On June 25, Chery Automobile unveiled its Kunpeng Tianqing hybrid engine, achieving a peak thermal efficiency of 48.57%—a new global record for engines of this type. Thermal efficiency refers to the proportion of fuel energy converted into vehicle propulsion; conventional gasoline engines typically achieve efficiencies between 38% and 45%. Through structural optimization and enhanced combustion efficiency, Chery’s new engine can be adapted for various vehicle types, including plug-in hybrids and range-extended electric vehicles. The company is currently working to ensure mass-production stability and cost control for this engine. Around the same time, Geely launched a hybrid engine with a thermal efficiency of 48.41%, utilizing artificial intelligence algorithms to optimize fuel consumption. Meanwhile, Changan has begun mass-producing the world’s first 500-bar high-pressure direct-injection hybrid engine, which simultaneously improves both thermal efficiency and power response speed. Market data shows that Chinese automakers account for 59% of the global battery-electric vehicle (BEV) market share, compared to just 3% for Japanese automakers. In the internal combustion engine (ICE) and hybrid vehicle segment, Japanese automakers hold a 30% share, while Chinese automakers have 20%. By 2038, BEVs are projected to represent 49% of global new vehicle sales, though ICE and hybrid vehicles will continue to see steady demand. Chinese automakers are now integrating new-energy "three-electric" technologies (battery, motor, and power electronics) with high-efficiency internal combustion engines, reshaping the competitive landscape of the global hybrid vehicle market.