Central state-owned enterprises' new forces ignite a positioning battle
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Author | Zhou Zhiyu
Editor | Zhang Xiaoling
In China’s new energy vehicle market, where involution has become the norm, any conservative iteration is tantamount to regression.
Lantu Auto has also chosen to adopt an aggressive offensive strategy for its Lantu Dreamer model, raising the competition threshold in the high-end MPV market to a new level that rivals can hardly reach.
On September 15th, the 2026 Lantu Dreamer was officially launched. Its batch-delivered, mass-produced 800V intelligent hybrid, Huawei’s QianKun intelligent driving, and rear-wheel steering—these “cross-generational technologies” make this model stand out in the MPV market.
In an interview, Lantu CEO Lu Fang said bluntly that Lantu wants to be the "front-runner whose back others can’t even see."
Behind its heavy bet on product strength is Lantu’s imminent independent foray into the capital market. As Lantu’s core model, the Dreamer is naturally given an important mission. It not only needs to prove itself to the market as an "unavoidable benchmark model,” but also demonstrate Lantu’s value to investors.
Lu Fang and his team chose to significantly upgrade the already successful Dreamer, with the core logic being to use absolute technological leadership to break out of the circle of homogenized competition.
The trump card at the core of this is the first batch-delivered and mass-produced 800V LanHai intelligent hybrid technology. Matching this with a large 62.5 kWh battery and 5C ultra-fast charging, the Dreamer achieves an ultra-long pure electric range of 350 kilometers.
These specifications address the core pain points of users. Lu Fang frankly said this move comes from an authentic user insight: many Lantu users are embarrassed to use charging stations on highways. Lantu’s solution is to make hybrid charging speeds faster than regular EVs, so users actually dare to charge outside, ensuring a full “electric experience” throughout the journey.
Another killer feature is its strong partnership with Huawei. As intelligent systems converge, Lantu tries to tell a differentiated story.
CBO Shao Mingfeng describes it as a “soulmate” level deep collaboration: Huawei provides a strong brain, while Lantu’s robust vehicle platform, safety, and chassis technology provide a strong body to maximize performance.
Combined with the rear-wheel steering system, which gives a large car small-car agility, and AI zero-gravity massage seats based on real user needs, the 2026 Dreamer adopts an ‘all-in’ attitude, drawing a clear generational gap with all competitors in terms of technology and experience.
Behind this is Lantu’s core strategy of “competing on value, not price.” Once product strength becomes its own traffic generator, spreading and selling become much easier.
Dongfeng Group’s strategic focus has cleared the way for Lantu’s independent development, but also raised the bar. As Dongfeng’s sample of “best practice in autonomous operation,” Lantu must prove its ability to operate independently.
The capital market story ultimately boils down to the essence of business: profitability. Lu Fang makes no secret: "Internally, all Lantu products have clear requirements for gross margin and profitability. Sustained losses needing continuous capital injection is unhealthy."
This gives the 2026 Dreamer’s pricing and market performance financial significance beyond the product itself. It must prove that Lantu can not only build well-received cars, but also build best-selling and profitable models. The success of this model will directly define Lantu’s value anchor in the capital market, and provide valuable market confidence for follow-up products, such as the highly anticipated Chase L and six-seat SUVs.
Fortunately, the market is giving positive feedback. Lantu sales have risen for seven consecutive months, delivering over 13,500 units in August alone, with the brand’s momentum climbing. Lu Fang attributes this momentum to user recognition. The market trust accumulated through strong product power is also the confidence behind Lantu’s venture into the capital market.
The launch of the 2026 Lantu Dreamer marks Lantu bringing its sharpest weapon to the frontlines of the battlefield. From an industry perspective, this is not just a car’s iteration, but an intentional shakeup of the high-end new energy MPV market’s status quo.
Lantu is trying to upgrade technology in one leap, dragging competitors into a higher-threshold arms race. In the past, competition in the MPV market was relatively one-dimensional. Now, 800V, advanced intelligent driving, rear-wheel steering, and luxury cabin experience are being defined by Lantu as the standard package for the new flagship generation. This is no longer simple product competition, but a reshaping of the rules of the track, accelerating industry reshuffling and forcing all players to either follow or exit.
