汽车行业一周一刻钟，大事快评（W085）：比亚迪带动“智驾平权”

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [17]. Core Viewpoints - The trend of "Smart Driving Equality" has emerged, with BYD accelerating the mass production of the Orin platform, and the three-eye solution becoming the largest increment. This trend is validated by the performance of lidar suppliers like Suteng Juchuang and Hesai Technology [2][7]. - The penetration rate of smart driving in mid-to-low-end models is increasing, with pure vision solutions expected to drive up the usage of vehicle-mounted cameras. From January to September this year, the number of 8MP front-view cameras in passenger cars reached 2.752 million, with a penetration rate rising from 10.6% in 2023 to 23.8% [2][8]. - There is still room for improvement in the configuration of chips and lidar in mid-to-high-end models. The upcoming mass production of NVIDIA's Thor chip will mark a top-tier choice for high-level intelligent solutions, while the Orin X solution is expected to become a mainstream option [3][9]. - Investment recommendations include strong domestic manufacturers like BYD and Great Wall Motors, as well as component companies with strong growth or overseas expansion capabilities such as Fuyao Glass and New Spring Co [4]. Summary by Sections Smart Driving Equality - The "Smart Driving Equality" trend is confirmed, with BYD focusing resources on the Orin platform for mass production and delivery. The addition of the three-eye vision solution in numerous models further supports the trend of making advanced smart driving available in the price range below 150,000 yuan [2][7]. Mid-to-Low-End Models - Mid-to-low-end models are primarily adopting pure vision solutions to save costs, leading to a significant increase in the deployment of BYD's three-eye vision solutions. This is expected to further enhance the demand for vehicle-mounted cameras [2][8]. Mid-to-High-End Models - The configuration of chips and lidar in mid-to-high-end models is expected to improve, with the mass production of NVIDIA's Thor chip and the Orin X solution becoming mainstream. Lidar is viewed as a critical safety feature in models priced above 300,000 yuan [3][9]. Investment Recommendations - The report recommends focusing on domestic manufacturers and component companies that exhibit strong performance growth or overseas expansion potential, highlighting companies like BYD, Great Wall Motors, and Fuyao Glass [4].