<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/87b0288b-82c4-4c12-b708-4da181e0b545.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/87b0288b-82c4-4c12-b708-4da181e0b545.png"/>
Author | Chai Xuchen
Editor | Wang Xiaojuan
What truly shocked the automotive industry at the beginning of the year turned out to be a joint venture brand.
While the market was still marveling at the bold pricing of the Buick Regal at 106,900 yuan, GAC Toyota's BZ3X directly announced a starting price of 104,800 yuan after incentives, while also bringing laser radar and a one-piece end-to-end intelligent driving capability under 140,000 yuan.
The pure electric king bomb from the joint venture has finally arrived. This time, it’s not just about configuration and product strength, but also the first large-scale breakthrough of the joint venture sequence into the mainstream market. That evening, during a self-deprecating segment by stand-up comedians Xu Zhisheng and Hulan about joint venture brands, the orders for GAC Toyota's &#34;first car of the new force&#34; quickly surpassed 10,000, causing the server to crash at one point.
It is evident that at this juncture of intelligent equality, this Japanese joint venture giant is determined to set aside its past achievements and humbly release its sincerity to the mainstream market, responding to the new forces with &#34;countermeasures.&#34;
The process of the elephant turning around may signal the joint venture &#34;old money&#34; starting to fight back, reclaiming lost market share and voice.
<h2>King Bomb</h2>
When GAC Toyota announced the BZ3X's starting price at 109,800 yuan (104,800 yuan after incentives), the venue erupted.
As GAC Toyota's heavyweight model in the new energy sector, the BZ3X has attracted significant attention since its debut. After months of anticipation, its pricing turned all expectations into shock.
&#34;This is GAC Toyota's first true new force product, a car that pays tribute to the new forces in intelligent technology,&#34; said Zhang Bin, head of GAC Toyota's marketing department, to Wall Street Insights.
Behind GAC Toyota's humility is actually a &#34;sunshine strategy&#34; to respond to the new forces.
According to Zhang Xiang, a visiting professor at the Yellow River Science and Technology College, in recent years, joint venture automakers have approached new energy in a rather methodical manner. Due to issues with technological reserves and judgment, the market has often had the impression of being &#34;a step behind,&#34; and pricing has been unable to shake off the &#34;long gown&#34; of the once glorious era.
However, the arrival of the BZ3X directly shattered this stereotype and penetrated the price barriers of the &#34;new waves,&#34; demonstrating a willingness to engage in close combat with domestic brands.
It is worth noting that in the past, domestic brand SUVs with similar configurations would cost at least 200,000 yuan, while the BZ3X has directly brought the price down to the 140,000 yuan level. Previously, elements such as intelligence, space, and quality that needed to be weighed against each other have all been ALL IN by GAC Toyota.
In terms of hardware, the BZ3X is equipped with a sensor matrix that includes laser radar, and it also features the OrinX chip with nearly eight times the computing power of entry-level advanced driving chips, providing maximum computing power within cost control limits.
On the software side, the vehicle is equipped with Momenta's latest &#34;one-piece end-to-end&#34; advanced driving large model. GAC Toyota stated that this intelligent driving large model can currently achieve &#34;human-like driving.&#34;
In addition, the 14.6-inch large screen, the 8155 chip, and the voice interaction experience covering all seating positions have all been incorporated into the Platinum Smart 3X.
When Xu Zhisheng and Hulan appeared, everyone realized that GAC Toyota was aiming to penetrate the young market with this vehicle and break the ceiling of joint venture new energy vehicles.
Looking solely at the joint venture market, there are not many compact new energy SUVs available for around 150,000 yuan. Apart from the ID.4 series, which can maintain a monthly sales level of 2,000 to 3,000 units, other models like the Kia EV5, Nissan Ariya, and Honda Lingguang sell only a few hundred units or even single digits per month.
Clearly, the Platinum Smart 3X has seized this gap. The report of breaking 10,000 units that night is a reward from the market.
However, it is important to note that joint venture automakers have always been stuck in the &#34;impossible triangle,&#34; struggling to balance intelligence, pricing, and development time. The key to the Platinum Smart 3X breaking through lies in GAC Toyota's own revolution.
Unlike the previous approach of introducing global vehicles and then implementing local adaptations, the Platinum Smart 3X is entirely based on the needs of Chinese users and is led by a localized team. The chief project leader is Liu Wenbin, the technical director of GAC Toyota, breaking the previous convention of Japanese engineers at the helm.
The willingness to actively lower their stance and engage in fierce competition stems from GAC Toyota's clear understanding of the true nature of competition—when BYD, Changan, Geely, and others sound the horn for equal rights in intelligent driving, the domestic auto market has truly entered an era of fierce competition. Only the &#34;survivors&#34; who remain can have the opportunity to redefine the market and set the rules.
<h2>Changing Fate</h2>
&#34;Nowadays, the competition in the second half of intelligence is no longer determined by individual models, but has entered the level of ecological warfare,&#34; an industry analyst told Wall Street Insight.
