On July 17, the Ministry of Finance and the State Taxation Administration issued the "Announcement on Adjusting the Consumption Tax Policy for Ultra-Luxury Automobiles" (referred to as the "Announcement"). After the adjustment, the scope of consumption tax for ultra-luxury automobiles is defined as "passenger cars and light and medium-sized commercial passenger vehicles with a retail price of 900,000 yuan (excluding value-added tax) and above, regardless of power type (including pure electric, fuel cell, and other power types)." This policy will be implemented starting from July 20. Is the pricing strategy of car manufacturers facing a major test? According to Xinhua Finance, a notification released in 2016 indicated that the tax category for "ultra-luxury automobiles" applies to "passenger vehicles and light and medium-sized commercial passenger vehicles with a retail price of 1.3 million yuan (excluding value-added tax) and above per vehicle." Previously, the "luxury car consumption tax is levied starting from 1.3 million yuan," which means it is imposed on invoices priced at 1.469 million yuan and above. After lowering the threshold, it will be levied on invoices priced at 1.017 million yuan and above. This means that new cars originally priced between 900,000 and 1.3 million yuan, with invoice prices ranging from 1,017,000 to 1,469,000 yuan, will be subject to a 10% luxury car consumption tax after the policy takes effect on July 20. In other words, the models originally priced between 900,000 and 1,300,000 yuan will see a significant increase in purchase costs after the policy is implemented. In this regard, industry insiders have stated that models such as the Mercedes-Benz S480, Land Rover Range Rover Vogue, and the base versions of Porsche Cayenne/ Panamera, which originally set prices to strictly adhere to price thresholds, have now been directly impacted. According to Xinhua Finance reports, in the market for new cars priced above 1.017 million yuan including tax, by brand classification, Mercedes-Benz holds a 48% market share with sales of 16,000 units; Land Rover occupies 23% of the market share with sales of 8,500 units; Porsche has an 18% share with sales of 6,800 units; Lexus accounts for 8% with sales of 3,000 units; and Bentley holds 3% of the market with sales of 1,100 units. Image source: Mercedes-Benz Weibo In addition, among domestic luxury cars, high-end models such as BYD Yangwang and Zun Jie S800 will also be affected, and the relevant car companies may need to adjust their pricing. For domestic luxury car brands, this is both a challenge and an opportunity. On one hand, these models may need to reassess their pricing strategies to cope with the cost increases brought about by consumption taxes. If they choose to raise prices, it may affect their appeal among price-sensitive consumers; if they do not raise prices, they will need to maintain profits through methods such as optimizing their cost structure. On the other hand, this also urges domestic luxury car brands to accelerate technology research and development and cost control, enhancing product added value and further improving brand competitiveness. Taking BYD as an example, with its strong foundation in new energy technology, if it can reasonably respond to the adjustment of consumption tax while maintaining product advantages, it will help it establish a foothold in the high-end market and promote the upward development of the brand. The used car market is. Additionally, it is worth noting that the new policy stipulates that no consumption tax will be levied on taxpayers selling used ultra-luxury cars, which undoubtedly provides a strong boost to the used car trade. For used car dealers, this will reduce the circulation costs of vehicles, improve the cost-performance ratio of the vehicles, and attract more consumers to choose to purchase second-hand ultra-luxury cars. For consumers who have a demand for ultra-luxury cars but have a limited budget, the second-hand car market will become an important option for them. In addition, the activity in the second-hand ultra-luxury car market will also have a certain spillover effect on the new car market. After experiencing second-hand ultra-luxury cars, consumers may develop a higher level of brand recognition, which could lead them to choose to purchase new cars in the future when they have the means, creating a positive cycle that promotes the healthy development of the entire ultra-luxury car market. In February this year, media reports from the China Automobile Dealers Association revealed that the cumulative transaction volume of second-hand cars in 2024 is expected to reach 19.6142 million units, a year-on-year increase of 6.52%, with a cumulative transaction amount of 1,285.205 billion yuan.   From the perspective of the segmented market, in 2024, the cumulative transaction volume of basic passenger cars in the second-hand market reached 11.3094 million units, a year-on-year increase of 3.79%. The transaction volume of second-hand SUVs in 2024 totaled 2.6409 million units, a year-on-year increase of 11.04%. The transaction volume of second-hand MPVs in 2024 was 1.2498 million units, a year-on-year increase of 9.50%. The transaction volume of crossover passenger cars in 2024 reached 474,000 units, a year-on-year increase of 31.40%. In terms of commercial vehicles, the second-hand transaction volume of cargo vehicles in 2024 was 1.5776 million units, a year-on-year increase of 5.37%, while the transaction volume of second-hand buses was 1.0864 million units, a year-on-year increase of 1.28%.   In terms of the used new energy vehicles, the total transactions of new energy used cars nationwide in 2024 reached 1.1285 million units, a year-on-year increase of 47.9%. Overall, the adjustment of the consumption tax policy for ultra-luxury cars is an important measure in the context of the automotive industry's transition to electrification and the upgrading of consumption structures. Although it will bring certain shocks to the ultra-luxury car market in the short term, in the long run, it is beneficial for promoting industrial upgrading, guiding reasonable consumption, and facilitating the sustainable development of the automotive market. Both car manufacturers and consumers need to actively adapt to this policy change and seek opportunities in the new market environment.

Due to the changing international trade rules, high inflation, and soaring interest rates, the average transaction price of new cars in the United States has risen to nearly $50,000 (approximately 360,000 RMB), continuously raising the threshold for consumers to purchase a car. In the face of this dilemma, automobile manufacturers are trying various methods to control costs and stabilize prices, with "simplifying configurations" becoming the most realistic survival strategy. From replacing manual air conditioning with automatic, using synthetic materials instead of leather for the steering wheel, to cutting high-end audio systems and reducing wheel sizes, the "configuration downgrade" comes in various forms. Tesla is pushing for the base model of the Cybertruck, removing standard features worth nearly $10,000 (about 72,000 RMB), replacing all-wheel drive with rear-wheel drive, swapping leather seats for fabric, canceling the rear touchscreen, and reducing wheel size from 20 inches to 18 inches. Mazda and Hyundai have both added or reintroduced entry-level models, while Mini has launched a limited edition "Oxford version," bundling core features and unique designs at a price several thousand dollars lower than the base model. The reduction strategy of car manufacturers is primarily to provide options for those consumers who want to buy a new car but have tight budgets (especially to avoid the risks of the second-hand market). The automotive industry market research organization AutoPacific's "Future Attribute Demand Study" (FADS) surveyed over 14,000 consumers planning to purchase a new car, revealing the core demands of the "pragmatic group" with budgets ranging from $25,000 to $35,000 (approximately 180,000 to 250,000 RMB). "Subtraction" takes the lead: luxurious features give way, basic functions rise to prominence. Research has found that for this group of "budget-conscious" buyers, beautiful and luxurious seat interiors, exaggerated and flashy exterior kits, and immersive cockpit technology are not as important. Instead, front-wheel drive, basic audio systems, fabric seats with various manual adjustment functions, and traditional mechanical or analog instrument panels are what these buyers truly favor. It can be said that extravagant upgrades are no longer favored, and "just enough is good" has become the guiding principle. However, when it comes to safety features, the "pragmatists" firmly regard them as necessities. Whether it is passive safety (such as front and rear parking sensors, with demand around 29%-32%) or active safety (such as rear cross-traffic alert with automatic braking, with demand around 30%-32%), the demand from "pragmatists" is not significantly different from that of buyers with higher budgets. For "popular" advanced driving configurations, such as high-level assistance systems that can "take over" driving tasks (like adaptive cruise control with lane centering), the interest of the "pragmatic" group is significantly lower than that of the higher-budget group, by about 6%-7%. In the "Top 10 Most Desired Car Features," the needs of the "pragmatic" buyers and potential buyers with a budget over $35,000 are almost the same, but the rankings differ. For example, about 34% of "pragmatic" buyers want a sunroof/panoramic sunroof, ranking it 6th on their list of needs, while buyers with a higher budget are more focused on features like driver's seat memory, 110V power outlet inside the car, and rear window sunshades. AutoPacific's Product and Consumer Insights Manager, Robby DeGraff, believes that in the face of economic uncertainty, automakers need to reassess the standard equipment lists for models in the price range of $25,000 to $35,000. Eliminating some non-essential high-cost features can better meet the limited budgets and core needs of the target audience. "The Ideal Vehicle of the Pragmatists" AutoPacific believes that potential consumers purchasing new cars priced between $25,000 and $35,000 are primarily from the Millennial generation (31%) or the Baby Boomer generation (29%), with a median household income of around $50,000. Over half (57%) are women. They mostly live in suburban areas and are childless families. More than a third (35%) are first-time buyers/leasers of new cars. They are relatively conservative and practical, focusing on fixed expenses such as monthly payments. The average daily driving distance is below 32 kilometers, primarily for commuting, long-distance driving, leisure driving, and highway conditions, with daily usage involving pets and one adult passenger, while the rear seat usage is low. For the "ideal vehicle," the "practical crowd" has a higher acceptance of sedans and prefers mature and reliable gasoline engines. Although 88% of them already own gasoline vehicles, only 20% of respondents hope that their new car will be a hybrid model, and 5% would choose a pure electric vehicle. Regarding vehicle appearance, they reject LED welcome lights, glowing brand logos, or oversized glass sunroofs; in terms of interiors, fabric seats and manual adjustments are their preferred choices. The cabin layout emphasizes practicality over design, requiring the retention of physical buttons or knobs, and is equipped with traditional instrument panels and appropriately sized central control screens. Due to their habit of using mobile connectivity, there is no strict requirement for built-in navigation systems. The "pragmatic faction" believes that features such as heads-up display (HUD), high-end brand audio systems (Bose, Harman Kardon, etc.), and in-depth connectivity services that require additional subscription fees are "dispensable" options; while wireless charging pads, front seat heating/ventilation, universal 110V power outlets, driver's seat memory functions, and some active safety features (such as rear cross-traffic alert with brakes, rear automatic braking, lane-keeping assistance, and rain-sensing wipers) are "desirable but not essential" options. Ed Kim, President and Chief Analyst of AutoPacific, stated that in the current economic environment, ensuring the "practicality" and "affordability" of entry-level and mainstream mid-range models is crucial for establishing long-term relationships with price-sensitive consumers. However, automakers still need to upgrade configurations across all model levels and provide high-end features, which will help guide entry-level buyers towards upgrading to higher-end models in the future. The different logic of China's "basic models" When American car manufacturers and consumers seek a balance in "downgrading" features, the approach in China’s 180,000-250,000 yuan (corresponding to the 25,000-35,000 USD range in the U.S.) market is completely different. In the Chinese market, the 180,000-250,000 yuan segment is the core battlefield for A+ class sedans, mainstream compact/mid-size SUVs, and some high-cost performance new energy vehicles (especially hybrids). The competition is extremely fierce. Car manufacturers are putting in significant effort to offer consumers more and "higher-end" configurations. Moreover, Chinese consumers have a noticeably stronger basic demand for "technological feel" and "smart connectivity," so even the "base models" in this price range almost universally come with large screens, basic intelligent driving features (such as ACC + AEB), 4G connectivity, and mobile app control, which have become almost standard or highly anticipated items. This stands in stark contrast to the minimalistic style indicated by American research, which shows a preference for "analog instruments + buttons + no navigation." At the same time, this price segment is the main battlefield for China's new energy vehicles, especially plug-in hybrids and range extenders. In addition to providing basic range and power performance, car manufacturers often aggressively equip smart cockpits and driving assistance features as standard to form core competitiveness. Therefore, for Chinese consumers in this price range, practicality, reliability, and high cost-performance ratio are fundamental. Simply "reducing configurations and lowering prices" have limited appeal; it is also necessary to highlight the brand's core values: a reliable powertrain system, practical space, a rich and useful configuration, good reputation, and after-sales service. They not only need "visible benefits" but also "usable configurations." The uncertainty in the global automotive market is driving car consumption to return to rationality. Whether in the United States or China, the "pragmatic" group in the price range of $25,000 to $35,000 (180,000 to 250,000 RMB) is crucial. Their pursuit of "practicality," "reliability," and "high cost-performance ratio" is core. However, there are significant differences in the definition and expectations of the "basic model" between American and Chinese consumers—Americans tend to favor a minimalist practicality of "good enough," while the Chinese demand a balanced sense of value that includes "practicality above all, with technology and features not to be lacking." Automakers need to deeply understand the unique needs of local target users and find a delicate balance that aligns with local market logic between controlling costs and providing core value. In the Chinese market, the competition around the value of "basic models" is particularly intense, and the outcome will profoundly test automakers' insight into and ability to meet the real needs of local consumers. Those who can create a high-value "cost-performance king" that truly meets the demands of the "pragmatic" segment will be able to win valuable market share and user loyalty in a challenging market environment.

