L3级自动驾驶正式"持证上路" 记者了解到，这次公布的两款车型，来自重庆长安汽车股份有限公司和北汽蓝谷麦格纳汽车有限公司。 一款长安牌纯电动轿车，可以实现在交通拥堵环境下高速公路和城市快速路单车道内最高时速50公里的 自动驾驶功能，目前该功能仅限在重庆市有关路段开启。一款北汽集团旗下极狐牌纯电动轿车，可以实 现高速公路和城市快速路单车道内最高时速80公里的自动驾驶功能，目前该功能仅限在北京市有关路段 开启。 据工业和信息化部信息，下一步，两款车型将由重庆长安车联科技有限公司、北京出行汽车服务有限公 司两家使用主体在上述区域内开展上路通行试点。相关部门将加强车辆运行监测和安全保障，不断健全 智能网联汽车准入管理和标准法规体系，推动我国智能网联新能源汽车产业高质量发展。 12月15日，工业和信息化部公布我国首批L3级有条件自动驾驶车型准入许可，两款分别适配城市拥 堵、高速路段的车型将在北京、重庆两地指定区域开展试点。 "我国自动驾驶在发展进程中迈出了重要一步，L3级自动驾驶从测试阶段开始迈入商业化应用阶段。"同 济大学汽车学院汽车产业与技术战略研究中心主任王宁告诉上海证券报记者，这表明L3级自动驾驶技 术成熟度得 ...

新零售板块指数日K线图 张大伟 制图 除了智能驾驶概念外，零售板块昨日同样逆势走强。截至收盘，申万商贸零售指数收涨1.32%，涨幅居 所有一级行业首位，永辉超市、翠微股份、百大集团、中央商场等多股涨停。消息面上，商务部、中国 人民银行、金融监管总局近日联合印发《关于加强商务和金融协同 更大力度提振消费的通知》，指导 地方相关部门和金融机构加强协同，精准施策推动惠民生和促消费紧密结合，形成提振和扩大消费的更 大工作合力。 下跌板块方面，昨日跌幅居前的多是前期市场的热门品种。例如，在昨日国际金价高位运行的背景下， 申万贵金属指数收盘大跌4.91%，在所有行业中表现垫底，晓程科技、西部黄金跌超7%。此外，光伏设 备、风电设备、工业金属、影视院线板块昨日也高位回落，显示年底资金获利了结意愿仍较为强烈。 东方财富证券首席策略官陈果在近日发布的报告中表示，近期需要留意外部扰动因素，包括：虽然美联 储降息，但美债收益率近期呈现上升迹象，显示流动性环境未必非常宽松有利；美股呈现风格切换，科 技股短期波动较大，显示市场担心AI应用商业化进程；日本央行大概率将重启加息周期，配合大规模 经济刺激计划，进一步推升日债收益率并引发资本 ...

Core Viewpoint - The Ministry of Industry and Information Technology of China has officially granted conditional access permits for the first batch of L3-level conditional autonomous driving vehicles, marking a significant step towards real-world operation and commercialization of autonomous driving technology in China [1][2]. Group 1: Regulatory Framework - L3-level conditional autonomous driving is seen as a critical milestone in the development of autonomous driving, allowing vehicles to perform all dynamic driving tasks under specific conditions while requiring the driver to remain capable of taking control [2][3]. - The two models approved for conditional access are from Changan Automobile and BAIC Group's Arcfox brand, with specific operational limits: Changan's model can operate at speeds up to 50 km/h in congested traffic, while BAIC's model can reach 80 km/h in relatively smooth conditions [2][3]. Group 2: Testing and Safety Measures - The approval process involved collaboration among multiple government departments, ensuring comprehensive testing and safety evaluations of the vehicles, which included multiple safety redundancy designs in critical systems [3][4]. - The Arcfox Alpha S (L3 version) has undergone rigorous testing, completing over 800,000 kilometers of equivalent mileage tests, ensuring comprehensive coverage of its operational design domain [5][6]. Group 3: Industry Implications - The introduction of L3-level autonomous driving is not just a technological breakthrough but a systemic engineering challenge that involves collaboration across various sectors, including vehicle manufacturing, core components, software algorithms, and data governance [4][6]. - The approval of these vehicles provides real-world application scenarios for automakers and suppliers, fostering collaborative development across the industry chain [4][5]. Group 4: Future Outlook - Experts suggest that while the approval of L3 vehicles represents a milestone, the current operational scenarios are limited to simpler environments like highways and urban expressways, which aligns with safety requirements and technological maturity [6][7]. - The pilot program will involve designated operators, insurance requirements, and continuous monitoring of vehicle performance, with the potential for adjustments based on operational feedback [7].