Looking at the market, new forces like Huawei, Xiaomi, and Li Auto are attacking the summit of intelligent driving technology, branding themselves with AI technology; traditional automakers like BYD and Changan are raising the banner of universal intelligent driving, reinforcing the mindset of equal rights and standard configurations for users.
Currently, Toyota still ranks as the sales champion in the global market, backed by its economically durable brand gene that has withstood the test of time. However, in the domestic market, the glorious era of joint venture automakers has long since ended.
Joint venture automakers did not anticipate that changes in the Chinese auto market would happen so quickly. The originally expected penetration rate of new energy vehicles reaching 50% was anticipated to be achieved by at least 2035, but it has been advanced by a decade.
&#34;Our product layout cannot keep up with the rapid changes in the Chinese market, and we have become passive. If we do not undergo rapid transformation, we will only fall into crisis,&#34; said Wen Dali, executive vice president of GAC Toyota, sensing the crisis.
Clearly, joint venture automakers like GAC Toyota need a new label to strengthen their brand identity.
GAC Toyota's senior management is very sincere in their self-assessment. In the field of three electrics, whether it is hybrid, plug-in hybrid, or supply chain reserves, Toyota is a leader. However, in the field of intelligence, including electronic platforms, intelligent driving, and intelligent cockpits, Toyota has lagged behind.
In November 2023, GAC Toyota declared, &#34;Joint ventures are not a representation of being behind&#34;; last November, at the milestone of its 20th anniversary, GAC Toyota vowed to carry out revolutionary structural reforms under the joint venture 2.0 system
The question facing GAC Toyota is how to catch up with new forces?
With an old map, it is impossible to find a new continent. GAC Toyota has begun a &#34;technology puzzle,&#34; collaborating with leading intelligent suppliers like Momenta to quickly fill in the gaps. In terms of intelligent cockpit, Toyota has introduced Huawei's solutions for voice interaction and full-scenario connectivity, while Tencent provides support for in-car entertainment software, cloud platforms, and data security.
It hopes to leverage domestic technological strength to support intelligence and sit at the same table with new forces. It is worth mentioning that Toyota is also strengthening its binding with partners at the capital level; it is not only one of the leading investors in Momenta's Series C financing but has also become the second-largest shareholder of Pony.ai with a 13.4% stake.
Wen Dali told Wall Street News that when one's own strength is insufficient to meet market demand, integrating social resources becomes a method.
In addition, in this comprehensive battle, GAC Toyota is also trying to re-identify changes in market demand. Insiders revealed to Wall Street News that the company used to conduct mostly focus group interviews, but now has shifted to in-depth interviews, not only discussing car purchase needs but also understanding users' work experiences, life experiences, and family interactions to dig deeper into needs and integrate them into products.
Wen Dali described GAC Toyota as undergoing a &#34;second entrepreneurship.&#34; It is carrying out structural reforms in various fields such as product definition, research and development, manufacturing, and marketing, fighting back against the transition to new energy.
At this moment, the battle of the Platinum Smart 3X has allowed GAC Toyota to undergo a transformative leap in &#34;product definition, local R&amp;D, and marketing communication.&#34;
When joint venture car companies roll out intelligent solutions with a do-or-die determination, the barriers between old and new forces will be immediately breached. How much of a moat is left for the new forces?
Market participants believe that the Platinum Smart 3X is not only GAC Toyota's first new force SUV but also a template for joint brands in the intelligent electric track. Industry insiders predict that this year will be a collective counterattack year for joint brands; as long as one finds the right direction, the recovery of joint ventures will happen quickly.
Risk Warning and Disclaimer
The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account individual users' specific investment goals, financial conditions, or needs. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investing based on this is at one's own risk

601238

02238

The joint venture brand GAC Toyota has launched the Platinum Smart 3X, with a starting price of 104,800 yuan, marking a strong counterattack from joint venture electric vehicles. This model not only features lidar and intelligent driving capabilities but also breaks the stereotype of joint venture car companies, demonstrating a determination to compete with domestic brands. The release of the Platinum Smart 3X has sparked enthusiastic responses, with orders quickly exceeding 10,000, showcasing the transformation and innovation of joint venture brands in the new energy market

- GAC Toyota's launch of the Platinum 3X at a starting price of 10.48 million yuan marks a significant shift in the joint venture market, introducing advanced features like lidar and high-level autonomous driving capabilities.  
- This model aims to compete directly with domestic brands by breaking the price barrier for similar configurations, showcasing a commitment to local market demands and innovative technology.  
- Analysts suggest that the Platinum 3X could signal a collective resurgence for joint venture brands in the electric vehicle sector, as they adapt to rapidly changing market dynamics.

Joint venture electric vehicles launch the strongest counterattack