International News Guide: Raw Material News - EU to Establish Critical Chemical Alliance to Safeguard Supply Chain Security Automotive News - China and the EU Agree to Establish a Working Group to Cooperate on Cross-Border Data Flow in the Automotive Sector Electronic News - SABIC Launches First Flame-Retardant PBT Nano Injection Molding Material with Excellent Bonding Strength and Mechanical Properties Packaging News - German associations push for mandatory compostable produce bags Medical News - Sengkang General Hospital in Singapore Adopts 3D-Printed TPU Materials to Customize Orthotic Insoles for Diabetics Macro News - US Imposes Anti-Dumping Duties on Chinese Graphite Price information - RMB/USD Central Parity Rate Reports 7.1498, Down by 37 Pips    details of international news:   1. Escalation of Retaliatory Measures! EU Continues to Pressure the US According to two officials who were briefed on the talks, the EU is preparing a list of possible tariffs on US services and export control measures as part of potential retaliatory actions if trade negotiations with Washington fail. In response to US President Trump's tariffs, the European Commission is compiling this list of measures, which still needs to be submitted to EU member states. Trump has announced that he plans to impose a 30% tariff on the EU bloc starting from August 1. Although Brussels had previously warned that it could expand the transatlantic trade war to services if negotiations to avoid these tariffs fail, it has so far not submitted specific measures to European capitals. One of the officials emphasized that the list will not only target US tech companies. This list will be an additional measure beyond the retaliatory proposal already being discussed by EU countries targeting 72 billion euros of annual US imports, which includes tariffs on Boeing aircraft, automobiles, and bourbon whiskey. 2. EU to Establish Critical Chemical Alliance to Safeguard Supply Chain Security The EU's executive body stated that the European Commission will work with member states and the chemical industry to support the production of chemicals identified as crucial to Europe's industrial supply chains. The European Commission said it will establish a Critical Chemical Alliance later this year, which will bring together the Commission, member states, and various stakeholders as part of a broader plan to revitalize Europe's chemical industry. In a statement, the Commission said the alliance will "identify key production sites in need of policy support and address trade issues such as supply chain dependencies and market distortions". This initiative draws on another alliance established earlier, which is responsible for identifying metals and minerals crucial to the energy transition. Subsequently, the EU set mining, processing, and recycling targets for 17 strategic materials. 3. Agilyx Acquires 44% Stake in Europe’s TopPlastic RecyclerGreenDot Global Agilyx acquires 44% of GreenDot, expanding into Europe’s recycling market and strengthening its global advanced plasticsrecycling platform. 4. Turkey: Anti-Dumping Measures on China-Related Polyethylene, Polypropylene Waterproof Tarpaulins and Polymer Plastic Products to Expire Soon According to the China Trade Remedy Information Network, on July 16, 2025, Turkey's Ministry of Trade issued Announcement No. 2025/15, stating that anti-dumping measures on polyethylene and polypropylene waterproof tarpaulins and polymer plastic products [Turkish: Polietilen ve polipropilenden mamul şerit veya benzerlerinden dokunmuş mensucat (yalnız dokuma brandalar)] originating from China and Vietnam will expire on May 6, 2026. Stakeholders should submit applications and evidence materials for sunset review investigations no later than 3 months before the expiration date. The Turkish tariff codes for the products are 3921.90.60.00.11, 3921.90.60.00.13, and 3926.90.97.90.18. The announcement takes effect from the date of issuance. 5. SABIC Launches First Flame-Retardant PBT Nano Injection Molding Material with Excellent Bonding Strength and Mechanical Properties SABIC announced the launch of a new product in its LNP™ THERMOTUF™ specialty composite series. The new LNP™ THERMOTUF™ WF0087N composite is the industry's first polybutylene terephthalate (PBT)-based nano-molding technology (NMT) material, combining excellent flame retardancy and superior mechanical properties. It meets the growing demand of the consumer electronics industry for lightweight and durable metal-plastic composite components, such as smartphone middle frames. In addition, the material's flame retardancy helps customers comply with the latest IEC 62368-1 safety standards for consumer electronic equipment. The LNP™ THERMOTUF™ WF0087N composite won the 2025 Edison Award. 6. Messe Düsseldorf unites its global plastics, rubber events under K-Alliance brand Germany-based global exhibition organizer Messe Düsseldorf is launching a new umbrella brand called “K-Alliance” to unite its worldwide plastics and rubber trade fairs under one identity, which replaces the previous Global Gate brand. “Global players in the plastics and rubber industry require appropriate platforms for direct market entry in growth regions,” said Thomas Franken, director of K. “Messe Düsseldorf has pooled its worldwide activities under the Global Gate brand, which will now become the K–Alliance.” Officials said the new name highlights not just market access but also strategic partnerships and alliances within the industry’s global trade fair network. “The previous name especially emphasized Messe Düsseldorf’s function as a door opener for entering promising sales markets,” Franken said. “The designation K-Alliance now places a clearer focus on the strong partnerships and alliances that our constantly growing, worldwide network of trade fairs related to plastics and rubber stands for.” The K-Alliance currently encompasses 11 global trade fairs, the biggest of which is the K fair; K 2025 is scheduled for Oct. 8-15 in Düsseldorf, with more than 3,200 exhibitors expected to showcase technologies in manufacturing, processing and finishing. 7. German associations push for mandatory compostable produce bags Industry associations are calling for compostable fruit and vegetable bags to become mandatory under the Packaging and Packaging Regulation (PPWR).The IK Industrial Association for Plastics Packaging, Plastics Europe Germany, European Bioplastics, Polykum, Carmen, and the nova Institute have published a position paper providing recommendations for Germany to implement the requirement at national level. 8. China and the EU Agree to Establish a Working Group to Cooperate on Cross-Border Data Flow in the Automotive Sector On July 17 , the second meeting of the China-EU Cross-Border Data Flow Exchange Mechanism was held in Brussels. Wang Jingtao, Vice Minister of the Cyberspace Administration of China, and Sabine Weyand, Director-General of the Directorate-General for Trade of the European Commission, co-chaired the meeting. The meeting reviewed the positive progress made since the establishment of the mechanism, believing that the mechanism has played an important role in promoting China-EU cross-border data flow. The two sides had in-depth, pragmatic, and constructive exchanges on issues related to China-EU cross-border data flow, and reached broad consensus on further leveraging the mechanism under the principle of two-way reciprocity and promoting rule alignment, in light of the demands of enterprises from both sides. The two sides agreed to establish a working group to cooperate on cross-border data flow in the automotive sector. 9.Sengkang General Hospital in Singapore Adopts 3D-Printed TPU Materials to Customize Orthotic Insoles for Diabetics The podiatry team at Sengkang General Hospital in Singapore is pioneering an innovative approach to diabetic foot care. Currently, the team is producing 3D-printed custom orthotic insoles in-house. These insoles are 3D-printed using thermoplastic polyurethane (TPU). Preliminary results show that compared with traditional insoles (23% reduction in peak pressure, 40% improvement in pressure distribution), the new insoles can reduce plantar peak pressure by up to 28.5% and improve pressure distribution by 52.7%.   Overseas macro markets:   【Putin: Europe's Abandonment of Russian Natural Gas Has Negatively Affected Its Industry】 On the 17th, Russian President Vladimir Putin stated in an interview that Europe's decision to abandon Russian natural gas has had a negative impact on its industry. In addition, Russian media reported that EU imports of Russian oil in May hit a three-month high, indicating that some EU member states still rely on Russian oil. 【Alcoa: Tariffs Keep Increasing Production Costs】 According to Bloomberg, Alcoa, the largest aluminum producer in the US, stated that US tariff policies are continuously increasing the company's production costs, and due to the impact of tariffs, its US customers are paying more for aluminum. 【US Media: US Imposes Anti-Dumping Duties on Chinese Graphite】 According to Bloomberg, the US has imposed a preliminary anti-dumping duty of 93.5% on graphite from China. A statement from the US Department of Commerce noted: "The US Department of Commerce has preliminarily determined to impose a 93.5% anti-dumping duty on imports of key battery material graphite from China due to unfair subsidies for these materials." It is worth noting that the final ruling is expected to be made by December 5 【Reliance Industries' Market Value Grows by 40 Billion USD This Year】 Shares of India's Reliance Industries have significantly outperformed India's benchmark stock index this year, with the largest lead in five years. So far this year, shares of India's most valuable company have surged 22%, while the NSE Nifty 50 index has risen only 6% in the same period. Controlled by Asia's richest man Mukesh Ambani, Reliance Industries has increased its market value by 40 billion USD in 2025, accounting for nearly one-third of the market value growth of India's benchmark stock index.   Price information:   【RMB/USD Central Parity Rate】 The RMB/USD central parity rate was reported at 7.1498, down by 37 pips; the previous trading day's central parity rate was 7.1461, the previous trading day's official closing price was 7.1796, and the previous night's closing price was 7.1809. 【Upstream raw material USD market price】 Ethylene Asia: CFR Northeast Asia $820/ton; CFR Southeast Asia $830/ton. Acrylic Northeast Asia: FOB Korea average price is $740/ton; CFR China average price is $770/ton, up $5/ton. Propane: North Asia frozen cargo CIF price, propane $512-514/ton; butane $482-484/ton. The import price of South China frozen goods in August is as follows: propane 549-559 USD/ton; butane 520-528 USD/ton. The landed price of frozen goods in Taiwan is propane at 512-514 USD/ton; butane at 482-484 USD/ton. 【LLDPE USD market price】 Film: 860-910 USD/ton (CFR Huangpu); Injection molding: $950/ton (CFR Dongguan); 【HDPE USD market price】 Film: $920/ton (CFR Huangpu); Hollow: 855-860 USD/ton (CFR Huangpu); 【LDPE USD market price】 Film: $1070-1090/ton (CFR Huangpu); Coating: $1350/ton (CFR Huangpu) 【PP USD market price】 Average aggregation: 965 USD/ton (CFR Huangpu); Co-polymerization: 940-950 USD/ton (CFR Nansha); Membrane material: 1030 USD/ton (CFR Nansha); Transparent: $1,085/ton (CFR Huangpu); Pipes: 1160 USD/ton (CFR Shanghai).

