股 票 研 究 Optimus 预计 27 年 toC 销售，宇树 25 年出货 5500 台机器人 [Table_Industry] 机器人 机器人行业周报 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 肖群稀(分析师) | 0755-23976830 | xiaoqunxi@gtht.com | S0880522120001 | | 刘麒硕(分析师) | 0755-23976666 | liuqishuo@gtht.com | S0880525080005 | | 毛冠锦(分析师) | 021-23183821 | maoguanjin@gtht.com | S0880525040081 | 本报告导读： 海外巨头战略深化，OpenAI 进军机器人领域，欧洲具身智能加速落地。国内新品 与场景作业多点开花，产量规模与数据要素双向突破。投融资市场需求旺盛，机器 人供应链与产能扩张。 投资要点： [Table_Report] 相关报告 机器人《1X Technologies 发布"世界模型"， Skild AI 获 14 亿 ...

Core Insights - Tesla's Full Self-Driving (FSD) system will see a price increase as its capabilities improve, with the current $99/month for supervised FSD expected to rise once unsupervised FSD is implemented [2][4] - The unsupervised FSD will allow users to engage in other activities, such as being on their phone or sleeping during the ride, marking a significant value enhancement for customers [2][3] FSD Price Hike - Elon Musk announced on social media that the price for supervised FSD will increase as the technology advances [2] - The anticipated "value jump" will occur with the introduction of unsupervised FSD, which allows for complete hands-off driving [2][3] Autopilot Changes - Tesla has discontinued the Autopilot feature in the U.S. and Canada, replacing it with Traffic-Aware Cruise Control for all new car purchases [3] Value Generation - ARK Invest, led by Cathie Wood, estimates that the FSD system could generate eight times more value for customers once unsupervised autonomy is achieved, making the current pricing a great deal [4] Driverless Robotaxis - Tesla has launched driverless Robotaxis in Austin, which operate on unsupervised FSD, with Musk claiming that autonomous vehicles are "essentially" solved by Tesla [5] - Concerns have been raised regarding the safety of these Robotaxis, as human-driven Tesla vehicles were observed following them, suggesting a potential shift in safety protocols [6] Insurance Collaboration - Lemonade Inc. has partnered with Tesla to reduce insurance rates by 50% for FSD-engaged driving, promoting the system as safer than human drivers [7] - This collaboration has faced criticism, with some investors labeling it a marketing gimmick rather than a genuine safety improvement [7]

Core Viewpoint - Elon Musk emphasizes the concept of "Abundance" during his discussion at Davos, suggesting that a future with an overflow of goods and services is imminent. He outlines a clear path to achieving this abundance through advancements in robotics and AI [1][2]. Group 1: Robotics and AI Development - Tesla has updated its mission statement to focus on building a "remarkable abundant world," with a clear timeline for its humanoid robot, Optimus, to perform complex tasks by the end of this year and to be available to the public by the end of next year. Musk predicts that within three to five years, the number of robots will surpass the human population [1]. - Musk forecasts that by the end of this year or next, AI will surpass human intelligence, and by 2030, AI will be smarter than all humans combined. He presents a formula for economic output based on the productivity of robots and their quantity, suggesting that AI-driven robots will lead to explosive economic growth [2]. Group 2: Energy Supply Challenges - Musk identifies electricity supply as the primary constraint for AI and future developments, stating that while chip production is rapidly increasing, the energy grid's expansion is lagging significantly. He warns of a potential scenario where there are sufficient chips but insufficient electricity to power them [2]. - He proposes a solution to the energy issue by suggesting that a solar panel installation in Utah or Nevada could meet the entire electricity demand of the United States. Musk praises China's solar energy deployment, which exceeds 1,000 gigawatts annually, as a model for stable power supply [2]. Group 3: Space-Based Solutions - Musk introduces the idea of deploying solar-powered AI data centers in space, where solar energy efficiency is five times greater than on Earth, and operational costs could be significantly reduced with the advent of reusable spacecraft. He anticipates the first solar AI data centers to be launched within two to three years [3][4]. - This approach could bypass terrestrial limitations such as land use, electrical grid constraints, and environmental regulations, allowing for rapid advancements in energy and data processing capabilities [4].

