Volkswagen brand and Jetta brand will add 11 new models tailored for the Chinese market, including 6 pure electric models, 2 plug-in hybrid models, 2 range-extended models, and 1 fuel model. The sub-brand Jetta will achieve electrification. China FAW and Volkswagen Group have had a long-standing foundation of cooperation, and the strategic cooperation agreement signed in Germany this time represents a further deepening of their partnership. FAW Audi collaborates with Zhongsheng Holdings On March 11th, FAW-Audi and Zhongsheng Group signed a strategic cooperation agreement. The two parties will collaborate in areas such as dealer network development, synergy in new energy business, pilot projects of innovative models, and enhancement of user experience. It is reported that in addition to planning to jointly establish at least 10 new sales outlets by 2025, the two parties will also collaborate on innovative business models such as new energy development and the implementation of new business scenarios. This not only helps to enhance FAW Audi's sales capabilities and market share but also further optimizes its sales network layout. FAW and Leapmotor sign agreement On March 3rd, FAW Group and Zero Run Automobile held the signing ceremony of the Memorandum of Understanding on Strategic Cooperation in Changchun. Both parties will carry out strategic cooperation in the field of new energy vehicles, aiming to strengthen technological integration, gather advantageous resources, and jointly enhance product competitiveness. It is understood that this strategic cooperation has two dimensions: first, both parties will fully leverage their respective technical accumulations in the field of R&D to jointly develop new energy passenger vehicles and collaborate on components, enhancing product competitiveness through the integration of their technologies; second, both parties will further explore the feasibility of deepening capital cooperation, so that both sides can achieve resource synergy across the entire industry chain through capital collaboration. This cooperative model is expected to become a new trend in the future development of the automobile industry. Geely Auto partners with Lotus Robotics to establish a joint venture for intelligent driving. On March 2nd, Geely Automobile announced in a statement that its affiliate Zhejiang Geerui, along with Liangjiang Industry Fund, Chongqing Industry Mother Fund, Chongqing Machi, Lotus Robotics, Qianli Technology, and River & Ocean, conditionally agreed to establish a joint venture to engage in intelligent driving business. As understood, the total capital contribution of the contracting parties to the joint venture is 4.7515 billion yuan, of which 200 million yuan is the registered capital of the joint venture. After the closing, Zhejiang Geely Ride or its designated entity, Chongqing Machi, Thousand Mile Partnership Enterprise, Lotus Robotics, and the employee incentive platform will respectively hold 30%, 30%, 30%, 5%, and 5% equity interests in the joint venture. The establishment of this joint venture further highlights Geely Automobile's emphasis and investment in intelligent driving technology. supply chain Magna collaborates with NVIDIA On March 19, Magna officially announced a deep strategic cooperation with NVIDIA. According to the agreement, NVIDIA's DRIVE AGX platform will be deeply integrated into Magna's next-generation advanced technology solution system. Magna will rely on the DRIVE Thor chip to carry out the development and testing of the latest active safety solutions from L2+ to L4 levels. The cooperation project between the two parties mainly focuses on solving the complex problems of computing resource availability and performance when integrating advanced driver - assistance systems (ADAS), autonomous driving (AD) and in - car artificial intelligence functions, and is committed to providing system solutions with scalability, flexibility and customizability to meet specific market demands and regulatory requirements. As the automotive industry transitions towards electrification and intelligence, autonomous driving technology has become a key area of focus for major component suppliers. Ningde Times and NIO have reached a strategic cooperation on battery swapping. On March 17th, Contemporary Amperex Technology Co., Limited (CATL) signed a strategic cooperation agreement with NIO in Ningde, Fujian. The two parties will jointly create the world's largest battery swapping network and promote the unification of industry technical standards, leading the new energy vehicle industry towards a new stage of high-quality development. On this basis, both parties will carry out capital cooperation. CATL is advancing a strategic investment of no more than 2.5 billion yuan in NIO Energy, further consolidating their strategic partnership. Through technology exchange, capital and business cooperation, and other means, both parties aim to achieve an industry contribution greater than 1+1=2. In addition, Ningde Times will support the development of NIO's battery swap network. The new models developed by NIO's Firefly brand will gradually adopt the standard and network of NINGDE TIMES' chocolate swap batteries. Both parties' swap networks will adopt a "dual-network operation" model, jointly providing more convenient and efficient swap experiences for swap EV owners, further enhancing the convenience of pure electric travel. This cooperation will enable both parties to complement each other’s strengths in technology, resources, and market, jointly promoting the development and application of swap battery technology. ECARX Technology and Volkswagen Group Reach Strategic Cooperation On March 6, ECARX announced a partnership with the Volkswagen Group to provide advanced smart cockpit solutions for global models under the group's Volkswagen and ŠKODA brands. According to the cooperation agreement, ECARX will provide Volkswagen with a complete intelligent cockpit solution, including the ECARX Antora® 1000 computing platform and the ECARX Cloudpeak cross-domain software platform. The first batch of vehicles resulting from this collaboration will be launched in two major emerging markets, Brazil and India, with potential expansion into more markets in the future. This collaboration not only further expands ECARX's global market share but also adds new momentum to Volkswagen's intelligent transformation.