Whether it can continue its success will determine the future ownership of China’s high-end MPV “throne” for years and be the ultimate test of whether Lantu can reach the top with its “state-owned enterprise background + new force mechanism” model. The old market pattern has been invalidated; the new power sequence is being rewritten.
The following is a (edited) conversation with Lantu Auto CEO Lu Fang and CBO Shao Mingfeng:
Q: For the just-launched 2026 Lantu Dreamer, you use Huawei’s QianKun intelligent driving and HarmonyOS cockpit. In fact, not only Lantu but many car companies now use Huawei’s smart systems. How does Lantu show its differentiated advantages?
Shao Mingfeng: We’ve mentioned our cooperation with Huawei on several occasions. Firstly, our collaboration with Huawei is truly a strong alliance, and it’s not an exaggeration to say that Huawei also feels Lantu’s deep strengths in whole-vehicle manufacturing. We once used this metaphor: Even a powerful brain needs a powerful body, and Lantu’s capability in platform architecture and overall vehicle safety allows us to push Huawei QianKun’s performance to the limit. For example, with the same Huawei system, why can only Lantu reach 130 km/h zero-to-hundred braking limit? It’s our car-making prowess supporting this.
Secondly, Lantu and Huawei empower each other as “soulmates,” growing together. Huawei brings us significant empowerment in smart driving and the cockpit, and, at the same time, Lantu’s excellent sales and market performance provide a high-quality validation platform and communication base for Huawei’s intelligent driving system. The opening rate for the Dreamer’s smart driving functions is extremely high, leading in one indicator; the Lantu FREE+ has already stabilized in the top three for mid-to-large SUVs, becoming a major force for Huawei’s smart driving. One could say, Huawei achieves Lantu, Lantu achieves Huawei.
Lu Fang: To add, we have a long-term cooperative relationship with Huawei. I’ve previously said, we share a wish: to let Chinese customers truly experience the outstanding results of combining China’s new energy vehicles with smart products. Currently, Lantu FREE+ and Lantu Dreamer are both top-tier models in their segments, enabling more users to enjoy a luxury NEV experience. We are confident and certain that our cooperation with Huawei is definitely ahead of other brands.
Q: Considering the model has already been so successful, why did you still choose major upgrades for the 2026 model instead of small fixes?
Lu Fang: The Lantu Dreamer was officially launched on May 7, 2022, as the first high-end smart MPV developed on a pure EV platform at the time. In 2022, the industry mainly focused on infotainment systems and L2 driver assist, but the Dreamer already pioneered a new era. In 2023, responding to market and user feedback, we raised the hybrid’s EV-only range to 236 km—still industry-leading now—yet we have now outdone ourselves with a 350 km pure electric range. By September 2024, upon delivering Dongfeng’s 60 millionth vehicle, we also gave the Dreamer a major upgrade in intelligence, blending Huawei’s QianKun driving and HarmonyOS cockpit, turning it into a truly intelligent luxury hybrid MPV and quickly becoming a phenomenon. This year, we’ve made another leap: deploying 800V LanHai intelligent hybrid for the first time and delivering it, introducing rear-wheel steering and AI zero-gravity seats—continuously advancing China’s MPV technology.
Each of our iterations is based on deep communication with users and real-life use scenarios. For example, the 800V intelligent hybrid technology was inspired by user feedback—many Lantu users are embarrassed to use highway charging stations. Some, in order to fully charge, occupy chargers for a long time. Many pure EV users can’t even get a charger, or don’t want to fight for them, even though our 400V product was quick to charge. So we built 5C ultrafast charging and the 800V platform to make charging even faster than pure EVs, so users dare to charge on the go, ensuring a fully “electric” experience.
Q: Regarding industry-wide and Lantu’s own profit margins, how do you consider the car’s pricing and profits?
