北交所&新兴成长行业周报：L3时代激光雷达或将迎来机遇

Automotive Industry Developments - Chery's "F4" factory plans to start infrastructure bidding in July 2024, with construction expected to begin in 2025 [1] - Neta Auto accelerates its overseas expansion, opening its first flagship store in Nairobi, Kenya, targeting 300,000 vehicle sales in 2024, with 100,000 units for overseas markets [2] - XPeng's MONA M03, featuring a hatchback design and T-shaped taillights, is set to launch in Q3 2024 with a drag coefficient of Cd0.194, making it one of the most aerodynamic electric vehicles [14] - Geely's subsidiary, Aerofugia, successfully completed the first public flight of its AE200 electric vertical take-off and landing aircraft, with commercial operations expected by 2026 [15] - Great Wall Motors plans to establish new factories in Malaysia, Indonesia, and Vietnam for local assembly, with production expected to start as early as July 2024 in Malaysia [16] - SAIC Group and Volkswagen signed multiple new energy technology cooperation agreements, with new plug-in hybrid and pure electric models expected to launch from 2026 onwards [20] - GAC Toyota partners with Momenta to introduce end-to-end full-scenario autonomous driving, with the technology debuting on the bZ3X model [21] - BMW plans to produce electric vehicles at its US plant starting in 2026, with at least six EV models to be manufactured by 2030 [30] Policy and Market Trends - The National Development and Reform Commission encourages cities with vehicle purchase restrictions to relax limits and increase quotas, aiming to boost car consumption and support the transition to electric vehicles [19] - The domestic air suspension market penetration rate reached 3.3% in H1 2023, with expectations to reach 15% by 2025, driven by technological advancements and cost reductions [117] Autonomous Driving and LiDAR Technology - LiDAR penetration in new energy vehicles priced above 150,000 RMB reached 18.4% in April 2024, with L3 autonomous driving technology moving closer to large-scale application [62] - Current LiDAR systems face challenges in detecting small objects and maintaining performance in adverse weather conditions, which are critical for L3 autonomous driving [45] - LiDAR companies like Hesai and RoboSense are advancing their technologies, with Hesai's AT512 offering improved resolution and detection capabilities for small targets [87] - XPeng and other automakers are integrating LiDAR to enhance safety features like AEB, reducing false triggers and improving performance in complex scenarios [68] Battery Technology Advancements - CATL plans to achieve small-scale production of solid-state batteries by 2027, with energy density targets of 500Wh/kg [97] - Other battery manufacturers, including Qingtao Energy and WeLion, also aim to mass-produce solid-state batteries by 2027, with energy densities exceeding 500Wh/kg [90][98] - CATL's solid-state battery development focuses on a dual-material system combining condensed matter and sulfide electrolytes to address stability and performance challenges [99] Market Performance and Industry Trends - In the A-share market, the banking, utilities, and petrochemical sectors outperformed, while real estate and power equipment sectors underperformed in late June 2024 [74] - The Beijing Stock Exchange saw strong performance in the media and electronics sectors, with notable gains in companies like Zecheng Electronics and Hengjin Sensing [110]