Competition has become a multi-dimensional, all-encompassing contest. On the last day of March, Xiaomi found itself at the center of a storm. A severe car accident and a failed PR statement have plunged Xiaomi into its most serious public relations crisis since entering the automotive industry. Lei Jun's response briefly calmed the incident, but the attention to smart driving safety issues has only just begun. Since the second half of 2023, intelligent driving has developed rapidly. In February this year, BYD initiated the "Intelligent Driving Equality" campaign, marking the beginning of a rapid surge in the installation of intelligent driving systems in vehicles. The commercialization of new technologies is destined to be accompanied by twists and turns. Rather than viewing Xiaomi as an isolated incident, it is more accurate to see it as a concentrated eruption of past anxieties about intelligent driving safety. The rapidly advancing domestic new energy sector is facing increasing scrutiny over safety concerns, with pressure and skepticism closely following. Tesla falls to sixth place. Generally speaking, the first quarter is a slack season for vehicle manufacturers' sales, with most companies experiencing a significant decline in sales. Starting from March, the sales of new energy vehicle manufacturers begin to rise month by month. Last year's trade-in policy has been extended to this year. In March, various regions gradually introduced policies to further support and encourage automobile consumption. The General Office of the CPC Central Committee and the General Office of the State Council issued documents stating that they would increase support for the trade-in of consumer goods and extend the automobile consumption chain. The China Association of Automobile Manufacturers also launched the application for the recommended directory of new energy vehicles for rural areas in March. By the end of March, the total number of trade-in applications for automobiles nationwide exceeded 1.5 million. The policy benefits ultimately lead to an increase in sales performance. According to year-on-year data, the majority of the 14 automakers that have disclosed sales data showed month-on-month growth; except for Seres, all others achieved year-on-year growth. On average, the average sales volume reached 71,599 units, an increase of about 20,000 units year-on-year. There has also been a significant increase compared to January and February. According to the median calculation, the median vehicle sales volume reached 35,378 units, which is also an increase of more than 6,000 units over the same period. The furious pace of domestic car companies has already pushed Tesla to the middle of the pack. According to data released by Tesla, its sales volume in China in the first quarter was 137,200 units, which has been surpassed by Geely, SAIC, Changan, and Chery in terms of total volume. With an average monthly sales volume of 46,000 units, it is soon to be overtaken by companies such as Li Auto, XPeng, and Zero Run. Currently, the number of automakers reporting sales figures has stabilized at around 13-14, and in the future, perhaps 1-2 more may beed. The list of "surviving" automakers has been largely finalized. Due to BYD's high sales volume, the average number is pulled up, therefore, the medianIf it remains consistently below the median and the deviation is too high, then it faces significant elimination pressure. Currently, BAIC and NIO may be under the greatest pressure. Note: There seems to be a missing part in the original Chinese text (indicated by ""), which makes the sentence incomplete for direct translation. The provided translation reflects the context as accurately as possible with the given information. 19 major brands achieve over 10,000 in monthly sales According to brand calculations, 25 brands announced their sales in March. Although the overall sales cannot be compared with the fourth quarter of last year, the overall momentum of the brands is strong. Among the 25 brands, 19 brands have monthly sales exceeding 10,000 units, just two brands fewer than the peak in December, and roughly the same as in October and November last year. This month, there are 7 brands with monthly sales surpassing 30,000 units, the same number as in September last year. A total of 25 brands have achieved month-on-month growth, with only Seres showing a decline. Looking at the year-on-year data, the Matthew Effect continues to prevail. Brands with monthly sales exceeding 30,000 may see changes in ranking, but they are mostly familiar faces, and both year-on-year and month-on-month growth are maintained. Geely Galaxy, Leap Motor, and Xpeng are the most impressive brands, achieving exponential growth. Brands with lower monthly sales volumes are less likely to experience higher year-over-year growth rates. For example, Great Wall Ora, NIO, and BYD Yinger have all seen a certain degree of sales decline compared to the same period last year. The median sales of 25 brands reached 14,268 units, and except for premium brands, those with monthly sales still unable to surpass 10,000 units may face continuous downward pressure. At the beginning of this year, 16 car manufacturers or brands announced their sales targets. Since Huawei's Harmony OS did not disclose its sales figures, the completion status of 15 companies' targets can be observed this month. Sales in the first quarter are usually not very impressive, so most car companies tend to fall behind schedule. XPeng is the most outstanding performer, having achieved 27% of its target in three months, showing a very optimistic progress. In addition to Xiaopeng, the progress of Geely and Xiaomi has also exceeded 20%; Changan, BYD, and ZeroMotorcycles are also showing very optimistic progress. In comparison, Zhiyu, Nio, GAC Aion, and Changan AVATR are lagging behind, putting tremendous pressure on them in the later stages. Frequent safety issues in autonomous driving The biggest hotspot in March was undoubtedly autonomous driving. The wave of intelligent driving has surged since the second half of 2023, with Huawei and Xpeng consistently leading the pack in this arena. Particularly, Huawei, with its intelligent driving and smart cockpit systems, coupled with its high-end brand image, has demonstrated formidable competitiveness. However, the momentum of the pursuers is becoming increasingly fierce. BYD played the "smart driving equality" card in February. Wang Chuanfu announced at the intelligent strategy launch conference that all models of BYD will be equipped with the "Heavenly Eye" advanced smart driving system, standard on all models priced over 100,000 yuan, and most models under 100,000 yuan will also be equipped. It was as if smart driving had suddenly become "dirt cheap." In March, Ideal became a new disruptor. Ideal has open-sourced its self-developed car operating system "Ideal Star Ring OS." According to its introduction, since starting the OS development in 2021, Ideal Auto has built a "three-horizontal three-vertical" technology matrix: horizontally covering intelligent driving, vehicle control, and smart cockpits. Intelligent driving is rapidly advancing towards lower costs and comprehensive coverage. In this process, issues regarding the safety of intelligent driving have begun to emerge frequently. In January, a video of an accident involving the Smart S7 in autonomous driving mode gained attention online. In March, HarmonyOS responded, emphasizing that the claim of "autonomous driving malfunction" was not true. In February, a fire incident occurred in the M9 model in Changsha, Hunan. Hongmeng responded, stating that the vehicle's battery pack did not catch fire or burn. In March, on the Qingyin Expressway, a Zeekr 7X suddenly crashed into the guardrail after its autonomous driving was activated. Zeekr attributed the incident to the driver retrieving glasses, which caused a loss of steering control. The same month, a Zeekr 009 MPV lost control while driving at high speed, consecutively hit the metal guardrail in the middle of the road, and quickly caught fire. The official statement from Zeekr attributed the cause of the fire to "continuous collisions," but did not clarify whether there were any defects in the battery system. By the end of March, a Xiaomi SU7 caught fire after a collision on the De-Shang Expressway in the Zongyang section of Anhui, resulting in three fatalities. The successive issues with mainstream brands have pushed the safety concerns of intelligent driving into the spotlight. For a long time, safety accidents have been occurring, but they have been overshadowed by the rapid pace of development. Now, with the increasing penetration rate of new energy vehicles, safety issues are receiving more and more attention, and safety incidents will be further amplified, making the safety guarantees of car manufacturers truly match their promotions. At the beginning of the month, the Ministry of Industry and Information Technology required that if drivers do not use the combined driving assistance function in a standardized manner, the system should have restrictions such as prohibiting the activation of the corresponding functions. In addition, the two departments issued a requirement that if a vehicle with a combined driving assistance system causes an accident resulting in personal injury or death, the accident information should be submitted within 24 hours. A series of accidents indicate that the safety issues of autonomous driving need a solution, even from the policy side, with sufficient regulations on the promotion of autonomous driving technology and driving standards. Going overseas remains the main task for car companies. This year, BYD has become the most impressive company. In March, its overseas sales reached 72,407 units, historically surpassing the 70,000-unit mark for the first time. These three months, BYD has been setting new historical records every month. Besides BYD, Chery and SAIC are still in the first tier of car companies going overseas. Both of their exports exceeded 80,000 units. Geely and Great Wall, on the other hand, are mediocre, with sales of less than 40,000 units. In March, automakers continued to make intensive moves overseas. BYD officially entered the Kazakhstan market, with the first batch of models launched including the flagship pure electric sedan Han EV, Song PLUS EV, and DM-i. So far, BYD has entered three countries in Central Asia. The Denza D9 model under BYD was launched in Malaysia. Chery has launched four new models, including the OMODA 5 and JAECOO 7, in the Czech Republic. The company will work with local agents to build a sales and service network, with plans to establish nearly 30 sales outlets in the Czech Republic by the end of 2025. At SAIC, the overseas version of its IM6 was launched in Thailand under the Zeekr brand. Note: There seems to be a minor discrepancy in the original Chinese sentence where it mentions "" (Zeekr) but refers to the model as "IM6," which is typically associated with SAIC Motor's another subsidiary, MG. However, I've translated it directly as per your instruction. In terms of new forces, although they are retreating in the domestic market, NIO has not stopped its overseas steps. On March 20th, NIO signed four important agreements with local suppliers and financial institutions in Thailand, obtaining a credit of 100 billion baht (about 21.5 billion yuan). Xpeng announced its entry into the Polish, Swiss, Czech, and Slovak markets, with its models Xpeng P7, Xpeng G9, and Xpeng G6 scheduled to go on sale in the second quarter of 2025. Meanwhile, Xpeng signed official agency cooperation agreements with automobile distribution company Inchcape and European dealer Hedin Group. Starting from February, Xpeng accelerated its globalization process, planning to cover 60 countries and regions by 2025, aiming to be among the top three global exporters of new energy vehicles by 2027, and targeting half of its sales coming from overseas by 2033. The domestic market competition pattern is about to be fixed, and the curtain of global competition among car companies is rising. Change of leadership, placement, final sprint At present, the competitive landscape of car companies is becoming more stable, and the threshold for competition is getting higher and higher. If you want to avoid being eliminated or occupy a more favorable market share, this may be the last time window. In March, Gu Hui-nan, General Manager of GAC Aion, retired, which is a top-level personnel adjustment. According to GAC's arrangement, after Gu Hui-nan's retirement, GAC Aion will temporarily no longer have a General Manager position. For Aion, which is currently in a struggling period, Gu Hui-nan's retirement and the absence of a General Manager may mean continued struggles ahead. BAIC BluePark has also completed a leadership change, with former General Manager Zhang Guofu promoted to Chairman and former Deputy General Manager Liu Guanqiao promoted to General Manager. The personnel changes for both individuals occurred in July of last year, and within less than a year, they have become the new executive leadership team of the company. In addition to personnel adjustments, private placements and fundraising are the main themes of this month. On March 11, BYD completed its placement, successfully issuing a total of 129.8 million new H shares at a placement price of HKD 335.2 per share. After deducting commissions and estimated expenses, the net proceeds from the placement amount to approximately HKD 43.383 billion. In the same month, Xiaomi's placement was successfully completed, with a total of 800 million shares placed, raising a net amount of approximately HKD 42.5 billion. NIO also swiftly completed its placement, though the amount raised was significantly lower than that of BYD and Xiaomi. NIO's shares were priced at HKD 29.46 per share, raising a total of HKD 4.03 billion. In the capital market, selling shares when the stock price is high is a strong fundraising measure. This will provide a more solid foundation for future business expansion and R&D investment. The fundraising through share sale may be for the final share competition reserve, and the competition among car companies may continue to escalate. Mi Xiaoli Zero: The New King Takes the Throne, A Great Chaos Among New Forces If we talk about the biggest change in the new forces in March, it is probably the change of the sales champion's owner. Zeekr delivered 37,095 vehicles, surpassing Li Auto's 36,674 units, becoming the best-performing new force in sales. Since the second half of last year, Zeekr's sales have skyrocketed, continuously setting new historical highs. Zeekr's impressive performance is largely attributed to its strong cost-performance strategy. In March, Zero Run released the B10 model, with a price ranging from 109,800 to 139,800 yuan. The official stated that the car is equipped with a "unique in its class" intelligent driving solution featuring a laser radar and an 8650 chip, capable of realizing high-speed and urban automatic navigation assistance; the intelligent cockpit will adopt the 8295 chip, with the voice assistant connected to the cloud-based large model. Among users, Leapmotor has become the "affordable alternative to Li Auto," which is not only an affirmation of its cost-performance ratio but also a recognition of its product capabilities. Surpassing Li Auto to become the sales leader in the new energy vehicle sector demonstrates the success of Leapmotor's strategic approach. Xiaopeng also achieved positive results through its models. Xiaopeng was the sales champion among new in February. In March, Xiaopeng's sales reached 33,205 units, of which the low-cost model Mona M03 had delivered over 15,000 units for four consecutive months, almost. The Mona M03 completely reversed Xiaopeng's situation. Xpeng has directly planned five series of extended-range models, including sedans and SUVs. The company also plans to mass-produce its segmented flying car, the "Land Carrier," by 2026. A significant improvement in sales has reversed Xpeng's situation, bringing the company back to the forefront among new forces. Ideal Automobile is currently facing issues related to its product line. At present, Ideal only offers one type of vehicle, an SUV, and only one mode, which is extended range. This is not conducive to increasing Ideal's sales. According to the plan, Ideal's pure electric models, the i8 and i6, will be launched in 2025. The i8 is positioned as a 6-seat mid-to-large size pure electric SUV, while the i6 is a large 5-seat pure electric SUV. This may be an important initiative for Li Auto to enrich its product line. However, having absorbed the mistakes made by MEGA in the past, Li Auto has set a very conservative sales target of 50,000 units for its pure electric models. With a solid basic market, Li Auto may not need to be overly anxious about sales. However, due to the still relatively concentrated product line, it will be difficult for Li Auto to achieve new breakthroughs. In all new forces, Xiaomi may be the most special existence. In March, Xiaomi significantly increased its production capacity, with deliveries exceeding 29,000 units, which can be considered the first echelon. Xiaomi is currently not worried about sales at all. The Xiaomi SU7 Ultra received over 10,000 pre-orders within two hours of its launch, which clearly demonstrates the market appeal of its products. The monthly delivery figures for Xiaomi's cars depend more on production capacity than on the number of sales. According to the plan, Xiaomi's first SUV will soon be launched. If production capacity is maximized, Xiaomi may quickly rise to the top of the new forces. However, Xiaomi still has shortcomings, especially in smart driving. At the end of February, Xiaomi HAD’s end-to-end full-scenario intelligent driving started to be pushed out to all users in batches. But within just a month, a series of safety incidents have frequently been exposed. These safety incidents need to be properly addressed; otherwise, they will ultimately affect Xiaomi's brand image and its sales in the future. Hongmeng: The Disappeared Battle Report Entering April, Hongmeng Zhixing has been delaying the release of sales data, and it was not until April 3rd that they announced their first place in China's pure electric vehicle residual value for three consecutive months. Huawei's appeal is strong enough. The VENUS M8, priced from 368,000 yuan, exceeded 28,000 orders in just 12 hours of pre-sale. The VENUS M9 2025 model, starting at 478,000 yuan, saw more than 13,500 orders in the first 12 hours of pre-sale. Yu Chengdong said that the orders for these two models far exceeded expectations. Since the beginning of this year, several car companies have chosen to collaborate deeply with Huawei. SAIC's "Sangjie," in partnership with Huawei, is set to debut soon. It is expected to be released on April 10, with the first model being an optimized version of SAIC's existing models. GAC's collaboration with Huawei is also progressing steadily. In addition, BMW is collaborating with Huawei to develop HarmonyOS smart applications, and the partnership has extended to foreign car manufacturers. However, the sales of HarmonyOS in March may not be particularly optimistic. According to the production and sales data released by Seres, Seres cars led by the Aska series only sold 18,805 units in March, failing to break through 20,000 units for three consecutive months. In terms of Zhi Jie, its March sales were only 10,005 units, which is basically the same as February. The performance of these two major models can only be described as barely satisfactory, and Hongmeng Zhixing is facing a test. The greatest challenge may still stem from BYD's "intelligence driving equality" and the "megawatt flash charging" technology released in March, the latter of which can charge 407 kilometers in 5 minutes with a maximum charging voltage of 1000V. In terms of three electricity and intelligent driving, it poses a challenge to Huawei's advantageous technology. Chengdong Yu once posted on Weibo after a BYD that, "In intelligent driving, there is a vast difference between barely usable and good, safe use." This statement seems to imply BYD. When models in the 100,000 yuan price range can accommodate smart driving, it becomes difficult for vehicles priced between 300,000 to 500,000 yuan to demonstrate "high-endness" through smart driving features alone. HiSilicon Smart Mobility is facing a new challenge. NIO: Tightening the Belt to Avoid Elimination NIO has been on a intensive media push in March. Li Bin has communicated externally multiple times, focusing on aspects such as profitability. Li Bin admitted that NIO has indeed not done well enough in terms of implementation, management, cost control, and return on investment. The investment in NIO's intelligence and battery swapping has been substantial, but the communication has not been effective. NIO has fully implemented the CBU (Core Business Unit) management measures and expects to be profitable in the fourth quarter of this year. In March, NIO's delivery volume was only 15,039 units. Although this is considered an improvement, there is still a significant gap compared to competitors. Among them, the main brand has not shown any particularly notable progress, with sales just surpassing 10,000 units. The low-priced model, the Lido L60, also performed poorly, with March sales only reaching 4,820 units, repeating the sales trend of the main brand models. In the past few years, NIO has incurred losses exceeding 100 billion yuan. If it weren't for Li Bin's strong fundraising ability, NIO might not have made it to today. Now, at a critical stage of competition, NIO cannot spend money recklessly or continue to incur losses, which has significantly increased operational pressure. Currently, NIO has one last card to play—Firefly. This model is expected to launch on April 19th and is a more affordable brand, tasked with driving sales. NIO's window of opportunity is gradually closing, and the real challenge is this year. GAC Aion: The Dilemma of High-End Development Aion was once an extremely strong brand in the new energy sector, but in recent years, its sales have consistently failed to achieve further breakthroughs. In March, Aion's sales reached 34,082 units, surpassing XPeng but falling short of Li Auto and Leapmotor. Since its inception, Aion has had an inseparable connection with ride-hailing services, which was initially its core market but has now become a stereotype that the brand struggles to shake off. Aion has attempted to move upscale, such as with the Aion LX Plus model, which has a minimum price of 286,600 yuan. However, it is clear that this is not enough for Aion to establish a high-end perception. On March 18, GAC Group invested in the establishment of a new company, Huawang Automobile, and a new high-end intelligent vehicle brand will be announced soon. GAC has chosen to embrace Huawei, and GAC Group Chairman Feng Xingya revealed that the Huawang Automobile project, a collaboration between the two parties, will mainly target high-end customers in the 300,000 yuan range. Detailed product definitions and positioning will be primarily led by Huawei. This is a significant exploration of GAC's high-end strategy. By leveraging Huawei's high-end brand, GAC may be able to establish its own high-end brand. This also means that the brand positioning and strategic situation of Aion could potentially be affected. The positive aspect is that Aion remains a brand highly favored by ride-hailing drivers, which ensures a baseline for product sales. However, the negative aspect is also evident: Aion's path to high-end positioning may be exceptionally difficult. Nezha: The Struggle to Turn the Tide from Rock Bottom Nezha finally received positive news this month. On March 25, NIO's sub-brand Neta Auto reached a debt-to-equity agreement exceeding 2 billion yuan with 134 key domestic suppliers in preparation for resuming production. According to multiple media reports, the debt restructuring plan provided by Nio Automobile to its suppliers is that 70% of the suppliers' claims will be converted into equity in Hezhong Automobile, the parent company of Nio Automobile. The remaining 30% of the claims will be treated as interest-free debt and repaid in cash in installments. The claims will be evenly divided into 15 installments, with payments to be made monthly starting from May this year. This means that Nezha may not come to an abrupt halt like Weltmeister and Jirui, and still has the possibility of a comeback. However, the possibility of a turnaround is limited. Alongside the disclosure of the debt-to-equity agreement, news emerged that Dai Dali, the Chief Technology Officer (CTO) of NIO, and Wang Junping, the head of the autonomous driving business, have resigned. At present, even with stable sales over ten thousand, it may not be able to get on the "ship" at the end. Nezha, even if it can recover, may still find it difficult to join the mainstream. This may be the current situation of competition among car companies. The competition threshold is extremely high. If you fall behind, you may never have a chance to turn things around. The error tolerance of car companies is also very low, and competition has reached a white-hot stage. This process involves products, brands, as well as intelligent driving, three electric systems, and involves both domestic and overseas markets. Competition is a multi-dimensional, comprehensive competition.

