自动驾驶赛道“回暖”24起融资吸金超350亿元

Core Insights - The autonomous driving industry is experiencing a significant resurgence in investment, with over 100 billion RMB raised in 11 financing events in the past month alone, and a total of 24 financing events exceeding 350 billion RMB since the beginning of 2025, indicating a strong recovery from previous years' downturns [1][2][6] Financing Trends - The 24 financing events in 2025 cover four main areas: L2-level assisted driving, L4-level niche markets, Robotaxi, and the autonomous driving supply chain, with 10 events raising over 10 billion RMB each, accounting for 50% of the total financing [2][3] - L2-level assisted driving saw 5 financing events, with the largest being Horizon Robotics raising approximately 58.12 billion RMB, while significant investments were also made in Robotaxi, with Didi Autonomous Driving completing a 20 billion RMB round [2][3] Market Dynamics - L4-level autonomous driving is advancing in specific applications like mining and logistics, with 9 companies raising over 30 billion RMB in total [3] - The supply chain for autonomous driving, particularly in chips and LiDAR, is also attracting substantial investments, with notable rounds from companies like Chipone Technology and Hesai Technology [3] Policy and Capital Influence - The financing landscape is characterized by a shift towards state-owned and industrial capital, which is replacing traditional financial investors, indicating a new dynamic in the industry [6][7] - The period from 2024 to 2025 has seen a significant increase in policy support, with over 71 new policies introduced in the first half of 2025 alone, laying a legal and institutional foundation for the commercialization of autonomous driving [7][8] Technological Advancements - The penetration rate of L2-level assisted driving in China has surpassed 50%, leading globally, with emerging technologies becoming standard in mid-to-high-end vehicles [8] - The cost of hardware has halved over the past two years, and the driving experience has improved tenfold, indicating rapid technological advancement [8] Profitability Challenges - Despite the influx of capital, many companies in the autonomous driving sector are still in the investment phase and have not yet achieved profitability, with significant losses reported by leading firms [9][10] - Companies like Horizon Robotics and Pony.ai are facing challenges in achieving stable profits, highlighting the ongoing need for financing to support R&D and market expansion [9][10] Future Outlook - The market for intelligent connected vehicles in China is projected to grow from 161.1 billion RMB in 2023 to 222.3 billion RMB by 2025, with expectations that China will become the largest market for autonomous driving by 2030 [11][12] - Industry leaders emphasize the importance of safety in the deployment of AI technologies in driving, suggesting a cautious yet optimistic approach to the future of autonomous driving [12]