Affected by the epidemic and other factors, there was a correction in the automobile sector outside China. Under the background of repeated outbreaks in China and overseas conflicts between Russia and Ukraine, the supply chain shortage has further intensified and the market sentiment is low. This week, the electric vehicle index and smart vehicle index have fallen by 1.7% and 4.1% respectively, underperforming the Shanghai and Shenzhen 300 index by 0.7% and 3.0% respectively. Overseas, the automotive electronics sector made a sharp correction. The NYSE global electric smart car index fell 5.8% this week, underperforming the S & P 500 index by 4.5%. Affected by the intensification of supply chain tension, some foreign auto factories stopped production. This week, new forces auto enterprises, autonomous driving platforms and lidar manufacturers all made corrections to varying degrees.
In March, the sales volume and penetration rate of new energy vehicles in Europe increased at the same time, and the monthly sales of gac-e’an exceeded 20000. In March, the sales volume of 7 Shanxi Guoxin Energy Corporation Limited(600617) vehicles in Europe was objective, with a total sales of 197000 vehicles, a year-on-year increase of + 12.0%, a month on month increase of + 73.7%, the penetration rate increased to 22.9%, and the cumulative sales volume of 21q1 reached 424000 vehicles, a year-on-year increase of + 23.5%, a month on month increase of + 80.9%. In terms of Chinese Shanxi Guoxin Energy Corporation Limited(600617) auto enterprises, the sales volume of GAC AEAN / BAIC bjev in March was 20000 /5735 respectively, with a year-on-year increase of 189%/438% respectively; In March, the sales volume of krypton was 1795, with a month on month increase of – 38%, mainly due to the impact of the epidemic and tight chip supply; The sales volume of lantu reached 1400 in March, with a month on month increase of + 89%. The new model lantu dreamer will drive the continuous growth of lantu sales; Q & J M5 started delivery in early March, which promoted the significant growth of sales volume of Thalis. 3160 vehicles were delivered in March, a year-on-year increase of + 1668%.
Automotive Electric Intelligence continues to deepen, Tesla Texas factory opens, and Toyota will adopt a pure vision solution. 1) Electrification: Tesla Texas plant opened on April 7, which will become its highest production capacity plant in the United States; GM cooperates with Honda to develop economical electric vehicles Anhui Jianghuai Automobile Group Corp.Ltd(600418) transfer 1% shares of Anhui jianglai advanced manufacturing to Weilai, with equal shareholding ratio; Weilai is negotiating with its competitors on the technical license for battery replacement of electric vehicles. 2) Intellectualization: Toyota wovenplanet will adopt pure vision scheme Navinfo Co.Ltd(002405) cooperate with Honeywell in the field of automotive electronics; The patent of Xiaomi self driving vehicle is authorized.
Price increase tracking of automobile enterprises: this week, new energy automobile enterprises Tesla, Weilai, Chery and Jihu all announced price increases.
Follow up catalyst: Zhiji L7 will be delivered in April, and Jihu α S Huawei hi version is expected to be delivered in June; Xiaopeng G9 is determined to be released in June. In addition, the ideal L9 press conference originally scheduled for April 16 is confirmed to be postponed, and the specific time is to be determined; Guangzhou International New Energy Vehicle Intelligent Manufacturing Exhibition and Summit Forum will be held from 26 to 27 this month.
It is suggested to pay attention to the core target of Automotive Electric Intelligence and grasp the two main lines of “vehicle content” and “domestic substitution”:
1) intelligent driving: Will Semiconductor Co.Ltd.Shanghai(603501) , Shunyu optics, Lianchuang Electronic Technology Co.Ltd(002036) , Ningbo Yong Xin Optics Co.Ltd(603297) , Zhejiang Lante Optics Co.Ltd(688127) , Changguang Huaxin, etc
2) intelligent cockpit: Foryou Corporation(002906) , Wuhu Token Sciences Co.Ltd(300088) , Shenzhen Longli Technology Co.Ltd(300752) , Zhejiang Crystal-Optech Co.Ltd(002273) , etc
3) Electrification: Zhuzhou Crrc Times Electric Co.Ltd(688187) , Starpower Semiconductor Ltd(603290) , Yangzhou Yangjie Electronic Technology Co.Ltd(300373) , Hangzhou Silan Microelectronics Co.Ltd(600460) , Olympic Circuit Technology Co.Ltd(603920) , Electric Connector Technology Co.Ltd(300679) , etc
Risk warning: the penetration rate of electric vehicles is lower than the expected risk; The development of automobile intelligence is less than the expected risk; Risk of not updating the information used in the research report in time