Following President Trump's announcement regarding imports Imposing higher tariffs, the global automotive industry is already preparing for the tough times ahead. The latest developments in Europe may make the situation worse, as the EU has uncovered another major scam in modern automotive history. In the past day, the European Commission has imposed a total fine of 458 million euros (approximately 3.635 billion yuan) on 15 large car manufacturers operating in Europe and the European Automobile Manufacturers Association (ACEA) for their involvement in "a long-standing End-of-Life Vehicles (ELV) recycling monopoly alliance". All these companies admitted to participating in the monopoly alliance and agreed to settle. Mercedes-Benz was also part of the cartel, but the company was granted full immunity as a key whistleblower, saving it from a 35-million-euro ($282-million) fine. Some well-known car manufacturers, including Stellantis (and its subsidiary Opel), Mitsubishi, and Ford, received certain reductions in fines for cooperating with the European Commission. EU Directive on End-of-Life Vehicles (ELV) End-of-Life Vehicles (ELVs) refer to cars that are no longer suitable for road use due to age, wear, or damage. These vehicles are typically dismantled and processed accordingly to achieve goals of recycling, reusing, and properly disposing of them, thereby reducing waste generation and recovering valuable materials such as metals, plastics, and glass. This effort is aimed at better supporting the European Union's decarbonization and recycling objectives. The European Union passed the 2000/53/EC Directive on end-of-life vehicles (the "ELV Directive") in 2000, which began to be implemented in 2002. Every year, millions of cars are scrapped in Europe. If end-of-life vehicles are not managed properly, they can pose a threat to the environment and lead to a significant loss of materials. The introduction of the directive aims to minimize the environmental impact of end-of-life vehicles and improve the environmental performance of all economic operators involved in the vehicle life cycle. The directive contains regulations on the collection, treatment, recycling, and reuse of end-of-life vehicles. The European Union's End-of-Life Vehicles (ELV) directive is set to undergo a major revision, with the new ELV directive on the horizon. Since the EU's publication of the "Circular Requirements for Vehicle Design and End-of-Life Vehicle Management" (the "new ELV directive") proposal on July 13, 2023, it has attracted widespread attention from global automotive companies. On January 29, 2025, the European Parliament officially released the draft report on the resolution of the new ELV directive proposal, with the legislative process continuing to advance. The draft mentions the following key amendments: Recycled Plastic Proportion Adjustment:The new ELV directive aims to increase the use of recycled plastics in vehicles. The European Commission initially proposed a 25% recycled plastic ratio for new cars, but the European Parliament considered it to be "reasonable and realistic" and reduced the ratio to 20%. At the same time, the proportion of recycled plastics from scrapped vehicles also dropped from the originally proposed 25% to 15%. Expansion of sources for recycled plastics:The sources of recycled plastics have been expanded in the revised version. To achieve the 20% quota, manufacturers can now use pre-consumer, post-consumer waste plastics, and bio-based plastics in addition to the original sources, making it more flexible to achieve sustainability goals. Redefinition of plastic types:The revised regulations stipulate that only thermoplastic and polyurethane foam plastics are considered as plastics. Since thermoset plastics are difficult to recycle, including them would increase industrial costs. This ensures that only recyclable plastics are counted towards the target, and allows for adjustments to the regulations based on future advancements in recycling technology. Strengthen supervision and evaluation:The European Parliament has called on the European Commission to develop standard methods for calculating and verifying the recycled content within 12 months of the entry into force of the regulation, taking into account advanced technologies such as chemical recycling, and to introduce digital product passports to improve the traceability of recycled plastics. Punishment Reason The monopoly alliance began in May 2002 and lasted until September 2017, spanning 15 years. According to the investigation results of the European Commission, 16 major car manufacturers, including Mercedes-Benz, which was not fined, reached an anti-competitive agreement with the European Automobile Manufacturers Association (ACEA) and acted in concert in the field of end-of-life vehicle recycling. Specifically, these automakers have improper collusion in the following two aspects: The "zero processing cost" strategy: They unanimously agreed not to pay vehicle dismantlers for processing end-of-life vehicles, believing that the recycling of end-of-life vehicles is a profitable business and thus no service fees need to be paid. Additionally, these companies shared commercially sensitive information with vehicle dismantlers and coordinated their actions towards the dismantlers. Concealing recycling information: They decided not to publicize the quantity of recyclable parts in scrapped vehicles, the reuse rate, or the use of recycled materials in new cars. The aim is to prevent consumers from considering these environmental factors when purchasing vehicles, thereby reducing the competitive pressure on companies due to environmental requirements. According to the current European Union End of Life Vehicles (ELV) directive - 2000/53/EC, the last owner of a scrapped vehicle has the right to hand it over to dismantlers for free, and car manufacturers are obliged to bear the relevant costs if necessary. In addition, car companies are obliged to inform consumers about the recyclability of the vehicle.

