Group 1 - Mercedes-Benz and Momenta announced the launch of an autonomous taxi service based on the new generation S-Class, with initial testing set to take place in Abu Dhabi [1] - The first batch of S-Class vehicles will be used for road testing in Abu Dhabi, with local partner Lumo responsible for operating the autonomous taxi fleet [1] - Lumo, a mobility operator under tech company K2, has received permission to operate autonomous vehicles in the UAE and will be the first to launch services in Abu Dhabi [1] Group 2 - In 2024, Mercedes-Benz became the first international automotive brand authorized to conduct Level 4 (L4) urban and highway testing in Beijing [1] - The L4 testing aims to explore cutting-edge technologies in the development of autonomous driving systems, focusing on multi-sensor perception and performance in extreme conditions [1] - The testing will utilize S-Class vehicles equipped with a specially designed sensor suite, including lidar, radar sensors, and cameras [1]

未来市场将由Waymo和特斯拉主导，合计占据2032年美国自动驾驶里程约70%。两者竞争焦点在于安全与成本的终极博弈：Waymo凭借NHTSA数 据估算的36万英里平均无事故里程，建立7倍安全壁垒；特斯拉Robotaxi当前仅5万英里，但每英里成本仅0.81美元，较Waymo第5代车型的1.36- 1.43美元低40%-43%。Waymo第6代车型预计2027年规模化后成本降至0.99-1.08美元，接近私人拥车成本0.70美元/英里。谁先补齐短板，谁将锁定 胜局。特斯拉CEO埃隆·马斯克近期表示："FSD安全里程将很快追平Waymo，我们的成本优势无人能及。"传统网约车平台优步和Lyft面临"蚕 食"危机。目前Uber占网约车市场70%，Lyft为30%，但到2032年，在Waymo自营APP与特斯拉不合作假设下，二者仅捕获自动驾驶行程的22%和 7%。 格隆汇12月10日｜摩根士丹利最新研报勾勒出2026年自动驾驶33城落地的爆发图景，预计美国将有33个城市推出商业化服务，并将2026年定位为 自动驾驶行业的"奇点"时刻。这标志着从概念炒作向商业落地的残酷转变，投资者需警惕估值逻辑的重塑。报告强调，这一拐 ...

Domestic News - Jiangsu has established its first batch of intelligent orderly charging pilot communities, enhancing the synergy between new energy vehicles and the new power system through IoT, big data, and AI technologies [3] - Sichuan's 14th Five-Year Plan emphasizes the development of emerging industries, including smart connected vehicles, and aims to strengthen strategic emerging industry clusters [4] - Hainan's 14th Five-Year Plan supports the orderly international expansion of new energy vehicle companies and aims to optimize cross-border financial and data flow policies [5] - Yu Chengdong revealed multiple new car models from Hongmeng Zhixing, including a high-end coupe and the flagship MPV Zhi Jie V9, expected to launch next year [6] - Li Auto plans to launch its first L4 autonomous driving model within three years, transforming cars into AI-driven "space robots" [8] - Geely has developed China's first crash test dummy tailored for occupant protection in various postures, in collaboration with Hunan University [9] - GAC has introduced its AION and HYPTEC new energy vehicle series to the Saudi market [10] - Anhui Jianghuai Automobile has established a new company focused on power drive systems [11] International News - Renault Group and Ford have signed a strategic partnership to develop two new electric vehicle models based on the Ampere platform [12] - Stellantis and Bolt are collaborating to explore the deployment of L4 autonomous vehicles for commercial operations in Europe, with a target for mass production by 2029 [14] - Mercedes-Benz is partnering with Momenta to deploy autonomous vehicles in Abu Dhabi's taxi market [15] - Uber plans to invest $2 billion in Japan over the next five years [16] Commercial Vehicles - A new national standard for hazardous goods transport vehicles will be implemented on July 1, 2026, enhancing safety and requiring advanced electronic stability and emergency braking systems [18] - The world's largest hydrogen fuel cell commercial vehicle demonstration project has been launched in Xinjiang, with the delivery of 500 hydrogen fuel cell trucks [19] - Zhejiang province is supporting the planning and construction of charging infrastructure for new energy heavy trucks [20] - SANY has officially launched its bank in Brazil and unveiled a new series of heavy trucks [21]

Core Viewpoint - The company has made significant advancements in L4 autonomous driving technology, focusing on multi-scenario operational services and integrated vehicle-road-cloud solutions [1] Group 1: Technology Development - The company has accumulated years of technology in the L4 autonomous driving field, demonstrating capabilities in sensor fusion, decision planning, and redundant control [1] - The L4 system architecture has the potential to extend into the Robotaxi sector, particularly in areas such as computing platform, functional safety, and OTA upgrades [1] Group 2: Product Offerings - The company has launched several autonomous driving vehicles, including heavy-duty autonomous flatbed trucks, autonomous electric tractors (Robotruck), and autonomous electric minibuses (RoboBUS), as well as industrial autonomous vehicles (AGV) [1] Group 3: Operational Achievements - The company has achieved regular L4-level autonomous driving operations in closed campuses, demonstrating full autonomy [1] - Currently, there are no commercial partnerships in the RoboTaxi sector [1]

