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喺馬來西亞嘅汽車市場，好多買家喺揀車嘅時候都會拿 凌志 LS 同 宝马 M3 做比較。我哋今日從多個方面做一個詳細嘅比較，俾你省返做功課嘅時間。
凌志 LS 喺馬來西亞嘅 OTR 售價係 RM 1,250,000 - 1,531,000，總共有 2 個版本，包括 2021 500 Executive Kiriko（RM 1,531,000）、2021 500 Luxury（RM 1,250,000） 等。
宝马 M3 喺馬來西亞嘅 OTR 售價係 RM 847,800 - 847,800，總共有 1 個版本，包括 Standard（RM 847,800） 等。
從價錢嚟睇，宝马 M3 嘅起步價比 凌志 LS 便宜咗 RM 402,200。老實講，喺呢個價位段，幾千蚊嘅差距其實唔算大，關鍵始終係睇整體嘅性價比同長期使用成本。
凌志 LS 配備 3.0L Turbo，馬力 350 hp。官方油耗 12.0 L/100km。
宝马 M3 配備 3.0L Turbo，馬力 350 hp。官方油耗 12.0 L/100km。
兩部車用咗同一套動力系統，所以日常行車嘅感覺基本冇分別。油耗方面都幾接近，唔使太糾結呢一點。
凌志 LS 車身長 4400 mm，後尾箱 400 L。
宝马 M3 車身長 4400 mm，後尾箱 400 L。
兩部車嘅尺寸幾乎一樣，車內空間差別唔大。呢個級別嘅車，日常使用完全夠用。
凌志 LS 採用 FWD 驅動方式。
宝马 M3 採用 FWD 驅動方式。
兩部車嘅驅動方式一樣，都係 FWD，日常駕駛感受唔會有太大區別。
總體嚟講，凌志 LS 同 宝马 M3 都係馬來西亞市場幾唔錯嘅車款。揀邊一輛，關鍵始終係睇你嘅個人需要同預算。建議大家做好功課，多比較幾間車行嘅報價，再去試駕先至做最終決定。買車係件大事，花少少時間做功課絕對唔會錯。
車型概覽
吉利EX2 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講香港停車場同窄路使用，幫你用買家角度篩走唔適合嘅選擇。 近期市場討論到「吉利EX2正式於巴西本土投產 加速當地市場佈局」，代表呢類車型仍然有一定關注度。
售價仍待確認，買家可以先把佢放入候選名單，等價格落實後再同同級車逐項比較。
購車價格指南
吉利EX2 目前售價仍未清晰，較理性嘅做法係先睇版本、車身大小同動力形式，等價格落實後再決定值唔值得落訂。
如果有幾個版本可揀，可以先將 2025 310km 後驅版（價格待確認）、2025 410km 後驅版（價格待確認）、2026 310km 後驅版（價格待確認）、2026 401km 後驅版（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。
核心規格重點
睇 吉利EX2 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。
30.12/40.16 kWh 嘅電池容量，真正意義係可以幫你估算一星期通勤同周末出車要唔要中途補電。 310/410/401 km 嘅續航參考，對住喺新界、九龍同港島之間跨區行車嘅用家會更實際。 10.9/10.7 kWh/100km 嘅耗電表現，會影響你去快充站或者屋苑充電位嘅頻率。 58/85 kW、130/150 N·m 嘅輸出，令高速併線同短距離超車更有信心。
優缺點分析
吉利EX2 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：日常能源成本有基本參考、電池同續航資訊有助安排通勤同補電、動力輸出對高速同上斜更有底氣。
要留意嘅係，要先確認屋苑、公司或常去商場嘅充電條件、香港停車場同窄路使用要留意車身闊度。呢啲唔一定係缺點，但係落訂前應該先諗清楚。
買家常見問題
買 吉利EX2 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。
常見疑問係「吉利 Geely 星願 (EX2) 係一款點樣嘅純電車？」簡單講，吉利 Geely 星願 (EX2) 係一款全新設計嘅純電動五門掀背小型車。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。
同級對比內容
將 吉利EX2 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先等售價落實，再決定佢應該同邊個級距比較、再睇動力係咪足夠應付高速併線同滿載、再比較能源成本同補能便利、最後睇車身大小、座位同尾箱是否適合家人。
咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。
用車全周期指南
擁有 吉利EX2 最重要係先諗清楚充電節奏。屋苑、公司或者常去商場只要有穩定充電選項，電動化用車就會容易相處好多。
如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。
BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.
The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.
Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.
The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.
Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes EffectThe high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.
The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.
Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.
In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.
Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.
Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge VolumeMay marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.
From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.
As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.
Model Overview
Whether the Audi RS Q8 is worth buying depends not on how attractive it looks, but on whether it can meet your real vehicle needs. This article will focus on its lifestyle adaptability when compared with peer vehicles.
Regarding versions, the Audi RS Q8 can currently be compared around the 2025 4.0T quattro.
Purchase Price Guide
When evaluating the purchase budget for the Audi RS Q8, it is recommended to start with version positioning and subsequent ownership costs. Price is not the only focus; what truly determines if it's cost-effective is whether those features will be used daily.
If you hesitate between a few versions, you can include the 2025 4.0T quattro in the same list for comparison. Commuters should prioritize comfort and safety first, while highway frequent drivers should value power, driver assistance, and cabin convenience more.
Core Parameter Summary
Looking at the core specifications of the Audi RS Q8, the most important thing is to translate the numbers into real-life experiences.
A Twin-Turbocharged, 8-cylinder power foundation is suitable for judging whether city following and highway cruising are easy. The output of 600 Ps and 800 N·m truly matters when fully loaded, going uphill, or overtaking to avoid being overburdened. Vehicle length 5012 mm, width 1998 mm, height 1694 mm, wheelbase 2998 mm can help you predict parking difficulty and rear passenger space. The settings of the automatic transmission, gearbox and four-wheel drive layout will affect startup smoothness, wet road stability, and long-distance cruising feel.
Pros and Cons Analysis
The advantages of the Audi RS Q8 need not be exaggerated; what is truly valuable is whether it can make daily use more worry-free: power output can support high-speed and overtaking needs, and space and body dimensions make it easy for family buyers to predict practicality.
Note that city parking and narrow sections still depend on personal driving habits. These are not deductions, but life details that should be thought through clearly before ordering.
Common Purchase Q&A
Before purchasing an Audi RS Q8, the question buyers ask most often is not about a single specification, but whether it can fit into their life.
Who is this car for? Buyers who prioritize lifestyle adaptability when comparing it with peer vehicles. What should family users look for? Prioritize rear seat riding, child seats, luggage, and whether daily entry/exit is convenient. Will driving it daily be troublesome? If energy costs, parking convenience, and version configurations fit your life rhythm, it will be easier to coexist with.
Competitor Comparison Content
When putting the Audi RS Q8 into a list of peer vehicles, it is not recommended to look only at brand or appearance. The truly useful comparison order is: first see if power is sufficient for highway and full load, finally see if space is suitable for family and luggage.
The results filtered this way are closer to daily life. You will be clearer on whether it suits city commuting, family transportation, long-distance cruising, or is more suitable as a choice for those seeking individuality.
Full Vehicle Usage Lifecycle Guide
The focus of owning an Audi RS Q8 is to confirm that insurance, road tax, maintenance, and tire costs are all within acceptable ranges. Buying a car does not end with a single payment, but requires daily interaction.
If you often drive on the North-South Expressway, power and cabin comfort are more important than a simple low price; if mostly in the city, parking flexibility, visibility, and low-speed smoothness will have a greater impact on mood.
車型概覽
哈弗M6 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講高速巡航、併線同超車信心，幫你用買家角度篩走唔適合嘅選擇。
售價仍待確認，買家可以先把佢放入候選名單，等價格落實後再同同級車逐項比較。
購車價格指南
哈弗M6 目前售價仍未清晰，較理性嘅做法係先睇版本、車身大小同動力形式，等價格落實後再決定值唔值得落訂。
如果有幾個版本可揀，可以先將 2024 1.5T 雙離合版（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。
核心規格重點
睇 哈弗M6 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。
渦輪增壓、4 個 汽缸、1497 mL 排量 嘅動力底子，重點係市區跟車夠唔夠順、高速巡航會唔會吃力。 150 Ps / 110 kW、218 N·m 嘅輸出，對滿載、上斜同超車都比單睇馬力數字更有意思。 車長 4664 mm、車闊 1830 mm、車高 1729 mm、軸距 2680 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。 濕式雙離合(DCT)、前置前駆 會影響起步順滑度、濕地穩定感同長途巡航性格。
優缺點分析
哈弗M6 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：動力輸出對高速同上斜更有底氣、空間同車身尺寸方便家庭買家預判實用性。
要留意嘅係，香港停車場同窄路使用要留意車身闊度、售價未清晰前唔應該太早用性價比落結論。呢啲唔一定係缺點，但係落訂前應該先諗清楚。
買家常見問題
買 哈弗M6 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。
常見疑問係「哈弗 Haval M6 定位係點樣？」簡單講，哈弗 Haval M6 係一款主打性價比嘅超值家用 SUV。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。
同級對比內容
將 哈弗M6 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先等售價落實，再決定佢應該同邊個級距比較、再睇動力係咪足夠應付高速併線同滿載、最後睇車身大小、座位同尾箱是否適合家人。
咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。
用車全周期指南
擁有 哈弗M6 唔係買車一刻就完結，之後仲有保險、輪胎、保養、泊車同日常能源成本要處理。
如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。
車型概覽
JAECOO J5 EV 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講同級車比較，幫你用買家角度篩走唔適合嘅選擇。
零售價 HK$ 170,968、完稅價 HK$ 258,000 令預算位置更清楚，買家可以先估算月供、保險、泊車同日常開支。
購車價格指南
JAECOO J5 EV 嘅購車預算可以先由 零售價 HK$ 170,968、完稅價 HK$ 258,000 開始計。香港買車唔只係睇車價，月供、保險、牌費、泊車同能源成本都會影響每月壓力。
如果有幾個版本可揀，可以先將 2026 402km 高級版（HK$ 258,000）、2026 Skyline Edition（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。
核心規格重點
睇 JAECOO J5 EV 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。
60.9 kWh 嘅電池容量，真正意義係可以幫你估算一星期通勤同周末出車要唔要中途補電。 16.5 kWh/100km 嘅耗電表現，會影響你去快充站或者屋苑充電位嘅頻率。 155 kW、288 N·m 嘅輸出，令高速併線同短距離超車更有信心。 車長 4380 mm、車闊 1860 mm、車高 1650 mm、軸距 2620 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。
優缺點分析
JAECOO J5 EV 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：預算位置清楚，方便同同級車直接比較、日常能源成本有基本參考、電池同續航資訊有助安排通勤同補電。
要留意嘅係，要先確認屋苑、公司或常去商場嘅充電條件、香港停車場同窄路使用要留意車身闊度。呢啲唔一定係缺點，但係落訂前應該先諗清楚。
買家常見問題
買 JAECOO J5 EV 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。
常見疑問係「JAECOO J5 EV 係咩類型嘅車？」簡單講，JAECOO J5 EV 係一款純電動嘅小型 SUV（B-Segment）。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。
同級對比內容
將 JAECOO J5 EV 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先用 零售價 HK$ 170,968、完稅價 HK$ 258,000 鎖定預算圈、再睇動力係咪足夠應付高速併線同滿載、再比較能源成本同補能便利、最後睇車身大小、座位同尾箱是否適合家人。
咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。
用車全周期指南
擁有 JAECOO J5 EV 最重要係先諗清楚充電節奏。屋苑、公司或者常去商場只要有穩定充電選項，電動化用車就會容易相處好多。
如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。
車型概覽
平治CLA系列 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講日常駕駛是否容易上手，幫你用買家角度篩走唔適合嘅選擇。 近期市場討論到「混能版平治CLA開售 意向價$499,000」，代表呢類車型仍然有一定關注度。
零售價 HK$ 300,465、完稅價 HK$ 499,000 令預算位置更清楚，買家可以先估算月供、保險、泊車同日常開支。
購車價格指南
平治CLA系列 嘅購車預算可以先由 零售價 HK$ 300,465、完稅價 HK$ 499,000 開始計。香港買車唔只係睇車價，月供、保險、牌費、泊車同能源成本都會影響每月壓力。
如果有幾個版本可揀，可以先將 2026 CLA 220 AMG Line（HK$ 499,000）、2025 CLA 200 Coupe Facelift（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。
核心規格重點
睇 平治CLA系列 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。
平治CLA系列 現階段最值得留意係車型定位同版本方向，詳細取捨應該等價格同規格更清楚再作決定。
優缺點分析
平治CLA系列 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：預算位置清楚，方便同同級車直接比較。
要留意嘅係，最終取捨會落喺版本配置、保險同長期保養成本。呢啲唔一定係缺點，但係落訂前應該先諗清楚。
買家常見問題
買 平治CLA系列 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。
常見疑問係「平治 Mercedes-Benz CLA 系列 適合年輕人嗎？」簡單講，非常適合，平治 Mercedes-Benz CLA 系列 外型非常動感。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。
同級對比內容
將 平治CLA系列 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先用 零售價 HK$ 300,465、完稅價 HK$ 499,000 鎖定預算圈。
咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。
用車全周期指南
擁有 平治CLA系列 唔係買車一刻就完結，之後仲有保險、輪胎、保養、泊車同日常能源成本要處理。
如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。
車型概覽
哈弗二代大狗 PHEV 值唔值得睇，第一步唔係望牌子或者外形，而係睇佢能唔能夠配合你嘅香港日常。 呢篇會集中講香港停車場同窄路使用，幫你用買家角度篩走唔適合嘅選擇。
售價仍待確認，買家可以先把佢放入候選名單，等價格落實後再同同級車逐項比較。
購車價格指南
