Group 1 - BYD has filed a lawsuit against the U.S. government to reclaim tariffs imposed on imported materials, claiming significant costs for its operations in the U.S. [2] - Over 1,000 companies, including major players like Costco and Toyota, have initiated similar lawsuits against the U.S. government regarding tariffs [2]. - NIO's CEO Li Bin emphasized the importance of optimizing the CBU mechanism to maximize efficiency and minimize costs in the company's operations [6]. Group 2 - Ford's global sales fell by approximately 2% to around 4.4 million units, while BYD's sales reached 4.6 million units, marking a significant shift in the automotive market [6]. - BYD aims to increase its export volume to 1.3 million units in 2025, following a successful year of expansion in Europe, South America, and Asia [6]. - NIO plans to implement a "store partner" program to enhance operational efficiency and market responsiveness, allowing store managers greater decision-making power [6]. Group 3 - The European Union has approved Google's acquisition of cybersecurity startup Wiz for $32 billion, marking Google's largest acquisition to date [9]. - Apollo Global Management is nearing a $3.4 billion loan agreement to finance the purchase of NVIDIA chips for Elon Musk's xAI [10]. - Alibaba's DAMO Academy has released an open-source foundational model for embodied intelligence, RynnBrain, enhancing its AI capabilities [10]. Group 4 - The Shanghai government has opened over 5,200 kilometers of autonomous driving test roads, with plans to expand the testing area further [17]. - Toyota and Nissan reported sales increases in China for January, while Honda's sales continued to decline due to delays in new electric vehicle launches [17]. - The launch of the Robotaxi ride-hailing service by Alipay indicates a growing trend towards automated transportation solutions in urban areas [15].

Core Viewpoint - The U.S. stock market showed mixed results with the Dow Jones increasing by 0.1%, while the Nasdaq and S&P 500 indices decreased by 0.59% and 0.33% respectively [1] Group 1: Stock Performance - Major technology stocks experienced varied performance, with Oracle rising over 2% and Tesla increasing more than 1%, while Google and Broadcom fell over 1% [1] - The residential construction, railway transportation, and tourism sectors saw significant gains, with Marriott Hotels rising over 8%, Hilton Hotels increasing over 3%, and Union Pacific up over 2% [1] - Storage and cryptocurrency-related stocks faced notable declines, with Western Digital dropping over 8%, SanDisk down over 7%, and Seagate Technology falling over 6% [1] Group 2: Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.87%, with popular Chinese stocks such as Li Auto increasing by 2.9%, and BYD and Alibaba both rising over 2% [1] - Other Chinese companies like NIO, Xpeng, New Oriental, and JD.com saw increases of over 1%, while Tencent fell by 1.4% and Meituan dropped by 2.8% [1]

Group 1 - The Nasdaq Golden Dragon China Index has seen a preliminary increase of 0.9% [2] - Notable Chinese concept stocks include: - Autohome rising over 4% - Tencent Music increasing by more than 3% - Li Auto up nearly 3% - Alibaba gaining over 2% - Xpeng Motors, NIO, and JD.com each rising by more than 1% [2]

◎记者 徐潇潇 2026年开年，特斯拉、蔚来、小米等车企发起"7年超低息"车贷竞赛。近期，东风日产推出"0首付，8年 贷"方案，让竞争愈发激烈。 从传统的1至5年期到如今的7至8年期，这场看似"普惠"的营销背后，是车企在新能源渗透率突破54%的 市场变局中的焦虑和突围。然而，当贷款期限超越产品换代周期，当车辆残值难抵未还贷款，在"低月 供"的诱惑之下，一系列隐忧也悄然浮现。 车贷期限"卷"到8年 他表示，传统车贷以车辆为抵押物，期限与车辆残值周期紧密挂钩。如今，"8年贷"已远超一般电动车 的主流换车周期。金融机构的风险模型正在从"资产覆盖风险"转向"用户信用风险"。 在深圳一家东风日产门店，销售人员对上海证券报记者表示："这款车的裸车价是12.99万元，加上购置 税、保险和上牌费，全部落地大概14万元。如果选择8年分期，总利息约27000元，加上裸车的车价，日 供55元左右；选择分期会有2000元政府补贴。" 目前，东风日产已将这一超长期金融方案扩展至全系车型，覆盖N6、N7、轩逸经典等主力车型，同样 支持96期0首付分期。其中，轩逸经典日供最低可至27元。上述销售人员介绍，合作的东风日产汽车金 融是正规持牌 ...

