Workflow
天风证券:小鹏汽车-W(09868)披露自研世界模型进展 维持“买入”评级
XPENGXPENG(HK:09868) 智通财经网·2025-04-19 01:10

Core Viewpoint - Xpeng Motors is advancing its self-research capabilities with a clear roadmap for self-developed chips, robotics, intelligent driving, and foundational models, expecting strong sales and revenue growth in the coming years [1][2]. Group 1: Product Launch and Sales Expectations - Xpeng Motors has launched the new X9 electric MPV, starting at a price of 359,800 yuan, with expectations for sales to surpass previous models [1][5]. - The X9 is available in four versions, all equipped with Turing AI driving technology and featuring zero-gravity seats in the rear [5]. - The company anticipates a strong product cycle with the upcoming G7 and extended-range models later this year [1]. Group 2: AI and Autonomous Driving Developments - Xpeng has revealed its development of a 720 billion parameter large-scale autonomous driving model, named the "Xpeng World Base Model," which is set to support advanced driving capabilities [2][4]. - The company has established a computing cluster to support the training of this model, achieving a computing power of 10 EFLOPS with high operational efficiency [3]. - The model is designed to perform complex reasoning and interaction with the physical world, enhancing the capabilities of future intelligent driving systems [4]. Group 3: Chip Development and Future Technologies - The Turing AI chip, designed for high-performance AI applications, is expected to begin mass production in the second quarter of 2025, providing significant computational power for autonomous driving and robotics [6]. - Xpeng's plans include the mass production of flying cars by 2026 and the industrial-scale production of the IRON robot, which will utilize the Turing AI chip [6].