In September, the top three countries for total Chinese auto exports are Russia, Belgium, and Mexico

On October 24, Cui Dongshu, Secretary-General of the China Passenger Car Association, stated that in September, the top 10 countries for total Chinese auto exports are: Russia with 144,437 units, Belgium with 35,043 units, Mexico with 29,876 units, UAE with 27,771 units, Saudi Arabia with 23,828 units, Philippines with 18,304 units, Spain with 17,411 units, Kazakhstan with 15,185 units, Australia with 14,283 units, and Brazil with 13,162 units. Among them, the top 10 countries in total new energy vehicle exports are: Belgium with 33,555 units, Philippines with 13,362 units, Spain with 10,735 units, Israel with 9,835 units, India with 7,075 units, UAE with 6,874 units, the UK with 6,855 units, Germany with 5,973 units, Australia with 5,939 units, and Thailand with 5,827 units.

Cui Dongshu: The driving force behind export growth is 'heaven helps, high quality, human effort, and geopolitical changes'.

Xpeng P7+ full range standard AI smart driving is expected to achieve L4 level partial 'self-driving' in certain scenarios by 2026.

On October 24, Li Liyun, head of intelligent driving at Xpeng Motors, stated that Xpeng's future autonomous driving competition is in the cloud. After the Xpeng cloud model goes live, the parameter quantity can reach 80 times the car's end, with time + space understanding capabilities. By 2025, the cloud computing power will exceed 10EFlops. The Xpeng P7+ will no longer differentiate between Max and Pro versions, all equipped with AI driving as standard. Additionally, by the third quarter of 2025, Xpeng's end-to-end large model will achieve intelligent assisted driving similar to L3, with less than 1 intervention per 100 km; by 2026, it will achieve partial 'person not in the driver's seat' driving in low-speed scenarios at L4 level.

Financial Association Auto: The competition for cloud-based large models for intelligent driving kicks off.

BMW and Mercedes-Benz jointly launch the 'Yi'anqi' ultra-fast charging brand

On October 24th, BMW and Mercedes-Benz jointly launched the high-end ultra-fast charging brand 'Yi'anqi', which was officially released, and the first batch of Yi'anqi ultra-fast charging stations started operation. According to the plan, by the end of 2026, the company will establish at least 1000 super charging stations domestically, with approximately 7000 super charging piles. The first batch of charging piles is scheduled to start operation in key new energy vehicle cities in China in 2024, and the subsequent construction of charging stations will cover other cities and regions nationwide.

Finance Association Automotive: The cooperation between the two major car companies in the field of new energy is deepening.

Xiaoma Zhixing signed a cooperation memorandum with Luxembourg travel company to land autonomous driving technology and products in Europe.

On October 23rd local time, Xiaoma Zhixing signed a memorandum of cooperation with Emile Weber, the travel company in Luxembourg, to jointly promote the research and deployment of autonomous driving vehicles and technology in Luxembourg. Previously, Xiaoma Zhixing established a European R&D center in Luxembourg in September this year, focusing on exploring and developing cutting-edge technologies in the field of autonomous driving to introduce customized solutions for the European market. According to the plan, Xiaoma Zhixing will promote the landing of autonomous driving technology and products in Luxembourg and the entire Europe, as well as carry out industrial cooperation based on this center.

Finance Association Automotive: This is another progress for Xiaoma Zhixing after signing a memorandum of understanding on autonomous driving with the Grand Duchy of Luxembourg government in March this year.

Tsinghua-BMW China Institute of Sustainable Development and Innovative Travel established

On October 24th, witnessed by BMW Group Director Quirzep, the 'Tsinghua-BMW China Institute of Sustainable Development and Innovative Travel' was officially established during his third visit to China this year. This cooperation focuses on the strategic direction of 'future travel', deepening cooperation in cutting-edge fields such as artificial intelligence, V2X vehicle networking technology, solid-state batteries, etc.

Finance Association Automotive: BMW continues to deepen its presence in the Chinese market.

Tesla's third-quarter report exceeded expectations and is expected to launch an affordable car model in 2025.

On October 24, Tesla released its third-quarter financial report, showing revenue of $25.18 billion in the third quarter of this year, analyst expectations were $25.43 billion, compared to $23.35 billion in the same period last year; adjusted earnings per share were $0.72, analyst expectations were $0.60; gross margin was 19.8%, analyst expectations were 16.8%; operating profit was $2.72 billion, analyst expectations were $1.96 billion. Tesla expects a slight increase in car deliveries in 2024, with Cybertruck achieving positive gross margin for the first time. Tesla also revealed plans to launch an affordable car model in the first half of 2025. Musk predicts Tesla's car sales to grow by 20%-30% next year; Cybercab will achieve mass production in 2026 with a target of producing at least 2 million units per year.

Financial Association Automotive: The launch of a new model priced around $0.03 million will undoubtedly further enhance Tesla's competitiveness.

Renault Group: Revenue in the first three quarters was 37.7 billion euros, a year-on-year increase of 0.8%.

On October 24, Renault Group announced its third-quarter financial report for 2024. During the period, the group's revenue was 10.7 billion euros, an increase of 1.8% year-on-year, and a 5.0% growth calculated at fixed exchange rates. In the first three quarters of 2024, Renault Group's revenue was 37.7 billion euros, a year-on-year increase of 0.8%, and a 3.7% growth calculated at fixed exchange rates. In addition, Renault Group maintained stable sales in the first three quarters of 2024 compared to the same period in 2023, selling a total of 1,637,225 cars.

Financial Association Automotive: Renault Group achieved sales growth leveraging the vitality of its three major car brands.

Hyundai Motor: Operating profit in the third quarter decreased by 6.5% year-on-year.

On October 24, Hyundai Motor released its performance report, with operating profit in the third quarter of this year decreasing by 6.5% year-on-year to 3.5809 trillion Korean won (approximately RMB 18.5 billion); sales increased by 4.7% year-on-year to 42.9283 trillion Korean won, setting a record high for the same period in history. Due to bearish factors such as slower growth in global markets like Europe and escalating geopolitical risks, Hyundai Motor's global sales in the quarter decreased by 3.2% year-on-year to 1.011807 million vehicles.

Caifn Automotive: Hyundai Motor's third-quarter performance fell short of expectations.

Thailand's automobile production this year may fall below the target of 1.7 million vehicles.

On October 24, data released by the Thai Industrial Association showed that in the first 9 months of this year, Thailand's total automobile production was 1.13 million vehicles, accounting for about 66% of the annual target. The Thai Industrial Association stated that due to the impact of domestic sales decline and tight credit factors, Thailand's automobile production this year is expected to fall below the target of 1.7 million vehicles.

Caifn Automotive: The Thai car market faces multiple challenges.

(Compiled/Commented by Liu Yang, Caixin reporter)