特斯拉FSD转向订阅制，中国市场审批进展引关注

Group 1 - Tesla will stop selling the one-time purchase version of FSD (Full Self-Driving) starting February 15, 2026, transitioning to a subscription model priced at $99 per month, down from the previous one-time fee of $8,000 [1] - The subscription model aims to lower user experience barriers, enhance recurring revenue, and accelerate FSD algorithm iterations [1] - FSD has made progress in regulatory approval in China, with potential approval expected in February, and Tesla has established a local AI training center for FSD optimization [1] Group 2 - Tesla's Q4 2025 financial report shows total revenue of $94.827 billion, a 3% year-over-year decline, and net profit down 46% [2] - Global delivery volume reached 1.636 million units, an 8.6% year-over-year decrease, marking the first time Tesla has been surpassed by BYD [2] - The FSD subscription business is growing, with over 1.1 million active users as of December 2025, a 40% increase year-over-year [2] Group 3 - Tesla's stock price showed minor fluctuations, closing at $417.44 on February 13, 2026, a 1.54% increase from February 9, but down 7.18% year-to-date [3] - Trading volume was approximately $22.7 billion on February 9, with an overall decline in trading volume for the week [3] - The stock's resilience reflects market interest in Tesla's AI transformation amid a weak performance in the broader market, with the Nasdaq index down 2.10% over the same period [3]