OEM Trends
On March 11, William Li, founder and chairman of NIO, said he hopes to offer the company's self-developed "Shenji" high-computing inference chip to a wider range of partners, spanning the automotive and embodied intelligence sectors. Li also stated that the company currently has no plans to spin off further business units. Just a day earlier, NIO revealed that its second smart chip, designed for a broader customer base, has successfully taped out. Several industry clients are already conducting preliminary tests and engagements, with mass production currently underway.
GAC Aion announced on March 11 that cumulative sales of its compact SUV, the Aion i60, have surpassed 28,000 units since launch. The vehicle offers both pure electric and extended-range powertrain options. Notably, the extended-range version features a 29-kWh battery at the 100,000-yuan price point, delivering 210 km of pure electric range, and is equipped with GAC's GSD driving assistance system.
Porsche reported group revenue of 36.27 billion euros for 2025, down from 40.08 billion euros in 2024. Group sales profit fell from 5.64 billion euros to 413 million euros. The decline was attributed to approximately 3.9 billion euros in special charges, primarily for product strategy adjustments and organizational optimization (about 2.4 billion euros), additional costs related to battery operations (about 700 million euros), and the impact of U.S. tariffs (about 700 million euros).
BYD has officially joined the International Automotive Task Force (IATF). As a leading representative in the global new energy vehicle sector, BYD will now work alongside other international automakers to help shape global core standards.
Intellectual property data from Tianyancha shows that Xiaomi Automotive Technology recently published a patent application for a "parking spot determination method, device, vehicle, medium, and program product." The abstract indicates the method involves acquiring initial obstacle information to identify a target set of obstacles, which is then used to determine a target parking spot. This technology allows for the identification of parking spaces even when obstructed, eliminating the need to rely on parking line markings.
Volkswagen Group announced in its annual report letter to shareholders that it plans to cut 50,000 jobs in Germany by 2030, as profits have slumped to their lowest level since 2016. CEO Oliver Blume stated that the additional job reductions will come from Audi, Porsche, and software subsidiary Cariad.
Supply Chain News
At the "AWE 2026 Chip Industry Summit" co-hosted by Dreame Technology on March 11, Dreame's ecosystem partner "Xinji Chuanyue" revealed its business roadmap for the first time. The company unveiled chip products spanning several frontier fields, including mobile processors, autonomous driving chips, personal super AI computers, pan-robot SOCs, and space computing centers. In the smart vehicle sector, Dreame is set to launch a highly integrated cabin-and-driving fusion chip. Built on a 2-nanometer advanced process, the chip delivers a massive 2,000 TOPS of computing power—triple the average of current high-end smart driving chips—enough to satisfy L4 autonomous driving requirements with a single unit.
Hesai Technology announced a partnership with BAIC Group. The company's refreshed ATX LiDAR has been designated for multiple BAIC models. According to the plan, mass production is set to begin in the second half of 2026, with deliveries to follow.
Tianqi Shares announced it recently won the bid for the general assembly and transport line capacity upgrade project at JAC Motor's Zunjie Super Factory (G2526). The project covers a comprehensive capacity upgrade for the assembly and transport lines to support an overall operating rhythm of 60 JPH. Tianqi will provide "one-stop" delivery for the project, ranging from design, manufacturing, and packaging to transportation, loading, unloading, installation, commissioning, training, and after-sales service.
Industrial Economy
Hong Kong stocks closed on March 11 with the Hang Seng Index down 0.24% and the Hang Seng Tech Index down 0.11%. Auto stocks led the gains, with NIO jumping 14%, WeRide rising 7%, and XPENG gaining nearly 4%. The lithium battery sector also strengthened, with CALB surging over 8% and CATL climbing 9%.
Data from the China Association of Automobile Manufacturers (CAAM) on March 11 showed that production and sales of new energy vehicles in February reached 694,000 and 765,000 units respectively, down 21.8% and 14.2% year-on-year. Despite the drop, NEV sales accounted for 42.4% of total new vehicle sales.
Further CAAM data for February revealed that among the top ten vehicle exporters, Chery's exports hit 124,000 units, a 44.1% increase year-on-year, capturing an 18.5% share of the total. Compared to the previous year, Tesla saw the most significant export growth, shipping 20,000 units—up 4.2 times.
Since the start of 2026, domestic machine tool companies have seen a significant surge in orders. Many manufacturers are actively expanding capacity and running at full tilt to meet demand. A company executive noted that orders from sectors like humanoid robots and new energy vehicles have surged since the beginning of the year, with production already booked through September. Market demand for high-precision, automated, and composite machine tool equipment continues to rise, driven by the rapid development of domestic high-end manufacturing and emerging fields such as humanoid robots, new energy vehicles, and aerospace. This trend creates new opportunities for domestic machine tool firms to break into the high-end equipment market.
Lightwheel Intelligence, a "unicorn" in the field of embodied intelligence data, recently completed 1 billion yuan in Series A++ and A+++ financing rounds. The round attracted several industrial scenario partners and financial institutions, including New Hope Group, Dingbang Investment (the family office of San'an Optoelectronics' chairman), Aux, and Dingshi Asset Management as industrial investors, alongside financial investors such as Jiantou Huake, Guofang Innovation, Daohe Long-term Investment, and Fresh Capital.