Recently, many places across the country have been experiencing extremely high temperatures. If cars are parked outdoors, the temperature inside can reach outrageous levels. So the question arises, with the same car, the same environmental temperature, and direct sunlight, which color is the most heat-resistant? Recently, a blogger conducted a temperature measurement test. The test car selected was the Xiaomi YU7, which offers nine car paint colors: gemstone green, lava orange, titanium metallic, shadow blue, flowing gold pink, Danxia purple, deep sea blue, basalt gray, and pearl white. The sample size is large enough. The ambient temperature that day was 36℃, and the specific results are as follows (excluding lava orange): Emerald green: 68℃, the highest in the entire venue! Danxia Purple: 65.5℃, ranked second. Basalt ash: 60.7℃. Deep sea blue: 55.8℃. Titanium metal color: 50.7℃. Shadow blue: 45℃. Gold powder: 45℃. Pearl White: 35℃, the lowest in the entire field, a full 33℃ lower than the top-ranked Gem Green. Although the test is not very rigorous, as it only measured the temperature of the car's exterior, it can still indicate some issues. Generally speaking, dark car paint absorbs the most heat, especially black, which almost does not reflect visible light and infrared rays from sunlight, causing the body temperature to rise more noticeably. Data shows that the interior temperature of black vehicles is often 10-15℃ higher than that of vehicles with lighter paint colors. Correspondingly, light-colored car paints such as white and silver can reflect more light and have weaker heat absorption, making them the coolest, while colored car paints like red and blue have heat absorption properties that are between those of black and light-colored paints. Of course, if conditions permit, it is best to park in an underground parking lot during the summer, as this is the most effective way to prevent the temperature inside the car from becoming too high.

On July 18, news came that on July 17, Faraday Future's second brand, Faraday X, officially unveiled its first model - the FX Super One, and simultaneously opened C-end reservations with a deposit of $100 (approximately 718 RMB). This car is positioned as a pure electric mid-to-large MPV, offering a four-seat GOAT version, a six-seat version, and a seven-seat version, with the goal of achieving the first vehicle off the production line by the end of 2025. From the appearance, the design of the FX Super One is very advanced, featuring a large front grille design at the front. Moreover, this front grille is an integrated screen, which the FX brand refers to as "AI embodied intelligent life form." The roof is also equipped with lidar, giving it a strong sense of technology. At the rear, the FX Super One features a and provides vertically arranged LED light groups on both sides of the body, giving it a very stylish overall look. Inside the car, the FX Super One is also full of a sense of technology. The back seats of the four-seat GOAT version look very luxurious, equipped with zero-gravity seats, EAI OS cockpit, full-temperature zone refrigerator, and the EAI Driving system with full-scene perception intelligent driving configuration. The FX brand indicates that the FX Super One offers both pure electric and range-extended power systems, with all models equipped with electric four-wheel drive. As the first product of the FX brand, the FX Super One is defined as "First Class AI-MPV." According to information revealed in the official live broadcast of the FX brand in January of this year, FX Super One has now begun production preparations such as product testing and supplier bidding, and plans to roll out its first vehicle by the end of 2025. As of July 14, the total number of paid pre-orders for FX Super One B officially announced by FX has reached 4,100 units. At the brand level, FX aims to become the "Toyota" of the artificial intelligence electric vehicle (AI EV) market. Compared to the FF brand, FX will target a broader mass market, expected to cover a price range of $20,000 to $80,000.

  Image source: Lianhe Zaobao Chinese Network China is dumping graphite on US markets, and its exports of active anode materials to the US will be subject to an antidumping tariff of 93.5%, a representative from the US Commerce Department told Platts, part of S&P Global Commodity Insights, on July 17. The ruling is the second preliminary determination in the antidumping/countervailing duty investigation by Commerce into active anode materials from China that will be followed by a final determination at the end of the year.Although the ruling is preliminary, importers of anode material will begin paying the duty even before a final determination is made. Active anode materials that fall into this category include natural and synthetic graphite, as well as graphite within finished lithium-ion batteries. Graphite is the largest component in the anode of lithium-ion batteries used in electric vehicles and is usually a mixture of natural and synthetic materials. AAAMP, a coalition representing North America's graphite producers, initiated a petition with the Department of Commerce in December 2024, seeking a tariff as high as 920% on the grounds that China's state subsidies and artificially low prices are undermining the establishment of the industry in the US. AAAMP is comprised of Anovion Technologies, Syrah Technologies, NOVONIX Anode Materials, Epsilon Advanced Materials and SKI US. Commerce is also conducting a separate countervailing duty investigation of active anode materials from China, with a preliminary decision on the case resulting in an 11.5% tariff on China's synthetic and natural graphite. According to AAAMP calculations, the effective cumulative rate on China's active anode materials isnow 160% when adding in countervailing duty tariffs of 11.5% placed by Commerce in May, President Trump's blanket 30% tariffs on goods from China, and 25% Section 301 tariffs implemented by the US Trade Representative in 2024. The US does not mine natural graphite, according to the US Geological Survey, and in 2024, the country relied entirely on imports to meet its graphite requirements.

On July 18, it was reported from Hongmeng Zhixing that its Zunjie S800 model has surpassed 8,000 pre-orders within 50 days of its launch. Image source: HarmonyOS Intelligent Travel Previously, on June 30, Huawei's HarmonyOS Smart Mobility officially announced that the car's pre-orders exceeded 6,500 units in its first month of launch. According to reports, the Zun Jie S800, a product jointly developed by Huawei and JAC Motors, was officially launched on May 30. It offers four versions: Xinghui Zunxiang Edition, Xingyao Zunxiang Edition, Xinghui Xingzheng Edition, and Xingyao Xingzheng Edition, with corresponding prices of 708,000 yuan, 788,000 yuan, 818,000 yuan, and 1,018,000 yuan. Among them, the Xinghui Zunxiang Edition and Xinghui Xingzheng Edition offer two power options: pure electric and range-extended. It is reported that the vehicle achieved over 1,000 pre-orders within 1 hour of its launch, reached 1,600 pre-orders in 24 hours, surpassed 2,600 pre-orders in 72 hours, and accumulated over 5,000 pre-orders in 19 days. In terms of specific models, this vehicle is equipped with innovative smart electric doors that work in conjunction with millimeter-wave radar and solid-state lidar, enabling it to intelligently sense dynamic and static obstacles and automatically adjust the opening angle, with a maximum door opening angle of 77 degrees. It also features a smart welcoming light carpet. The new car's dimensions are 5480×2000×1542mm, with a wheelbase of 3370mm. In terms of configuration, this vehicle is equipped for the first time with the HUAWEI ADS 4 intelligent auxiliary driving system. The new WEWA technology architecture provides faster response times and a smooth lane-changing experience. Built on the industry's first self-developed intelligent digital chassis, the Tuling Longxing platform, it can predict bumps and curves, offering intelligent driving stable control assistance for tire blowouts, ensuring driving safety. In terms of power, the ZunJie S800 is equipped with HUAWEI DriveOne 800V high-voltage silicon carbide motors, with a maximum output power of 390kW for the dual-motor version and 635kW for the tri-motor version. The extended range version has a comprehensive range of 1333km, while the pure electric version has a CLTC range of up to 702km. In addition, according to the planning of Zunjie Automotive, the Zunjie S800 Pioneer plan was delivered on June 26, and other versions of the model will begin delivery in mid-August.

Collaborating with Chinese intelligent driving companies for research and development has become a popular path for luxury brands to catch up with assisted driving. 36Kr exclusively learned that BMW has reached a cooperation with Momenta to jointly develop driver assistance software based on AI large models, which will be applied to several domestic models, including the new generation. According to 36Kr, this set of assisted driving solution is specifically developed for the Chinese market and will support full-scenario, point-to-point navigation assist driving functions. In the future, it will be able to achieve cross-city transportation from parking out of a space, through urban areas, highways, and back to parking into a destination space. Before this, in the introduction on the BMW official website, the intelligent driving assistance systems of its models for sale only included functions such as active cruise control, steering assistance, eye-guided lane changing with speed limits, speed limit recognition, and automatic speed adjustment in certain scenarios. It does not yet support advanced functions such as highway on and off ramps and traffic light navigation. According to informed sources, by the end of 2024, a number of senior executives from BMW headquarters came to China to experience the assisted driving of local brands. After experiencing it, the executives realized that BMW's previous model of primarily conducting research and development in Germany while China was only responsible for localized functions had made it difficult to keep up with the development speed of Chinese brands. "So they reported to headquarters and decided to directly recruit high-level suppliers for assisted driving in China." At the beginning of 2025, BMW quickly launched a bid for its assisted driving project, with several domestic intelligent driving technology companies participating, including Liuzhou Zhihang and Yuanrong Qihang, among other popular assisted driving technology companies. Finally, Momenta won the bid for the project. Momenta is a Chinese autonomous driving company founded in 2016, which has invested in both production-level assisted driving and autonomous robotaxis. Currently, Momenta has established partnerships with over a dozen global automakers, with more than 100 mass-produced models. Before BMW, Momenta had also partnered with another German luxury brand, Mercedes-Benz, to jointly develop advanced driver assistance solutions in China. Today, advanced driver assistance has become a core demand in the Chinese market. On one hand, new car manufacturers like Li Auto and Xiaopeng have already fully rolled out their urban navigation assistance (Urban NOA), making it available nationwide. Yu Chengdong even publicly stated that HarmonyOS Intelligent Driving has achieved Level 3 autonomous driving capabilities, and everything is just waiting for the relevant regulations to be released. On the other hand, BYD's models equipped with high-speed navigation assistance (Highway NOA) have seen prices drop to below 100,000 yuan, while Leap Motor has reduced the minimum price of its models supporting urban NOA to below 130,000 yuan. This has allowed more lower-priced models to adopt advanced driver assistance, becoming another competitive point. The improvement of capability limits and the expansion of price boundaries have made the technological competition among car manufacturers increasingly intense. Brands lacking advanced driver assistance systems will find it difficult to achieve high-quality growth in the Chinese market. To cope with fierce market competition, collaborating with local suppliers and accelerating the implementation of functions is a key step taken by BMW. The partnership with Momenta is expected to enhance the competitiveness of the upcoming new generation models in the Chinese market, maintaining BMW's continuous growth momentum and market share. For a brand like BMW, which is known for its handling and performance, how to balance the brand's driving gene with intelligent driving has become a focal point of public attention. BMW's head of development, Frank, has publicly stated, "BMW will not sacrifice vehicle dynamics for the sake of 'letting go.' For example, our steering system still retains direct mechanical feedback rather than being purely drive-by-wire." In the upcoming new generation models that will apply the of the collaboration between BMW and Momenta, key aspects such as driving, braking, steering, charging, and energy recovery are integrated into a coordinated system. The assisted driving system can read the chassis data of BMW, allowing the vehicle to adjust the suspension damping hardness in advance during automatic lane changes and cornering, simulating the "precise feel" of BMW's handling. Currently, Chinese car companies generally pursue high levels of intelligence in driver assistance systems, but BMW still insists on prioritizing driving control. This philosophy is indeed unique. Enhancing assisted driving, BMW ensures the new generation models. The cooperation results between BMW and Momenta will be applied to domestic models on the new generation platform. The new generation is a series of models based on BMW's all-new electrification platform. In 2026, BMW will launch the first domestically produced model of the new generation, the iX3. The large cylindrical battery, 800V electrical architecture, and "Horizon Panoramic Display" system are highlights that BMW has developed for the new generation platform. With the support of new technologies, the range of new generation models will increase by 30%, allowing for a fast charge that adds 300 kilometers of range in just 10 minutes. This will be a key competitive advantage for BMW's electric vehicle models, but some new force brands have already achieved a charging time of 10 minutes for a range of 445 kilometers, and BMW needs more highlights. Collaborating with Momenta to enhance capabilities in the key area of assisted driving is a strong approach for BMW to boost the intelligent competitiveness of its new generation models. Currently, the domestic advanced driving assistance technology route has transitioned to an AI large model-driven end-to-end approach. Environmental perception, path planning, and vehicle control are integrated into a super-large-scale neural network, allowing vehicles to understand road conditions and make decisions in a manner close to that of human drivers. Compared to past rule-based assisted driving systems, end-to-end approaches can not only handle a wider range of road conditions but also continuously iterate from data to enhance system capabilities. The core of the collaboration between BMW and Momenta is to move from traditional rule-based approaches to AI-driven solutions. A BMW insider told 36Kr that BMW will officially begin engaging with Chinese advanced driving assistance suppliers in early 2024. "To achieve cooperation, first, the suppliers must meet our entry requirements and provide mature results and quotes for decision-making in Germany." At the end of 2024, after a test drive with the executive team, BMW finally made the decision to adopt technology solutions from local Chinese suppliers for their new cars, "They realized that the technologies developed in Germany can no longer keep up with the pace in China." BMW's competitor Mercedes-Benz has made the same choice, as the pure electric CLA long-wheelbase version, set to be launched in 2025, will also feature advanced driver assistance technology from Momenta. Collaborating with local suppliers has become a shortcut for foreign and joint venture brands to quickly catch up with the level of advanced driver assistance systems in the Chinese market. Extended range + high-level assisted driving, BMW is about to launch in China. According to foreign media reports, to address the issue of insufficient charging facilities in Europe, BMW is planning to restart its range-extended power system, with the first model to feature this system likely being the sixth-generation X5. At the same time, the second-generation X7 and sixth-generation X3 are also being evaluated for the feasibility of range-extended power configurations. However, the decision to restart the extended-range technology is expected to bring new development momentum to BMW China. Today, extended-range technology has become the growth engine of the luxury new energy market in China. In 2024, with the L series extended-range models, Ideal Auto's annual sales surpassed 500,000 vehicles. The Aito M9, developed in collaboration between Huawei and Seres, achieved annual sales of 158,000 units, surpassing the BMW X5 to become the sales champion among models priced above 500,000 yuan. Seres Vice President Kang Bo once revealed that 90% of Aito M9 users opted for the extended-range version. "We originally wanted to collaborate with Cyrus on range-extended vehicles, but the process has not gone smoothly," a person from BMW told 36 Kr. "Currently, the range-extended vehicle project is being handled by BMW's headquarters in Germany, and China is actively cooperating in the research and development. It is estimated that the earliest it can be launched is around 2027-2028." China is still BMW's largest single market today, with annual sales accounting for 30% of the global total, making it a major contributor to BMW Group's profits. The severe market environment has made BMW realize the importance of paying attention to the preferences of Chinese consumers, but as a luxury car manufacturer with a century-long history, BMW must also adhere to its baseline for verification and testing. Whether it is restarting the research and development of range-extended technology or collaborating with Momenta to develop a new driver assistance system, these are signals of BMW's active transformation. This century-old luxury car manufacturer has finally identified its direction amid fierce competition and has embarked on a new round of market and technological challenges.