Image source: Internet **China Association of Automobile Manufacturers: Hopes for the US to Listen to Industry Voices and Correct Wrongdoings in a Timely Manner** According to the China Association of Automobile Manufacturers, recently, US President Trump signed a proclamation announcing the imposition of a 25% tariff on imported vehicles and some parts. The China Association of Automobile Manufacturers firmly opposes this and hopes that the US will listen to the voices of the industry and correct these wrongdoings promptly. The automobile industry is highly internationalized, achieving optimal allocation of global resources through efficient cross-national supply chains, providing users worldwide with safe and convenient transportation and logistics tools. The US, for its own benefit, imposes tariffs, which is a typical act of unilateralism, severely violating WTO rules, disrupting normal trade order, causing significant impact on the stability of the global automotive industry supply chain, and further raising car prices, imposing additional burdens on consumers, including those in the US, and negatively affecting the global economic recovery. The China Association of Automobile Manufacturers calls on the US government to listen to industry voices, correct these wrongdoings in a timely manner, seek mutually beneficial solutions through consultations and exchanges, and conduct international trade with an open, inclusive, and cooperative attitude to jointly maintain the prosperity and stability of the global automotive industry. At the same time, the China Association of Automobile Manufacturers will also actively communicate and cooperate with international peers to jointly address this challenge, contributing to protecting the rights and interests of global consumers and promoting world economic development. Nissan Withdraws U.S. Factory Production Cut Plan to Respond to Trump Tariffs Nissan Motor announced on the 4th that it has withdrawn its plan to reduce production at its U.S. factories, which was scheduled to be implemented in April as part of its rationalization measures, and will maintain its current production system. This move comes in light of the U.S. government's tariffs on imported cars, which took effect on the 3rd, and aims to keep local production at a scale that is not subject to tariffs. Previously, Nissan had announced plans to partially cut production schedules at its Tennessee plant for the SUV "ROGUE." Additionally, Nissan has shifted the production of pickups originally assigned to the French automotive giant Renault, part of a corporate alliance, in Argentina to its own factory in Mexico. This change aims to reduce costs such as outsourcing fees. **Automotive Giant Stellantis Announces Layoffs in US Factories and Halts Production in Canada and Mexico Plants**On the 3rd local time, the automotive giant Stellantis announced that due to the impact of the tariff policies introduced by Trump on the industry, they have decided to lay off 900 employees across five of their US factories and halt production at two assembly plants in Canada and Mexico. The multinational automotive manufacturing company, Stellantis Group, stated that the Chrysler assembly plant in Windsor, Canada, will suspend production from the 7th to the 21st of this month. This factory, which employs around 4,000 people, is one of Stellantis' three plants in Canada. The Jeep assembly plant in Toluca, Mexico, will also be shut down for approximately one month. Many employees of Stellantis have expressed concerns about the production suspension. South Korean officials said on Sunday that the government plans to inject 30 trillion won ($20 billion) in emergency aid into the local automotive industry to alleviate the impact of the new 25% tariffs imposed by the United States. South Korea is one of the most severely affected countries by Trump's tariffs, with its exports of automobiles to the United States accounting for nearly half of its total overseas car sales. A person from South Korea's Ministry of Finance and Economy said: "Although the specific amount has not been determined, it is expected to reach about 30 trillion won. This fund will be paid through the existing loan programs of the industrial banks." Jaguar Land Rover, a British car company, will suspend the export of its UK-made vehicles to the United States for a month, as the company explores ways to mitigate the impact of a 25% tariff on car costs imposed by US President Trump. En**e Co., Ltd. (002812.SZ) announced that its subsidiary, En**e USA, has signed a supply agreement with a well-known American car company to supply approximately 973 million square meters of lithium battery separator films to En**e USA (and its affiliates) from 2026 to 2030, subject to individual purchase orders. The agreement will be valid for five years from the start of the supply and will automatically renew for a one-year term each time. The signing of this agreement is expected to have a positive impact on the company's operating performance from 2026 to 2030. **Resisting US Tariffs, Canada Retaliates by Imposing 25% Tariff on US Cars**Canadian Prime Minister Carney announced a series of countermeasures against so-called "reciprocal tariffs" from the United States in a press conference held in the capital Ottawa on April 3. Carney stated that US President Trump's tariff policy aims to reconstruct the international trade system. All of Canada's countermeasures are to protect industrial workers in the country. He revealed that thousands of workers have already lost their jobs due to US tariffs. Carney said that Canada will impose a 25% tariff on all imported US cars. The revenue generated from all anti-tariff measures will be returned to the automotive industry. Carney also mentioned that Canada will seek to renegotiate its trade agreement with the United States and look for more reliable trading partners. Regarding the domestic economy, Carney said a series of stimulus measures will be introduced to help the development of domestic businesses. These include: eliminating domestic trade barriers, establishing a unified domestic market, building a large number of residences, etc.

On April 3 local time, Canada's new Prime Minister Carney announced that the Canadian government will follow the U.S. approach and impose a 25% tariff on all U.S. imported cars not covered by the USMCA (United States-Mexico-Canada Agreement). At the same time, trade and economic tensions between Europe and the United States are escalating rapidly. On April 3rd Eastern Daylight Time, French President Emmanuel Macron publicly called on French companies to suspend investments in the US and urged the EU to adopt a tough stance in response. French government spokesperson Sophie Primas stated that France is pushing the EU to retaliate against US tech companies and is expanding countermeasures to include the service sector. In addition, the WTO issued a statement on US tariff policies, indicating that these policies are expected to have a significant impact on global trade and economic growth prospects. Preliminary analysis suggests that these policies, combined with measures implemented since the beginning of this year, could lead to a decline of about 1% in global merchandise trade volumes this year,****************compared to previous forecasts. Announce countermeasures On April 3 local time, Canada's new Prime Minister Carney announced a series of countermeasures against U.S. tariffs, while calling Trump's protectionist moves a tragedy for global trade. At a press conference held in Ottawa, Carney announced that the Canadian government will follow the U.S. practice of imposing a 25% tariff on all U.S. imported cars that are not included in the USMCA (United States-Mexico-Canada Agreement), but auto parts will not be affected, nor will it impact cars coming from Mexico. "Considering the potential harm of tariffs to the American people, the U.S. government should ultimately change course. But I do not want to give people false hope." He added that it may take a long time for the U.S. to change its attitude. Carney also said that the previously announced tariff measures will remain unchanged. Canada has previously announced that it would impose a 25% retaliatory tariff on US goods worth about 155 billion Canadian dollars (approximately 110 billion US dollars). Carney said, "We were forced to take these measures, and the way we did it was targeted, aiming to have the greatest impact on the U.S. economy while minimizing the impact on Canada." Carney claims that over the past 80 years, the United States has played a significant role in the international economic system, promoting free trade and globalization, and helping to establish an open international economic order. However, all of this has now come to an end, which is a tragedy. Carney stated that Trump's tariff policy is an attempt to reconstruct the international trade system. All of Canada's countermeasures are aimed at protecting its domestic industrial workers. He revealed that due to U.S. tariffs, thousands of workers have already lost their jobs. Automobiles are Canada's second-largest export product, directly employing 125,000 Canadians and providing jobs for nearly 500,000 more in related industries. Although Carney stated that Canada still considers the United States an ally in defense and security, Canada will seek more reliable trading partners to reduce its dependence on the U.S. and protect its economic sovereignty. He spoke with German Chancellor Scholz that morning and claimed to agree to strengthen the diversified trade relationship between the two countries. "When we are facing the crisis caused by Trump's tariffs, reliable trade partners are more important than ever." Schuolz then said: "The EU is the world's largest single market, therefore, we have a complete opportunity to respond in a united and decisive manner, the EU has its own policies and means to deal with trade disputes." Europe's moves At the same time, Europe is also brewing countermeasures. On April 3rd, Eastern Time, French President Macron publicly called on domestic companies to suspend investments in the US and urged the EU to deal with the situation with tough measures until the US-Europe trade policy becomes clearer. A series of signs indicate that trade and economic tensions between Europe and the United States are escalating rapidly. During his meeting with French business representatives, Macron said: "Some companies that originally planned to invest in the United States should pause their projects until the U.S. tariff policy becomes clearer." He pointed out that while the United States is imposing additional tariffs on Europe, European companies continue to invest in the United States, sending a "contradictory signal." He emphasized that European countries should unite to confront the United States' tariff policy, rather than acting unilaterally. Macron stated that he would not rule out retaliatory measures against US tariffs, and France's response to US tariffs would be "larger in scale" than the previous retaliation against US steel and aluminum tariffs. He stated that if Europeans unite in response, they will be able to successfully dismantle US tariff policies. "We are fully prepared to counter US tariffs, and we are not ruling out the use of the EU's anti-coercion instrument against the US. All tools to counter US tariffs are under consideration, such as strengthening regulations on US digital service companies." Earlier on Thursday, Sophie Primas, a spokesperson for the French government, said that France is pushing for the EU to retaliate against US tech companies and is expanding countermeasures to include the services sector. On the same day, German Vice Chancellor and Minister of Economics Robert Habeck said that if Europe could unite, US President Trump would "yield to pressure" and adjust his tariff policy. The outgoing German Chancellor Scholz also said that he believes Trump's latest tariff decision is "fundamentally wrong." He stated that these measures are an attack on the global trade order, and these "ill-considered decisions" will harm the global economy. The U.S. government is on a path that "will only make everyone losers." According to the latest reports, informed sources have revealed that EU regulatory authorities are preparing to impose significant penalties on Musk's social media platform X for violations of the EU's Digital Services Act (DSA). The penalties will include fines and demands for product changes, with the fine amount potentially exceeding $1 billion. WTO Warns On April 3rd local time, the World Trade Organization (WTO) issued a statement regarding the United States' tariff policy. The WTO Secretariat stated that it is closely monitoring and analyzing the tariff policy issued by the United States, and answering questions from WTO members about the potential impact of these policies on their economies and the global trade system. The WTO expects the U.S. tariff policy to have a significant impact on global trade and economic growth prospects. The statement says that, according to the World Trade Organization's preliminary estimates, the tariff measures introduced by the United States since the beginning of this year may lead to a contraction of global merchandise trade volume by about 1% by 2025, which is nearly 4 percentage points lower than previous forecasts. The Director-General of the World Trade Organization, Okonjo-Iweala, said on the 3rd that the United States' imposition of tariffs will have a huge impact on the prospects for global trade and economic growth. Iweala expressed deep concern over the magnitude of trade contraction and the potential for a tariff war triggered by retaliatory measures, emphasizing that the vast majority of global trade still follows the Most Favored Nation treatment terms of the WTO. She called on WTO members to unite and prevent further escalation of trade tensions.

Hyundai Motor plans to launch a new generation of interior designs next year, with the core concept of enhancing driving safety by optimizing the interior layout. Simon Rozby, the Vice President of Design, revealed that the new design will retain physical buttons, reduce reliance on the central control screen, and at the same time reduce the size of the infotainment display and simplify the touch screen software functions. The aim is to ensure that drivers "keep their eyes on the road and hands on the steering wheel," avoiding distractions caused by frequent screen operations. The Hyundai design team believes that it is crucial to strike a reasonable balance between screen size and functional layout. Screens should only serve as auxiliary tools, not dominate driving operations. Overly large screens or complicated submenus can force drivers to be distracted, violating the principle of "focus on driving." This design philosophy coincides with Volkswagen's recent trend of returning to analog design, emphasizing a driver-centered safety experience.

According to Zhitong Finance APP, Volkswagen (VWAGY.US) plans to increase the import fees in the pricing of cars shipped to the United States, indicating that President Donald Trump's 25% auto tariff will have a direct impact on this largest European car manufacturer. According to reports, Volkswagen sent a memo to U.S. dealers informing them of related costs and taking measures to temporarily halt rail shipments of vehicles from Mexico and keep vehicles shipped from Europe at ports. A Volkswagen spokesperson confirmed the existence of the memo but declined to comment on its content. German carmakers are among the industries most affected by Trump's increase in car import tariffs. Strong demand for more profitable SUV models and a slower shift towards electric vehicles among American consumers have made the U.S. market an important source of profit for companies like Mercedes-Benz Group and Porsche. Hildegard Müller, head of the German automotive lobbying group VDA, stated that Trump's tariffs represent a "fundamental turning point in trade policy." She argued that this move would only result in losses for all countries involved, including the U.S., with American consumers facing "higher inflation and reduced product choices." Trump's auto tariffs took effect on Thursday, unsettling the automotive industry. German automotive stocks plummeted on Thursday, with Volkswagen and Mercedes-Benz experiencing intraday declines of over 3%. BMW's stock price rose by 1.6% at one point, reversing an earlier downward trend. Volkswagen has a factory in Tennessee that produces the electric ID.4 and the large Atlas SUV. Models including the ID. Buzz van and Golf hatchback are imported from Europe, while the Tiguan, Taos SUV, and Jetta compact sedan are imported from Mexico. This German manufacturer has long sought to achieve growth in the lucrative North American market. Last year, the company's sales in North America accounted for about one-fifth of its total sales. In 2024, Volkswagen's deliveries in the region increased by 7%.