Lu Fang: Lantu has always opposed involution and price wars. As a state-owned enterprise, we take on more responsibility: we are obligated to maintain the healthy, sustainable, and high-quality development of the industry so that we can serve more users in the long run. This is not just essential to business operation, but also about whether we can continue to provide quality service for users. So within Lantu, every product has a clear gross margin and profitability requirement; every product must be self-sustaining. Sustained losses requiring repeated bailouts is unhealthy.
Q: Lantu is making a strong push into the high-end market. What other challenges do you face in the premium segment?
Shao Mingfeng: Firstly, while price somewhat defines market positioning, it’s not all. Dongfeng Group has multiple brands—Mengshi, Yipai, etc.—with distinct positioning. Lantu remains focused on the mid-to-high end.
Second, regarding the challenges of high-end, current competition is indeed fierce. Chinese brands must keep building their product and tech “moats.” Macro-economic cycles also bring uncertainty, with market hot-cold fluctuations affecting everyone. Under such stock competition, resilience is key.
Third, we must not choose the wrong track. Lantu always puts user needs at the center. Fortunately, we entered NEVs early and chose the right path. Our LanHai power and platform architecture support range-extender, plug-in hybrid, and pure EV, and the lineup covers SUVs, MPVs, and sedans. Lantu already shows strong performance in SUV/MPV; sedan Chasing Light L is much anticipated. No matter the powertrain or type, we are ready. Of course, our marketing and retail capabilities need to improve, requiring more talent and resources. Lantu will stay product and tech focused, aiming to lead the high-end NEV segment.
Lu Fang: Briefly, on the challenges for high-end Chinese brands—In the smart, connected new energy vehicle space, every brand has a big opportunity. Many traditional ICE and so-called luxury brands are not performing well in this track; their brand advantages haven’t been fully realized in electrification, leaving a window for Chinese newcomers.
In this NEV and smart connected vehicle era, all brands face a chance to reshape the industry. Many established luxury brands’ past advantages haven’t translated in the EV transition, opening a window for China’s new brands. Lantu has grown quickly in five years, but challenges remain—the key is how users perceive us and how the market sees us.
This is Lantu’s 5th anniversary; we’re arguably the fastest growing brand in the industry. But behind that, the challenge is: how do users understand you, how does the market see you? Brands can’t just talk to themselves. We have to persist in product innovation and user experience improvements, winning recognition through long-termism and insight into changing user needs and the market. In a mature market, continuous innovation and experience enhancements are a must.
The launch of the 2026 Dreamer is all about this. For R&D, it’s actually harder: it’s easier to have a benchmark and follow it. Now Dreamer has become the benchmark and has no reference competitor. I admit I’m anxious: What next step of innovation do we take, since we no longer have rivals? This forces us into truly original and forward-thinking innovation. Only by original breakthroughs, seeing user needs before they realize them, leading with technology, can we keep delivering truly high-end experiences. All this requires a strong internal drive to identify and break through more user-relevant innovations.
Q: Right now, big SUVs are really hot, many blockbusters are appearing, and you’re working with Huawei—what’s your view of the 6-seat SUV market?
Lu Fang: The 6-seat SUV market is big enough; China’s market is big enough to accommodate large 6-seat SUVs. As families upgrade in the future, luxury SUV users will shift to domestic brands—not just Lantu, but other Chinese brands too. I think this will be a big trend and the market will become very large.
Q: On August 22, Dongfeng Motor announced Lantu will go public in Hong Kong via an introduction. What’s your vision?
Lu Fang: With Dongfeng’s strong support, Lantu has achieved rapid growth. In the future, we hope to continue contributing to the group, fulfilling our duties as a subsidiary and working with our partners to strengthen China’s NEV industry. Judging from first half data, Dongfeng’s new energy vehicle sales lead the sector in both absolute volume and growth. We especially want to help the group’s NEV transition, from technology and brand to sales and profits, comprehensively supporting group strategy.
Also, Dongfeng is more than just one NEV brand. The group gives Lantu another mission: to become a best-practice sample for independent operation via systemic innovation. We’ll deepen reforms and innovation to support high-quality, sustainable development. This listing plan shows Dongfeng’s determination in SOE reform—since the group is so determined, Lantu will deliver the best business results to help realize the group’s transition and growth objectives.
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