汽车行业事件点评报告：高阶智驾下放至10万元以内，比亚迪加速推进智驾平权

Investment Rating - The report maintains an investment rating of "Recommended" for the automotive industry [2][9]. Core Viewpoints - The introduction of high-level intelligent driving features priced below 100,000 yuan is expected to accelerate the democratization of intelligent driving technology, with BYD leading this initiative [5][9]. - The Tian Shen Eye C system, utilizing the DiPilot100 platform, showcases advanced capabilities such as over 1,000 kilometers of zero takeover driving and a 99% success rate in automated parking, enhancing the overall driving experience [5][9]. - The report anticipates that the penetration rate of high-level intelligent driving features will significantly increase in 2025, with projected sales of L2.5 and above intelligent passenger vehicles reaching 5-5.5 million units, corresponding to a penetration rate of approximately 21.4%-23.5% [5][9]. Summary by Sections Recent Developments - On February 10, 2025, BYD held a strategic release event for its intelligent driving technology, launching 21 models equipped with the Tian Shen Eye C system [3][5]. Market Dynamics - The report highlights that the combination of technological advancements, cost reductions, and market dynamics will drive the rapid adoption of intelligent driving features, marking 2025 as a pivotal year for this technology [5][9]. - The competitive landscape is expected to shift as domestic automakers enhance their self-developed intelligent driving capabilities, with BYD setting a benchmark for others to follow [5][9]. Investment Opportunities - The report suggests focusing on domestic automakers with latecomer advantages and new energy vehicle companies leading in intelligent driving technology, such as BYD, Geely, Changan, Great Wall, Xpeng, and Li Auto [9]. - Key beneficiaries in the intelligent hardware system segment include companies involved in intelligent driving domain controllers, sensors, and smart chassis configurations [9].