According to foreign media reports, Ford plans to launch a new vehicle lineup in the European market starting in 2027, which will include hybrid and all-electric models. It is reported that Ford will take this opportunity to expand its passenger car product line in Europe. Image source: Ford Motor Company Christoph Herr, the head of Ford's German-speaking region, revealed to dealers that the company's global leadership has approved a long-term investment plan for the European market, focusing on the development of new hybrid and electric vehicle models. In an internal letter to dealers, Christoph Herr stated, "The Ford Motor Company's board has decided to continue investing in the development of new models to drive robust growth in the passenger car business in the coming years." Christoph Herr further explained that Ford will "invest in the development of multiple new models, some of which will be co-developed with partners and will use various powertrains, including hybrid and fully electric." However, he did not disclose specific information about the partners or the market positioning of the new models. Industry insiders speculate that Ford Motor Company may engage in deeper collaboration with Volkswagen Group. Ford's latest electric models, the Explorer and the Capri compact electric vehicle, are built on Volkswagen's MEB platform, which is also used for the Volkswagen ID.3 and ID.4 models. Reports suggest that Ford might develop an electric version of the Fiesta based on the new small MEB platform that Volkswagen will use for its upcoming ID.1 and ID.2 entry-level electric models. In 2023, Martin Sander, the head of Ford's passenger car business in Europe, stated that the company does not rule out using Volkswagen's technology platform to launch an all-electric replacement for the Fiesta. For Ford, an entry-level low-cost electric vehicle will be a core strategy for its return to large-scale operations in Europe. Additionally, Ford dealers are also looking forward to a replacement model for the Focus compact car. Ford is also likely to adopt a new software-driven electric vehicle platform in Europe, and the company is currently developing this platform in California, USA. Although this platform is primarily aimed at mid-size pickups at this stage, its highly flexible architecture is also suitable for developing small cars for the European market.

On July 18, it was reported that the 2025 New Energy Smart Vehicle New Quality Development Forum was successfully held in Changchun on July 15. This year's conference, themed "New Quality Leading Intelligent Innovation for the Future," invited leaders from relevant government departments, as well as experts from universities and representatives from enterprises to participate. Zhang Yongwei, Vice Chairman and Secretary-General of the China Electric Vehicles Hundred Forum, stated, "Currently, the global competition surrounding intelligence has fully unfolded. The penetration rate of L2 level assisted driving in our country has exceeded 50%, ranking the highest in the world. At the same time, the penetration rate of emerging technologies such as parking assistance driving in mid-to-high-end models has also exceeded 20%." He stated that China's automotive industry has achieved a leapfrog in electrification and a leading position in intelligence, but it still needs to consolidate its advantages. This means that in the Chinese automotive market, for every two new cars sold, at least one is equipped with L2-level assisted driving technology. Zhang Yongwei believes that the core competitiveness of the automotive industry is shifting from mechanical hardware to intelligence and AI infrastructure, with cross-industry integration becoming the core driving force for reconstructing the ecosystem. The period from now until 2030 is a key window for cultivating intelligent driving culture and popularizing low-level intelligent driving. Enterprises need to grasp the development goals and pace of intelligent vehicles to seize opportunities in global competition. Zhang Yongwei stated that the current core tasks for China's automotive industry include two phased goals: from 2025 to 2030, accelerate the popularization of assisted driving, expand the user base, and cultivate a culture of intelligent driving. At the same time, he emphasized that our goals should not be limited to the popularization of lower-level technologies; we must quickly propose development targets for L3 and higher-level autonomous driving. Countries and enterprises that are the first to achieve the application of L3 and above technologies will occupy a key advantage. Based on corporate dynamics, the years 2030 and the two or three years following may be a window period for L3 and L4 moving from pilot projects to large-scale applications.

Under the EU's ban on single-use plastic products (SUP) and China's "14th Five-Year Plan" promoting recycled plastics, the automotive and packaging industries are actively responding to the call for weight reduction and carbon reduction. They are developing products using innovative and recyclable materials, promoting sustainable development in the industry. EPP (expanded polypropylene) due to its excellentSeismic energy absorption, deformation recovery, heat resistance, chemical corrosion resistance, oil resistance, and thermal insulation performance.The widely used characteristics of EPP, such as lightweight, excellent cushioning performance, and recyclability, have found applications in automotive parts (such as bumpers, seat cores, trunks, and foot mats), furniture, and turnover boxes. As global attention to sustainable development continues to deepen, EPP manufacturers are also actively exploring the feasibility of applying recycled polypropylene (rPP) in EPP foaming. Challenge: Stability of recycled polypropylene quality 1 Characteristics requirements of EPP raw materials EPP products have strict requirements for raw material performance during the molding process, especially regarding the stability of foaming ratio and bubble size. Therefore, EPP producers typically require that the melting point fluctuation be controlled within ±0.5°C, and the melt flow index be stable between 8 to 10 g/10min. Recycling polypropylene quality stability Due to the numerous manufacturers of polypropylene products in the market, even similar products may have significant differences in raw material types, resulting in the quality of recycled polypropylene being difficult to meet the above requirements. Solution: Customized RD209APC Applied to Automotive Parts Driven by the circular economy and carbon reduction goals, Bolu has actively invested in the application development of recycled materials. In response to technical challenges from a well-known EPP manufacturer, Bolu, led by the packaging department, integrated company resources over three years, streamlining the entire process from raw materials to products, and ultimately developed RD209APC. Raw Material Quality Assurance Bolok collaborates with downstream customers in the packaging department to secure the source of PIR (Post-Industrial Recycled) materials and completes extrusion granulation and product testing at the Shanghai Lingang factory to ensure the stability of raw material quality. Confirmation of product specifications During the product development process, the Lingang factory coordinated different production lines multiple times, optimized the extrusion granulation process, and established key quality control points. Ultimately, RD209APC passed several rounds of batch production validation, meeting the strict requirements for melting point and melt flow index set by EPP manufacturers, and was successfully applied to automotive components for a well-known international brand. RD209APC has been successfully commercialized in internationally renowned automotive components, marking a solid step for Bolu in promoting the circular economy and the application of high-performance recycled materials.

