汽车：智能化正逐步成为效率密码

Industry Investment Rating - The report does not explicitly mention an overall industry investment rating [1][2][3] Core Views - Intelligent driving (智驾) has become a strong brand label for XPeng, significantly boosting sales [1] - Over 2/3 of Mona03 users show high interest in intelligent driving and are willing to pay 5000-10000 RMB for advanced features [4] - Tesla, Huawei, and Xiaomi follow closely in terms of perceived intelligent driving capabilities [4] - BYD's intelligent driving capabilities are perceived stronger than Geely and Changan among Mona03 users [4] User Perception and Monetization Potential - XPeng's brand image is strongly associated with intelligent driving, which has become a key sales driver [1] - Users perceive XPeng as the strongest in intelligent driving, followed by Tesla, Huawei, and Xiaomi [4] - 67.3% of users are very or highly concerned about intelligent driving, with 36.6% willing to pay 5000-10000 RMB for advanced features [2] - Mona03 users believe XPeng has the strongest intelligent driving capabilities, despite the model's limited capabilities [4] Comparison of Different Manufacturers' Solutions - Tesla, XPeng, Huawei, and Xiaomi lead in intelligent driving solutions, with XPeng focusing on pure vision-based systems [12][13] - Tesla's 3.0 intelligent driving system uses BEVformer and occupancy networks, eliminating the need for high-precision maps and LiDAR [14][24] - XPeng's XNGP system has achieved 100% map-free navigation and plans to offer global XNGP services by 2025 [20] - Huawei's ADS 3.0 introduces GOD (General Obstacle Detection) and PDP (Prediction Decision Planning) networks for more human-like driving [34] - Li Auto is developing a dual-system approach combining fast (CNN-based) and slow (VLM-based) systems for intelligent driving [36] Market Trends and Adoption - Map-free NOA (Navigation on Autopilot) has become a standard feature, with many manufacturers rolling out updates in 2024H2 [15][20] - Pure vision-based solutions are gaining traction, with XPeng's P7+ leading in China, while higher-end models still prefer LiDAR [22][26] - End-to-end intelligent driving systems are being developed by major players like XPeng, Huawei, and Li Auto, with plans for deployment by 2025 [27][30] - XPeng's P7+ has successfully monetized its intelligent driving capabilities, with 46.5% of users citing it as a key purchase factor [71] User Satisfaction and Recommendations - Tesla's Model 3 leads in user satisfaction for intelligent driving, followed by XPeng's P7i and Huawei's Zhijie S7 [87] - XPeng's P7i users highly recommend the vehicle due to its intelligent driving capabilities, with 65.3% citing it as a key reason [82] - Tesla's FSD capabilities, though not yet available in China, have influenced user perceptions and satisfaction [86] - High-end intelligent driving features like highway navigation assistance and automatic parking significantly boost user satisfaction [88]