2023上海国际车展：自主新能源技术百花齐放2023 Shanghai International Auto Show:Domestic EV Technologies are BloomingBarney Yao barney.sq.yao@htisec.comOscar Wang sy.wang@htisec.com 2023年4月21日本研究报告由海通国际分销，海通国际是由海通国际研究有限公司，海通证券印度私人有限公司，海通国际株式会社和海通国际证券集团其他各成员单位的证券研究团队所组成的全球品牌，海通国际证券集团各成员分别在其许可的司法管辖区内从事证券活动。关于海通国际的分析师证明，重要披露声明和免责声明，请参阅附录。(Please see appendix for English translation of the disclaimer)Equity – Asia Research目录2For full disclosure of risks, valuation methodologies and target price formation on all HTI rated stocks, please refer to the latest full report on our website at equities.htisec.com1. 2023上海车展核心要点2. 车企新车预览3. 车企核心观点3•国内新能源玩家均有重磅新车或纯电战略发布，传统车企全系电动参展显决心，整车车展150余款新车NEV占2/3，进一步挤压燃油车份额•仰望、蔚来、极氪等关注度很高，合资德系日系展台遇冷•插混或增程为主要技术路线的车企开始转向纯电，普遍推出大于600km的长续航里程纯电车型•无框车门、电吸门、座椅多级电动调节、hud、空悬等豪华配置在大众市场开始规模上车•极氪、哪吒等国内车企宣布进军欧洲，新能源出海进程加速•ADAS成车企智能化主战场，宣传很少提及L4，逐渐回归理性聚焦落地的场景，L2-3级智驾解决方案内卷加剧•车企和供应商边界逐渐被打破，汽车产业链分工从OEM、Tier1、Tier2的层级结构转变为生态圈结构•国产激光雷达厂商上车情况碾压海外厂商，速腾超半数展现先发优势，规模效应初显For full disclosure of risks, valuation methodologies and target price formation on all HTI rated stocks, please refer to the latest full report on our website at equities.htisec.com2023上海车展核心要点车企新车预览4For full disclosure of risks, valuation methodologies and target price formation on all HTI rated stocks, please refer to the latest full report on our website at equities.htisec.com•自主传统品牌：比亚迪仰望U8、腾...