The official announcement of six Model Ys has made NIO and Li Auto anxious. Last night, Tesla officially posted on Weibo: "Model Y L, see you in golden autumn!" accompanied by two pictures showing the side silhouette of the Model Y L and the rear car badge. At the same time, the new car has officially entered the Ministry of Industry and Information Technology directory. According to Tesla's usual practice, the Model Y L is likely to be launched directly on various official channels one day, without too much introduction. This is a six-seat pure electric SUV that appeared quite "laid-back" in its early promotion, yet it is capable of making competitors entering the pure electric six-seat SUV market in 2025 take it very seriously—because it is Tesla, and it is the absolute blockbuster in the 250,000 yuan pure electric SUV segment. Once the Model Y L was unveiled, within two and a half hours, Li Xiang, Shen Fei, and Li Bin successively retweeted this Weibo post to promote their own pure electric six-seat SUVs. Although they did not directly "declare war" against each other, their restrained statements were filled with a sense of competition, as if to say "The refreshed Model Y, feel free to compare." This time, do NIO and Ideal have the capability to compete head-to-head with the Model Y L? This week's benefits:Dialogue box reply【Power on】 You can participate in the lottery for physical prizes. Narrow Road Encounter - Ideal i8 The Model Y L has already lit up, so who will compete with the Model Y L? Its competitors know best. Li Xiang was the first to retweet Tesla's official Weibo post, calling the Model Y L a "six-seat pure electric SUV worthy of respect." He called on users in the 200,000 to 300,000 yuan price range to "look forward to" six-seat pure electric SUVs, and also promoted his own five-seat pure electric SUV, the Li Auto i6. People's focus on these words, besides interpreting whether "the six pure electric SUVs worth respecting" has any implications, also includes debating Li Xiang's pricing range for the Model Y L. The current Model Y has a starting price of 263,500 yuan for the single motor version, while the dual motor version is priced at 303,500 yuan. According to convention, the higher-positioned Model Y L will set a price above 300,000 yuan. There are also informed sources who have stated in media interviews that the estimated price of the new car will be around 400,000 yuan. Some netizens believe that Li Xiang is guiding people to position the price of the Model Y L in the "200,000-300,000 yuan range," but others refute this by saying that Li Xiang is referring to the i6, which will be launched in September, rather than the Model Y L. This year, the ideal pure electric SUV competing with the Model Y L is undoubtedly the i8, while the i6 is challenging the standard wheelbase Model Y. Let's take a brief look at the basic parameters of the Model Y L. The new car's dimensions are 4976/1920/1668mm, with a wheelbase of 3040mm, a curb weight of 2088kg, and peak power of the front and rear motors at 142kW and 198kW respectively, with a top speed of 201km/h. In line with @ Shawn's revelations this Tuesday, the Model Y L has an extended wheelbase that is 15cm longer than the standard wheelbase version, but contrary to people's speculations, the Model Y L has kept the length under 5 meters. Looking at the wheelbase, the Ideal i8's 3050mm is closer to the Model Y L's 3040mm, but it is larger in length, width, and height compared to the Model Y L. In terms of overall dimensions, the Ideal i6's length, width, and height are similar to those of the Tesla Model Y L, but the i6 has a wheelbase that is 40mm shorter than the Model Y L. However, the i6 is a five-seat pure electric SUV, so the two models are positioned differently. More importantly, the pricing: the pre-sale price of the Ideal i8 today is 350,000 to 400,000 yuan, while the current price of the L8 is 321,800 to 379,800 yuan. The official price of the i8 is expected to be 10,000 to 20,000 yuan higher than that, which almost perfectly overlaps with the estimated price of around 400,000 yuan for the Model Y L, as indicated by the aforementioned informed sources. In the case of the Model Y, which has gained global success without the impact of range-extended impressions, for the Ideal i8 to surpass the Model Y L, the first aspect to consider is space. We recently experienced the Li Auto i8. The dynamic aspects are still under wraps, but what can be said is that the i8 continues to uphold the Li Auto family's commitment to a unified experience of three-row space. Compared to the Model Y L, the size of the i8 theoretically gives it more "capital." For example, the seat shape of the i8 provides a strong sense of wrapping, with the side wings of the seat cushion and the backrest both extended and thickened. In addition, the third row of the i8 has enough space, and when there isn’t much luggage in the trunk, the backrest can be adjusted to the most reclined position. However, the angle of the third-row seat cushions is relatively flat, and the cushions can be a bit hard. If the trunk is fully packed, the backrest of the third-row seats must be adjusted to a relatively upright position. In this case, tall people will tend to have a sitting posture similar to that of a small stool. Therefore, the Model Y L's inherently smaller size requires it to make more extreme design choices in terms of space when facing direct competitors like the i8. At the same time, Ideal has accumulated experience in family vehicles with the L series, paying more attention to details, such as hiding and soundproofing the air conditioning vents, adding grooves for storing phones in the door edges, a three-segment layered dashboard, and a light-colored steering wheel. Additionally, the MEGA features a 21.4-inch rear screen and a built-in refrigerator. The Model Y L continues to feature a sloping roof design and is smaller in size compared to the i8. The spatial shortcomings may focus on the third row and trunk capacity. A leaked comparison image between the Model Y and Model Y L shows that the latter has a noticeably reduced trunk capacity, while the space in the third row remains unknown. However, informed sources have also revealed that the Model Y L will not only have a larger space compared to the standard wheelbase version, but it will also have a longer range and a more upscale interior. The relatively simple interior style of the Model Y may change. As for the power, the dual-motor configuration of Model Y L with 142+198kW, although not as impressive in numbers as the ideal i8 with 150+250kW, should be noted that the i8's curb weight of 2580-2610kg is significantly higher than that of Model Y L at 2088kg. Not only that, but urban auxiliary driving will be fully equipped on the Ideal i8, which poses a certain impact on Tesla, whose FSD activation costs are high and are subject to regulatory restrictions in two locations. Currently, it seems that the Ideal i8, as a domestically produced pure electric vehicle with a native three-row seating arrangement, has advantages in terms of space, configuration, and specifications. However, the comparison of dynamic performance is also an important factor. Especially beyond static and dynamic aspects, the recognition of the Tesla brand represents brand safety and vehicle safety, which is something the Ideal i8 needs to overcome. Low to high - Le Dao L90 After the pre-sale launch event, the price, configuration, and dimensions of the Ledo L90 seem to put it in an "invincible position" in various cyber comparisons. Shen Fei and Li Bin's forwarded content about the Model Y L focuses on two aspects: one emphasizes the spaciousness of the Leidao L90, while the other mentions the increasingly charging and battery swapping infrastructure and product technological innovations, which contribute to the arrival of the large space pure electric SUV era. The pre-sale price starts at 279,900 yuan, and after BaaS, it starts at 193,900 yuan for the Le Dao L90, which focuses on "big." The L90 from Le Dao has a length of 5 meters and a wheelbase of 3110mm, making it the largest in size among the three models from Te Li Li, while also being the lowest in price. In addition to the zero-gravity seats in the second row and the legroom of over 1 meter in each row, the Le Dao L90's front and rear trunk capacity can reach a total of 670L without folding down the third-row seats, with the front trunk alone reaching 240L. "All seats are VIP, 6 people, 10 boxes with no pressure, and luggage can be stored in the front and back." This promotional phrase summarizes the main advantages of the Ledo L90. Li Bin mentioned that "the increasingly of charging and battery swapping infrastructure and product technology innovation" is, for Leda, the reason why NIO has built a total of 3,402 battery swap stations as of today, as well as NIO's long-standing commitment to self-research, which is believed to be the reason Leda L90 can offer a surprising price. The price difference between the Ledo L90 and the Ideal i8, compared to the Model Y L, should be more clearly reflected in the three electric systems and intelligence. The standard configuration of the Leda L90 with an 85 kWh battery has a CLTC range of 605 km, which is significantly lower than the lowest configuration of the Ideal i8 with a 90.1 kWh battery capacity and a minimum CLTC range of 670 km. Ladao has a strong battery swap network to compensate for the absolute value of range, while Ideal has just completed its "nine vertical and nine horizontal" charging network to ensure that the Ideal i8 can fully utilize its 5C charging rate. In the refreshed version of the Model Y Dual Motor All-Wheel Drive, its 78.4 kWh battery can achieve a range of 719 km. Based on the claim of longer range, the smaller size and lighter curb weight of the Model Y L might outperform the Leado L90 and the Li Auto i8 in terms of range. In terms of assisted driving, the Ideal i8 uses a single chip with a computing power of 700 TOPS, the Thor-U chip, and is equipped with the next-generation assisted driving architecture Mind VLA. In contrast, the Leidao L90 is equipped with a single chip with a computing power of 254 TOPS, the Orin X chip, and adopts a vision-based solution. Although the promotional efforts for the Ledo L90 have been aligning with the Ideal i8 and Tesla Model Y L, its price point is slightly lower than the latter two. 300,000 yuan serves as an "invisible" dividing line for car purchases, while 30,000 to 50,000 yuan is already enough to attract a batch of potential customers. Ludao L90 has always emphasized space, NIO's battery swapping, and self-research, perhaps in order to attract users hovering around the 300,000 yuan price range with large space, 900V, BaaS, and the convenience of energy replenishment. Starting from the three main characters of today’s article, in addition to the ideal i8 and Lido L90, the Zhiji LS9 and AITO M8 pure electric version are also gearing up. Do you all think that, facing the already erupted domestic three-row pure electric vehicles, Tesla still has an advantage with this China-specific offering?