哈弗二代大狗 PHEV 目前售價仍未清晰，較理性嘅做法係先睇版本、車身大小同動力形式，等價格落實後再決定值唔值得落訂。
如果有幾個版本可揀，可以先將 2024 1.5T 102km 四驅版（價格待確認） 放喺同一張清單。日常通勤重視舒適同易用，家庭買家就要優先睇後排、尾箱同安全配置。
核心規格重點
睇 哈弗二代大狗 PHEV 嘅規格，重點唔係背數字，而係理解佢喺香港用車場景會帶嚟咩分別。
18.74 kWh 嘅電池容量，真正意義係可以幫你估算一星期通勤同周末出車要唔要中途補電。 167 Ps / 123 kW / 220 kW、243/510 N·m 嘅輸出，令高速併線同短距離超車更有信心。 車長 4705 mm、車闊 1908 mm、車高 1780 mm、軸距 2810 mm 可以幫你預判商場停車場、屋苑車位同後排腿部空間。 混合動力專用(DHT)、前置四駆 會影響起步順滑度、濕地穩定感同長途巡航性格。
優缺點分析
哈弗二代大狗 PHEV 嘅優點唔需要講到天花龍鳳，真正有價值係佢能唔能夠令日常用車更省心：電池同續航資訊有助安排通勤同補電、動力輸出對高速同上斜更有底氣、空間同車身尺寸方便家庭買家預判實用性。
要留意嘅係，要先確認屋苑、公司或常去商場嘅充電條件、香港停車場同窄路使用要留意車身闊度。呢啲唔一定係缺點，但係落訂前應該先諗清楚。
買家常見問題
買 哈弗二代大狗 PHEV 之前，真正要問嘅唔係單一規格，而係佢可唔可以融入你每日嘅生活節奏。
常見疑問係「哈弗 Haval 二代大狗 PHEV 變速箱係邊款？」簡單講，哈弗 Haval 二代大狗 PHEV 配備咗 2 速 DHT 混能專用變速箱。 放到實際用車，就係要睇佢對通勤、泊車、家庭乘坐同長期成本有幾大幫助。
同級對比內容
將 哈弗二代大狗 PHEV 放入同級車清單時，唔建議只用外形或者品牌光環決定。比較順序可以係：先等售價落實，再決定佢應該同邊個級距比較、再睇動力係咪足夠應付高速併線同滿載、再比較能源成本同補能便利、最後睇車身大小、座位同尾箱是否適合家人。
咁樣篩選會貼近香港買家真實生活：平日塞車、商場泊車、周末去新界、甚至一家人出入，先係一部車每日要面對嘅考驗。
用車全周期指南
擁有 哈弗二代大狗 PHEV 最重要係先諗清楚充電節奏。屋苑、公司或者常去商場只要有穩定充電選項，電動化用車就會容易相處好多。
如果你主要喺市區行，視野、低速順滑度同泊車輔助會好影響心情；如果經常行高速或跨區，座椅舒適度、隔音同動力從容感會更重要。
In Autumn 1958, SAIC's automotive history began in a "lane-side workshop".
Without large machine tools or manufacturing bases, the first generation of car builders relied solely on disassembling overseas sample vehicles. With just hammers in hand, they hammered out car bodies and sheet metal. Prior to "National Day" that year, Shanghai's first "Phoenix" sedan officially rolled off the line and went to Beijing for the parade. This car, forged in the most primitive handmade style, completed SAIC's leap from 0 to 1.
Everything at SAIC Group started with this "Phoenix" sedan.
But what truly moved me was not those old business stories of "golden phoenixes hatching from grass nests", nor the countless industry records created in the past; but rather why, 71 years later today, facing unprecedented technological changes, SAIC can still lead the way into the "100-million club" and demonstrate strong vitality and calling power in the game of static market stock.
In China's and even global business history, manufacturing enterprises that can span decades and reach a 100-million volume level are rare. Previously, only Toyota, Volkswagen, General Motors, Ford, Honda, Nissan, and Hyundai had crossed this threshold.
SAIC is the eighth and also the first Chinese brand. Under the wheels of the times, countless once-glorious companies fell like meteors. SAIC Group with 71 years of automotive foundations is absolutely a corporate sample worth deep study.
How did one enterprise "fight" for 71 years?
Today's business world is obsessed with "speed". Brands are keen on creating concepts, grabbing windfalls, and betting on short-term hit products. Under the drive of capital discount rates, countless enterprises are struggling to run in the shroud of algorithms.
But in the eyes of SAIC Group that has traversed long cycles, the business world has another set of heavier logic: not looking at windfalls, but only at the era's "topic/questions".
SAIC's ability to cross a 71-year long cycle lies in the fact that it has always been in sync with the pulse of the times. It never acts as a speculator of windfalls, but rather as the writer of every era's topic. When we trace back each breakout by SAIC at key nodes, we can understand why it became the first automotive group in China to cross the "100-million" threshold—those openings written in history are essentially the most accurate responses of SAIC to the anxieties of that time.
Starting from a lane-side workshop in the 1950s, to taking the road of reform and opening up first in the 1980s, after 6 years of difficult negotiations to establish China's first passenger car joint venture SAIC Volkswagen, to creating the "Shanghai Speed" of 23 months from factory construction to vehicle delivery in the 1990s via SAIC GM deepening joint venture cooperation, to strongly attacking the independent brand in the early 2000s, to actively implementing national instructions in the last decade and leading the comprehensive transformation to new energy... In nearly a century, SAIC experienced the transformation of the planned economy, the baptism of the market economy, the impact of the globalization wave, and the ruthless involution in the deep blue waters of intelligence and electricity today. Every technological iteration and industry reshuffle was a "life-or-death" moment, but SAIC stood steadily on the wave of the times every time.
SAIC inherited in the wave of the times is anchored on the "understand cars better understand you" causal chain with low variables and high reuse. Because no matter how drastic the external environment changes, human desire for beautiful mobility, certainty pursuit of high quality and safety, will not change due to dynastic changes or technological revolutions. People in the past needed a reliable fuel car to shelter from wind and rain, people today also need a smart cockpit with communication understanding and high safety.
When such precise response to user needs is repeatedly verified, classics are formed.
In 1983, the first Shanghai Santana sedan was successfully assembled, not only allowing Chinese families to use world-class quality cars, but also driving the domestication enlightenment of the entire Chinese auto parts system; In 2016, SAIC and Alibaba cross-boundary cooperation launched the world's first mass-produced Internet car Roewe RX5, letting cars evolve from cold mechanical tools to intelligent terminals with temperature; Until today, whether it is the Roewe i6 with 60,000 yuan level standard Qualcomm 8155 chip and Doubao Large Model, or the Shangjie Z7 with whole series standard Huawei Qiankun Smart Driving ADS 4.1 and 896-line LiDAR, or the Huajing S bringing high-level smart driving into the 150,000 yuan level family market, SAIC is always responding to consumer expectations with practical actions of "equity-driven advancement".
For every car delivered, there is one more point of trust. When this utility is verified 100 million times, trust becomes the most solid competitive barrier.
We can see the closed loop of this causal chain in countless users' real lives.
At the SAIC Volkswagen Anting base, the 99,999,999th new car delivered—Volkswagen ID.ERA9X—its owner is former German men's football national team player Yang Chen. As the first Chinese player to land in the Bundesliga, Yang Chen's life has always carried a resilience of "dare to move forward, also need to be steady". He witnessed instantaneous changes on the field, firmly believing that true strength is never a flash in the pan, but long-term trust and solidity. His choice of the flagship SUV of SAIC Volkswagen's new new energy sequence is exactly this long-termism life background and German exquisite car-making craftsmanship deep resonance.
Similarly spanning time and space is also Natalia, an intern doctor in London, UK. That classic MGB sports car of her grandfather was her childhood's most shining memory, this emotional bond prompted her to become the owner of MG4EV Urban. Two generations, two cars, one brand, this is the perfect fusion of classic inheritance and contemporary lifestyle.
Whether in the East or West, time has verified quality, quality precipitated trust.
Opposing "Organizational Entropy Increase", Reshaping Industrial Base with System "Negative Entropy Flow"
Grand delivery numbers are just the result on the water surface, what truly supports the 100-million building underneath is the extremely rigorous industrial moat of the enterprise for decades.
In physics, there is a hopeless "Law of Entropy Increase": Any closed system will spontaneously move from order to disorder, eventually returning to chaos.
The automotive industry is exactly a huge quagmire easy to fall into "Entropy Increase"—when tens of thousands of parts, millions of industrial workers, and long time lines intertwine, human nature's fatigue, compromise, and "good enough" farming thinking, will let the huge production line go out of control like a virus.
All multinational auto companies in the world, always doing one thing is maintaining the high order of the system and product consistency.
In 1987, when SAIC was fully attacking Santana domestication, the supporting parts enterprises were still full of crude workshop habits. SAIC did not first preach grand quality strategies, but unexpectedly launched a "hygiene reform" across the entire group—forcingly installing toilet paper rolls and dryers in restrooms.
In the "Broken Windows Theory" of criminology, an unpatched broken window will condone more destruction. SAIC sharply noticed that employees using newspaper to defecate causing pipelines to clog repeatedly, was the most dangerous "broken window" in the large industrial system. If the enterprise condones this most basic disorderly behavior, then on the micron-level precision assembly line, compromise on errors will inevitably breed.
This detail "Toilet Reform" was the first "Negative Entropy Flow" injected by SAIC into old farming habits, it reshaped the behavior bottom line of modern industrial workers in an almost fanatical way.
And when facing the temptation of huge commercial interests, SAIC showed the extreme "Instrumental Rationality" advocated by Max Weber—to pursue absolute standards, dare to cut off all emotional ties and sunk costs.
In 1998, as the main force of SAIC core parts autonomous upward, Yanfeng Company, to attack Buick supporting project, specifically invested 600 million to build new factories. When the first batch of completed bumpers were sent to quality inspection, it actually reached the conventional international standard of no more than ten dust fall points per square centimeter.
However, when the joint venture foreign party proposed the harsh requirement of "fall points cannot exceed five", under the heavy pressure of huge sunk cost and delivery cycle, human nature's instinct is usually to find excuses for compromise. But the General Manager of Yanfeng Company at that time, in front of everyone's eyes, brought out a saw, and cut the huge cost bumper into two halves on the spot. "Things customers don't want, must be sawed off!"
This saw, not only sawed off unqualified products, but also Chinese local manufacturing's accumulated "human society" and "get by" path dependence over the past few decades.
This violent demonstration of destroying high-value assets to defend absolute standards, instantly cleared the system internal gambling mentality, letting "craftsmanship spirit" instrumental rationality completely overcame human nature's weaknesses.
