计算机行业：政策、技术、成本共振，Robotaxi商业化快速推进

Investment Rating - The industry investment rating is "Buy" [3] Core Viewpoints - The policy environment is positive, with a focus on integrated vehicle-road-cloud systems in 2024, promoting the large-scale application of high-level autonomous vehicles [10][17] - The supply side shows a rapid decline in unit costs for Robotaxi, with potential for future profitability. The cost of Baidu's sixth-generation unmanned vehicle has dropped to approximately 250,000 yuan [10][28] - Consumer demand is strong, with over 60% of surveyed individuals expressing interest in experiencing Robotaxi services, indicating a favorable market outlook [10][37] Summary by Sections Policy and Technology - The government has placed the intelligent connected vehicle industry at a strategic level, with significant policy support aimed at promoting the application of L3 and L4 autonomous vehicles [10][17] - The integrated vehicle-road-cloud system is expected to enhance the safety and efficiency of autonomous driving, with pilot projects set to launch in major cities [10][19] Supply Side - The cost of high-level autonomous driving components, such as LiDAR, has significantly decreased, with prices dropping from 22,500 yuan in 2020 to 3,700 yuan in 2023 [24][28] - The unit cost of Robotaxi has been optimized to around 250,000 yuan, benefiting from the declining costs of core components [10][28] Demand Side - Consumer interest in Robotaxi services is high, with a significant portion of the population willing to try the service, provided safety is assured [10][37] - The pricing of Robotaxi services will be crucial for consumer adoption, with many potential users indicating they would only switch if prices are competitive with traditional ride-hailing services [10][39] Investment Recommendations - Focus on three main investment lines: 1. Robotaxi operators such as Baidu and 如祺出行, which are expected to see new growth opportunities [2] 2. Key component and service suppliers in the Robotaxi industry, including 德赛西威 and 中科创达 [2] 3. Companies involved in the integrated vehicle-road-cloud system, such as 金溢科技 and 万集科技 [2]