Recently, there have been reports in the industry that the Volkswagen Group (referred to as "Volkswagen") and its Chinese partner SAIC Motor Corporation will close their joint venture factory in Nanjing. Production at the factory has already halted, and it is expected to gradually close down in the second half of the year. On July 15, the Economic Observer consulted Volkswagen China about the news of the closure of the Nanjing factory. The response stated: "SAIC Volkswagen continues to deepen and implement the 'In China, For China' strategy, working together with both shareholders to accelerate the transition to the era of electrification and intelligent connected vehicles. As part of this strategic implementation, SAIC Volkswagen is making corresponding adjustments to its production capacity and optimizing its production network layout." SAIC Volkswagen's Nanjing plant was established in 2008 and is a key step for SAIC Volkswagen to expand its production capacity in China. In April 2008, then-CEO of Volkswagen Martin Winterkorn and then-chairman of SAIC Group Hu Maoyuan jointly inaugurated the Shanghai Volkswagen (the predecessor of SAIC Volkswagen) Nanjing plant. "The closure of the fuel vehicle factory in Nanjing is a 'self-harming move' for Volkswagen, and it also marks the beginning of its electric transformation entering the 'deep water zone'," said Bai Wenxi, vice chairman of the China Enterprise Capital Alliance, to the Economic Observer. The economic account behind the shutdown SAIC Volkswagen's Nanjing factory was formerly the Nanjing Fiat factory under the original Nanjing Automobile Group. After SAIC acquired Nanjing Automobile in 2007, Shanghai Volkswagen urgently needed to expand production due to a surge in sales, while Nanjing Automobile's factory was idle due to Fiat's withdrawal. Ultimately, SAIC transformed the Nanjing Fiat factory into Shanghai Volkswagen's first production base outside of Shanghai. In April 2008, the Shanghai Volkswagen Nanjing plant was completed and put into production, utilizing production lines that meet German standards, and it produced tens of thousands of Santanas in that year. In the 2010s, the Nanjing plant became the "cradle" of the mid-to-high-end sedan, the Passat. From 2015 to 2018, SAIC Volkswagen, relying on hot-selling models like the Passat, repeatedly claimed the title of the top-selling passenger car manufacturer in the country. The Nanjing factory is the first complete vehicle factory that Volkswagen has fully closed in China. In 2022, SAIC Volkswagen's Shanghai Anting No. 1 plant partially shut down, transferring fuel vehicle production to the Yizheng factory, with the original site converted into a research and development center. In 2024, for economic reasons, SAIC Volkswagen plans to sell the Xinjiang factory to external parties. The upgraded and transformed SAIC Volkswagen Jiangsu base is located in the Yizheng Economic Development Zone of Jiangsu Province. Within the park, there are more than 100 parts manufacturers, forming a trillion-yuan industrial cluster that includes key components such as automotive interior and exterior trim, automotive powertrains, high-end automotive electronics, automotive safety systems, and the automotive aftermarket. Benefiting from the in-depth promotion of the Yangtze River Delta integration development strategy, the Yizheng Economic Development Zone, with its superior geographical location and policy support, has integrated into the Yangtze River Delta automotive industry cluster, an insider from SAIC Volkswagen told the Economic Observer. Bai Wenxi stated that the reason Volkswagen closed its factory in Nanjing is partly due to the fact that the market segment for the Passat produced at the Nanjing factory has been rapidly encroached upon by domestic electric vehicle models such as the BYD Han, NIO ET5, and Xpeng P7. By 2024, the production capacity utilization rate of SAIC Volkswagen had dropped to 55%. On the other hand, the Nanjing factory is located in the core area of the Jiangning Development Zone, which has logistical constraints and limited space. Volkswagen's "In China, for China" strategy requires it to focus resources on the development of localized electric vehicle platforms and regional electronic and electrical architecture research centers. The cost of transforming the old ICE production line at the Nanjing factory is high, and the returns are limited, said An Guangyong, an expert from the All-China Federation of Industry and Commerce's Mergers and Acquisitions Credit Management Committee, in an interview with the Economic Observer. According to official information from SAIC Volkswagen, the Nanjing factory produces the Volkswagen brand Passat, as well as the Skoda brand Superb and Kamiq. Skoda was established in 1895, acquired by Volkswagen in 1991, and introduced to the Chinese market by Shanghai Volkswagen in 2005. In the Chinese market, the Skoda brand is seen as a cost-effective alternative to the Volkswagen brand and was once very popular among consumers. In recent years, as the penetration rate of new energy vehicles in the domestic auto market continues to rise, and the market share of domestic brands keeps increasing, Skoda's sales have been declining. In 2024, Skoda delivered only 17,500 vehicles in China, a year-on-year decrease of 23.1%, representing a reduction of over 90% compared to the peak sales of 341,000 vehicles in 2018. "Volkswagen's production capacity in China is close to 5 million vehicles, but the actual output in 2024 will be less than 3 million vehicles. Closing 360,000 units of inefficient capacity can clear fixed costs and labor burdens in one go," said Berndt W. H. The trade-offs of electrification transformation In An Guangyong's view, Volkswagen's closure of its Nanjing factory is a strategic move in its global electrification transition. Under the influence of factors such as a sharp shift in demand, intensified price wars in electric vehicles, and adverse macroeconomic conditions, this action by Volkswagen can be seen as a necessary pain for the "turning of the elephant," and not a sign of pessimism towards the Chinese market. According to an insider from SAIC Volkswagen, the company has been adopting a "one-time planning, step-by-step implementation" approach since 2015, with the Shanghai base taking the lead. Several factories have completed or are in the process of transitioning to electric vehicle production. Recently, the Jiangsu base has also undergone corresponding resource integration and upgrading to support the implementation of future product strategies and further enhance operational efficiency. In recent years, the global automotive industry's transition to electrification has faced numerous ups and downs, and there has even been a resurgence of gasoline vehicles. However, Volkswagen is one of the multinational car companies with the most resolute attitude towards electrification. "Volkswagen firmly believes that electrification is the future of mobility," said CEO Oliver Blume in 2024. According to the official plan, from 2025 to 2029, Volkswagen intends to keep its investment scale within 170 billion euros, with funding primarily allocated to new products, regional markets, battery business, pure electric vehicle platforms, and advanced fuel vehicles with ongoing hybridization. By 2030, Volkswagen plans to launch 30 pure electric vehicle models. In the first half of this year, Volkswagen's global deliveries of pure electric vehicles reached 465,500 units, an increase of 47% year-on-year, with a growth rate of about 90% in the European market. Currently, one-fifth of the vehicles delivered by Volkswagen in the Western European market are pure electric vehicles, and the corresponding order volume has increased by over 60%. Amidst the rapid growth in pure electric vehicle sales, Volkswagen's total global vehicle deliveries reached 2.13 million units in the first half of the year, achieving a year-on-year growth of 1.4%. "We are continuously advancing our electrification transformation through a highly attractive product portfolio," said Marco Schubert, a member of the board responsible for sales at the Volkswagen Group. "The order volume for pure electric models has increased by over 60% year-on-year, which gives us confidence in the development for the second half of the year." However, Volkswagen still faces profit pressure. According to the financial report, in the first quarter of this year, Volkswagen Group's sales revenue was 77.6 billion euros, a year-on-year increase of 2.8%; operating profit was 2.9 billion euros, a significant decline compared to 4.6 billion euros in the same period last year. Regarding the profit decline, Volkswagen attributed part of the reason to tariff factors. It is understood that due to the uncertainty of U.S. tariffs, Volkswagen has suspended the transportation of cars from Mexico by rail and will temporarily hold cars transported from Europe at ports. In addition, the challenges in the Chinese market cannot be ignored by Volkswagen. In the first half of this year, Volkswagen's delivery volume in the Chinese market was 1.31 million vehicles, a year-on-year decrease of 7.1%, with the delivery volume of pure electric vehicles declining by more than 30% year-on-year. Not only for the general public, but also for major multinational automakers that are advancing their electrification transformation, China is one of the most challenging markets. In China, from new car manufacturers like NIO, Xiaopeng, and Li Auto, to leading domestic companies like Geely and BYD, and even cross-border giants like Xiaomi, local new energy vehicle companies have gained first-mover advantages after years of fierce competition in the domestic market. It is not easy for multinational car companies to establish a foothold in the Chinese new energy vehicle market. "The direction of Volkswagen's electrification transformation is correct, but the pace in the Chinese market is still relatively slow," said Berndt. He believes that 2025 to 2026 is Volkswagen's "last window period" in China. If new products cannot quickly catch up with the leading new forces in China in terms of cost, intelligence, and channels, its market share will continue to be eroded. New chips in the Chinese market "The public needs to 'accelerate again' in China. The closure of the Nanjing factory indicates that Volkswagen has abandoned the transitional model of 'using fuel vehicles to support electric vehicles' and is entering the second phase of 'shut down and transition, concentrating resources.' The collaboration with Xpeng, the introduction of the MEB-Plus platform, and the implementation of unified battery cells are all visible new assets for Volkswagen's future," said Bernd W. Becher. In July 2021, Volkswagen Anhui and Guoxuan High-Tech reached an agreement for Guoxuan High-Tech to develop a new generation of standard battery cells for Volkswagen's electric vehicles in China. According to Volkswagen's plan, the standard battery cells will significantly reduce battery cell costs by adopting a unified design standard. In September 2024, Guoxuan High-Tech revealed in response to investor inquiries that the Volkswagen standard battery cell factory has the production capability, and the delivery time will be determined based on the production progress and demand of Volkswagen's vehicles. In 2023, Volkswagen invested approximately $700 million to acquire a 4.99% stake in Chinese electric vehicle startup Xiaopeng Motors. In July 2024, Volkswagen and Xiaopeng Motors signed a joint development agreement for the electronic and electrical architecture technology cooperation, aimed at jointly developing the electronic and electrical architecture for Volkswagen's CMP and MEB platforms produced in China. According to the plans of both parties, starting in 2026, all domestically produced Volkswagen brand models based on the CMP and MEB platforms will be equipped with this electronic and electrical architecture. The Economic Observer has learned from Volkswagen China that starting in the second half of this year, Volkswagen's next-generation intelligent connected vehicle products are scheduled to be delivered to Chinese customers. By 2026, Volkswagen plans to launch over 20 new intelligent connected models in China, covering various powertrains including gasoline, pure electric, plug-in hybrid, and extended-range vehicles. Recently, the Volkswagen Supervisory Board held a meeting and renewed the contract of the Group's Board members and China region head, Berndt, for an additional three years, until the summer of 2028. "This early renewal reflects the Supervisory Board's recognition of the rapid advancement and achievements of the China strategy, and sends a strong signal to the Group internally and to our Chinese partners: the Volkswagen Group will fully support the transformation direction of the China region and continue to deepen our local presence," the Volkswagen Group stated. An Guangyong stated that Volkswagen's transformation in the Chinese market is effectively accelerating, but the challenges posed by the external environment cannot be overlooked. "In the past 18 months, the average price of electric vehicles in China has dropped by over 25%, and the ongoing price war is continually compressing profit margins. Geopolitical factors and U.S. semiconductor export controls, which restrict high-performance chips and cross-border data, will also increase supply chain and compliance costs," he said.

The addition of smart technology to rugged models is clearly aimed at accommodating urban scenarios, hoping to attract a broader audience. The purpose of this, of course, is to boost sales. The Mengshi M817 features the Huawei Qiankun ADS 4 intelligent driving assistance system and HarmonyOS cockpit 5, entering the market at a starting price of 330,000 yuan, which requires a certain amount of courage. The current shipment volume in this niche market is not very large, and the mecha-style appearance and muscular lines inherently determine the niche character of this vehicle. The combination of a floating 10.25-inch LCD instrument panel and a 15.6-inch central control screen leans slightly towards a more mainstream style. The charging interfaces include a 6.6 kW external discharge conversion interface and a 220-volt socket, providing some application scenarios for outdoor power use. In terms of power, it uses a 1.5T engine and a plug-in hybrid system composed of front and rear dual motors, offering fuel, pure electric, range extender, plug-in hybrid, and 9 driving modes. As for how the sales will be, it will take about 3 months of delivery data to draw some reliable conclusions. In any case, there is now another option for a hard-core off-road vehicle in the market that is (new energy).

From July 10 to 12, 2025, the China Automotive Forum will be held in Jiading, Shanghai. The theme of this forum is "Enhancing Quality, Embracing New Opportunities, Winning the Future." More than 200 guests from government departments, automotive companies, supply chain enterprises, and industry organizations have been invited to give speeches, discuss industry policies, explore future trends, analyze critical issues, and jointly promote the sustainable development of the automotive industry, fostering deep exchanges and cooperation in the global automotive sector. On the morning of July 12, at the "Theme Forum Eight: Smart Empowerment, the Path of 'Intelligent' Inspection - Empowering High-Quality Development of the Automotive Testing Industry," Ye Shengji, Chief Engineer of the China Association of Automobile Manufacturers, delivered a speech. He stated that currently, the global automotive industry is undergoing an unprecedented transformation in a century. The wave of "new four modernizations"—electrification, intelligence, connectivity, and sharing—sweeps in, intertwining the restructuring of the industrial chain with technological revolution. The complex changes in the international situation further pose severe challenges to industry development. At the same time, the automotive industry is accelerating its transformation from "mechanical manufacturing" to "intelligent mobile space," which also brings rare development opportunities. In this process, automobile testing is no longer merely a performance verification stage in the traditional sense; it has become a "quality lifeline" and "innovation catalyst" that runs through the entire lifecycle of research and development, production, and application. From chip testing to whole vehicle testing, from simulation testing to real vehicle testing, every breakthrough in testing technology is laying a solid foundation for the high-quality development of the industry. The essence of automotive testing is to define industry standards for "safety," "reliability," and "efficiency" using scientific methods. The injection of intelligent and digital technologies is redefining the boundaries of these standards and enriching their connotations. To this end, Ye Shengji has proposed three initiatives: First, consolidate the foundation of testing through technological innovation.Encourage enterprises to increase their R&D investment in fields such as AI algorithms, big data analysis, and virtual simulation, promoting the intelligentization of testing equipment, digitalization of testing processes, and visualization of testing results, so that testing technology becomes an "incubator" for product innovation. Second, promote industry collaboration through standard co-construction.Call on industry peers to participate in the formulation and improvement of testing standards, especially in emerging fields such as digital intelligence infrastructure and AI large models, to accelerate the establishment of technical specifications. Thirdly, expand the global perspective through open cooperation.Currently, the situation for China's automotive industry going global is very promising, with export volumes hitting new highs year-on-year. We will take this opportunity to strengthen exchanges and mutual learning with international testing and certification organizations, promote mutual recognition of standards in fields such as new energy vehicles and intelligent connected vehicles, assist Chinese automotive brands in going abroad, and accelerate the internationalization of the automotive industry. "The wave of transformation in the automotive industry is already surging. The intelligent and digital transformation of testing technology is both a challenge and a great opportunity to win the future. Today, we plant the seed of 'intelligent and data empowerment' in Anting, hoping it will take root and grow in the fertile soil of multi-party collaboration, becoming a towering tree that supports the high-quality development of China's automotive industry."

