汽车：Robotaxi的商业化时刻

Investment Rating - The report maintains a positive outlook on the automotive industry, specifically regarding the commercialization of Robotaxi services [1]. Core Insights - The recent introduction of regulations for Robotaxi by the NHTSA marks a significant step forward for the commercialization of autonomous driving vehicles. Tesla's FSD V13.2 release supports dynamic navigation communication for fleets, providing a technological foundation for efficient Robotaxi operations [1]. - Tesla's Cybercab, a two-seater autonomous taxi, is designed with L4 or L5 autonomous driving capabilities, eliminating the need for a steering wheel and pedals. This innovation is expected to significantly reduce operational costs, with plans for a fully autonomous FSD rollout by 2025 [1]. - The operational cost of Tesla's Robotaxi is projected to be only one-fifth of traditional taxi services, which currently average around $1 per mile in the U.S. [1]. - The report anticipates that Tesla will launch fully autonomous Robotaxi services in select U.S. cities by 2025, with regulatory easing expected to accelerate the commercialization process [1]. Summary by Sections Industry Overview - The report highlights the key advancements in the Robotaxi sector, particularly focusing on Tesla's initiatives and the regulatory environment that supports autonomous vehicle deployment [1]. Technological Developments - The introduction of FSD V13.2 is a critical milestone, enabling enhanced operational capabilities for Robotaxi fleets [1]. Market Dynamics - The report discusses the competitive landscape, noting that while companies like Cruise have paused their operations due to high costs, Tesla's approach with Cybercab is set to disrupt the market by significantly lowering operational expenses [1].