Core Viewpoint - The market is focused on the limitations of the first two L3 conditional autonomous driving models, specifically regarding lane changing capabilities and speed restrictions [1] Group 1: Model Specifications - The two L3 models, Changan Automobile's Deep Blue SL03 and BAIC's Arcfox Alpha S, currently do not support lane changing [1] - The operational scenarios for Deep Blue SL03 are limited to specified congested traffic environments on highways and urban expressways within a single lane, while Arcfox Alpha S is restricted to designated highways and urban expressways in a single lane [1] - The maximum speed for Deep Blue SL03 in its operational scenario is set at 50 km/h, whereas Arcfox Alpha S has a higher limit of 80 km/h [1] Group 2: Technical Capabilities and Future Plans - Changan has the technical capability for intelligent lane changing but has opted not to include this feature in the initial approval for safety considerations, planning to incorporate it in future approvals [1]

Core Viewpoint - In November 2025, China's commercial vehicle sales increased by 24% year-on-year, with the truck market growing by 26%, slightly above the overall commercial vehicle market growth. The light truck segment, being the largest in the truck market, showed a mixed performance, raising questions about its competitiveness in the final month of the year [1][3][6]. Summary by Sections Overall Market Performance - In November 2025, the truck market sold 338,400 units, a month-on-month increase of 9% and a year-on-year increase of 26%. The light truck market sold 179,500 units, with a year-on-year growth of 7%, marking a "10 consecutive months increase" [3][4][6]. Light Truck Market Analysis - The light truck market's year-on-year growth of 7% in November was lower than the overall truck market's growth, indicating a recent decline in performance compared to earlier months. Cumulatively, from January to November, the light truck market grew by 6%, also lagging behind the overall truck market growth [6][28]. Historical Context - November is typically not a peak sales month for the truck market, with average sales in the last decade around 150,000 units. The 2025 November sales of 179,500 units ranked third in the last ten years, indicating a decent performance but not exceptional [8][10]. Company Performance - In November, nine companies sold over 10,000 light trucks, with Foton leading at 37,000 units, followed by Changan and Great Wall. The top five companies accounted for 56.07% of the market share [13][14][20]. - Year-to-date, Foton maintained the highest cumulative sales at 403,100 units, with a market share of 22.11%. Other notable companies included Changan, Great Wall, and Jianghuai, each exceeding 150,000 units in sales [20][21]. Growth Trends - Among the top ten companies, eight reported year-on-year sales increases in November, with Leap Motor and BYD showing significant growth rates of 142% and 70%, respectively. The overall light truck market growth was outpaced by several companies [18][19][23]. Market Share Changes - Compared to 2024, companies like Leap Motor and BYD saw notable increases in market share, while others experienced declines. The competitive landscape shifted, with Jianghuai and Changan moving up in rankings [26][28].

Core Viewpoint - The market is focused on the limitations and specifications of two L3 conditional autonomous driving models, namely the Deep Blue SL03 and the Arcfox Alpha S, particularly regarding lane changing capabilities and speed restrictions [2][3]. Group 1: Model Specifications - Both the Deep Blue SL03 and Arcfox Alpha S currently do not support lane changing [2]. - The operational scenarios for the Deep Blue SL03 are limited to specified congested traffic environments on single lanes of highways and urban expressways, while the Arcfox Alpha S is restricted to designated single lanes on highways and urban expressways [2]. - The maximum speed for the Deep Blue SL03 is set at 50 km/h, whereas the Arcfox Alpha S has a higher limit of 80 km/h [2]. Group 2: Regulatory Context - The Ministry of Industry and Information Technology (MIIT) has outlined a five-stage process for the trial implementation of intelligent connected vehicles, which includes trial application, product approval, road testing, trial suspension and exit, and evaluation adjustments [3]. - Currently, only two models have progressed to the road testing phase, while seven out of nine companies that entered the trial application stage have yet to receive L3 approval [4]. - Companies such as BYD, GAC, SAIC, FAW, NIO, SAIC Hongyan, and Yutong Bus are still awaiting L3 approval, while others like XPeng and Li Auto are in line for selection to join the trial [4].

Core Viewpoint - The Ministry of Industry and Information Technology (MIIT) of China has officially granted the first batch of L3 conditional autonomous driving vehicle permits to Changan Automobile's Deep Blue SL03 and BAIC's Arcfox Alpha S, marking a significant step in the commercialization of autonomous driving technology in China [1][2]. Group 1: Vehicle Permits and Specifications - The Deep Blue SL03 is equipped with Changan's self-developed "Tianshu Intelligent" driving assistance system, while the Arcfox Alpha S features Huawei's ADS intelligent driving system [1]. - The SL03 is permitted to operate in congested urban environments and on highways in Chongqing, with a maximum speed of 50 km/h [5]. - The Arcfox Alpha S can operate on highways and urban expressways in Beijing, with a maximum speed of 80 km/h [6]. Group 2: Industry Impact and Market Response - Following the announcement, shares of intelligent driving concept stocks surged, with companies like Wanji Technology and Jiuzhiyang hitting the daily limit [2]. - The approval of these vehicles reflects the government's support for the rapid transition from technology validation to mass production and commercialization of autonomous vehicles [2][9]. Group 3: Regulatory Framework and Future Prospects - The MIIT's issuance of permits is part of a broader initiative to establish a dual-track mechanism for product approval and road testing, ensuring safety while fostering innovation [9][10]. - The government aims to expand L3 autonomous driving trials in the coming year, with a focus on clarifying traffic safety responsibilities and enhancing regulatory frameworks [10].