On the evening of July 16, Tesla suddenly announced on its official Weibo account, "Model Y L, see you in the golden autumn!" without any prior notice, and attached two official images of the Model Y L. This news quickly attracted industry attention. Subsequently, Tesla Vice President Tao Lin retweeted this post and confirmed that the Model Y L is positioned as a "luxurious SUV with six spacious seats for all scenarios." On the same day, the Ministry of Industry and Information Technology released the latest vehicle new product announcement list, which includes two products from Tesla in the ministry's directory. The product names are pure electric multi-purpose passenger vehicle and pure electric sedan, with model numbers TSL6500BEVBA0 and TSL7000BEVBR1, respectively. The former is the application image of the Tesla Model Y L, positioned as a large six-seat luxury pure electric SUV model. From the declaration images, the new car still adheres to the design style of the currently sold model. The front face features a (through-type light strip) combined with a split headlight design. On the side, due to an increase in the car's length, the overall shape appears slimmer, with a slightly upward trend in the side waistline. The new car offers a hidden door handle design and has been equipped with brand new 19-inch wheels, with tire specifications of 255/45R19 in the front and 275/45R19 in the rear, giving it a highly sporty visual effect. At the rear, the new car's tail badge carries exclusive lettering, making it very recognizable. In terms of dimensions, the new car measures 4976/1920/1668mm in length, width, and height, with a wheelbase of 3040mm, expected to be positioned between the Model Y and Model X. For comparison, the Tesla Model Y measures 4797/1920/1624mm, with a wheelbase of 2890mm. In contrast, the new car has increased in size, except for the width which remains the same; the length has increased by 179mm, the height by 44mm, and the wheelbase by 150mm. In terms of seating layout, the new car will feature a 2+2+2 six-seat configuration. As a reference, the currently available Tesla Model Y is only offered in a five-seat version. In terms of power, the new car is equipped with front and rear drive motors with model numbers 3D3 and 3D7, with maximum powers of 142 kW and 198 kW, respectively. Compared to the current Model Y Long Range All-Wheel Drive version, the power of the front and rear motors has been increased by 5 kW and 4 kW, respectively. As of now, Tesla China has two models for sale: the Model 3 and Model Y. Both models became instant bestsellers upon their launch, but since then, Tesla has not introduced any new products, only updating and refreshing the aforementioned models. With the automotive industry becoming extremely competitive, the speed of new car launches in the domestic market has accelerated compared to the past. In the context of domestic car manufacturers continuously launching new models, Tesla, with its limited product lineup and relatively slow pace of updates, faces the biggest challenge of declining sales. According to data from the China Passenger Car Association, from January to June this year, Tesla China's cumulative wholesale sales (including exports) were 364,500 units, a year-on-year decline of 14.6%; cumulative retail sales in the Chinese market were 263,400 units, a year-on-year decline of 5.4%, with a market share of 4.8%. It is the only company in the top ten of the retail sales list of new energy manufacturers that experienced a decline. Tesla's official announcement of the Model Y L, which came almost without any prior notice, is undoubtedly a good signal. Many netizens have expressed that the emergence of the Model Y L caught everyone off guard. It is worth mentioning that after Tesla announced the upcoming release of the Model Y L, both Li Xiang, CEO of Ideal Auto, and Li Bin, CEO of NIO, retweeted the post and commented on it. Li Xiang stated: "Six worthy of respect pure electric SUVs have arrived. Users looking for six-seat pure electric SUVs in the 200,000 to 300,000 yuan price range can look forward to this. Of course, if the vehicle requirement is for five seats, feel free to pay attention to the Ideal i6, which will be released in September." Additionally, after the Ideal i8 officially started accepting reservations today, Li Xiang posted again, stating: "Most Chinese car companies have a small deposit phase. We don't yet have the popularity of Xiaomi, so we can't skip directly to large reservations without a small deposit; we also can't yet do what Tesla does, without any deposits—big or small—without a launch event, just selling directly on the official website. We hope that through the joint efforts of all Ideal Auto colleagues, we can achieve this in the future: no small or large deposits, no launch events, just selling directly on the official website." Li Bin also retweeted Tesla's post and stated, "With the continuous improvement of charging and swapping infrastructure and product technology innovation, the pure electric era of large space SUVs has arrived." He also took the opportunity to promote his own product: "The Ledo L90 is an innovative work born in this context." In addition, NIO's Senior Vice President and President of Ledo Auto, Shen Fei, pointed out, "The six-seat SUV market is getting very lively in the second half of the year, with more and more pure electric six-seat SUVs. Just in the past few days, three pure electric six-seat SUVs have been officially announced, making the trend towards electrification increasingly prominent. Everyone is competing for user value and user experience!" According to the plan, the Model Y L will be launched this autumn. As for the price, for reference, the current Model Y refresh is priced between 263,500 and 313,500 yuan. With the subsequent release of the Tesla Model Y L, the competition in the pure electric six-seat SUV market will become increasingly intense. On the same day, the Tesla Model 3+ also appeared in the new vehicle declaration directory of the Ministry of Industry and Information Technology. According to the declaration information, the new car's exterior basically continues the design style of the currently sold models, with tail lights featuring a highly integrated design and the rear carrying the "Model 3+" label to distinguish it from the current Model 3. In terms of power, the new car adopts rear-wheel drive, mainly enhancing the maximum power of the motor. The declaration information shows that the Tesla Model 3+ is equipped with a ternary lithium battery pack provided by LG, with a battery capacity of 78.4 kWh.

On July 18th, news reported that the Export Data of the Passenger Car Association was recently released, revealing the top 20 export sales rankings of Chinese car models for the first half of 2025. From the overall ranking, fuel vehicles still dominate, with only 9 new energy models in the TOP 20, but the growth momentum for new energy is rapid. The BYD Song PLUS New Energy topped the list with an export performance of 134,105 units, a year-on-year surge of 184.0%, an increase of 86,882 units compared to the same period last year, rising from 11th place last year to 1st place, becoming the biggest winner in the export market in the first half of the year. The second place MG ZS sold 91,706 vehicles, a year-on-year increase of 45.4%, with an increment of 28,627 vehicles, ranking fourth. The third place, Chery Tiggo 5X, sold 69,838 units, a slight decrease of 4.6% year-on-year; the fourth place, Chery Tiggo 7, sold 63,965 units, a year-on-year decline of 43.3%. The new energy sector is full of highlights, with BYD's Sea Gull ranking fifth with 61,314 units sold, a year-on-year increase of 77.1%. Notably, the Sea Lion 07EV made its debut on the list by ranking tenth with 49,706 units sold, achieving a breakthrough from zero to nearly 50,000 units. Its export volume also surpassed that of the Model Y, which ranked twelfth with 42,543 units. The Explorer 06C-DM performed impressively, ranking eighth with 51,372 units sold, a year-on-year increase of 342,380%. The increase of 51,357 units ranks second. The latest ranking shows that China's automobile exports are gradually transitioning from being dominated by fuel vehicles to new energy vehicles, with domestic brands like BYD continuously breaking through in the global market thanks to their product strength.

According to foreign media reports, Scout Motors, a subsidiary of the Volkswagen Group, has submitted a request to the U.S. government urging it to take all necessary measures to abolish the automobile franchise laws in various states. The company believes that these laws are "heavy restrictions on competition" and hopes to pave the way for direct sales of cars to consumers. Image source: Scout Motors This request was submitted by Blair Anderson, Vice President of Government and Regulatory Affairs at Scout Motors, in an 11-page letter to the Antitrust Division of the U.S. Department of Justice. It is reported that this division was established in March of this year, and former President Trump signed two executive orders in January and February aimed at reducing the "regulatory burden on the American people." Scout Motors plans to begin production in the U.S. in 2027, selling the Terra pickup and Traveler SUV through experience centers, quick transactions, stores in major U.S. markets, and a flexible nationwide service network, utilizing a direct sales model. Last October, Scout Motors unveiled these two body-on-frame light truck models and confirmed that they will bypass the traditional dealership system and the Volkswagen Group's own dealership network to sell vehicles directly to consumers. It is reported that Volkswagen Group dealers have long called for an increase in the supply of pickups and SUVs. Currently, Scout Motors is led by Scott Keogh, the former CEO of Volkswagen Group of America and president of Audi of America. In a letter dated May 23, Blair Anderson stated, "The outdated state automobile franchise laws—originally established decades ago to address the circumstances of that time—have evolved into a legal umbrella protecting the existing dealer network, preventing other business models from existing, let alone competing with the current dealer network." Blair Anderson pointed out in the letter that the existing and pending state automobile dealer franchise laws threaten Scout Motors' ability to sell and service vehicles in all 50 states in the U.S. Blair Anderson claims that in the U.S. economy, no industry has more anti-competitive laws that hinder innovation, economic growth, and consumer welfare than the American automotive industry and state dealership franchise laws. He wrote: "We urge the U.S. Department of Justice and the Trump administration to thoroughly investigate these protectionist, anti-competitive strategies and open up space for fair competition and innovation in the American automotive industry. These strategies directly conflict with the possibilities of a free and open market, where all businesses can compete fairly." Blair Anderson pointed out that it makes no sense to force emerging manufacturers to adopt a dealer franchise model in the initial stage, especially when the manufacturer has never asked any dealers to invest in the distribution of their vehicles, has developed more efficient alternatives, and will not sell similar models that the franchised dealers already have. In response to the above report, Scout Motors declined to comment further. The state automotive franchise laws in the United States have quickly become a legal obstacle for Scout Motors. In February, a bill in South Carolina failed to pass that would have allowed Scout Motors to sell cars directly to consumers, like American electric vehicle manufacturers Tesla, Rivian, and Lucid. In February of this year, a group of Volkswagen and Audi dealers in Florida filed a lawsuit trying to stop Scout's direct sales retail model, alleging that the company's reservation system violates state laws. These dealers claimed in their lawsuit that Scout Motors should be prohibited from accepting vehicle reservations in Florida and that the brand should be barred from conducting business in the state due to a lack of a manufacturer’s license. It is reported that on October 24, 2024, Scout Motors will begin accepting a refundable deposit of $100 for the Traveler SUV and Terra pickup. However, the dealers argue that this deposit can be applied toward the final purchase price, effectively functioning as a down payment. In April of this year, the California New Car Dealers Association filed a similar lawsuit against Scout Motors, Volkswagen Group, Volkswagen of America, and Volkswagen Group of America. The National Automobile Dealers Association (NADA) vows to stop manufacturers from selling cars directly to consumers and has challenged such efforts in court and at state legislatures. In March of this year, NADA sent a letter to Volkswagen Group CEO Oliver Blume and other senior executives urging them to change their strategy. As of July 16, NADA has not received a response. In a letter submitted to the U.S. Department of Justice in May of this year, NADA's Senior Vice President of Regulatory Affairs, Daniel Ingber, wrote: "Franchised automobile dealers and their protective laws enhance the competitiveness of the U.S. new car market and benefit consumers. Despite anonymous attacks on the franchising system, all empirical evidence indicates that it has a positive effect." In order to defend the direct sales model, the Volkswagen Group and Scout Motors insist that the Scout truck brand is independent and autonomous, but this claim has been questioned by dealers. In April of this year, at the New York Auto Forum, Bernie Moreno, a Republican senator from Ohio and former car dealer, briefly mentioned Scout Motors, stating, "Frankly, I really don't understand the current situation. The dealer franchise model used to work well and was beneficial for both sides." Bernie Moreno expressed optimism about Scout Motors' adjustment of its development direction.