The measure of U.S. President Trump imposing a 25% tariff on imported cars officially took effect after midnight on Thursday in Washington time, which is expected to significantly increase the cost of the automotive industry and disrupt the supply chain. According to Trump's announcement of the plan last week, some auto parts will also be subject to tariffs at the same rate no later than May 3. These tariffs could lead to new car prices rising by thousands of dollars and have an impact on auto sales. On Wednesday, Trump also announced that the United States would impose a starting 10% reciprocal tariff on all imported goods, with more than 60 countries and regions with the largest trade deficits facing even higher rates. Although the reciprocal tariffs do not apply to imported automobiles and auto parts, automakers have already been impacted by the escalating trade war. "Although the auto industry may have dodged a bullet, we remain concerned that auto and parts tariffs will be here to stay for the long term and will bring a significant cost burden," Bernstein analyst Daniel Roeska said in a note to clients. Officials said that the United States will maintain a 25% tariff on Canada and Mexico related to drug trafficking and illegal immigration, but at the same time, the two countries are not within the scope of the United States' retaliatory tariffs. Goods covered by the United States-Mexico-Canada Agreement, which Trump promoted during his first presidential term, will continue to be exempt from tariffs. Auto industry executives have been lobbying the Trump administration for weeks in an effort to mitigate the impact of the trade war.Ford Motor Company(10.15, 0.21, 2.11%)、General Motors(47.98, 0.72, 1.52%)Stellantis NV, the parent company of Chrysler, recently called for the exclusion of some low-cost auto parts from tariffs.  

Event Summary On April 2, 2025, U.S. President Trump officially signed the "Reciprocal Tariff" executive order, implementing differentiated tax rates for major global trading partners: China (34%), the European Union (20%), Japan (24%), South Korea (25%), India (26%), Vietnam (46%), Thailand (36%), etc., and imposed an additional 25% tariff on all imported automobiles and parts. This policy, under the guise of "fair trade," actually targets China, the European Union, and Asian manufacturing countries through tax rate disparities, causing a strong backlash from the international community. Canada, Mexico, the European Union, and other countries have already initiated plans for retaliatory tariffs, plunging the global supply chain into short-term chaos. The long-term impact depends on the strength of multilateral countermeasures and the speed of industrial chain restructuring. Policy Background The implementation of Trump's tariff policy is rooted in the long-standing structural contradictions in the United States and profound changes in the domestic political ecology. Economically, the hollowing out of American manufacturing and the ongoing trade deficit issues have continued to ferment; politically, social polarization in the United States has intensified, and the dissatisfaction of voters in traditional manufacturing states with the economic situation has been amplified by populist sentiments. The Trump administration continued the "America First" protectionist logic by using tariffs as a tool for multiple games. Its core objectives include: protecting traditional industries such as steel and aluminum by increasing import costs, thereby promoting the return of manufacturing; using tariff revenues to alleviate fiscal deficits and subsidize domestic tax cuts; simultaneously, creating trade frictions to gain support from voters in the Midwest, paving the way for the 2026 midterm elections and re-election. The legal basis for the policy comes from the International Emergency Economic Powers Act and Section 232 of the Trade Expansion Act. However, the international community widely criticizes the abuse of the "national security" argument to bypass WTO rules and implement unilateral sanctions. It is worth noting that Trump's so-called concept of "reciprocity" fundamentally conflicts with the principle of overall balance of rights and obligations in the WTO, as it only measures trade deficits in goods while ignoring the deep impact of trade surpluses in services and the international status of the US dollar on trade structure. Impact on China: Challenges and Opportunities Coexist The Trump administration imposed a cumulative tariff of 20% on Chinese goods imported into the U.S. If Congress were to revoke China's "Permanent Normal Trade Relations" (PNTR) status, the total tariff could skyrocket to 68%, significantly impacting industries such as food and beverages, electronics, and textiles. It is estimated that this would lead to a decrease in exports to the U.S. by 6-9 percentage points. However, China's automobile export dependence on the US is only about 0.5%, and new energy vehicles achieve a doubling of export volume in 2024 through the "Belt and Road" initiative (such as Russia, the Middle East), partially offsetting the impact of a 100% electric vehicle tariff. However, automobile parts exports face a severe test, with exports to the US reaching 10.1 billion US dollars in 2024, and 30% of US car companies' components rely on China, forcing the supply chain to accelerate "de-Chinaization" under tariffs. Challenges also bring opportunities: The EU, Japan, and South Korea are turning to China for cooperation due to U.S. tariffs, accelerating regional economic integration under the RCEP framework; the process of domestic substitution in fields such as semiconductors and chips has significantly accelerated; China is showcasing greater economic resilience by expanding domestic demand and promoting upgrades in high-end manufacturing. Global Impact: Supply Chain Restructuring and Inflation Spiral The United States has imposed a 25% tariff on automobiles and auto parts, directly impacting Mexico (which relies on the United States for 3 million vehicle exports) and Japan and South Korea (where auto exports to the United States account for more than 25% of their vehicle production). To avoid rising costs, automakers may turn to China for purchasing auto parts, accelerating the "de-Americanization" of the global supply chain. However, American automakers also face difficulties: 30% of their auto parts depend on China, causing an increase in the cost per car of $3,500 to $12,000, weakening their global competitiveness. Trade confrontation is becoming cyclical: The EU plans to impose tariffs on American technology products, while China counters by restricting imports of soybeans, corn, and liquefied natural gas from the U.S., and limiting exports of rare earths. The global trade tensions are escalating, and the WTO's dispute resolution mechanism is paralyzed due to U.S. obstruction of judge appointments, further eroding the authority of the multilateral system. Economies like Mexico and South Korea, which are heavily reliant on the U.S. market, face the risk of recession. Conclusion: The Costs of Protectionism and Future Pathways Trump's tariff policy is a mixture of economic nationalism and geopolitical****, with its short-term effect of stimulating the return of manufacturing potentially being outweighed by long-term costs: consumers bear inflationary pressures, corporate investment intentions decline, and the credibility of the US dollar is damaged. For China, the pressure on exports forces technological innovation and market diversification, but it is necessary to be wary of the loss of industrial chain position in the process of supply chain reconfiguration. The international community's countermeasures and joint boycotts have shown results: China, together with over 160 countries, filed a complaint in the WTO, the European Union launched the "anti-coercion tool", and more than 130 countries worldwide signed the "Joint Statement" opposing unilateralism. Historical experience has shown that there are no winners in trade wars, only by returning to multilateral consultations and rebuilding an inclusive global economic governance system can we avoid the vicious cycle of "beggar-my-neighbor". In the future, the uncertainty of US policy shifts and the response capabilities of various countries will become key variables in reshaping the global trade order.

On April 3, reports indicated that Vietnam's Ministry of Finance recently proposed cutting import tariffs on a range of products including cars, liquefied natural gas (LNG), wood, and agricultural goods. The tariff on certain types of cars would be reduced from a rate ranging between 45% and 64% down to 32%. This move aims to avoid potential additional tariffs that the U.S. might impose on Vietnam. Reports indicate that Vietnamese authorities stated that the decree revising the most-favored-nation tariff adjustment is expected to be released within 3 months. The statement indicated that the revised decree was "to address the complex and unpredictable developments in the global geopolitical and economic landscape," as tariff policies "significantly" impact the economies of countries worldwide, including Vietnam. In 2024, Vietnam's trade surplus with the United States expanded to $123.5 billion, making it the third highest country with a trade surplus against the U.S., following China and Mexico. In response, the equivalent tariffs imposed by the United States on Vietnam reach as high as 46%, making it the fourth highest among countries and regions on the tariff list, only behind Cambodia, Laos, and Madagascar. Additionally, apart from the United States, Vietnam has previously announced a series of import tariff adjustments targeting other automobile-exporting countries. According to the latest policy, starting in 2025, Vietnam will reduce import tariffs on luxury cars from regions such as Europe and Japan.  

Fast Technology News on April 3rd,BYDSince 2022, it has consistently surpassed for three consecutive years.Tesla, consecutively ranked top globallyNew energy vehicle salesChampion. According to Counterpoint's forecast, this year, BYD will surpass Tesla in the pure electric vehicle market and win the global top spot for the first time! According to forecasts, in 2025, BYD's global market share of pure electric vehicles will reach 15.7%, surpassing Tesla's 15.3%. The agency analyzed that BYD's advantage lies in its vertical integration. It controls key components such as batteries, motors, and electronic systems through subsidiaries and is expanding into the charging infrastructure sector. This end-to-end control is expected to allow BYD to offer vehicles at competitive prices without sacrificing profitability, further consolidating its market leadership position. Furthermore,BYDThe newly launched ultra-fast charging system outperforms Tesla's Supercharger and sets a new industry standard. Counterpoint's research analyst Abhik Mukherjee stated, "The system can provide 400 kilometers of range in just 5 minutes, setting a new industry standard that far exceeds the approximately 275 kilometers added by Tesla superchargers in 10 minutes. This technological leap is expected to significantly alleviate consumer concerns about charging time, thereby promoting the popularity of electric vehicles." In contrast, Tesla is facing multiple challenges. Due to CEO Musk's political stance, his public image in key markets in the United States and Europe has been damaged, leading to consumer boycotts. Data from early 2025 has already shown a decline in sales in these regions. The escalation of the U.S.-China trade dispute and the increase in tariffs on Chinese electric vehicle components have further disrupted Tesla's supply chain. These factors, combined with product launch delays and intensified competition, are expected to have an impact.TeslaIn 2025, throughout the year.