This gene of iron-fisted opposition to entropy increase, has been strictly continued to today's smart electric track.
SAIC self-developed "Zero Combustion Magic Cube Battery", its core key technology is why able to win the Second Prize of State Science and Technology Progress Award, is exactly built on redundancy safety rules 6 times higher than national standard limit tests.
When modern capital is obsessed with short-sighted high turnover, SAIC uses defenses built for decades to stubbornly guard this seemingly "clumsy" principle.
100 million car deliveries, far from accidental time compound interest, is this giant enterprise success over 70+ years, successfully fought off 100 million times system entropy increase necessary result.
This system resilience opposing entropy increase, also reflects in SAIC current market performance. Just passed May, SAIC Group whole vehicle sales 349,000 vehicles, Jan-May cumulative 1.651 million vehicles, continuing to lead Chinese auto industry. Independent brand proportion first time broke 70%, new energy vehicles surged 46.5%, overseas market surged 45.9%. 100-million historical marker and current sales leading, jointly verify SAIC full-link competitiveness from system to market.
Seeing All Beings, Eco-Winning Era Foresight
In the movie "The Grandmaster" there is a very transparent line, martial artists have three realms: "See Self, See Heaven and Earth, See All Beings".
Today SAIC stands at the era gateway of 100 years unprecedented great changes in automotive industry. It cannot only be self-satisfied in the long river of history and glorious merit roll, it must stand up to "See All Beings". Its opponents are no longer any specific peers, but technology leap gaps, and those static self-sealing, closed-doors-to-build-cars island effects.
This is the most ruthless elimination era, also the best co-creation era.
At the Delivery Ceremony on May 28, 2026, appeared an extremely deep meaning, can even be recorded in Chinese auto history scene: SAIC handed that representing group 70 years car-making foundation and forefront technology collection complete the world 100 millionth car—IM LS9 Hyper, solemnly handed to deep strategic partner Momenta CEO Cao Xudong.
Partner become owner, is SAIC "See All Beings" most vivid, most earth-shaking footnote.
Cao Xudong stated on site, Momenta L3 Level autonomous driving ability will launch on SAIC first, he not only will personally drive this car, more plans in development process first use it to verify test.
To thoroughly break technical walls, SAIC resolutely gave up traditional host plant attempt to take full responsibility "soul obsession", firmly chose "open to the world, beauty shared together" open ecosystem.
With Huawei Qiankun comprehensive deepening strategic coordination, not only launched new brand "Shangjie", but also let Huajing series become 150,000 yuan level full series standard Huawei Smart Driving breakthrougher; With Audi signed cooperation agreement, based on next generation intelligent digital platform jointly develop 4 AUDI new high-end intelligent electric new cars, opened Chinese technology reverse empowering foreign brand "Joint Venture 2.0" era; With Momenta deep co-create smart driving large model, and let this set industry first tier scheme horizontal empower to IM, Volkswagen, Audi, Buick, Cadillac multiple brand matrix.
And joint venture new energy also welcomed strong return. May SAIC GM new energy vehicles sales 13,000 vehicles, year-on-year surge 75%, Zhijing E7 launch first month delivery broke 10,000. May SAIC Volkswagen new energy vehicles sales nearly 10,000 vehicles, year-on-year growth 34.3%; New launched ID.ERA 9X cumulative delivery exceeded 7,000 vehicles; At end of May Greater Bay Area Auto Show, equipped with new generation "Golden Super Mix" technology Tiguan L ePro, Passat ePro, and Audi Smart Performance Flagship SUV AUDI E7X sequentially launched.
SAIC knows, true "Understand You", needs gather global top wisdom, no technical walls, no do ecological island.
Not only in domestic, in vast overseas market, SAIC also in practicing "See All Beings" grand narrative.
2025 released "Glocal (Global + Local) 3.0 Strategy", marks SAIC from single product export thoroughly to systematic globalization leap. In Europe, MG use Frankfurt European Engineering Center for deep localization customization R&D; In Southeast Asia, SAIC Maxus let Deliver 5 pure electric logistics vehicle batch delivery to DHL Senior VP, help this global logistics giant Singapore realize green upgrade; In commercial vehicle going abroad strategy, SAIC not only set sales growth over 50% grand target, but also overseas dealer historical positioning upgraded to "co-existing win-win wealth creation partner", and in Europe heavy asset weave global parts warehousing network. SAIC globalization, no longer simply selling cars, but with global industry chain and ecosystem deep integration.
"See All Beings" background color, more lies in to each ordinary individual warm protection.
At Delivery Ceremony, the 100 million 100th owner identity especially attracted attention—he is public welfare life class self-media "Western Heroes" blogger Liu Jia. This ordinary barber, 5 consecutive years rain or shine driving deep into Guangxi mountains, only to give left-behind children haircut, send company. When his old car broke down on mountain road, Buick first time reached out help, and invited him experience having South German TÜV Eye Protection Smart Roof Light and Zero Formaldehyde Certified Buick Zhijing E7 "Full Marks Cockpit". SAIC give this "100%" respect to Micro-light Guardian, let this 100th car became to "Guard" value most warm echo.
Same story also happened in Shaanxi Lantian 85 born village secretary Pang Fuqiang. To give 74 left-behind elderly meal delivery, he everyday persist running 8-9 kilometers, SAIC-GM-Wuling through "Striver Special Plan" for him delivered a Rongguang Electric Version Micro Van, with practical action salute grassroots strivers.
Enterprises that can cross cycles, are all stick to original intention, and actively embrace ecosystem, care society enterprises. When an enterprise can extract the essence of breakthrough and quality in history sorting, and let go of the greed of technological exclusivity in the torrent of the times, spreading the dividends of technology to the broadest audience, this is the enterprise's most substantial strength.
In 1958, a broken old hammer, hammered out the historical legend of major power auto industry in an alley workshop. In 2026, a relay delivery spanning Asia-Europe continent, connecting Shanghai, London, Jakarta, Singapore, witnessed 100 million trusts magnificent convergence.
Time will ruthlessly eliminate all capital bubbles and technology gimmicks that cannot withstand testing, then cast what remains into an unshakable base.
An enterprise able to complete 100-million vehicle era feat, rely on not only production line crazy stacking, rely on a industrial civilization resilience—that dare to publicly saw off unqualified bumper extreme reverence, that no set technical walls, with whole industry open co-creation broad mind, that from alley workshop all along struggle, finally 21 times entered Fortune Global 500 self-evolution.
TCM often says "Righteousness exists within, evil cannot invade", enterprise development is also so. Those enterprises that fell down in the time torrent, often not by external opponents defeated, but by internal urgent benefit "evil fire" swallowed.
100 million vehicles never was SAIC high song rapid progress end point, but from "scale leading" toward "ecological leading" new starting line. When system "Righteousness exists within", time no longer be step-by-step pressing enemy, but most loyal "Partner".
We have absolute reasons to believe, in smart electric new era magnificent second half, this "100-million vehicle auto maker" still possess generations passed down, endlessly magnificent reserve power.
BYD officially released the May 2026 production and sales flash report, with new energy vehicles from all brands reaching a monthly sales volume of 383,453 vehicles, a slight increase of 0.26% year-on-year, achieving year-on-year positive growth in monthly sales after ten months; among them, passenger car deliveries reached 376,990 units, surging 19.4% month-on-month, wiping out the pain of previous model iterations, presenting a new pattern where the domestic base is stable, overseas sales are soaring, and high-end brands are scaling up across the board. Amidst the market environment of intensified competition in the domestic new energy sector, Tesla FSD entering China, and an intense launch of independent new products, it has forged a unique structural growth path.
The Dynasty and Ocean main brands combined sold 330,215 vehicles in May, accounting for over 80% of the group's total sales, remaining the stabilizer for BYD's sales volume. The full series had 8 models exceeding 20,000 units in monthly sales, covering products from 50,000 entry-level commuter to 200,000 home SUV.
Inside the Dynasty Network, the Yuan family sold 56,691 units, and the Song family 51,370 units. Both crossed the 50,000 threshold, becoming two major sales pillars for the brand, catering to home commuter and urban-rural travel needs; the Qin family followed closely with a stable performance of 28,360 units. The Han and Tang series maintained a volume in the six-thousand range, deeply cultivating the mid-to-large home sedan and SUV niche markets; the brand new model Xia is in the market cultivation phase, delivering 1,810 units monthly, with potential for steady volume growth as channels expand.
The Ocean Network's growth momentum is even more rapid, with 5 models entering the 20,000 club across the series: Sealion 42,615 units, Seal 34,117 units, Seagull 39,919 units, Dolphin 22,260 units, and Song PLUS 27,755 units. Among them, Seagull remains the best-selling entry-level commuter model thanks to its affordable pricing of 60,000-80,000. Sealion, as a new volume model, stands firm at the 40,000 level upon launch, filling the mid-size SUV product gap in the Ocean Network and perfecting the Ocean product tier layout. From commuter small cars to compact SUVs, the two main brands rely on DM-i hybrid and pure electric dual-line technologies to牢牢锁住 the mainstream home market share within 150,000 domestically.
Fang Cheng Bao Year-on-Year Surges 139.7%, Brand Upward Positioning Takes EffectThe high-end matrix of Denza, Fang Cheng Bao, and Yangwang sold a combined 46,489 vehicles in May, officially breaking away from the niche positioning to become a new pivot for BYD's brand premium and profit growth, breaking the industry curse of difficulty in high-end breakthrough for domestic brands.
The off-road brand Fang Cheng Bao sold 30,186 units monthly, surging 139.7% year-on-year, creating a new high in monthly sales since the brand launched. Its Titanium 7 model sold 18,280 units monthly, while Leopard 5 and Leopard 8 output remained stable, continuously squeezing the survival space for joint venture and imported models in the 250,000-400,000 hardcore off-road niche market.
Denza delivered 16,303 units in May, with the MPV benchmark D9 selling 6,721 units, and the Z9 series close to 6,000 units. MPV and mid-to-large sedan dual-line efforts helped them stand firm in the luxury new energy track; the million-level ultra-luxury brand Yangwang continued its steady climb, delivering 286 units that month, a year-on-year increase of 105.8%, completing market verification of the domestic brand ceiling product and forming a full price range product layout from 100,000+ home, 300,000-400,000 off-road, 500,000 luxury MPV to million-level flagship.
In May, BYD's overseas sales of passenger cars and pickup trucks reached 160,177 units, surging 80.7% year-on-year. Exports accounted for over 42% of the full series total sales, setting a new historical high for brand export and becoming the core driving force to stabilize May overall sales and achieve year-on-year positive growth.
Southeast Asia, Europe, and Latin America became the main incremental markets. Seagull, Song PLUS, and Yuan series continued to top new energy best-seller lists in multiple countries; the SHARK pickup truck exceeded 4,000 units in monthly exports for two consecutive months. Relying on the completion of localization production in Thailand, Brazil, Hungary, and Uzbekistan with four overseas vehicle factories, localized production continues to land, avoiding tariffs while rapidly penetrating terminal channels. Against the background of stock market competition in the domestic auto industry and normalized price wars, the rapidly expanding overseas market effectively counteracts sales volatility brought by domestic model iterations, officially upgrading from a supplementary market to BYD's core growth engine. As of now, BYD's global cumulative new energy vehicle sales have exceeded 16.5 million units, with the globalization map continuously broadening.
Intelligent Driving Empowers Product Iteration, H2 New Products Prepare to Surge VolumeMay marked a key node in BYD's intelligent driving landing, with the God's Eye intelligent driving system becoming a core bonus point for models: the number of vehicles with advanced intelligent driving across all brands exceeded 3.15 million, with daily road test data exceeding 200 million kilometers; that month, BYD implemented City Pilot and Smart Parking dual safety backup services, becoming the world's first auto manufacturer to achieve dual intelligent driving backups. Three days after policy implementation, the activation rate of models equipped with the God's Eye system in cities surged 50%. Intelligent driving experience upgrades directly drove in-store order conversion, solidifying product competitiveness for subsequent models to continue volume sales, and facing the intelligent driving market shock brought by FSD entering China.
