智能驾驶系列研究（一）：从特斯拉视角，看智能驾驶研究框架

Investment Rating - The report maintains a "Recommended" investment rating for the smart driving industry, particularly focusing on Tesla's advancements and the competitive landscape in China [2]. Core Insights - The evolution of smart driving technology is primarily driven by algorithm advancements, transitioning from rule-based systems to end-to-end models, with Tesla leading this shift [3][4]. - Future trends in smart driving are expected to focus on data integration, cost reduction in hardware, and regulatory frameworks, with key developments anticipated in data competition, large models, and task-oriented approaches [3][4]. - The report identifies four critical dimensions for evaluating domestic smart driving capabilities: data accumulation ability, usability, safety, and comfort [3][4]. Summary by Sections Historical Review - The historical development of smart driving algorithms has seen Tesla move from rule-based to end-to-end systems, achieving significant upgrades in perception and control algorithms from 2017 to 2023 [3][4]. - Tesla's hardware has evolved from HW1.0 to HW4.0, with substantial improvements in self-developed FSD chips and algorithmic upgrades [3][4]. Future Outlook - The report predicts a convergence in smart driving algorithms, emphasizing the importance of data loops and hardware cost reduction as core components of future advancements [3][4]. - It outlines three key trends for the future of smart driving: data competition, large models, and task-oriented approaches [3][4]. Supply Analysis - The report highlights the importance of data accumulation as a competitive factor among automotive companies, suggesting that traditional algorithm-based evaluations will become less relevant [3][4]. - It emphasizes that the ability to track and utilize data will be crucial for assessing the competitive standing of various automakers [3][4]. Demand Analysis - The report anticipates a significant turning point for urban NOA (Navigation on Autopilot) by the first half of 2025, with expectations for improved usability and user experience [3][4]. - It discusses the differences between highway NOA and urban NOA, noting that urban NOA will require a different approach due to the complexity of city driving environments [3][4]. Investment Opportunities - The report recommends investing in leading smart driving companies, particularly those with strong engineering capabilities and innovative approaches to data utilization [154][155]. - It also suggests focusing on component suppliers that will benefit from the growth of smart driving technologies, particularly in the domains of domain controllers and line control systems [154][155].