The automotive industry has undergone a drastic transformation over the past century.GAC's recent financial report is quite surprising.I knew that it is no easy task for an elephant to turn around, but I didn't expect that a few years ago, the leading giant in the new energy transition, GAC, has now reached an unprecedented urgent moment.Full-year consolidated revenue was 107.8 billion yuan, down 17%; net profit attributable to parents of the company was 824 million yuan, down 81.40%; non-recurring profit or loss attributable to parents of the company turned from a gain to a loss, with a loss of 4.35 billion yuan, a sharp decline of 221.8%.In 2024, automobile deliveries reached 2.0031 million units, a year-on-year decrease of 20%. Among them, the once "cash cows" GAC Toyota and Honda both saw double-digit declines in sales, while the transformation's key player, the "favored son" Aion, also experienced a significant drop in sales.Despite this, Feng Xingya, who has just taken over as chairman for more than a month, still provided a positive guidance of a 15% increase in annual sales—about 2.3 million vehicles.GAC's confidence is entirely based on its heavy investment in an intelligent future.Joint venture "cash cows" face plummeting sales, squeezing profits.Amid the heated competition where multiple car manufacturers are submitting their "strongest ever" financial reports, GAC's report seems somewhat "weak."In 2024, Guangzhou Automobile Group's consolidated revenue (i.e., autonomous brands) was 107.78 billion yuan, a year-on-year decrease of 16.8%; the combined revenue (including joint ventures and subsidiaries) was 401.65 billion yuan, a year-on-year decrease of 20%.Guangqi's annual gross profit was 4.152 billion yuan, a year-on-year decrease of 26.72%.The group's overall gross profit margin was 3.85%, a decrease of 0.52 percentage points compared to the same period last year; among these, the part related to "vehicles," the gross profit margin for整车制造 (vehicle manufacturing) was only 2.18%, a decrease of 0.52 percentage points year-over-year, while the gross profit margin for the parts manufacturing industry was 7.83%, an increase of 1.04 percentage points year-over-year. Note: "整车制造" is translated as "vehicle manufacturing" since "整车" typically refers to "complete vehicle" or "entire vehicle." If "整车制造" specifically refers to "whole vehicle manufacturing" in this context, it should be kept as is. However, based on common practice, "vehicle manufacturing" is used here.In terms of profit, the group's net profit attributable to shareholders for the year was only 824 million yuan, a year-on-year decrease of 81.4%.Moreover, this is based on the premise of a non-recurring profit contribution of 5.175 billion yuan, including GAC's transfer of 18.82% equity in Guangzhou Juban Technology Research, which directly increased net profit by 2.26 billion yuan, among other factors.Excluding non-recurring gains and losses, GAC's attributable net profit turned to a loss, with a net loss of 4.351 billion yuan in a year, a year-on-year decrease of 221.8%, marking the first loss for GAC in 20 years.Core indicators are all declining, and in GAC's view, the blame points directly to the drop in sales caused by price wars.On the joint venture side, for the entire year of 2024, Guangzhou Toyota's sales reached 738,000 units, a year-on-year decrease of 22.3%; Guangzhou Honda sold 471,000 units, a year-on-year decrease of 26.5%, making it the brand with the largest decline within Guangzhou.The revenue from two joint venture brands was 177.8 billion yuan, a year-on-year decrease of 27.8%.On the other side, GAC's自主品牌 (independent brand) accounted for 40% of total sales in 2024. Among them, the main force in the transformation, sales of new energy vehicles, accounted for 22.7% of total annual sales.GAC's biggest hope for transitioning to new energy, Aion, is困by the saturation of the ride-hailing market and is also constrained by the difficulty in shedding its transformation label. It delivered 375,000 vehicles for the year, a同比下降of 21.9%.The high-end brand Hyper launched by GAC埃安, also failed to open up the high-end market as expected, with annual sales reaching only 15,600 units.Only GAC Trumpchi saw a 2% increase in sales, delivering 415,000 vehicles for the year. Moreover, Hycan, a new energy vehicle brand in which GAC Aion holds a 25% stake, has also been officially confirmed by GAC to cease operations at the beginning of this year.Joint venture cars and self-owned brand new energy vehicles are both losing momentum. GAC's sales volume in the domestic market last year could almost be described as being caught between a rock and a hard place.On the bright side, GAC has made smooth progress in overseas markets, especially with its own brands.In 2024, GAC exported 127,000 vehicles, an increase of 67.6% year over year. Among these, its自主品牌 (self-owned brand) broke through the 100,000 mark for the first time, surging by 92.3% year over year, accounting for 83% of the total export volume.GAC's 490 outlets across 74 countries worldwide generated revenue of 11.74 billion yuan in 2024, a year-on-year increase of 112.6%. The overseas gross profit margin reached 14.72%, significantly higher than the company's overall margin of 3.85%.This is because GAC's main models, such as Aion and Trumpchi, have reduced costs through local procurement of low-cost parts and direct production in local factories, while enjoying higher premiums in overseas markets, jointly contributing to this relatively high level of gross profit margin.In 2025, GAC plans to introduce 4 new models based on this foundation,开拓13 new countries and 200 new outlets, making a push for an ambitious target of exporting 180,000 vehicles annually. (Note: There appears to be a missing word in the original Chinese text, likely "open" or "expand to", which is translated as "开拓" in the context of opening up or expanding into new markets.)Faced with such a financial report and market pressure,冯兴亚, who has just taken over from 曾庆洪 and has been in office for just over a month, provided the annual sales guidance:GAC plans to deliver 2.3 million vehicles for the whole year, increasing by 15% over 2024.In the incremental market of China's automotive industry, this growth rate is not difficult to achieve, but the prerequisite is that GAC can find a breakthrough for sales growth this year. Especially in 2024, a year when new forces in the auto industry are soaring, GAC has not told a particularly compelling story in the new energy sector.Perhaps the three-year "Panyu Action" is proof of GAC's determination to transform into new energy without turning back.How to do it specifically?"Three-year 'Panyu Action,' embracing Huawei again"GAC has already revealed its trump card.The specific focus should start with the "Panyu Action," which is a three-year transformation plan initiated by GAC at the end of 2024.The core goal is to restructure the proprietary brand, enabling it to achieve a production and sales scale of over one million units and advance towards a scale of two million units.The reason it is called "Panyu" is that Panyu is the core area of GAC's independent brands, gathering the factories, research institutes, component industrial bases of Trumpchi and Aion, as well as the GAC Intelligent Connected New Energy Vehicle Industrial Park.GAC even moved its headquarters from Guangzhou CBD to Panyu, just to let "those who hear the gunfire" make decisions.This year marks the inception of the "Panyu Action." Feng Xingya stated that the集团将在“番禺行动”指引下，深化“智行 2027”行动计划——It seems there is a part missed in your text. However, the direct translation of the provided sentences would be:This year marks the beginning of the "Panyu Action." Feng Xingya said that the Group will deepen the "Smart Travel 2027" action plan under the guidance of the "Panyu Action."GAC will enter the top tier of intelligent driving product levels in China by 2025; by 2027, it will join the global top tier in both intelligent driving product levels and RD capabilities.This is both GAC's "ambition" for future layout and the long-awaited result of GAC's years of planning.From the perspective of intelligent driving strategy, GAC is playing the long game, having laid the groundwork for a comprehensive path from L2 to L4.GAC has launched its latest intelligent driving system, "Xingling Zhixing," which serves as the foundation for its comprehensive strategic layout."Star Spirit Intelligence" is actually the 6.0 version of the ADIGO system. After the update, the biggest difference from the past is that the algorithm has changed from a rule-driven segmented architecture to an end-to-end architecture.Based on its new intelligent driving system, GAC has divided the L2 to L4 levels into five product platforms, with computing power ranging from 70 to 2000 TOPS.At the L2+ level, the focus this year will be on achieving the goal of entering the first tier in China.Among the five platforms, G100, G200, G300, and G700 all offer corresponding solutions. Among them, G100 and G200 support high-speed NOA and urban commuting navigation, which is urban NOA on fixed routes.G300 supports urban NOA, while G700 achieves "from parking space to parking space" with the help of VLM.The highest level G1000 is suitable for L3/L4 architecture, and the algorithm is based on a visual language model combined with a world model.At the L3 level, GAC plans to launch the country's first L3 autonomous driving mass-produced vehicle by the end of this year, the Haobo HL, which will support urban NDA (Navigation Assisted Driving).By 2026, GAC will accelerate the mass production and implementation of L3, covering more high-end models, and plans to first achieve widespread adoption in the ToB sector (such as the祺出行 platform).At the L4 level, GAC will deliver its first pre-installed mass-produced L4 vehicle this year; additionally, GAC has experience and a foundation in ride-hailing services and will become China's first automaker to achieve large-scale L4 operations next year.By 2027, GAC will launch L4 level autonomous cars for individual users.The three lines chasing the process of intelligenceization face tasks that are both urgent and daunting. Relying solely on self-research and development is no longer feasible within the time constraints, which is why we often see investment and cooperation moves by GAC in recent times.Part of it involves collaboration with the supply chain, such as adopting computing solutions from NVIDIA, Horizon, and Qualcomm to support the computing power requirements of the G1000 platform.Part of it involves establishing connections with tech giants, jointly developing the underlying models with Tencent, building a global hybrid cloud platform, and creating an "end-to-cloud" integrated autonomous driving lightweight map solution.There are also more in-depth collaborations, such as the joint venture, Xinghe Intelligent Connectivity, established by GAC and iFlytek in 2020, focusing on the research of smart cockpits applied in models like the Hyper GT; as well as the joint venture, Andi Technology, set up with Didi last year, from which the L4 mass-produced model this year originates.And once again, embrace Huawei.Almost simultaneously with the announcement of the shutdown of Xuanjiao Automobile, GAC announced that it had approved a proposal for cooperation with Huawei on the GH project, revealing plans to invest 1.5 billion yuan. The two parties will work together in an office setting, and the first vehicle is positioned as a luxury smart new energy vehicle in the 300,000 yuan price range.Not long ago, Huawang Auto, a new company with an investment of 1.5 billion yuan, was officially established. Its new models will be equipped with Huawei's intelligent driving software, intelligent cockpit, intelligent vehicle control and other solutions, becoming another "believer" in Huawei's car-making lineup.After all, there are already quite a few successful cases ahead. Even Chang'an, which did not become one of Huawei's "realms," has achieved remarkable transformation results among traditional automakers through its investment in Yinwang, cooperation in the HI model, and the leadership of technical expert Tao Ji.GAC's 1.5 billion "tuition fee" may not be paid too late after all.One More ThingRecently, the long-silent Evergrande Auto suddenly saw its stock price soar by over 230%.There were rumors that "the GAC and Huawei project will be located at the former Evergrande Auto Guangzhou factory," and "the GAC Group Huawang (GH) project will acquire Evergrande Auto's Nansha factory."However, GAC quickly released an announcement refuting these claims, stating that they had not been in talks regarding any acquisition. As a result, the surge in恒大汽车's stock price immediately receded.On the other side, completely opposite to this scene, Huawei has just released its 2024 financial report.The revenue from the intelligent car solution business was 26.35 billion yuan, a year-on-year surge of 474%.Although it only accounts for 3% of Huawei's total revenue, the amount Huawei earns from helping others build cars is nearly enough to match half of a new car manufacturer's income.