International News Guide:   Raw Material News - American DuPont plans to sell Nomex and Kevlar brands for $2 billion Automotive News - GAC Group Enters UK Market, to Launch Two AION Brand EVs First Electronics News - Counterpoint: Global Smartphone Shipments Grew 2% YoY in Q2 Other News - Covestro India and CSIR-NCL Partner to Convert PU Waste into Chemical Building Blocks   Details of International News:   1. American Dupont Plans to Sell Nomex and Kevlar Brands for $2 Billion It is reported that DuPont's iconic high-performance brands - Nomex and Kevlar, have now been put up for sale. As part of a major corporate restructuring, DuPont is preparing to spin off the Nomex and Kevlar heat-resistant fiber brands by mid-2025. Private equity firms Advent International and Platinum Equity are preparing to submit bids, and the deal is expected to be valued at approximately $2 billion (equivalent to about RMB 1.44 billion). The purpose of this spin-off is to focus on high-growth areas (semiconductors, medical care, water treatment). 2. Covestro Declares Force Majeure on TDI / oTDA-based / Polyether Polyol Due to a fire in an external transformer station in building L26 at Chempark Dormagen early Saturday morning on July 12, 2025, there was a sudden and unpredictable power outage in parts of the Chempark. In addition to the process control system, Covestro's PUD and PET operations as well as the chlorine plant were also affected by this incident, which had to be shut down to a safe state. The specific impacts of this incident cannot yet be assessed by Covestro. Furthermore, it is not foreseeable how long this condition, the interruption of the power supply, and the failure of the process control system will last. 3. Solvay Revises Its 2025 Underlying EBITDA Outlook and Confirms Its Free Cash Flow Guidance In the second quarter, Solvay experienced a continuation of the soft market environment, impacted by ongoing global tariff discussions and heightened geopolitical tensions. This led to a progressive reduction of demand, and a slowdown in order books, particularly in certain soda ash end-markets and in the Coatis business unit. Visibility remains low and market conditions are expected to remain challenging throughout the second half of 2025. 4. Adnoc to transfer OMV stake to XRG Abu Dhabi National Oil Co. (Adnoc) announced July 16 that it intends to transfer its 24.9% shareholding in OMV AG (Vienna) to XRG PJSC, Adnoc’s wholly owned international investment company. Details of the transaction have not been disclosed.The transfer, which is subject to regulatory approvals, is aligned with Adnoc’s s strategy to consolidate its international growth investments under XRG, the company said. XRG, launched in November 2024, is also Adnoc’s vehicle for the previously announced acquisition of Covestro AG. 5. Canada’s KSR sold to U.S.-based Angstrom Automotive Group KSR International, a Ridgetown, Ont.-based automotive parts maker, has been acquired by Angstrom Automotive Group Inc., in a move that expands Angstrom’s product offering, manufacturing footprint, and vertical integration, while deepening business with OEMs. 6. GAC Group Enters UK Market, to Launch Two AION Brand EVs First On July 16, GAC Group and Saudi-owned distributor Jameel Motors announced a cooperation agreement, under which the latter will distribute GAC Group's models in the UK, Europe's second-largest automotive market. This makes GAC Group the fourth Chinese automaker to launch a new brand in the UK market this month. According to the plan, GAC Group will first launch two AION brand electric models in the UK market - the AION V SUV and AION UT Hatchback, with the first batch of vehicles expected to be delivered to UK consumers in the first quarter of 2026. 7. Covestro India and CSIR-NCL Partner to Convert PU Waste into Chemical Building Blocks Covestro (India) Private Limited has signed a Memorandum of Understanding (MOU) with the CSIR-National Chemical Laboratory (NCL) launching an innovative Corporate Social Responsibility project. The project aimed at developing sustainable upcycling solutions for polyurethane materials, addressing the critical limitations in current recycling technologies.  8. South Korea Plans to Impose 5-Year Anti-Dumping Duties on Chinese Petroleum Resins Recently, South Korea's Ministry of Strategy and Finance issued Announcement No. 2025-142, stating that it will impose anti-dumping duties for five years on petroleum resins originating from Mainland China and Taiwan Region of China. Among them, the duty rate for Mainland China is 2.26% ~ 3.50%, and that for Taiwan Region of China is 7.07% and 18.52%. The case involves products under Korean tariff code 3911.10.1000, but C9 petroleum resins with a softening point of not less than 130℃ are not subject to the above anti-dumping duties. 9. Counterpoint: Global Smartphone Shipments Grew 2% YoY in Q2 On July 17, according to preliminary data estimates from Counterpoint Research's market monitoring service, global smartphone shipments in the second quarter of 2025 grew slightly by 2% year-on-year (YoY). This growth marks the second consecutive quarter of expansion, mainly driven by contributions from the North American, Japanese and European markets. Samsung maintained its position as the world's top smartphone vendor in Q2 2025 with an 8% YoY increase in shipments. Apple remained in second place, with its shipments rising 4% YoY. Xiaomi's performance in Q2 2025 was flat YoY, ranking third. vivo and OPPO ranked fourth and fifth respectively, performing steadily in the mid-range market and showing signs of recovery in overseas markets such as Latin America and the Middle East and Africa (MEA). Overseas Macro Market: 【Fed Releases "Beige Book" on Economic Conditions】 On July 16 local time, the Federal Reserve released the "Beige Book" on economic conditions.【US June Producer-Side Inflation Data Unexpectedly Lower Than Expected】 On July 16 local time, US June producer-side inflation data was unexpectedly lower than expected, failing to reflect the potential price increase effect that tariff policies might bring to producers for the time being. The market continues to bet that the Federal Reserve will cut interest rates twice within the year. 【Trump Denies Plan to Fire Powell】 On July 16 local time, US President Trump denied news that he would soon fire Federal Reserve Chairman Powell, easing market concerns. 【Earnings of Major US Financial Institutions Remain Stable】 On July 16 local time, major financial institutions such as Bank of America, Goldman Sachs, and Morgan Stanley released relatively stable earnings reports, boosting market risk appetite. The three major US stock indexes closed higher collectively on Wednesday, with the Nasdaq hitting its ninth closing record high this year. 【UK June CPI Year-on-Year Increase Rebounds to 3.6%】 On July 16 local time, data released by the UK Office for National Statistics showed that the year-on-year increase in the UK's June Consumer Price Index (CPI) unexpectedly rebounded to 3.6%, hitting a new high since January 2024. The market is worried that the UK economy is on the verge of stagflation.【ASML Reports Strong Earnings but Faces Gloomy Outlook】 On July 16 local time, Dutch lithography giant ASML released its earnings report, showing that the company had strong performance in the second quarter of fiscal year 2025. However, management warned that uncertainties in macroeconomic and geopolitical risks are increasing, and the company's performance may not grow in 2026. ASML's European shares plummeted 11.37% on Wednesday, which also triggered a decline in most large European technology stocks. The three major European stock indexes closed lower collectively on Wednesday. Price Information: 【RMB/USD Central Parity Rate】 The central parity rate of RMB against USD was reported at 7.1461, up 65 points; the central parity rate of the previous trading day was 7.1526, the official closing price of the previous trading day was 7.1776, and the night session closing price of the previous day was 7.1771; 【Upstream Raw Material USD Market Prices】 Ethylene Asia: CFR Northeast Asia 820 USD/ton; CFR Southeast Asia 830 USD/ton; Propylene Northeast Asia: FOB Korea average price 740 USD/ton; CFR China average price 765 USD/ton; North Asia frozen cargo CIF price, propane 520-521 USD/ton; butane 490-491 USD/ton; South China frozen cargo CIF price for early August, propane 552-562 USD/ton; butane 523-531 USD/ton; Taiwan region frozen cargo CIF price, propane 520-521 USD/ton; butane 490-491 USD/ton; 【LLDPE USD Market Prices】Film: 875-900 USD/ton (CFR Huangpu); Injection molding: 950 USD/ton (CFR Dongguan); 【HDPE USD Market Prices】Film: 920 USD/ton (CFR Huangpu); Blow molding: 855-860 USD/ton (CFR Huangpu); 【LDPE USD Market Prices】Film: 1070-1100 USD/ton (CFR Huangpu); Coating: 1350 USD/ton (CFR Huangpu); 【PP USD Market Prices】Homopolymer: 935-965 USD/ton (CFR Huangpu); Copolymer: 965-995 USD/ton (CFR Huangpu); Film grade: 1000 USD/ton (CFR Huangpu); Transparent grade: 1085 USD/ton (CFR Huangpu); Pipe grade: 1160 USD/ton (CFR Shanghai);  

In July 2025, the parent company of Nezha Automobile, Hozon New Energy Automobile Co., Ltd., officially launched a pre-recruitment for restructuring intention investors. Interested strategic investors can submit pre-registration materials through the Alibaba Asset Platform starting from July 10. This move comes just 8 months after its suspension of production in November 2024, bringing a possibility of rebirth for this company that was once hailed as a "dark horse in the new energy sector." From establishment to the accumulation of global. Image source: Hezhong New Energy Management Aulton New Energy was established on October 16, 2014, with the registration authority being the Jiaxing Market Supervision Administration. The legal representative is the chairman, Fang Yunzhu, and the registered capital has reached 2.84 billion yuan. It is located in Tongxiang City, Zhejiang Province. As a foreign-invested unlisted joint-stock company, the most remarkable aspect of its development trajectory is the gradually constructed industrial network covering both domestic and international markets. As of May 1, 2025, the core assets of Huzhong New Energy include fixed assets, machinery and equipment, intellectual property, and accounts receivable. Among them, fixed assets encompass 350 acres of industrial land located in the Tongxiang Economic Development Zone; machinery and equipment include integrated workshop production lines, production molds, transportation tools, and experimental equipment; intellectual property is primarily based on independently developed software products and the registered trademark "Nezha Automobile." In terms of industrial layout, Hozon New Energy has formed a dual-drive pattern of "deep cultivation in the domestic market + expansion overseas." Domestically, in addition to the Tongxiang base, it also has two major production bases: the Yichun base in Jiangxi, which was put into operation in 2022, is an "all-ecological smart factory" meeting Industry 4.0 standards, with an annual production capacity of 100,000 vehicles; the Nanning base in Guangxi, in which it holds an 85.3% stake, also has an annual production capacity of 100,000 vehicles and is positioned as an export KD parts base for overseas markets. Additionally, there are three core component factories in Tongcheng, Fengtai, and Fengyang, creating a relatively complete supply chain system. Image source: Nezha Auto Nezha's layout in overseas markets is more forward-looking, with factories in Southeast Asia located in Bangkok, Thailand, Jakarta, Indonesia, and Malaysia. Among them, the Bangkok factory and the Jakarta factory are set to start production in 2024. Both factories adopt the CKD (Completely Knocked Down) assembly model to achieve localized production, laying the foundation for their globalization strategy. The Malaysia factory began construction in 2023 and is expected to commence production this year. Nazhah has a certain brand accumulation in the Southeast Asian market, and its sales performance in Southeast Asia is quite impressive. According to relevant data, the delivery volume of the Nazhah AYA series in Southeast Asia exceeded 50,000 units in 2023, accounting for 52.0% of the Southeast Asian small pure electric vehicle market. In the entire year of 2023, Nazhah Automobile's market share in Thailand's electric vehicle market reached 12%. Reorganized core values: multiple foundations of qualifications, technology, and market. Regarding this restructuring, the manager of Hozon Auto has clearly stated that the core investment value of Hozon Auto can be regarded as a "hidden gem" in the field of new energy vehicles. As a rare "dual-qualification" enterprise in the domestic new energy passenger vehicle sector, Hozon Auto is not only one of the first companies to receive dual certification from the National Development and Reform Commission and the Ministry of Industry and Information Technology, but also relies on independent research and development to master the "Shanhai + Yunhe" vehicle platform and the "Haozhi + Tiangong Battery" core technology, thus establishing its core technological barriers. Since its launch in 2018, the "Neta" brand has sold over 460,000 vehicles, with annual sales surpassing 150,000 units in 2022. Its product matrix covers the mainstream price range of 80,000 to 200,000 yuan, including multiple models such as Neta V/AYA, X, L, S series, and GT, accumulating a solid user base. Additionally, Hozon New Energy's overseas first-mover advantage is also prominent. Through localized production in CKD factories in Thailand and Indonesia, Neta has seized the initiative in the Southeast Asian market, laying a foundation for global expansion in terms of capacity and channels. The more critical production resumption potential of Hozon Auto lies in the fact that its production line equipment has remained in good condition since its shutdown in November 2024 for 8 months. More than 400 core team members, including management and technical personnel, are still retained, which means that with external resource injection, it has the ability to quickly resume production and effectively maintain existing market resources and industry position. In addition, the company's base in Tongxiang, Zhejiang, has been recognized as one of the "Top Ten Counties (Cities) for Business Environment" in 2024, providing stable policy and legal guarantees for its post-restructuring development. Regarding the production resumption prospects of Nezha Auto, the management of Hozon New Energy holds an optimistic attitude. They stated that the current production line equipment is operating normally, the core team is stable, and as long as external conditions are met, production can be quickly resumed, regaining market competitiveness. The opening of this pre-recruitment provides a market-oriented path for Hozon New Energy to introduce strategic investors and resolve its operational difficulties. For capital interested in entering the new energy vehicle sector, Hozon New Energy possesses dual qualifications, core technologies, a mature brand, and a global layout, making it a relatively promising investment opportunity. Currently, both within and outside the industry are observing and anticipating; if Hozon New Energy successfully restructures, it may usher in the hope of a "rebirth."