From data details, BYD's cumulative sales from January to May 2026 were 1,405,039 units, down 20.32% year-on-year. The core reason is that the full series of main models were concentratedly iterated, and the capacity ramp-up of the 2nd Gen Fast Charge Blade Battery was restricted. The new Flash Charge Battery upgraded fast charging and low-temperature performance. Full series iteration models prioritized installing new batteries, but production line retrofitting dragged down capacity release. Order backlogs on popular models and delayed deliveries compressed the May delivery volume to a certain extent.
As the end of the second quarter approaches and the 2nd Gen Blade Battery capacity continues to release, coupled with new models such as Denza N8L, Fang Cheng Bao Titanium 7 Pure Electric Version, Sealion 05, and Xia L landing the market, the industry generally predicts that BYD's full brand sales in June are expected to exceed 400,000 vehicles. Relying on the four-dimension development logic of low-end volume locking share, high-end raising profit, overseas pushing volume, and intelligence improving product power, amidst the intensified new energy elimination round in the domestic market, BYD's full category layout advantage continues to amplify, securing its status as the domestic new energy leader, accelerating steadily towards global top auto manufacturers.
兄弟姐妹們，今日講一個出海嘅大新聞——唔係賣車，係賣「司機」。6 月 2 號，文遠知行同 Uber 聯合宣佈咗一件事：計劃喺西班牙馬德里推出該國首個商業化 Robotaxi 試點服務。意思就係：西班牙人好快就可以用 Uber 叫到一台冇司機嘅出租車。呢次係文遠知行同 Uber 第一次一齊進入歐洲市場。馬德里亦成為文遠知行 Robotaxi 駛入嘅全球第十二個城市。
官方消息話，喺馬德里自治區政府嘅支持下，呢項服務今年內就會正式啟動。到嗰陣，馬德里嘅朋友哋打開 Uber App，就有一鍵呼叫文遠知行嘅 Robotaxi。同叫普通網約車一樣，分別係嚟嘅車冇駕駛員——至少喺初期，仲係有分別嘅。運營初期，車入面會配備經過專業培訓嘅安全員，終究係剛上線，穩妥第一。
文遠知行呢間公司，你可能聽過，也可能冇聽過。簡單介紹下：2017 年成立，一直埋頭搞 Robotaxi 技術研發同商業化。而家佢嘅 Robotaxi 已經覆蓋咗廣州、北京、新加坡、阿布達比、迪拜、利雅得、蘇黎世……加埋而家嘅馬德里，一共 12 個城市。西班牙亦係文遠知行進入嘅第五個歐洲市場——之前已經入咗瑞士、法國、比利時、斯洛伐克。按照文遠知行同 Uber 喺 2025 年 5 月達成嘅規劃，佢哋要喺五年內新增 15 個國際城市部署 Robotaxi 服務，全球部署數萬輛 Robotaxi。隨著馬德里落地，目前已經完成咗 4 個城市嘅佈局，仲有 11 個會喺 2030 年前陸續覆蓋。
講真嘅，中國自動駕駛公司出海唔係頭一回，但中國技術 + 全球出行平台 + 歐洲市場呢個組合，定係好有意思。馬德里係歐洲最具商業潛力嘅 Robotaxi 市場之一，人口多、出行需求大，當地政策都好友善。喺呢個市場站穩腳根，對文遠知行嚟講係個唔小嘅里程碑。對 Uber 嚟講，引進 Robotaxi 都係為咗降低成本——終究司機唔使發人工。對馬德里市民嚟講，以後打車可能更平。
你睇過印度嘅馬路嗎？
我喺網上見過。
畫面通常係咁，一輛轎車俾牛尾擋住，旁邊仲有亂竄嘅摩托，甚至周圍仲有賣奶茶嘅小夥，嗰叫一個“乾淨又衛生”。
然而，喺呢啲睇完好多人覺得生理不適嘅地方，豐田、鈴木、本田等日本車廠，卻決定將籌碼押落印度。
據印度“品牌質量基金會”網站顯示，三家車廠將喺印度投資近110 億美元建廠、提產能、搞出口。
對此有网友表示，三家日本車廠係咪錢多到無處花？
事實上，佢哋唔係錢多到花唔完，亦唔係被印度嘅咖哩蒙蔽咗心竅，呢啲日本車廠高層遠比我哋清醒。
而家嘅日系車，營業額、市場份額都喺下滑，原材料成本仲係升得飛起，打開世界地圖，搵一個能夠容納產能、拓充份額、競爭溫和嘅市場，唔係咁容易嘅事。
所以，唔係日本車廠選擇咗印度，而係因為冇得揀。
日本車廠之痛
曾經嘅日系車，嗰時妥妥係人哋個仔。
你問下十幾年前開過日系車嘅老司機，一提起日系車，幾乎就冇唔豎大拇指嘅，價錢平、省油、耐用又抵撞……
甚至好多日系車，仲要加價購買，但邊個諗到，呢個鐵打嘅江山，短短幾年時間就俾佢哋打得找唔著北。
隨著新能源汽車浪潮嚟到，電動化、智能化變成好多自主車廠“彎道超車”嘅目標，依托於中國強大嘅新能源汽車產業鏈優勢同車廠自身對研發、技術嘅堅持，中國自主品牌迅速實現咗“彎道超車”。
曾經被人吐槽嘅國產車，而家喺馬路越來越多人，甚至份額超越咗合資。
根據乘聯會嘅數據，喺2026 年4 月，自主品牌嘅份額已經高達62.5%，遠超日系嘅13.1%。
要知道，中國汽車市場係全球最大嘅汽車市場，喺中國市場失速，就相當於丟咗一塊巨大嘅蛋糕。
同時，中國市場近年嚟嘅主旋律依舊係價格戰，捲配置、捲價格、捲服務已經成為一種常態，亦對日系車嘅利潤產生咗巨大嘅影響。
除咗中國，日系車喺美國過得亦唔太好。
2025 年 1 月 20 日，特朗普宣誓就職第 47 任美國總統，自此開啟咗一連串搞搞震，其中就包括以國家安全為理由徵收額外嘅汽車關稅，導致進口日本汽車嘅關稅稅率一度高達 27.5%，雖然後嚟有所降低，但亦遠高於最初嘅稅率。
呢個操作，直接導致七大日本車廠喺2025 財政年度嘅關稅損失超2 萬億日元。
再睇日本本土，其實亦唔容易。
中東地緣衝突導致霍爾木茲海峽航運受阻，運輸成本、原材料成本暴漲，日本車廠都有苦難言。
高管們看著報表，背後發涼，只能尋找全新嘅增長曲線。
所以，日本車廠唔係愛上印度，係冇地方去。
揀選印度嘅深思熟慮
咁，印度點解咁有魔力，先至令日本車廠重資投入呢？
第一個優勢就係大。喺2025 年，印度汽車市場取得咗551.7 萬輛嘅新車銷量，同比增長 6%，刷新咗歷史紀錄，位居全球第三大汽車市場，已经连续四年超越日本，僅次於中國同美國。
呢個含金量唔使多講啦，而印度取得呢一成績，主要係因為印度一直喺推動減稅政策，促進消費，這導致國內消費意願出現咗明顯增強。
第二個優點係近，就係離日系車賣得動嘅地方近，如非洲等其他地區。
所以，印度對於日本車廠，更似一個建喺十字路口中央嘅便利店，你唔使將車分別運去八個國家，只需要喺印度呢站造好，然後一船一船甩去，就能削減唔少成本。
《日本經濟新聞》亦認為，印度有望轉變為佢哋全球嘅汽車供應中心。
第三個優點係穩。要知道，日系車嘅優勢就係燃油車，畢竟引擎、變速箱、底盤三大件，佢哋已經玩咗好多年，技術積累喺全球都係數一數二。
但係中國汽車市場已經全力推動電動化、智能化發展，導致日系車嘅優勢越來越弱，根本無法發揮出嚟，但印度唔一樣，佢擁有充電樁少、電動化進程緩慢嘅特點，印度老百姓買車，都仲係盯住平、省油、易修，而呢三點正係日系車嘅老本行。
尤其係鈴木，一直係印度汽車市場嘅常青樹，幾乎年年穩坐暢銷車型寶座，口碑好，勝過任何廣告。
所以，日本車廠大力佈局印度市場，顯然是經過深思熟慮嘅。
但，印度市場真係咁好混咩？
難啃嘅印度市場
當然，印度亦唔係完美得似個香口格，佢嘅缺點同佢嘅優點一樣明顯，而且每一個都夠日本車廠喝一壺。
先講電動化，冇錯，眼睇下印度充電樁少、電動車賣唔動，確實係日系燃油車嘅避風港。但你得諗諗，呢個“避風港”能避幾耐？
印度此前可係喊出咗 2030 年電動車佔新車 30% 嘅口號，雖然聽落似吹水，但抵唔住人哋真補錢、真建充電站。
試諗下，萬一有日印度突然開竅，開始大力推動電動化、搞基建，充電樁似雨後春筍咁冒出來，嗰日系車唔就傻眼？
呢唔係泰國市場嘅翻版咩？
當年日系車喺泰國都係躺贏，整個東南亞市場，都被稱為日系車嘅後花園，結果泰國率先推動電動化，中國電動車一嚟，直接就成咗香口格，再睇日系車，喺泰國嘅市場份額嘩嘩嚟咗落。
如果印度係電動化一加速，歷史大概率會重演，而而家呢次，日系車連逃嘅地方都快冇咗，點樣預防，將成為日本車廠嘅首要問題。
再講政策，印度嘅政策就似一鍋咖哩，你永遠唔知下一口食到係雞肉定係馬鈴薯。
呢個魔幻嘅國家，今日係低關稅鼓勵建廠，明日就可能罰你一筆巨款，更令人頭痛嘅係強制合資，外國車廠想喺印度賣車，要搵本地夥伴搭檔，等你工廠建好咗、供應鏈搭完咗，印度直接背刺你，到嗰陣無論係加錢定撤資，換嚟嘅都係心痛。
所以你看，印度呢個市場，就好似一個睇落好甜嘅芒果，咬落去第一口仲行，再啃幾口就摸著硬核。
日系車而家嘅算盤係，趁住核都未硌牙，趕緊多啃幾口，但核遲早會硌到，只係唔知係邊一日。
尾聲
日系車呢趟印度之旅，唔係去旅遊，係去搵食。
中國同東南亞嘅飯桌更擁擠，生產、運輸嘅成本又提高咗，放眼全球，就印度呢口鍋仲冒住熱氣，哪怕入面煮嘅係咖哩味嘅石頭，都要硬著頭皮啃落去。
日本車廠想擴大市場，印度想嘅係拉動經濟、解決就業，雙方都有各自嘅心思。
至於結局係日系車喺印度重新封神，定係好似當年嘅部分友商一樣灰溜溜走人，那就唔知啦。
但無論點樣，呢場戲先至開始，我哋慢慢睇就得啦。
反正印度嘅故事，從來唔會悶。
The competition in the domestic passenger vehicle market has entered a deep stock game phase, and the industry elimination race continues to intensify. The system operation capability of automakers, the efficiency of new energy transformation, and the depth of globalization layout have become core indicators for measuring brand comprehensive competitiveness. With the formal disclosure of automaker production and sales data in May 2026, Changan Auto delivered a high-value monthly report card with all-domain balanced market performance. Relying on the robust trend of full-category product matrix efforts and synchronized growth in domestic and overseas markets, Changan Auto continues to firmly remain in the top tier of mainstream domestic automakers.
Overall Sales Stable with Growth, New Energy Transformation Results Highlighted
Data shows that Changan Auto's overall delivery volume in May reached 209,100 units, with single-month deliveries stably breaking through the 200,000 unit threshold, solidifying the brand's core market base. This achievement is not a temporary market surge, but a normalized result of the enterprise's all-category product collaborative efforts, continuous optimization of the vehicle manufacturing system and supply chain system, and the continuous highlight of systematic advantages.
The new energy business continues to serve as the core pillar of Changan Auto's growth. In May, the brand's new energy model deliveries reached 92,400 units, marking that its electrification transformation has fully shifted from the strategic layout stage to the harvest cycle of scaled implementation. The continuous expansion of new energy business volume effectively lifts the brand's overall growth potential, and coupled with the high-speed breakthrough of the overseas market, it has opened up a new incremental space for the brand.