Journey through China's auto industry news, as reported by foreign media, Cao Li, the senior vice president of Zero Auto, stated that the company plans to launch models equipped with its intelligent driving technology in Europe next year. This marks the first time a Chinese automaker has explicitly set a timeline for the deployment of advanced driver-assistance systems overseas. This move comes at a crucial time when various car manufacturers are vying for an edge in the fiercely competitive electric vehicle and long-range hybrid vehicle market.Cao Li stated that Leapmotor will also establish a research and development team in Europe, focusing on training autonomous driving system algorithms based on local road data, but did not disclose the specific office location of the team. He said, "I believe the biggest challenge lies in the differences between overseas road conditions and traffic regulations compared to China. We need a large amount of data and an understanding of local regulations to conduct adaptive training tailored to the local road conditions."Leapmotor B10; Image source: Leapmotor AutomotiveIn early March, Leapmotor launched pre-sales for its B10 SUV in China, with a starting price of 109,800 yuan (approximately $15,115). The version equipped with lidar and urban navigation features starts at 129,800 yuan (approximately $17,870).Leap Motor plans to upgrade its new B10 model with urban navigation autonomous driving features through an over-the-air (OTA) software update by the end of this year. Cao Li stated that this function is "equivalent to the traditional definition of Level 3 autonomous driving."However, Cao Li stated that the OTA upgrade for B10 still needs to be approved by the Ministry of Industry and Information Technology of China. According to the new regulations, OTA upgrades related to autonomous driving must obtain regulatory approval. "We need to apply for approval at least one or two months in advance," he added.Cao Li also revealed that the second model of Leapmotor's "B series" will be unveiled at the Shanghai Auto Show in April.In 2023, Stellantis invested $1.6 billion in Leap Motor and acquired a 21% stake, with both parties establishing a joint venture called "Leap International," in which Stellantis holds a 51% stake. According to reports, the two companies are inclined to start producing the B10 model for the European market in Spain starting next year.As Leap Motor accelerates its layout of intelligent driving models in Europe, it coincides with Chinese car companies, led by BYD, competing to launch affordable electric vehicles equipped with highway autonomous driving and parking assistance features. Zeekr and Xpeng have also announced plans to sell L3-level autonomous driving models.It is reported that Level 3 autonomous driving not only allows the vehicle to drive itself but also permits the driver to release the steering wheel, requiring the driver to take over whenever the system prompts. In contrast, Tesla's current system and other Level 2 autonomous driving features still require the driver to keep their hands on the steering wheel.

Gaishi Automobile News, according to foreign media reports, the Vietnamese Ministry of Finance recently proposed a plan to reduce import tariffs on a range of products, including automobiles, liquefied natural gas (LNG), timber, and agricultural products. The tariffs on certain types of automobiles will be reduced from a range of 45% to 64% down to 32%. This move aims to avoid potential tariff measures that the United States may impose on Vietnam.According to a statement from the Vietnamese Ministry of Finance, the revised decree on the adjustment of most-favored-nation tariffs is expected to be released in March. The statement noted that this revised decree is "to respond to the complex and challenging global geopolitical and economic situation."predictThe development and changes," as tariff policies "greatly" impact the economies of countries worldwide, including Vietnam.Image source: VinFastVietnam has been striving to strengthen its trade relations with the United States and to convince the Trump administration that Vietnam is seriously addressing its trade surplus with the U.S. In 2024, Vietnam's trade surplus with the U.S. expanded to $123.5 billion, making it the third-highest trading partner with a trade surplus with the U.S., after China and Mexico.Earlier in March, during a visit to the United States by Vietnam's Minister of Trade, Vietnam announced provisional agreements worth $4.15 billion with American companies. Vietnam also stated that it is considering removing trade barriers and combating export fraud to improve trade relations with the United States.The background of this series of measures is that U.S. President Trump has pledged to make a statement on tariffs on April 2, calling it the "Liberation Day" for the U.S. economy. Trump aims to reduce the global goods trade deficit of $1.2 trillion by raising U.S. tariffs to levels equivalent to those of other countries and addressing non-tariff trade barriers imposed by other nations.However, outside the U.S., Vietnam has also announced a series of adjustments to import tariffs on other car exporting countries. According to the latest policy, starting in 2025, Vietnam will reduce import tariffs on luxury cars from regions such as Europe and Japan.The EU-Vietnam Free Trade Agreement (EVFTA) shows that starting January 1, 2025, Vietnam will reduce the import tariffs on cars from EU member countries such as Germany, France, Italy, and the Czech Republic from the previous 39%-42.5% to 31.2%-35.4%. At the same time, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also stipulates that Vietnam will lower the import tariffs on complete vehicles from Japan and the UK from 42% to 35%.

The United States recently announced a 25% tariff on all imported automobiles, effective from April 3, covering imported passenger vehicles (such as sedans and SUVs) and light trucks, as well as key automotive components (including engines and transmissions). The measure may also be extended to other parts if necessary.In response, Toyota Motor and Hyundai Motor, among other automakers, have commented. Toyota Motor stated that it will continue to maintain its existing operational model, strive to reduce fixed costs, and temporarily will not increase the prices of vehicles sold in the U.S. market.Honda Motor plans to ship as many vehicles to the U.S. as possible before the tariffs take effect. It says it's now trying to figure out what price increases consumers will accept for its various models, and is still planning to review its production base and export markets.Hyundai has issued a warning to its U.S. dealers and stated that it is evaluating its pricing strategy in response to the upcoming 25% tariff on imported cars and parts in the United States. Randy Parker, the CEO of Hyundai and Genesis North America, mentioned in a notification to dealers that it cannot guarantee the current vehicle prices, and wholesale prices for vehicles after April 2 may be subject to adjustment.

On the night of March 29, the Xiaomi SU7 Standard Edition involved in a collision and explosion on the Chiqi section of the Deshang Expressway in Anhui, resulting in 3 deaths, has pushed Xiaomi Motors into the spotlight of public opinion.This incident has not only raised market concerns about the safety hazards of Xiaomi Auto, a new entrant in the electric vehicle sector, regarding battery, chassis design, and safety issues in the intelligent driving system under extreme scenarios, but also sparked consumer doubts about the differences in safety features between the standard and base models of Xiaomi Auto compared to the Max and Ultra high-end models.Question 1: Is there a difference in battery safety between the standard and high-end versions?The market is generally concerned about whether the power battery of the involved vehicle has safety risks. On the morning of April 2, Xiaomi customer service responded that the Xiaomi SU7 is divided into standard, Pro, and Max versions, with the standard version equipped with BYD Blade batteries.宁德时代 CATL(249.140, 0.08, 0.03%)Batteries, two different types of batteries are randomly installed, and the car buyer cannot choose when purchasing the car.However, the explanation clearly fails to dispel market concerns.It is understood that the accident vehicle is the Xiaomi SU7 standard version, equipped withBYD(360.500, -5.00, -1.37%)The 73.6kWh lithium iron phosphate battery produced by BYD Power has a battery pack shell compressive strength of 1500MPa, which is lower than the 2000MPa of the high-end version of CATL's battery.Not only that, the standard version of Xiaomi adopts BYD's CTP technology and does not come equipped with the "inverted cell technology" featured in the high-end version. The latter can, in extreme cases, direct high-temperature gases and flames downward for expulsion instead of allowing them to invade the passenger compartment upward, theoretically extending escape time.There is an analysis suggesting that the battery of the involved Xiaomi SU7 exploded and caught fire within 3 seconds after the collision, which may be related to the insufficient number of thermal insulation layers (aerogel) between the battery cells, as the standard version is only equipped with 14 layers of physical protection, while the high-end version has 17 layers.In addition, the standard version of the battery has an ordinary coating on the bottom, while the high-end version uses "bulletproof coating," with a 13-fold increase in puncture resistance, and the bottom protection is also different.Industry experts pointed out that the national standard only requires the battery system to not catch fire within 5 minutes after thermal runaway, but the actual high-speed collision scenarios far exceed laboratory conditions. If the battery pack leaks electrolyte due to mechanical deformation, it may still quickly cause an explosion.In this accident, the vehicle crashed into a concrete pile at a speed of 97 km/h, causing severe compression of the battery pack, which ultimately caught fire, highlighting the shortcomings of the battery protection design in the standard version of the Xiaomi SU7.Question 2: Is there a design flaw in the door lock mechanism?The families of the victims questioned whether the locked doors after the accident led to the failure to escape. Xiaomi officially responded that all four doors are equipped with mechanical emergency handles, located below the storage compartment, which can be used to unlock the doors in the event of a power outage.However, this explanation still failed to dispel market concerns.It is understood that the Xiaomi SU7 standard version is powered by a 12V low-voltage battery located at the front of the car. In the accident, the severe deformation of the front caused a short circuit in the power supply, resulting in a complete failure of the electronic unlocking function. In contrast, the Tesla Model 3 is equipped with a 48V lithium battery backup, providing an unlock time of up to 120 seconds. However, the standard version of the Xiaomi SU7 lacks a redundant power design, which may result in the doors being unable to unlock during an accident.At the same time, the mechanical door handle of the Xiaomi car is hidden at the bottom of the door storage compartment. It requires lifting the anti-slip mat and applying a force of 150N, equivalent to lifting a 15 kg object. The deformation of the storage compartment after a collision may make it difficult for most users to operate in time.Tsinghua University's collision tests show that when the door deformation exceeds 50mm, the success rate of operating the mechanical pull handle of the Xiaomi SU7 is less than 37%.Additionally, Xiaomi's sales process lacks sufficient instructions on the use of emergency devices. Multiple car owners have reported not receiving relevant safety training at the time of purchase, and the manual's explanation of the mechanical release handle is easily overlooked. During emergencies, this further increases the difficulty for panicked owners to escape.Question three: Does the low-equipped model's intelligent driving system fully consider safety factors?At the time of the accident, the Xiaomi SU7 standard version was in NOA (Smart Assisted Driving) mode, traveling at a speed of 116 km/h. Considering the differences in configurations, the market has also raised concerns about the safety of the intelligent driving systems in Xiaomi's lower-spec models.It is reported that the standard version of Xiaomi SU7 is only equipped with 11 cameras and 5 millimeter-wave radars, adopting a pure visual perception solution without LiDAR, relying on a single Nvidia Orin chip with a computing power of 84 TOPS.In contrast, the high-end Max version of the Xiaomi SU7 adds a LiDAR, adopts multi-sensor fusion, and is equipped with dual Orin-X chips with a computing power of 508 TOPS. Whether in terms of the quantity and type of sensors or the processing capability of the chips, there are significant differences compared to the lower-end version.The accident occurred on a construction site at night, further challenging the recognition capabilities of the pure visual solution.Currently, the national standard requires AEB to achieve a detection distance of 160 meters at a speed of 100 km/h, while the nighttime recognition distance of the visual solution is only 120 meters, issuing a warning only 2 seconds before a collision. The LiDAR solution, on the other hand, can reach over 200 meters. The Max version has also previously passed the AEB test for stationary obstacles at a nighttime speed of 120 km/h.Xiaomi has officially stated that the AEB function is only applicable to vehicles, pedestrians, and two-wheeled vehicles, and cannot respond to static obstacles on the road such as cones, stones, and animals. In addition, Xiaomi has collaborated with Waymo to develop an end-to-end neural network model that supports high-speed NOA, but its ability to recognize static obstacles is relatively weak.Previously, Tesla's Autopilot had experienced multiple static obstacle collision accidents in similar scenarios due to its pure vision solution. However, systems like Xiao鹏's XNGP and Huawei's ADS, which employ LiDAR solutions, have higher recognition rates. In fact, in this accident, the AEB of the standard version of Xiaomi SU7 did not clearly trigger emergency braking. After the driver took over, the braking was insufficient, which eventually led to the vehicle collision and casualties.Conclusion: Cost reduction and marketing should be moderate, and safety must not be compromised. It is undeniable that different products have different configurations at different prices, which is reasonable. However, in the case of passenger cars, which are closely related to personal safety, manufacturers should be especially cautious when deciding on the extent to which low-end models compromise on safety.If the aforementioned issue is ultimately proven, Xiaomi Auto, as a newcomer to the new energy vehicle market, may face a severe trust crisis. To regain its reputation, Xiaomi needs to promptly cooperate with relevant departments to publicly release the complete accident data and accelerate technological iterations, tilting its RD investments toward safety areas.It is worth mentioning that in 2024, Xiaomi's automotive business RD expenses reached approximately 9.6 billion yuan, a year-on-year increase of 68.4%, while sales expenses were about 5.1 billion yuan, a year-on-year increase of 75.9%, exceeding the growth rate of RD during the same period.For consumers, when choosing new energy vehicles, they need to rationally view the marketing gimmicks in the promotion and pay more attention to the safety configurations in actual scenarios, because safety is the foundation of everything.