Investment Rating - The report maintains a "Positive" investment rating for the machinery equipment industry [6]. Core Insights - Tesla plans to sell humanoid robots to the public by 2027, with expectations for increased market interest and investment opportunities [3][9]. - The humanoid robot production capacity is set to accelerate, with Tesla aiming to produce 50,000 units in 2026 and ramping up to 1 million units by 2030 [9]. - Companies with strong manufacturing and operational capabilities are expected to gain higher market shares as humanoid robot sales increase and prices decrease [9]. Summary by Sections Industry Overview - The report highlights the rapid development of the humanoid robot industry, with Tesla's announcements indicating a faster-than-expected timeline for public sales [9]. Investment Recommendations - The report suggests several investment opportunities, including Top Group (601689, Buy), Sanhua Intelligent Control (002050, Buy), Wuzhou New Spring (603667, Buy), Hengli Hydraulic (601100, Not Rated), and Zhenyu Technology (300953, Buy) [3]. Market Expectations - The anticipated deployment of Tesla's humanoid robots in industrial settings by late 2026 is expected to enhance market expectations and create investment opportunities [3][9].

| 周三 1/28 | 日本央行公布12月货币政策: | | --- | --- | | | 加拿大央行公布利率决 | | | 【财报发布】 阿斯麦、星巴克 | | 周四 1/29 | 美联储公布利率决议 | | | 美国12月核心PCE物价指数 | | | 第五届东盟轨道交通国际峰会（马来西亚¡ | | | 【财报发布】微软、Meta、特 | | 周五 1/30 | 【新股申购】林平发展、电 | | | 【财报发布】苹果、西部数 | | 周六 1/31 | 中国1月PMI | | 周日 2/1 | 欧佩克+八个产油国就产油政策² | | | 世界顶尖科学家峰会（阿联酋迪拜 | 1月PMI数据将发布；美联储将公布利率决议；苹果、特斯拉、微软、Meta等美股科技巨头将集中披露财报…… ...

U.S. President Donald Trump (R) speaks to Apple CEO Tim Cook (L) as he attends a reception for business leaders at the World Economic Forum (WEF) Annual Meeting on Jan. 21, 2026 in Davos, Switzerland. Chip Somodevilla | Getty ImagesMoving between panels, hotel lobbies, and meetings this week, it often felt like two conferences were happening in the same snowy Swiss village.In one Davos, the mood was strikingly optimistic. Executives and investors spoke about artificial intelligence moving from hype to produ ...

watch nowElon Musk's pay package of up to $1 trillion highlights the continued escalation in CEO compensation, even as worker pay slows and rewards to shareholders remain mixed, according to several studies.  Already, Musk is the richest person on the planet with a net worth that tops $660 billion, according to Bloomberg. Musk saw his 2018 Tesla pay package -- now valued at over $130 billion -- reinstated in December, and his company SpaceX looks set to for a potential public offering in 2026. Those two eve ...

据Business Insider，特斯拉似乎正离在其工厂部署Optimus机器人更近一步，而奥斯汀将成为下一个训 练场。据知情人士透露，特斯拉在上周的员工大会上表示，计划开始在奥斯汀超级工厂收集数据，以训 练其人形机器人。该公司表示，其目标是训练Optimus如何在德克萨斯州的工厂内运行，并计划于2月份 正式开始。一年多来，特斯拉一直通过其加州弗里蒙特工厂收集数据并训练Optimus原型机。据了解该 项目的人士透露，为了避免干扰生产，弗里蒙特的Optimus数据收集员通常与普通工厂工人隔离开来。 马斯克周四在达沃斯接受采访时表示，特斯拉的人形机器人已经在其工厂执行"简单任务"，但他并未指 明具体任务。他表示："我认为到今年年底，它们将能执行更复杂的任务，但仍将部署在工业环境中。 到明年年底，我认为我们将向公众销售人形机器人。" 责任编辑：山上 美股频道更多独家策划、专家专栏，免费查阅>> ...

Group 1 - Xiaopeng Motors' Vice President Gu Jie and his core team visited Dong'an Power, discussing mass production projects and next-generation engine technology development [2] - Tesla announced a limited-time insurance subsidy of 8,000 yuan for certain Model 3 purchases from January 24 to February 28, 2026 [2] - Ninebot Intelligent received its first autonomous vehicle operation license in the UAE, with its RoboVan fleet now fully operational, totaling 16,000 units globally [2] Group 2 - Porsche's Panamera facelift prototype was spotted during road testing, indicating potential upgrades in hybrid technology and performance features [2]

消息人士：特斯拉计划在得克萨斯州工厂开始训练擎天柱机器人。 ...