头图|视觉中国 2026年，中国车市迎来了尴尬时刻。 一面是比亚迪2026年1月销量下跌30%，理想下滑7.55%。卷到第一的吉利集团也仅仅微增1%，这个 成绩还是得益于吉利出海的强力拉动，换算到国内市场也难言"涨势喜人"。 相关报告显示，因补贴下滑加之宏观经济影响，消费者信心指数预计仍将低于枯荣线、消费复苏乏 力。2026年乘用车销量预计将达到2400万，增速近一步收窄至1%。新能源汽车或将迎来最后一年二 位数增长。 出品|虎嗅汽车组 作者|邢书博 简单讲， 2026年的中国车市新车不好卖了。 但另一面，则是中国二手车汽车销量呈现冰火两重天的另一面。与新车寒冬不同，二手车市场繁荣的 让人难以置信：中国汽车流通协会日前发布数据显示，2025年， 我国二手车市场交易规模以2010.8 万辆的成绩首次突破2000万辆大关，同比增长2.52% ，累计交易金额12897.9亿元。 其中新能源车 二手车增速或超50%。 消费在哪里，是因为需求在那里。 为什么越来越多的消费者会选择二手车？真实的消费诉求是什么？二手车对车企来说意味着什么？ "买台二手车回老家" 返乡潮通勤是节前二手车增长的真实需求。 在北京的打工人兰子， ...

每经记者｜孙磊 每经编辑｜裴健如 日前，有消息称，理想汽车将在2026年春节后推行"门店合伙人"计划，以提升门店运营效率和市场响应速度。对此，《每日经济新 闻》记者从理想汽车方面确认了该消息的真实性。 据《每日经济新闻》记者了解，在"门店合伙人"计划中，理想汽车将给予店长更大的经营决策权，并优化门店考核机制，将评价标准 从单一的销量考核升级为涵盖销量、利润和用户满意度等多个维度的综合评价体系。 视觉中国图 除此之外，记者从理想汽车方面了解到，其在后续会关闭一些能效低、扩张期铺开的门店，目前还处于评估阶段。 北方工业大学汽车产业创新研究中心主任纪雪洪告诉《每日经济新闻》记者，当汽车品牌进驻商超成为一种潮流，商超租金自然会上 升，从而推高车企或经销商的运营成本。另外，在总体客流量基本稳定的情况下，随着竞争对手增多，各品牌的转化效率往往会出现 下降。从成本角度进行综合评估，若某些商超门店出现较为明显的亏损状况，则退出商超就会成为必选项。 从上述车企的渠道调整来看，成本压力是新势力企业进行调整的核心要素。为降低运营成本，新势力品牌在渠道模式上的另一重要调 整是从直营模式转向代理制或经销商模式。 以小鹏汽车"木星计划" ...

Industry Information - Beijing Economic and Technological Development Zone implements intelligent connected vehicle initiatives to enhance AI's role in data-driven technology [2] - Shenzhen releases a three-year consumption action plan focusing on green electricity consumption and charging infrastructure [2] - The largest high-speed supercharging station in China is operational in Hangzhou [2] - NIO achieves a milestone of 100 million battery swaps, with a network covering 8,627 stations nationwide [39] - CATL signs a comprehensive strategic agreement with Yunnan to promote green energy and transportation [10] Policy Information - The 2026 Central Document No. 1 emphasizes expanding rural consumption and supporting the adoption of new energy vehicles [26] - The Ministry of Transport plans to build over 10,000 charging guns in national highway service areas by 2026 [14] - The 2026 action plan for Beijing's traffic governance includes increasing the coverage of charging facilities [25] - Canada plans to abolish mandatory electric vehicle regulations and reintroduce consumer subsidies for electric vehicles [12] Company Information - BYD launches a new brand "Linghui" focused on the mobility market, aiming to provide affordable and advanced electric vehicles [33] - Xpeng Motors announces the launch of its AIOS 6.0 OTA update, featuring the industry's first proactive service cockpit [35] - Li Auto is set to open its 4,000th supercharging station, enhancing its charging network [39] - Xiaomi Motors updates its city driving assistance feature, lowering the mileage threshold for users [37] - NIO collaborates with a local company to enhance battery swapping services during the Spring Festival [39]