On April 2nd, there was a notable movement in the PVDF concept, with Jinming Precision Machinery (300281.SZ) rising over 5% and Heimao Co., Ltd. (002068.SZ) rising over 6%. Yonghe Co., Ltd., Putailai, Sanmei Co., Ltd., and others also saw gains.Polyvinylidene fluoride (PVDF) is a high-performance thermoplastic polymer renowned for its exceptional chemical resistance, mechanical strength, and thermal stability. These properties make PVDF an ideal material for applications in harsh environments where other polymers may fail.According to a research report published by Research and Market, the global polyvinylidene fluoride (PVDF) market in 2023 is estimated to be 51,600 tons, and it is expected to reach 67,000 tons by 2030, with a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030.Currently, PVDF has become the second largest fluoropolymer after polytetrafluoroethylene (PTFE), possessing excellent properties distinct from other fluoropolymers represented by PTFE. It is mainly applied in three major fields: petrochemicals, electronics and electricity, and fluorocarbon coatings. Taking photovoltaic backsheet film as an example, PVDF films are safe, reliable, and have good corrosion resistance, making them the preferred material for photovoltaic backsheet films. Its application in this field has rapidly developed and gained widespread recognition.Jinming Precision Machinery stated as early as September 19, 2021, that the company can customize the design and production of PVDF film blowing machine units according to customer needs, and related products have already been sold. The PVDF films produced are mainly used in fields such as solar backplanes.Heihe Cat Co., Ltd. previously announced its plan to jointly invest with Lianchuang Co., Ltd. to establish "Inner Mongolia Lianhe Fluorocarbon New Materials Co., Ltd." in Uahu City, Inner Mongolia, where Heihe Cat Co., Ltd. will hold a 20% stake and Lianchuang Co., Ltd. will hold an 80% stake. The two parties will use the joint venture company as the main body to construct a 50,000 tons/year PVDF and supporting industrial chain project.In terms of performance, Black Cat Company mainly engages in the production and sales of carbon black, refined tar, and precipitated silica products, with over eighty percent of its revenue coming from carbon black products, making it the company's primary business product. As of the half-year report for 2024, Black Cat Company's operating income was 4.913 billion yuan, representing a year-on-year increase of 11.08%; the net profit attributable to shareholders was -544.836 million yuan, marking a year-on-year growth of 76.90%.Jinming Precision Machinery's main businesses include plastic machinery and film, with primary products such as intelligent film equipment, high-barrier functional flexible packaging films, bi-directional stretch films, and industrial big data platforms. According to the company's 2024 annual report, Jinming Precision Machinery's revenue was 474 million yuan, representing a year-on-year increase of 4.37%; net profit attributable to shareholders was 7.114 million yuan, up 5.93% year-on-year.At the same time, the product introduction of the ClassicX series on the Jinhui Precision Machinery official website clearly lists the PVDF film blowing unit. This series is a customized and high-capacity mid-to-high-end model launched by Jinhui Precision Machinery to optimize existing models. Based on standard configurations, it can be customized according to customers' actual production and processing needs and process conditions, meeting customers' high-quality production requirements for film uniformity control, film transparency, film stiffness and toughness, and film output.It is understood that the biaxially oriented film industry, where Jinming Precision Machinery is located, has extremely high requirements for resin materials and film processing equipment, as well as cleanliness standards in the processing workshop. Currently, most production capacity is concentrated among manufacturers in the United States, Japan, South Korea, and Taiwan. Jinming Precision Machinery seizes the opportunity of building a "special multi-functional smart factory project" to become one of the participants in the development of China's biaxially oriented film industry. By leveraging its advantages in the manufacturing of biaxially oriented film equipment, the company plays a leading and exemplary role in promoting intelligent production models for its downstream high-end film demand customers.Moreover, the intelligent film equipment products for agricultural, medical, and industrial applications successfully developed by Jinming Precision Machinery in recent years have achieved domestic substitution, breaking the long-term reliance on imports.

In the wave of global manufacturing transformation towards lightweight, green, and intelligent production, traditional materials are increasingly struggling to meet the dual challenges of material performance and environmental requirements in high-end sectors such as aerospace, automotive, and electronics. Resin composite materials, with their unique advantages of being lightweight and high-strength, corrosion-resistant, and highly designable, are gradually becoming a key force driving industrial upgrading. According to the latest report released by China Research and Intelligence Institute, "2025-2030 China Resin Composite Materials Industry Outlook and Future Trends Forecast Report》 shows that in the next five years, China's resin composite materials industry will usher in explosive growth in three emerging fields, and a blue ocean market worth hundreds of billions is waiting to be tapped.Dynamic Covalent Bond Regulation Type Recyclable Thermosetting Resin-based Composites: A New Ecology for Material RecyclingCore direction: Addressing the challenges of non-reprocessability and difficult recycling of traditional thermosetting resins, the scientific and industrial communities are actively exploring novel resin matrices based on dynamic covalent bonds (e.g., ester exchange bonds, disulfide bonds). These materials enable reversible reconstruction of molecular networks, achieving circular utilization throughout the entire lifecycle of processing, use, and recycling. This innovation provides a sustainable pathway for high-end manufacturing industries such as aerospace and automotive.In the aerospace industry, this material can be used to manufacture high-performance components such as engine covers and wing structures. Its recyclable properties will significantly reduce maintenance costs and minimize resource waste. In the field of automotive lightweighting, it can be utilized to produce body panels and chassis components, aiding in vehicle weight reduction, lowering energy consumption, and enhancing efficiency.Technical Challenges and Breakthroughs: The stability of dynamic keys and the balance of mechanical properties are key technical challenges. Currently, researchers are improving the material's comprehensive performance by optimizing crosslinking density and bond energy distribution. As reported by ResearchInChina's "Research Report on Industry Development Status of Dynamic Keys",2025-2030 China Resin Composites Industry Outlook and Future Trends Forecast ReportIt is predicted that with the continuous maturation of technology, the market demand for dynamic covalent bond-controlled recyclable thermosetting resin-based composites will continue to rise, becoming an important force driving the green transformation of the industry.Biobased epoxy resin flexible long-chain molecule design: Opening a new era of environmentally friendly materials.Core direction: Utilizing biomass raw materials such as plant oils and lignin to design bio-based epoxy resins containing flexible long carbon chain structures, aiming to replace traditional petroleum-based DGEBA materials. This innovation not only addresses the issues of high brittleness and environmental toxicity in conventional epoxy resins but also achieves end-to-end sustainability from source to application.Application scenario: The design of flexible long-chain molecules of bio-based epoxy resin materials shows broad application prospects in fields such as environmentally friendly coatings, food packaging composite films, and biodegradable electronic packaging materials. For example, in the food packaging field, its non-toxic, harmless, and degradable characteristics will effectively ensure food safety and reduce environmental pollution; in the electronic packaging field, it can meet the high insulation and low thermal expansion coefficient requirements of electronic products while achieving green production.Technological Breakthrough: By chemically modifying the ratio of rigid groups (such as benzene rings, furan rings) to flexible segments, researchers have successfully balanced the strength and toughness of materials. This technological breakthrough has laid a solid foundation for the large-scale application of bio-based epoxy resins. According to China Research and Consulting's "2025-2030 China Resin Composite Materials Industry Prospect Outlook and Future Trend Forecast Report》Analysis: With the increasing demand for eco-friendly products among consumers, the bio-based epoxy resin market is poised for explosive growth.3. Fatigue-resistant epoxy resin-based composites for low-altitude flying vehicles: Leading a new leap in the low-altitude economy.Core Direction: In response to the demand for lightweight and high fatigue resistance in low-altitude flying vehicles, researchers are focused on developing high-performance epoxy resin-based composite materials. By optimizing molecular structures (such as toughening with nanoparticles and enhancing interfacial bonding) and employing biomimetic layering design, the material's ability to withstand alternating loads is improved, providing safer and more reliable material solutions for UAVs and eVTOLs (electric vertical take-off and landing aircraft) and other low-altitude flying vehicles.Application scenario: In the field of drones, fatigue-resistant epoxy resin matrix composites can be used to manufacture key components such as the fuselage structure and wings, reducing the weight of the aircraft and improving flight efficiency; in the eVTOL field, they can be used to manufacture primary load-bearing components, ensuring the safe and stable operation of the aircraft under complex working conditions.Technical Barriers and Breakthroughs: The construction of fatigue life prediction models under complex working conditions is a difficult technical challenge. Currently, researchers are continuously optimizing model accuracy by combining multi-scale simulation and experimental verification to improve prediction accuracy. According to Zhongyan Pine China's ""2025-2030 China Resin Composite Materials Industry Outlook and Future Trend Forecast Report"It is predicted that with the vigorous development of the low-altitude economy, the market demand for fatigue-resistant epoxy resin-based composite materials for low-altitude flying vehicles will continue to grow, becoming an important driving force for technological advancement in the industry.Seize the trend and gain the upper hand.Zhongyan Puhua The given text is likely part of a larger title or reference, so only "中研普华" is translated here. If you need the full title translated, please provide the complete text."Outlook and Future Trends Forecast Report for China's Resin Composite Materials Industry from 2025 to 2030"It is believed that the next five years will be a golden period for the development of China's resin composite materials industry. The explosive growth in three emerging fields will drive the entire industry towards high-end, green, and intelligent development. Investors should closely monitor industry dynamics, grasp technological development trends, and actively invest in enterprises and projects with core competitiveness. At the same time, the government should increase policy support, promote deep integration of industry, academia, and research, accelerate the transformation of scientific and technological achievements, and provide strong guarantees for the healthy development of the resin composite materials industry.