Overseas Market Storming Forward, Globalization Layout Enters Harvest Period
Essentially, the current competitive landscape of independent automakers has been reconstructed, and the market boundaries are no longer limited to domestic regional competition. Globalization operation capability and overseas market deep cultivation results have become the key core for top automakers to pull away industry gaps.
Looking at specific data, Changan Auto's overseas deliveries in May reached 70,700 units, a year-on-year increase of 38%, with single-month overseas growth rate ranking in the top tier of independent automakers. Looking at the annual cumulative performance, the growth potential is more outstanding. From January to May 2026, Changan Auto's overseas cumulative sales reached 130,531 units, a significant year-on-year increase of 167%, achieving a doubling growth. This bright data confirms the brand's strategic results of years of deep cultivation in overseas channel construction and promoting product localization adaptation, and the globalization layout has officially entered a high-speed realization period.
Sub-Brands Blossom in Multiple Areas, New Cars Overseas and Domestic Continuously Stand Out
Multi-brand and multi-category collaborative layout is the core advantage for Changan Auto to resist market fluctuations and achieve all-domain growth. The positioning of its sub-brands is precise and the racing lanes are clear, fully covering household transportation, high-end smart, commercial travel, overseas export and other sub-segments. A complete hierarchy and all-domain coverage product matrix has greatly improved the brand's market error tolerance rate and comprehensive competitiveness.
In terms of sub-brand dimensions, Changan Qiyuan's May delivery volume was 34,528 units, among which the core AQ Series market performance was outstanding, with a year-on-year increase of 51%, and main model sales continued to maintain a hot trend. The brand's all-new Q05 model successfully landed in the Southeast Asia market, with orders breaking through 3,000 units three days after its launch in Thailand, quickly opening up the overseas sub-market and fully verifying Changan models' global product competitiveness and localization adaptation ability.
Deepal Auto continued a steady growth trend, with May sales of 33,243 units, a year-on-year increase of 30%, and the growth trend continued to be positive. The main model Deepal S05, with balanced product comprehensive strength and affordable pricing, continues to capture the mainstream household new energy market. Cumulative sales have exceeded 220,000 units, and market reputation and holdings are steadily rising. The high-end brand Avatr also achieved steady progress simultaneously, with May deliveries of 7,336 units, and recognition in the high-end smart car market continues to improve, helping Changan Auto complete its high-end market layout.
Fuel Power Iteration Upgrade, New and Old Kinetic Energy Seamless Connection
Indeed, Changan Auto's market breakthrough is not a phase dividend of a single lane, but the balanced result of fuel and new energy dual track parallel development and dual empowerment, achieving orderly iteration and collaborative growth of new and old kinetic energy.
Addressing diversified market consumer demands, Changan Auto continues to deepen traditional fuel power technology iteration and upgrade. The brand's all-new Blue Core Super Engine system has officially landed, and the 4th Generation CS75 PLUS and 4th Generation Eado dual cars simultaneously launched sales and delivery, with a starting price of 79,900 offering high market cost-performance. The new power architecture carried by the new cars achieves significant optimization of energy consumption, significantly reducing fuel consumption, with a range up to 1,500 km, effectively solving user long-distance travel energy consumption and range pain points, allowing traditional fuel models to still possess strong core competitiveness in the new energy market environment.
The commercial vehicle segment also achieved steady growth. Changan Kaicheng delivered 21,100 units in May, with new energy model deliveries increasing by 21% year-on-year. The steady progress of commercial vehicle new energy transformation complements Changan Auto's passenger and commercial combined, all-category coverage industry layout, achieving multi-track collaborative development.
Technical Strategy Deep Implementation, Laying Solid Foundation for Long-Term Development
Anyway, pure sales data can only reflect the brand's short-term market performance. The core power supporting Changan Auto to continue leading the industry stems from deep technical accumulation and long-term stable strategic layout.
Globalization strategy implementation has achieved landmark progress, and Changan Auto has officially become the global official partner of the Portugal National Team. Relying on the "All-Inclusive" globalization strategy, the brand continues to perfect overseas marketing, after-sales, and channel systems, accelerating the promotion from product export to brand, technology, and service all-around outward transformation strategy upgrade, and continuously deepening the globalization layout.
The intelligent field iteration pace continues to accelerate. Based on the "Beidou Tianshu" intelligent strategy, Changan Auto's independently developed Tianshu end-to-end intelligent driving technology is about to achieve mass production deployment, and the process of independent core technology landing continues to speed up. At the product level, the all-new Avatr 07L has completed the Ministry of Industry and Information Technology declaration, will be the first batch equipped with Huawei Qiankun ADS 5.0 high-end intelligent driving system, and凭借 advanced intelligent configuration, solidifying the brand's pre-emptive advantage in the high-end smart travel lane.
Zhang Guan Commentary
From fuel power technology innovation to new energy scaled growth, from domestic market solid deep cultivation to overseas market leapfrog breakthrough, from product iteration upgrade to core technology independent control. Changan Auto's bright market performance in May was not accidental, but an inevitable result of the enterprise's long-term strategic adherence and system capability continuous precipitation. Against the background of industry deep reshuffle, this all-domain collaboration and multi-dimensional progression development model will continue to become the core support for Changan Auto to lead the passenger vehicle market.
近日，NEVO Q05 喺泰國正式開賣，62.99 至 70.99 萬泰銖，限時權益價 59.99 萬起，折合人民幣約 12 到 14 萬出頭。
大家可以感受一下，呢台國內 7.99 萬起嘅車，出了海溢價幅度相當可觀。
長安嘅出海算盤待會先解拆，先講底氣啦。
4 月單月國內 15814 台，呢個數字係真實市場投票，唔係發布會 PPT。
接下嚟嘅路線圖更大！6 月烏茲別克斯坦，8 月印尼同中南美，10 月歐洲。
一台 10 萬以內嘅緊湊型純電 SUV，要啃歐洲市場，膽子唔細。
國內點解可以咁能打？
120kW 電機配 51.9 度寧德時代電池，CLTC 續航 462 公里，3C 快充 15 分鐘補 120 公里，仲帶 6.6 千瓦外放電，呢套配置喺 7 到 10 萬價位入面形成咗一定嘅壓制優勢。
0 到 100 公里加速 8.2 秒，唔好嫌慢，帶住屋企三人去超級市場需要超跑嘅起步？家用通勤場景夠用，追求性能快感嘅去別處。
車身 4435×1855×1600 毫米，2735 毫米軸距，風阻係數低至 0.265Cd，數智飛翼 2.0 外觀，貫穿式日行燈配封閉式格柵兩側 LED 大燈，路上辨識度算係在線。
松野綠，流金紫，月華銀三種顏色，大家備好預算再去配色。
說到內飾，14.6 英寸中控螢幕配 10.17 英寸液晶儀表，台積電天璣 P1 Ultra 4nm 芯片打底，24GB 運存，系統流暢度有硬體基礎撐住，日常觸摸少少卡頓。
540 升尾箱加 90 升下沉百寶箱，後排座椅放倒可擴展到 1380 升，週末露營搬貨理論上夠用。
支持 CarPlay 同 HiCar 之外，仲可以聯動海爾家電，開車途中遙控打開屋企空調呢個功能，需求有多剛性，大家自己想清楚再做決定。
真實車主反饋唔可以跳過，呢個係經銷商唔會主動話大家嘅部分。
車機偶爾黑屏後約一分鐘自動復原，具體原因官方無提供清楚解釋，喺路上行車時突然黑屏，體驗談唔上愉快。
底盤懸掛調教偏軟，彎道側傾感比較明顯，坑坑窪窪路段行車有輕微暈船感，呢個係多位車主一致反映嘅規律性問題，唔係個例。
全系冇方向盤加熱，冇 HUD 抬頭顯示，主駕冇座椅記憶，兩公婆換住開，每次入車都要重調座椅位置，三年落嚟腰可以練出嚟。
高速上風噪控制一般，限速 100 公里時噪音比較明顯。
車機應用生態偏封閉，可下載嘅軟件有限，鍾意搞第三方應用嘅用戶會遇到限制。
呢啲係花真金白銀買咗車嘅人講出嚟嘅，記低啲。
泰國呢步棋，好多媒體冇拆解到位嘅一個細節。
NEVO Q05 唔係簡單出口貿易，係喺羅勇府本地化生產，長安泰國工廠已投入超一百億泰銖，Q05 係第二款本地組裝車型。
本地生產意味著規避高額進口關稅，意味著供應鏈穩定性同在地化售後響應速度，先係海外站穩腳跟嘅真正基本盤，比只手持預期銷量目標喊口號踏實得多。
泰國戰場上，比亞迪元 UP（海外叫 ATTO 2）嘅品牌滲透已經相當深入，零跑 B10 嘅價格打法夠凶，仲有 Jaecoo 5 EV 呢類泰國特供車型喺守護。
Q05 嘅差異化牌喺邊？
2735 毫米軸距帶來嘅空間優勢喺同級別入面有說服力，3C 快充喺充電樁密度還唔高嘅東南亞市場屬於先手棋，激光雷達加持嘅輔助駕駛喺呢個價位仍有稀缺性。
短板同樣直接，品牌喺泰國嘅知名度累積時間有限，服務網點仲喺鋪設階段，本地口碑沉澱需要時間，呢三塊產品力補唔到，急唔嚟。
後續 10 月要打歐洲，道關對安全法規，充電標準，本地化認證嘅要求遠高於東南亞，先係真正嘅硬仗，值得繼續關注。
國內而家準備出手嘅兄弟姊妹們，7.49 到 10.49 萬一口價疊加以舊換新補貼，空間同配置下沉嘅組合喺同價位入面有競爭力。
出手前記住三件事！！！
一係北方冬季續航縮水係純電通病，Q05 同樣需要留餘量。
二係底盤偏軟，買前務必開夠 15 分鐘坑坑窪窪路段嘅試駕。
三係車機生態封閉，鍾意搞第三方軟件嘅人要想清楚再定。
佢走出去呢件事，背後係整條中國供應鏈喺驗證自己。
Have you ever seen the roads in India?
I've seen them online.
The scene is usually like this: a sedan blocked behind a cow, motorcycles running wild nearby, even milk tea vendors nearby, so "clean and hygienic".
However, in a place where many feel physically uncomfortable after watching, Toyota, Suzuki, Honda and other Japanese car companies decided to bet on India.
According to the Indian "Brand Quality Foundation" website, the three car companies will invest nearly $11 billion to build factories, increase capacity, and develop exports in India.
Some netizens commented: Did the three Japanese car companies have too much money?
In fact, they didn't have endless money to spend, nor were they bewildered by Indian curry. These Japanese car executives are much clearer than us.
Current Japanese car revenue and market share are declining. Raw material costs are soaring. Looking at the world map, finding a market that can accommodate capacity, expand share, and has gentle competition is not easy.
So, it wasn't that Japanese car companies chose India, but because they had no choice.
The Pain of Japanese Car Companies
Past Japanese cars were truly the envy of others.
Ask old drivers who drove Japanese cars over ten years ago, talking about Japanese cars, almost no one doesn't give a thumbs up, cheap price, fuel saving, durable...
Even many Japanese cars needed to be bought at a markup, but who would think this iron fortress would be beaten out of sight in a few short years.
With the wave of new energy vehicles coming, electrification and intelligence became the goal for many domestic car companies to "leapfrog". Relying on China's strong new energy vehicle industry chain advantages and car companies' own persistence on R&D and technology, Chinese independent brands quickly achieved "leapfrogging".
Domestic cars once criticized are now becoming more and more common on the roads, even surpassing joint ventures in share.
According to CPCA data, in April 2026, the share of independent brands reached as high as 62.5%, far exceeding Japan's 13.1%.
You need to know, the Chinese car market is the largest car market in the world. Losing speed in the Chinese market is like losing a huge piece of cake.
Meanwhile, the main theme of the Chinese market in recent years is still price wars. Racing on configuration, price, and service has become a normal state, which also had a huge impact on Japanese cars' profits.
Apart from China, Japanese cars are also not doing well in the US.
On January 20, 2025, Trump swore in as the 47th US President, starting a series of chaotic operations, including imposing additional car tariffs in the name of national security, causing the tariff rate for imported Japanese cars to reach as high as 27.5% at one point. Although it decreased later, it was still far higher than the initial tax rate.