Core Insights - The first batch of L3 conditional autonomous driving vehicles has been approved for entry, including Changan's SC7000AAARBEV and Arcfox's BJ7001A61NBEV electric cars [1] Group 1: Approval and Features - Changan Automobile's Deep Blue brand received approval for L3 autonomous driving capabilities, allowing for single-lane autonomous driving in congested traffic at speeds up to 50 km/h [1][2] - The speed range of 0-50 km/h was chosen based on user needs and safety considerations, focusing on urban congestion scenarios where drivers face frequent acceleration and deceleration [2] Group 2: Technology and Safety - Changan employs a seven-layer redundancy architecture for its L3 technology platform, integrating advanced perception systems including high-resolution 4D imaging radar and innovative micro-Doppler sensors [3] - The system is designed to handle various challenging scenarios, including adverse weather and sudden stops, ensuring optimal performance in critical situations [3] Group 3: Future Plans and Development - Changan plans to initiate road testing with its L3 technology in Q1 2026, targeting consumer market entry following the implementation of relevant national regulations [3][4] - The company has been developing L3 capabilities since 2017, with significant milestones achieved in 2020 and 2021, leading to its current status as a pioneer in L3 autonomous vehicle testing and evaluation [4]

Core Viewpoint - The Ministry of Industry and Information Technology of China has officially granted the first batch of L3 conditional autonomous driving vehicle permits, marking a significant transition from closed testing to commercial application in the autonomous driving sector [2][15]. Group 1: Approval and Implementation - Changan Automobile and BAIC Jihe have received approval to conduct road trials in designated areas of Chongqing and Beijing [2][15]. - Changan's vehicle can achieve autonomous driving in congested traffic conditions on highways and urban expressways at speeds up to 50 km/h, limited to specific routes in Chongqing [15][21]. - This approval positions Chongqing among the leading cities in China for autonomous driving applications, contributing to the development of standards, technology iteration, and industrial application [15][19]. Group 2: Market Growth and Industry Dynamics - The autonomous driving market in China is rapidly expanding, with projections estimating it will approach 450 billion yuan by 2025, driven by technological advancements and cost reductions [5][16]. - Numerous domestic automakers are accelerating their investments in the autonomous driving sector, with Changan leveraging its "Tianshu Intelligent" self-developed technology system for L3-level autonomous driving [5][16]. - The competitive landscape among automakers is fostering technological advancements, with hardware costs decreasing and software algorithms maturing, leading to more affordable smart configurations in vehicles [18][21]. Group 3: Infrastructure and Ecosystem Development - The transition of L3 autonomous driving from closed environments to open roads tests not only the technical capabilities of automakers but also the comprehensive capabilities of cities in terms of smart network ecosystems, regulatory innovation, and infrastructure [19][22]. - Chongqing has established 17 trial routes for intelligent connected vehicles, facilitating the testing of L3 and L4 autonomous driving capabilities [22]. - The successful implementation of autonomous vehicles will necessitate the development of new infrastructure, including roadside perception devices and traffic information systems, thereby stimulating related industries [18][22].

首批搭载L3级自动驾驶的车辆确定了。 12月15日，工信部等四部门联合发布了首批获得L3级"有条件自动驾驶"准入许可的车型名单，重庆长安汽车股份有限公司和北汽蓝谷麦格纳汽车有限公司 两家汽车企业的两款车型成为首批获得国家级"准生证"的量产车。 长安与北汽率先获批 中国汽车工业协会常务副会长付炳锋指出，此次L3级车型准入许可的发放，是我国汽车产业从"技术验证"迈向"量产应用"的重要标志。 值得注意的是，两款车型均为纯电动轿车，试点区域与功能场景呈现鲜明的地域适配性。 长安汽车获批的"长安牌SC7000AAARBEV型"轿车，是目前市场上的深蓝SL03，核心功能聚焦交通拥堵环境下的自动驾驶需求，可在高速公路和城市快 速路单车道内自主完成驾驶任务，最高行驶速度限定为50km/h。 其试点范围明确划定为重庆市内环快速路、新内环快速路（高滩岩立交—赖家桥立交）及渝都大道（人和立交—机场立交）等路段，后续将由重庆长安车 联科技有限公司作为使用主体开展上路通行试点。 吴迪/摄 北汽蓝谷麦格纳申报的"极狐牌BJ7001A61NBEV型"轿车则更适配高速畅通场景，可在高速公路和城市快速路单车道内实现最高80km/h的自动驾驶， ...