日前，有消息称，理想汽车将在2026年春节后推行"门店合伙人"计划，以提升门店运营效率和市场响应 速度。对此，《每日经济新闻》记者从理想汽车方面确认了该消息的真实性。 据了解，在"门店合伙人"计划中，理想汽车将给予店长更大的经营决策权，并优化门店考核机制，将评 价标准从单一的销量考核升级为涵盖销量、利润和用户满意度等多个维度的综合评价体系。 除此之外，记者从理想汽车方面了解到，其在后续会关闭一些能效低、扩张期铺开的门店，目前还处于 评估阶段。 保时捷中国总裁及CEO潘励驰此前表示，动态调整渠道网络，是持续变化的市场对车企提出的要求。就 目前来看，除理想汽车外，不少汽车品牌都在根据新的市场风向校准航向，无论是"瘦身"转型还是扩 张，汽车销售渠道的洗牌和重构正在发生。 新势力车企对渠道进行收缩调整 事实上，特斯拉、小鹏汽车、蔚来等新势力品牌也在持续优化渠道布局，关闭部分能效低下的门店。 例如，小鹏汽车早在2023年便启动"木星计划"，关闭经营不善、效率低下的直营门店；蔚来亦在全国多 地优化牛屋布局；特斯拉也曾关闭过不少门店。 有分析认为，企业在扩张期为了快速占领市场可能会大量开设门店，但部分门店因选址不当、市场饱 ...

Group 1: Core Strategy - The chairman of Li Auto, Li Xiang, outlined the company's embodied intelligence strategy, aiming to evolve into an embodied intelligence enterprise with the ultimate form of a car being a robot [1] - Li Auto has made significant organizational changes, including the establishment of new teams focused on software and humanoid robots, indicating a shift towards an AI-centric approach [1][4] - The company plans to dismantle its autonomous driving team to pave the way for broader applications of embodied intelligence, positioning itself for competition in the high-end automotive market [1][4] Group 2: Industry Context - Beijing's supportive policies and initiatives, such as the "Beijing Embodied Intelligence Technology Innovation and Industry Cultivation Action Plan (2025-2027)," provide a fertile ground for the development of the embodied intelligence industry [2] - The automotive industry is increasingly exploring the integration of robotics, with companies recognizing the potential of embodied intelligence as a new growth avenue amid a saturated market [4] Group 3: Challenges and Considerations - The transition to embodied intelligence faces multiple challenges, including technological bottlenecks and the difficulty of commercializing complex tasks [5][6] - While embodied intelligence is seen as a long-term trend, the current cash flow for companies like Li Auto still heavily relies on their core automotive business [7] - The development cycle for embodied intelligence is lengthy and requires sustained investment and patience, emphasizing the need for a steady approach rather than a rush for immediate results [8][9]

Core Insights - Li Auto's chairman, Li Xiang, outlined the company's strategy to evolve into an embodiment intelligence enterprise, viewing the ultimate form of automobiles as robots [1] - The company has undergone significant organizational restructuring to support this strategic shift, including the establishment of new teams focused on software and humanoid robots, and the reorganization of its autonomous driving department [1] - Li Auto aims to become a leader in the embodiment intelligence sector within the next 3-5 years, indicating a long-term vision for the integration of AI into its business model [1] Company Strategy - The strategic shift towards embodiment intelligence is not merely a departmental reorganization but a critical move to position Li Auto in the competitive landscape of AI-driven automotive technology [1] - The company is responding to a new wave of AI competition, with Li Xiang asserting that the competition in the mid-to-high-end automotive market will fundamentally revolve around embodiment intelligence [1][2] - Li Auto's transition aligns with broader industry trends, as other automakers also explore the integration of robotics into their vehicles, indicating a growing market for "car + robot" solutions [2] Industry Context - Beijing's supportive policies and initiatives, such as the "Beijing Embodiment Intelligence Technology Innovation and Industry Cultivation Action Plan (2025-2027)," provide a conducive environment for companies like Li Auto to innovate and grow [2] - The automotive industry is entering a phase where growth must come from new avenues, with embodiment intelligence emerging as a significant direction for transformation [2] - The inherent advantages of automotive companies in the embodiment intelligence space stem from the shared core architecture of perception, decision-making, and execution between smart vehicles and intelligent robots [2] Challenges and Considerations - The transition to embodiment intelligence faces multiple challenges, including high costs of advanced technologies and the need for a mature commercial framework [3] - Current cash flow for companies like Li Auto still primarily comes from their core automotive business, highlighting the need for a balanced approach during the transition [3] - The development of embodiment intelligence requires long-term investment and patience, as the path to commercialization and product differentiation is still evolving [3]