This operation directly led to a tariff loss of over 2 trillion yen for seven Japanese car companies in fiscal year 2025.
Looking at Japan itself, it is actually not easy either.
Middle East geopolitical conflicts blocked shipping in the Strait of Hormuz, transportation costs and raw material costs soared, Japanese car companies also had to suffer in silence.
Executives looking at the reports, their backs went cold, only to find a new growth curve.
So, Japanese car companies didn't fall in love with India, there was nowhere else to go.
Deep Thought on Choosing India
So, what magic does India have, to make Japanese car companies invest heavily?
The first advantage is big. In 2025, the Indian car market achieved 5.517 million new car sales, up 6% year-on-year, breaking the historical record, ranking as the third largest car market in the world, exceeding Japan for four consecutive years, second only to China and the United States.
The value of this doesn't need me to say much. India achieved this result mainly because India has been promoting tax reduction policies to promote consumption, which led to a significant increase in domestic consumption willingness.
The second advantage is close, meaning it is close to places where Japanese cars sell well, such as Africa.
So, India for Japanese car companies is more like a convenience store built in the center of a crossroad. You don't need to ship cars to eight countries separately, just build well at this stop in India, then unload ship by ship, and you can save a lot of costs.
The Nikkei also believes that India is expected to become its global car supply center.
The third advantage is stability. You know, Japanese cars' advantage is fuel cars, after all, the three major components of engines, gearboxes, and chassis, they have played for many years, technology accumulation is number one in the world.
But the Chinese car market has fully promoted electrification and intelligence development, leading to Japanese cars' advantage becoming weaker and weaker, impossible to play out. But India is different, it has the characteristics of few charging piles and slow electrification process. Indian old people buying cars still look for cheap, fuel saving, easy to fix, and these three points are exactly Japanese cars' old trade.
Especially Suzuki, always been India's car market evergreen, almost always sitting on the best-selling model throne, reputation of being worry-free, better than any advertisement.
So, Japanese car companies' vigorous layout of the Indian market is obviously carefully considered.
But, is the Indian market really that easy to mix?
The Hard-to-Bite Indian Market
Of course, India is not perfect like a hot commodity, its disadvantages are as obvious as its advantages, and every one is enough for Japanese car companies to face a hard time.
First talk about electrification. Yes, right now India has few charging piles and electric cars don't sell well, it is indeed a shelter for Japanese fuel cars. But you have to think, how long can this "shelter" avoid?
India previously shouted the slogan of 30% of new cars being electric vehicles by 2030. Although it sounds like bragging, but can't help but they really give subsidies, really build charging stations.
Imagine, what if one day India suddenly wakes up, starts vigorously promoting electrification, doing infrastructure, charging piles popping out like mushrooms after rain, then Japanese cars will be dumbfounded?
Isn't this a version of the Thai market?
Back then Japanese cars in Thailand won easily. The entire Southeast Asian market was called Japanese cars' backyard. Result Thailand took the lead in promoting electrification. Chinese electric vehicles came in, directly became a hot commodity. Look at Japanese cars again, share in Thailand falling down rapidly.
If India accelerates electrification, history will likely repeat, and this time, Japanese cars don't even have a place to flee, how to prevent will become the first problem for Japanese car companies.
Next talk about policy. India's policy is like a pot of curry, you never know if you will eat chicken or potato next time.
This magical country, today low tariff encourages building factories, tomorrow may fine you a huge amount. What's more annoying is mandatory joint venture. Foreign car companies want to sell cars in India, have to find local partners to partner up. When your factory is built, supply chain is done, India directly backstabs you. At that time whether adding money or withdrawing capital, what you get is heartache.
So you see, this market like India is like a mango that looks very sweet, bite the first mouth it's okay, chew two more mouths hit the hard core.
Japanese cars now is calculating, while the core hasn't bit the tooth, hurry up to nibble a few more mouths, but the core will bite sooner or later, just don't know which day.
Epilogue
Japanese cars this trip to India, not go for tourism, is go to make a living.
Chinese and Southeast Asian dining tables are more crowded, production and transportation costs have risen. Looking around the world, only this pot in India is still steaming, even if what is boiling inside is curry-flavored stones, have to bite hard and chew down.
Japanese car companies want to expand market, India wants to pull economy, solve employment, both sides have their own thoughts.
As for the ending is Japanese cars in India regain their glory, or like past competitors shamefully walk away, then is not known.
But no matter how, this play just started, we slowly watch is okay.
Anyway India's story, never bored.
你睇過印度嘅馬路嗎？
我喺網上見過。
畫面通常係咁，一輛轎車俾牛尾擋住，旁邊仲有亂竄嘅摩托，甚至周圍仲有賣奶茶嘅小夥，嗰叫一個“乾淨又衛生”。
然而，喺呢啲睇完好多人覺得生理不適嘅地方，豐田、鈴木、本田等日本車廠，卻決定將籌碼押落印度。
據印度“品牌質量基金會”網站顯示，三家車廠將喺印度投資近110 億美元建廠、提產能、搞出口。
對此有网友表示，三家日本車廠係咪錢多到無處花？
事實上，佢哋唔係錢多到花唔完，亦唔係被印度嘅咖哩蒙蔽咗心竅，呢啲日本車廠高層遠比我哋清醒。
而家嘅日系車，營業額、市場份額都喺下滑，原材料成本仲係升得飛起，打開世界地圖，搵一個能夠容納產能、拓充份額、競爭溫和嘅市場，唔係咁容易嘅事。
所以，唔係日本車廠選擇咗印度，而係因為冇得揀。
日本車廠之痛
曾經嘅日系車，嗰時妥妥係人哋個仔。
你問下十幾年前開過日系車嘅老司機，一提起日系車，幾乎就冇唔豎大拇指嘅，價錢平、省油、耐用又抵撞……
甚至好多日系車，仲要加價購買，但邊個諗到，呢個鐵打嘅江山，短短幾年時間就俾佢哋打得找唔著北。
隨著新能源汽車浪潮嚟到，電動化、智能化變成好多自主車廠“彎道超車”嘅目標，依托於中國強大嘅新能源汽車產業鏈優勢同車廠自身對研發、技術嘅堅持，中國自主品牌迅速實現咗“彎道超車”。
曾經被人吐槽嘅國產車，而家喺馬路越來越多人，甚至份額超越咗合資。
根據乘聯會嘅數據，喺2026 年4 月，自主品牌嘅份額已經高達62.5%，遠超日系嘅13.1%。
要知道，中國汽車市場係全球最大嘅汽車市場，喺中國市場失速，就相當於丟咗一塊巨大嘅蛋糕。
同時，中國市場近年嚟嘅主旋律依舊係價格戰，捲配置、捲價格、捲服務已經成為一種常態，亦對日系車嘅利潤產生咗巨大嘅影響。
除咗中國，日系車喺美國過得亦唔太好。
2025 年 1 月 20 日，特朗普宣誓就職第 47 任美國總統，自此開啟咗一連串搞搞震，其中就包括以國家安全為理由徵收額外嘅汽車關稅，導致進口日本汽車嘅關稅稅率一度高達 27.5%，雖然後嚟有所降低，但亦遠高於最初嘅稅率。
呢個操作，直接導致七大日本車廠喺2025 財政年度嘅關稅損失超2 萬億日元。
再睇日本本土，其實亦唔容易。
中東地緣衝突導致霍爾木茲海峽航運受阻，運輸成本、原材料成本暴漲，日本車廠都有苦難言。
高管們看著報表，背後發涼，只能尋找全新嘅增長曲線。
所以，日本車廠唔係愛上印度，係冇地方去。
揀選印度嘅深思熟慮
咁，印度點解咁有魔力，先至令日本車廠重資投入呢？
第一個優勢就係大。喺2025 年，印度汽車市場取得咗551.7 萬輛嘅新車銷量，同比增長 6%，刷新咗歷史紀錄，位居全球第三大汽車市場，已经连续四年超越日本，僅次於中國同美國。
呢個含金量唔使多講啦，而印度取得呢一成績，主要係因為印度一直喺推動減稅政策，促進消費，這導致國內消費意願出現咗明顯增強。
第二個優點係近，就係離日系車賣得動嘅地方近，如非洲等其他地區。
所以，印度對於日本車廠，更似一個建喺十字路口中央嘅便利店，你唔使將車分別運去八個國家，只需要喺印度呢站造好，然後一船一船甩去，就能削減唔少成本。
《日本經濟新聞》亦認為，印度有望轉變為佢哋全球嘅汽車供應中心。
第三個優點係穩。要知道，日系車嘅優勢就係燃油車，畢竟引擎、變速箱、底盤三大件，佢哋已經玩咗好多年，技術積累喺全球都係數一數二。
但係中國汽車市場已經全力推動電動化、智能化發展，導致日系車嘅優勢越來越弱，根本無法發揮出嚟，但印度唔一樣，佢擁有充電樁少、電動化進程緩慢嘅特點，印度老百姓買車，都仲係盯住平、省油、易修，而呢三點正係日系車嘅老本行。
尤其係鈴木，一直係印度汽車市場嘅常青樹，幾乎年年穩坐暢銷車型寶座，口碑好，勝過任何廣告。
所以，日本車廠大力佈局印度市場，顯然是經過深思熟慮嘅。
但，印度市場真係咁好混咩？
難啃嘅印度市場
當然，印度亦唔係完美得似個香口格，佢嘅缺點同佢嘅優點一樣明顯，而且每一個都夠日本車廠喝一壺。
先講電動化，冇錯，眼睇下印度充電樁少、電動車賣唔動，確實係日系燃油車嘅避風港。但你得諗諗，呢個“避風港”能避幾耐？
印度此前可係喊出咗 2030 年電動車佔新車 30% 嘅口號，雖然聽落似吹水，但抵唔住人哋真補錢、真建充電站。
試諗下，萬一有日印度突然開竅，開始大力推動電動化、搞基建，充電樁似雨後春筍咁冒出來，嗰日系車唔就傻眼？
呢唔係泰國市場嘅翻版咩？
當年日系車喺泰國都係躺贏，整個東南亞市場，都被稱為日系車嘅後花園，結果泰國率先推動電動化，中國電動車一嚟，直接就成咗香口格，再睇日系車，喺泰國嘅市場份額嘩嘩嚟咗落。
如果印度係電動化一加速，歷史大概率會重演，而而家呢次，日系車連逃嘅地方都快冇咗，點樣預防，將成為日本車廠嘅首要問題。
再講政策，印度嘅政策就似一鍋咖哩，你永遠唔知下一口食到係雞肉定係馬鈴薯。
呢個魔幻嘅國家，今日係低關稅鼓勵建廠，明日就可能罰你一筆巨款，更令人頭痛嘅係強制合資，外國車廠想喺印度賣車，要搵本地夥伴搭檔，等你工廠建好咗、供應鏈搭完咗，印度直接背刺你，到嗰陣無論係加錢定撤資，換嚟嘅都係心痛。
所以你看，印度呢個市場，就好似一個睇落好甜嘅芒果，咬落去第一口仲行，再啃幾口就摸著硬核。
日系車而家嘅算盤係，趁住核都未硌牙，趕緊多啃幾口，但核遲早會硌到，只係唔知係邊一日。
尾聲
日系車呢趟印度之旅，唔係去旅遊，係去搵食。
中國同東南亞嘅飯桌更擁擠，生產、運輸嘅成本又提高咗，放眼全球，就印度呢口鍋仲冒住熱氣，哪怕入面煮嘅係咖哩味嘅石頭，都要硬著頭皮啃落去。
日本車廠想擴大市場，印度想嘅係拉動經濟、解決就業，雙方都有各自嘅心思。
至於結局係日系車喺印度重新封神，定係好似當年嘅部分友商一樣灰溜溜走人，那就唔知啦。
但無論點樣，呢場戲先至開始，我哋慢慢睇就得啦。
反正印度嘅故事，從來唔會悶。
On June 12, Beijing Off-road welcomed the 150,000th BJ30 Nomad unit to roll off the line at the Zhuzhou Super Factory, while launching a new version—the BJ30 Nomad Highlight Edition. For an SUV positioned as light off-road, sales of 150,000 units are not just a number; they also represent market recognition of Chinese brands' deep cultivation in niche segments.
