Core Viewpoint - Xiaopeng Motors has launched the new G7 model, which is priced higher than expected, positioning it as a family-oriented large SUV with advanced technology and aesthetics [1] Pricing and Model Details - The G7 is available in three versions: - 602km Max version with dual Orin-X chips priced at 195,800 yuan - 702km Max version with dual Orin-X chips priced at 205,800 yuan - Ultra version with three Turing AI chips priced at 225,800 yuan - The G7 is the world's first electric vehicle with L3 computing power, featuring a 5C supercharging battery and an 800V SiC platform [1] Hardware and Software Upgrades - The G7 Ultra features three Turing AI chips, providing an effective computing power of 2250 TOPS - The software includes the industry's first local VLA+VLM large model, enhancing autonomous driving capabilities with a new "sports brain" for improved learning [1][2] - The vehicle supports human-machine co-driving and can autonomously recognize ETC and perform line parking [1] Future Software and Hardware Enhancements - VLA software OTA updates are scheduled for September 2025, with VLM hardware upgrades in November 2025 - By December 2025, the system will learn individual driving habits and enable voice control and proactive recommendations [2] Intelligent Chassis and Cabin Features - The chassis includes advanced AI capabilities for identifying road conditions and obstacles, with features like intelligent variable damping and 6D anti-motion sickness [2] - The cabin is powered by Turing AI chips and Qualcomm 8295P, providing a computing power of 800 TOPS, supporting multi-modal AI capabilities and enhanced driving assistance [2] Financial Projections - Revenue forecasts for 2025, 2026, and 2027 are 94.7 billion, 167.6 billion, and 249.1 billion yuan, representing year-on-year growth of 132%, 77%, and 49% respectively - Net profit estimates for the same years are 3.5 billion, 7.6 billion, and 12 billion yuan, with significant growth rates [3] - EPS for 2025, 2026, and 2027 are projected at 0.18, 3.97, and 6.27 yuan, with corresponding PE ratios of 368, 17, and 11 times, maintaining a "buy" rating for the company [3]
小鹏汽车-W(09868.HK)：辅助驾驶进入L3级算力时代 本地端VLA+VLM能力再进阶