AI的进击时刻系列6：智驾下沉加速，汽车智能化快速渗透

Investment Rating - The industry investment rating is "Buy" [2] Core Viewpoints - The report highlights that BYD is accelerating the penetration of intelligent driving technology, aiming to lower the barriers for smart driving and promote widespread adoption [7][10] - The trend of intelligent driving configurations is increasingly penetrating the mid-to-low-end vehicle market, with significant sales proportions in the 5-10 million, 10-15 million, and 15-20 million price segments [19][20] - The intelligent driving industry chain has vast growth potential, encompassing perception, transmission, and computing segments [23][24] Summary by Sections 1. BYD's Acceleration in Intelligent Driving - BYD plans to unveil its advanced intelligent driving system "Tianshen Eye" on February 10, 2025, and has committed to investing 100 billion yuan in AI and automotive integration [7][10] - The company is actively enhancing its intelligent driving capabilities across various models, including the Dolphin, which supports multiple advanced sensor configurations [13][19] 2. Penetration into Mid-to-Low-End Models - The report notes a clear trend of intelligent driving solutions being offered in the 10-15 million yuan price range, with models like Xiaopeng Mona and GAC Aion RT adopting advanced driving systems [19][20] - In December 2024, the sales proportions of new energy vehicles in the price segments of 5-10 million, 10-15 million, and 15-20 million were 19.9%, 35.7%, and 10.9% respectively, indicating a strong market for mid-to-low-end intelligent driving configurations [20] 3. Growth Potential of the Intelligent Driving Industry Chain - The intelligent driving hardware industry chain consists of three main components: perception (cameras and LiDAR), transmission (chips and connectors), and computing (domain controllers and intelligent driving chips) [23][24] - The report emphasizes the increasing demand for automotive cameras, with expectations for 8-11 cameras to become standard in high-level driving assistance systems, leading to a projected market growth of 1.6 to 5 billion USD in the automotive CIS market [30][32] 4. Investment Recommendations - The report suggests focusing on automotive CIS chip manufacturers, packaging firms like Jingfang Technology, LiDAR manufacturers such as Suteng Juchuang and Hesai, intelligent driving chip manufacturers, and high-frequency high-speed connector manufacturers like Dalian Technology [48]