At the launch event, Beijing Off-road made a bold move: in collaboration with CCTV Finance, they conducted an on-site teardown of a BJ30 Nomad that had driven 150,000 kilometers. This practice is not common in the industry, especially under live stream cameras, where any shortcomings in materials or craftsmanship would be magnified. The teardown results showed that the vehicle's core components were in good condition, the engine turbo carbon buildup was well-controlled, the transmission had no oil leaks or abnormal wear, the chassis structure remained intact, and the battery pack showed no signs of bulging or degradation. It can be said that after experiencing a usage mileage equivalent to nearly ten years for an average household, this vehicle still maintained high reliability.
Behind this lies Beijing Off-road's investment in manufacturing. At the Zhuzhou factory, the automation rate of the welding workshop reaches 100%, and robotic collaborative operations control errors to a hair's breadth level; the stamping workshop uses 5,000-ton class equipment to ensure the precision and consistency of body panels; the painting workshop uses eco-friendly water-based paint, balancing durability and in-cabin air quality. Every process has independent quality control nodes to ensure off-line vehicles meet unified standards.
Back to the product itself, the launch of the BJ30 Nomad Highlight Edition is a comprehensive upgrade on the basis of the original "Super Off-road, Super Large, Super Fuel-Efficient". The new car still adopts a boxy shape, but with more meticulous details, such as the Five-Arc Star Ring through light bar, exclusive wheels, body-color sport bumpers, etc., further enhancing exterior recognition. Inside, an orange color scheme and metallic texture trim plates are added, improving the overall texture.
In terms of powertrain, the Highlight Edition is equipped with a higher-performance AGM battery, with a cycle life three times that of an ordinary battery. Meanwhile, the rear motor power is increased from 55kW to 70kW, the turbocharging technology is sourced from Porsche, and the charging efficiency reaches 99%. The impact of these changes in actual driving is: faster response in scenarios like ramp merging, intersection starting, emergency avoidance, etc., and stronger continuity in power output.
In terms of space layout, the BJ30 Nomad adopts a 3-row 7-seat design, with a wheelbase of 2820mm. The rear seats can be fully folded flat, forming a maximum 1496-liter storage space, or serving as a 1.92-meter flat bed surface. The car has a total of 38 storage spaces, and the third row can also accommodate adults with a height of 1.8 meters, which is not common in light off-road SUVs of the same class.
Worth mentioning is that the performance of the BJ30 Nomad's HEV hybrid architecture in the overseas market is also worth noting. Bloggers from South Africa, Indonesia, UAE, etc., conducted real-world tests. Fuel consumption per 100km is generally controlled within 5 liters, and range with one tank of fuel exceeds 1,000 kilometers. For users without charging conditions, this "gas-and-go" model is obviously more aligned with actual usage scenarios.
Regarding price, the full series of BJ30 Nomad launched a 30,000 Yuan trade-in policy. Super Trade-in Price starts from 69,900 Yuan, the Highlight Edition starts from 82,900 Yuan. At the same time, it provides whole vehicle lifetime warranty (first non-commercial owner), 0 down payment finance plan, OTA lifetime free upgrade and other supporting services. It is worth noting that, coinciding with the World Cup cycle, Beijing Off-road also launched a prediction activity. Users who buy cars can participate in guessing the champion and final score, and can get up to 50,000 Yuan car purchase subsidy.
In summary, the launch of the BJ30 Nomad Highlight Edition is a self-evolution on the basis of existing 150,000 users. It does not blindly pursue extreme parameters, but makes practical improvements in areas where users truly perceive, such as power response, space utilization, and durability. For consumers with a budget within 100,000 Yuan who hope to find a balance point between commute and light off-road, this car offers a choice worth considering.
The light off-road market never lacks products; it lacks products that can withstand the test of time. The BJ30 Nomad gave its own answer with 150,000 sales units and one public teardown.
港交所網站掛出一咗一份熟悉嘅招股書。
5 月 28 日，繼去年 10 月首次遞表失效後，智能駕駛解決方案提供商蘇州天瞳威視電子科技股份有限公司（天瞳威視）再次向港股主板發起重衝，由匯豐及華泰國際聯席保薦。
喺智能駕駛賽道從「講故事」轉向「拼量產」嘅 2026 年，天瞳威視嘅二次遞表唔單止係一次資本試探，更係一場關於中國智駕供應商生存現狀嘅集中檢閱。
呢間被認為係「算力效率派」代表嘅公司，一邊連住從采埃孚到上汽、北汽嘅豪華產業資本陣營，一邊卻面臨住現金流緊繃、海外明顯回落嘅現實困境。喺呢場 IPO 嘅博弈中，光鮮同陣痛並存。
01
邊個係「天瞳威視」？
天瞳威視嘅創辦人王曦係一位典型嘅「回國」技術派。佢畢業於北京航空航天大學，後喺英國雷丁大學攻讀計算機科學博士學位。
喺決定創業之前，王曦曾經喺汽車零部件供應商天合汽車（TRW）及采埃孚擔任算法工程師同技術負責人，深度參與咗早期 ADAS 系統嘅開發。
2016 年，王曦捕捉到國內汽車智能化嘅風口，回國喺蘇州創立咗天瞳威視，定位係「以軟件算法驅動智能駕駛」嘅本土解決方案提供商。
公司嘅名字「天瞳」寓意「天之眼」，意在打造車輛感知萬物嘅視覺中樞。佢從最初嘅視覺感知算法起步，逐步擴展至行泊一體域控制器、L4 級自動駕駛系統等軟硬件結合嘅整體方案。
天瞳威視融資情況。資料來源：企查查
成立後不久，天瞳威視就獲得德聯資本、盛世投資嘅天使輪融資。此後十年時間，天瞳威視累計完成咗超過 10 輪融資，融資總額近 10 億元。
從招股書披露嘅股權結構嚟睇，天瞳威視構建咗深度綁定嘅「產業 + 資本」生態圈。
一方面，產業夥伴站台，全球汽車零部件巨頭采埃孚唔單止係其 C 輪領投方，亦係其戰略合作夥伴，持有天瞳威視 6.93% 嘅股份，位列第四大股東；國內方面，上汽集團通過上汽北美產投持股，北汽集團通過北汽產投佈局其中，地平線同商湯科技亦係戰略投資者。
另一方面，地方國資護航，唐山機器人基金、吳中金控等國資背景基金喺 D 輪及 D+ 輪入場，提供咗約 5.23 億元嘅資金支持。
截至最後實際可行日期股權架構
截至目前，王曦透過直接持股同員工持股平台合共控制公司約 40.84% 嘅權益，依然保持住對公司嘅控制權。
02
「兩條腿」行路
天瞳威視喺業務佈局上採取咗「雙軌並行」嘅策略。
喺 L2-L2+ 級輔助駕駛領域，天瞳威視嘅選擇非常務實。佢並冇盲目追逐算力堆疊嘅「軍備競賽」，而係走咗一條高性價比路線。
作為典型嘅視覺派智駕供應商，佢喺 L2 量產方案上以視覺感知為主，融合毫米波雷達同超聲波雷達，能夠喺較低算力平台上實現高級功能。例如，基於地平線 J6B 芯片（約 20TOPS）嘅方案即可支持行泊一體、高速 NOA。
呢種打法擊中咗 10 萬 -20 萬級主流車款對成本敏感嘅痛點。根據灼識諮詢嘅數據，按 2024 年裝機量計，天瞳威視係中國第二大同時提供行車同泊車解決方案嘅以軟件為核心嘅 L2-L2+ 級方案提供商，市場份額為 14.3%。
2024 年中國具備行泊一體能力嘅以軟件為核心供應商格局
截至最後實際可行日期，天瞳威視獲得 23 個汽車品牌嘅 198 款車款嘅 L2-L2+ 級解決方案定點函，並實現 6 個汽車品牌嘅 105 款車款嘅量產；獲得定點函嘅 198 款車款中有 87 款覆蓋海外市場，其中 59 款已實現量產。
但值得注意嘅係，L2-L2+ 市場正在經歷劇烈嘅「紅海化」。
一方面，經緯恆潤、福瑞泰克等本土 Tier1 正在加速追趕；另一方面，部分頭部車廠開始將低階智駕方案從外購轉為內部集成。
天瞳威視能否維持佢喺「性價比方案」領域嘅領先地位，取決於佢能否持續保持算法對低算力平台嘅優化能力，而這需要喺研發投入上持續加碼。
喺高級 L4 級自動駕駛領域，天瞳威視更多扮演「先鋒」角色。這亦係佢近兩年增長最快嘅板塊。
早在 2019 年，佢就參與咗上海洋山港嘅 5G 智能重卡項目。目前佢嘅 L4 方案覆蓋 Robobus、Robotaxi 同 Robotruck。其中，Robobus 係佢最具代表性嘅產品線，已喺蘇州、天津等城市嘅公開道路投入常態化試營運。
2025 年，天瞳威視從 L4 級解決方案產生收入 3.75 億元，佔公司總收入嘅 68% 以上，大部分收入來自 L4 級軟件解決方案。
然而，硬幣嘅另一面係商業化嘅曲折。雖然 L4 業務營收暴增，但佢嘅交付形態目前以「軟硬件一體解決方案」為主，呢種模式本質上接近「項目制交付」或「小規模車隊部署」，與 L2 業務中「純軟件授權 + 白盒交付」嘅高毛利、大規模複製邏輯存在顯著差異。
呢就直接導致 L4 業務毛利率嘅大幅波動：喺部分自研硬件佔比较高嘅項目中，毛利率一度低至 15%。
截至遞表日，公司雖手握超 10 億元嘅 L4 意向訂單，涵蓋 2500 架車，但呢啲訂單預計要喺未來三至五年內先會陸續交付，短期內對現金流嘅改善作用有限。
此外，天瞳威視仲有部分應收來自工程服務，主要涉及道路測試、數據收集支援及數據標註服務以及公司嘅專有工具鏈。
03
財務嘅雙面鏡
招股書嘅財務部分，展現咗智駕行業最真實嘅「B 面」：規模同虧損嘅極限拉扯，同埋賬面現金同營運消耗之間嘅緊張博弈。
營收高增長，但結構劇烈波動。
財務數據顯示，公司嘅營收呈現爆發式增長，從 2022 年嘅 1.72 億元增長至 2024 年嘅 4.83 億元，複合年增長率高達 67.7%。2025 年全年營收進一步增長至 5.5 億元。
但收入結構嘅變化明顯。2023 年，公司依賴 L2-L2+ 業務，佔比 90.2%；去到 2024 年，L4 業務佔比升至 50.2%；2025 年，L4 業務佔比進一步拉高至 68%。呢種「斷崖式」嘅結構切換，雖然證明佢 L4 技術搵到咗落地場景，但亦令市場質疑佢 L2 業務係咪已觸及天花板。
毛利率同純利潤嘅背離，呢係天瞳威視面臨嘅最大挑戰。
從毛利睇，整體毛利率喺 30% 左右徘徊，喺呢個技術密集型嘅智駕行業屬於中等水平。但細拆睇嚟，L2-L2+ 業務嘅毛利率通常能維持喺 40% 以上，純軟件授權模式，而 L4 業務嘅毛利率則因「軟硬件一體」交付中硬件佔比提高而被顯著拉低。
從純利潤睇，雖然表面虧損額較大，2024 年虧損 4.63 億、2025 年虧損約 2 億，呢度包含大量因優先股公平值變動帶來嘅「紙面虧損」。剔除呢個因素後嘅經調整純利潤更能反映公司嘅真實經營狀況：2024 年已收窄至 -438 萬元，但 2025 年並未如市場預期實現轉正，而係錄得約 -1086 萬元，虧損較 2024 年有所擴大。
呢個背後有一個不可回避嘅關鍵前提：調整後嘅「減虧」乃至「接近盈虧平衡」，係喺公司持續壓縮研發投入嘅基礎上實現嘅，研發費用從 2024 年嘅 1.17 億元降至 2025 年嘅 9231 萬元，研發費用率從 2024 年嘅 24.3% 進一步降至 16.8%，而 2022 年呢個數字曾高達 108.7%。對於一家科技公司嚟講，研發強度嘅「退坡」是否會影響未來嘅技術護城河，係一個潛在風險點。
現金流持續告急，最令人擔憂嘅信號。
根據最新招股書，截至 2025 年 12 月 31 日，公司賬上嘅現金及現金等价物為 2.35 億元，較 2025 年 6 月 30 日嘅 3.74 億元淨減少 1.39 億元，現金消耗速度較快。
更值得警惕嘅係經營現金流由正轉負且缺口持續擴大嘅趨勢。2023 年，公司經營活動現金流淨額為正向流入 1.15 億元，但 2024 年迅速轉為淨流出 1.89 億元，2025 年進一步惡化至淨流出 2.93 億元。
與此同時，應收賬款周轉急劇惡化。公司嘅貿易應收款項從 2023 年嘅 0.89 億元升至 2025 年嘅 5.48 億元，三年增長超過五倍，而同期營收增幅僅約 2.7 倍。
更令人擔憂嘅係應收款項周轉天數從 2023 年嘅 191 天同 2024 年嘅 166 天，到 2025 年驟升至 300 天，意味著公司從完成交付到收回款項平均需要接近一年時間。呢相當於變相為客戶提供長期無息墊資，喺資金本就緊張嘅情況下進一步加劇咗流動性壓力。
此外，雖然天瞳威視係首家出海嘅中國智駕軟件供應商，但 2025 年佢嘅海外業務遭遇咗明顯回落。2023 年天瞳威視海外收入為 1.27 億元，佔總營收比重達到 62.2%；到 2025 年海外收入降至 1100 萬元，佔比僅 2.0%。
喺而家全球地緣政治複雜、部分國家對智能汽車數據監管趨嚴嘅背景下，為佢嘅全球化故事增添咗一絲不確定性。
04
結語
天瞳威視嘅二次闖關，係智能駕駛行業進入「淘汰賽」階段嘅一個縮影。
從好嘅方面睇，佢踩準咗 L2 性價比同 L4 場景化落地嘅雙重節奏，且經調整純利潤喺特定口徑下已接近盈虧平衡，呢啲都畀投資者提供咗「有亮點可講」嘅故事線。
但從風險嘅角度睇，情況遠比首次遞表時更為嚴峻。業務重心嘅急速漂移、L4 業務商業化初期嘅盈利磨難、研發投入嘅被動收縮，呢啲此前就已存在嘅問題並未緩解。
天瞳威視 L4 級智能巴士
而真正令此次 IPO 帶「求生」色彩嘅，係現金流數據嘅實質性惡化：2.35 億元嘅賬面現金，面對每年近 3 億元嘅经营性現金淨流出，安全邊際已不足一年。疊加 300 天嘅應收賬款周轉天數，意味著公司每交付一筆訂單，都要墊付近一年嘅資金成本。
換言之，天瞳威視正處喺一個危險嘅財務窗口期：賬上嘅錢僅夠維持唔足一年嘅正常運作，而 L4 業務嘅大規模交付同回款卻需要更長時間。喺呢個智駕資本熱潮退去、一級市場融資邊際收緊嘅時刻，公司已冇太多等待嘅餘地。
首次遞表失效後僅隔半年便再次衝擊港股，對天瞳威視而言，與其話係戰略選擇，唔如話係現金倒逼下嘅必然之舉。
兄弟姐妹們，今日講一個出海嘅大新聞——唔係賣車，係賣「司機」。6 月 2 號，文遠知行同 Uber 聯合宣佈咗一件事：計劃喺西班牙馬德里推出該國首個商業化 Robotaxi 試點服務。意思就係：西班牙人好快就可以用 Uber 叫到一台冇司機嘅出租車。呢次係文遠知行同 Uber 第一次一齊進入歐洲市場。馬德里亦成為文遠知行 Robotaxi 駛入嘅全球第十二個城市。
官方消息話，喺馬德里自治區政府嘅支持下，呢項服務今年內就會正式啟動。到嗰陣，馬德里嘅朋友哋打開 Uber App，就有一鍵呼叫文遠知行嘅 Robotaxi。同叫普通網約車一樣，分別係嚟嘅車冇駕駛員——至少喺初期，仲係有分別嘅。運營初期，車入面會配備經過專業培訓嘅安全員，終究係剛上線，穩妥第一。
