According to research reports from China Securities, the first half of the battle for vehicle electrification has been decided, while the second half will see a competition in smart technology, overseas markets, and segmented markets. 1) Smart technology: driven by policies, technology, and cost, the development of smart technology is accelerating. It is expected to further strengthen the leading technology index of smart technology, as well as the brand advantages of car brands with strong research and development capabilities. Expanding the product matrix and exploring lower price bands can also promote production and sales volume. 2) Overseas markets: the global vehicle market has a large production and sales scale, and overseas sales have high profitability. By exporting and building local factories, car companies can significantly broaden their sales and profit growth space. 3) Segmented markets: Besides cultivating the family car market, car companies can expand the market share of MPV, off-road, sports car and other segmented markets, as well as hybrid, swappable and other forms of energy supplementation, which are expected to bring more incremental markets. We Recommend paying attention to BYD Company Limited, Chongqing Changan Automobile and Anhui Jianghuai Automobile Group Corp.,Ltd.