文遠知行呢間公司，你可能聽過，也可能冇聽過。簡單介紹下：2017 年成立，一直埋頭搞 Robotaxi 技術研發同商業化。而家佢嘅 Robotaxi 已經覆蓋咗廣州、北京、新加坡、阿布達比、迪拜、利雅得、蘇黎世……加埋而家嘅馬德里，一共 12 個城市。西班牙亦係文遠知行進入嘅第五個歐洲市場——之前已經入咗瑞士、法國、比利時、斯洛伐克。按照文遠知行同 Uber 喺 2025 年 5 月達成嘅規劃，佢哋要喺五年內新增 15 個國際城市部署 Robotaxi 服務，全球部署數萬輛 Robotaxi。隨著馬德里落地，目前已經完成咗 4 個城市嘅佈局，仲有 11 個會喺 2030 年前陸續覆蓋。
講真嘅，中國自動駕駛公司出海唔係頭一回，但中國技術 + 全球出行平台 + 歐洲市場呢個組合，定係好有意思。馬德里係歐洲最具商業潛力嘅 Robotaxi 市場之一，人口多、出行需求大，當地政策都好友善。喺呢個市場站穩腳根，對文遠知行嚟講係個唔小嘅里程碑。對 Uber 嚟講，引進 Robotaxi 都係為咗降低成本——終究司機唔使發人工。對馬德里市民嚟講，以後打車可能更平。
Have you ever seen the roads in India?
I've seen them online.
The scene is usually like this: a sedan blocked behind a cow, motorcycles running wild nearby, even milk tea vendors nearby, so "clean and hygienic".
However, in a place where many feel physically uncomfortable after watching, Toyota, Suzuki, Honda and other Japanese car companies decided to bet on India.
According to the Indian "Brand Quality Foundation" website, the three car companies will invest nearly $11 billion to build factories, increase capacity, and develop exports in India.
Some netizens commented: Did the three Japanese car companies have too much money?
In fact, they didn't have endless money to spend, nor were they bewildered by Indian curry. These Japanese car executives are much clearer than us.
Current Japanese car revenue and market share are declining. Raw material costs are soaring. Looking at the world map, finding a market that can accommodate capacity, expand share, and has gentle competition is not easy.
So, it wasn't that Japanese car companies chose India, but because they had no choice.
The Pain of Japanese Car Companies
Past Japanese cars were truly the envy of others.
Ask old drivers who drove Japanese cars over ten years ago, talking about Japanese cars, almost no one doesn't give a thumbs up, cheap price, fuel saving, durable...
Even many Japanese cars needed to be bought at a markup, but who would think this iron fortress would be beaten out of sight in a few short years.
With the wave of new energy vehicles coming, electrification and intelligence became the goal for many domestic car companies to "leapfrog". Relying on China's strong new energy vehicle industry chain advantages and car companies' own persistence on R&D and technology, Chinese independent brands quickly achieved "leapfrogging".
Domestic cars once criticized are now becoming more and more common on the roads, even surpassing joint ventures in share.
According to CPCA data, in April 2026, the share of independent brands reached as high as 62.5%, far exceeding Japan's 13.1%.
You need to know, the Chinese car market is the largest car market in the world. Losing speed in the Chinese market is like losing a huge piece of cake.
Meanwhile, the main theme of the Chinese market in recent years is still price wars. Racing on configuration, price, and service has become a normal state, which also had a huge impact on Japanese cars' profits.
Apart from China, Japanese cars are also not doing well in the US.
On January 20, 2025, Trump swore in as the 47th US President, starting a series of chaotic operations, including imposing additional car tariffs in the name of national security, causing the tariff rate for imported Japanese cars to reach as high as 27.5% at one point. Although it decreased later, it was still far higher than the initial tax rate.
This operation directly led to a tariff loss of over 2 trillion yen for seven Japanese car companies in fiscal year 2025.
Looking at Japan itself, it is actually not easy either.
Middle East geopolitical conflicts blocked shipping in the Strait of Hormuz, transportation costs and raw material costs soared, Japanese car companies also had to suffer in silence.
Executives looking at the reports, their backs went cold, only to find a new growth curve.
So, Japanese car companies didn't fall in love with India, there was nowhere else to go.
Deep Thought on Choosing India
So, what magic does India have, to make Japanese car companies invest heavily?
The first advantage is big. In 2025, the Indian car market achieved 5.517 million new car sales, up 6% year-on-year, breaking the historical record, ranking as the third largest car market in the world, exceeding Japan for four consecutive years, second only to China and the United States.
The value of this doesn't need me to say much. India achieved this result mainly because India has been promoting tax reduction policies to promote consumption, which led to a significant increase in domestic consumption willingness.
The second advantage is close, meaning it is close to places where Japanese cars sell well, such as Africa.
So, India for Japanese car companies is more like a convenience store built in the center of a crossroad. You don't need to ship cars to eight countries separately, just build well at this stop in India, then unload ship by ship, and you can save a lot of costs.
The Nikkei also believes that India is expected to become its global car supply center.
The third advantage is stability. You know, Japanese cars' advantage is fuel cars, after all, the three major components of engines, gearboxes, and chassis, they have played for many years, technology accumulation is number one in the world.
But the Chinese car market has fully promoted electrification and intelligence development, leading to Japanese cars' advantage becoming weaker and weaker, impossible to play out. But India is different, it has the characteristics of few charging piles and slow electrification process. Indian old people buying cars still look for cheap, fuel saving, easy to fix, and these three points are exactly Japanese cars' old trade.
Especially Suzuki, always been India's car market evergreen, almost always sitting on the best-selling model throne, reputation of being worry-free, better than any advertisement.
So, Japanese car companies' vigorous layout of the Indian market is obviously carefully considered.
But, is the Indian market really that easy to mix?
The Hard-to-Bite Indian Market
Of course, India is not perfect like a hot commodity, its disadvantages are as obvious as its advantages, and every one is enough for Japanese car companies to face a hard time.
First talk about electrification. Yes, right now India has few charging piles and electric cars don't sell well, it is indeed a shelter for Japanese fuel cars. But you have to think, how long can this "shelter" avoid?
India previously shouted the slogan of 30% of new cars being electric vehicles by 2030. Although it sounds like bragging, but can't help but they really give subsidies, really build charging stations.
Imagine, what if one day India suddenly wakes up, starts vigorously promoting electrification, doing infrastructure, charging piles popping out like mushrooms after rain, then Japanese cars will be dumbfounded?
Isn't this a version of the Thai market?
Back then Japanese cars in Thailand won easily. The entire Southeast Asian market was called Japanese cars' backyard. Result Thailand took the lead in promoting electrification. Chinese electric vehicles came in, directly became a hot commodity. Look at Japanese cars again, share in Thailand falling down rapidly.
If India accelerates electrification, history will likely repeat, and this time, Japanese cars don't even have a place to flee, how to prevent will become the first problem for Japanese car companies.
Next talk about policy. India's policy is like a pot of curry, you never know if you will eat chicken or potato next time.
This magical country, today low tariff encourages building factories, tomorrow may fine you a huge amount. What's more annoying is mandatory joint venture. Foreign car companies want to sell cars in India, have to find local partners to partner up. When your factory is built, supply chain is done, India directly backstabs you. At that time whether adding money or withdrawing capital, what you get is heartache.
So you see, this market like India is like a mango that looks very sweet, bite the first mouth it's okay, chew two more mouths hit the hard core.
Japanese cars now is calculating, while the core hasn't bit the tooth, hurry up to nibble a few more mouths, but the core will bite sooner or later, just don't know which day.
Epilogue
Japanese cars this trip to India, not go for tourism, is go to make a living.
Chinese and Southeast Asian dining tables are more crowded, production and transportation costs have risen. Looking around the world, only this pot in India is still steaming, even if what is boiling inside is curry-flavored stones, have to bite hard and chew down.
Japanese car companies want to expand market, India wants to pull economy, solve employment, both sides have their own thoughts.
As for the ending is Japanese cars in India regain their glory, or like past competitors shamefully walk away, then is not known.
But no matter how, this play just started, we slowly watch is okay.
Anyway India's story, never bored.