Core Insights - The 2026 market is at a critical juncture of cyclical iteration and structural transformation, with a focus on technology, cyclical industries, consumption, and new energy sectors [1][6] - The investment strategy meeting highlighted how the industrialized research system of the fund can adapt to complex market changes while maintaining a long-term perspective [1][6] Technology Sector - The North American market has seen a commercial closure on AI inference, shifting the investment focus from training to inference demand, which supports long-term industry prosperity [1][6] - The fund manager believes that breakthroughs in AI applications will emerge, particularly in AI infrastructure and smart hardware, with significant investment opportunities in humanoid robots and autonomous driving [1][6] AI Application Directions - Three key areas for AI applications include: 1. Consumer entertainment, with new scenarios like AI advertising and AI education emerging [2][7] 2. Optimization of enterprise operations through AI, enhancing efficiency and reducing costs [2][7] 3. New paradigms in humanoid robots and intelligent driving [2][7] Autonomous Driving Focus - In the autonomous driving sector, three focal points are identified: 1. Flexibility in vehicle manufacturers, which may lead to benchmark companies [2][7] 2. Demand for new software and hardware in the components sector, emphasizing domestic supply chain advantages [2][7] 3. The potential for Robotaxi proliferation to create new business models and revenue-sharing opportunities [2][7] Supply Chain and Demand - The fund manager anticipates a significant increase in demand for computing power in both training and inference segments in 2026, with current supply bottlenecks due to reliance on overseas foundries for domestic chip production [2][7] - A mismatch between supply and demand is expected in 2026, necessitating rapid technological advancements and capacity building in domestic foundries [2][7] Market Dynamics - The fund manager warns that AI applications and new software may become a "gray rhino," indicating potential risks as resources concentrate on core AI areas, leading to supply chain pressures and increased upstream costs [2][7] - Innovations in end-user applications are likely to experience a "first dip then rise" pattern, with acceleration in enabling technologies like robots and autonomous driving expected after foundational models mature [2][7]

Core Insights - The focus for technology investment in 2026 is on breakthroughs in AI applications, with a clear trend in AI infrastructure and smart hardware, emphasizing the need to track progress and dynamically adjust judgments [1][2] - Key investment opportunities are expected in high-tech fields such as humanoid robots and autonomous driving, which may lead to significant breakthroughs [1][2] AI Application Focus - Three main directions for AI applications include: 1. Consumer entertainment sector, with emerging scenarios in AI advertising and AI education following gaming and e-commerce [1][2] 2. Optimization of enterprise operations, where AI enhances internal processes to reduce costs and improve efficiency [1][2] 3. New paradigms and scenarios in humanoid robots and smart driving [1][2] Autonomous Driving Insights - Three key areas of focus in autonomous driving include: 1. Flexibility of complete vehicle manufacturers, which may lead to the emergence of benchmark companies [1][2] 2. The components sector, which should focus on the new hardware and software demands of intelligent vehicles, identifying domestic supply chain advantages [1][2] 3. The proliferation of Robotaxi services, which could create new business models and revenue-sharing opportunities [1][2]

【环球网科技综合报道】12月10日消息，据electrek报道，在xAI黑客马拉松活动现场，特斯拉首席执行 官埃隆・马斯克（Elon Musk）宣称，特斯拉将在三周内从位于美国奥斯汀（Austin）的Robotaxi（自动 驾驶出租车）中撤除安全监督员（Safety Monitors）。 特斯拉长期以来致力于自动驾驶系统的研发，其打造的一套旨在实现车辆自动驾驶的系统，已处于"测 试版"阶段长达十多年之久。尽管从实际情况来看，该系统目前尚无法达成真正意义上的自动驾驶，但 特斯拉仍将其命名为"完全自动驾驶"，这一命名方式在行业内也引发过诸多讨论与争议。而安全监督员 在自动驾驶测试过程中扮演着重要角色，他们能够在车辆遇到突发状况或系统处理不了的情况时及时介 入，保障行车安全。 外媒称，过去十年间，马斯克一直承诺在未来一年内推出无人驾驶汽车，但每次承诺的期限都已过去， 目标却始终未能实现。（青山） ...

将投中网设为"星标⭐"，第一时间收获最新推送 蔚来资本，又成功收获了一个回报丰厚的IPO。 作者丨 簪竹 来源丨 投中网 一个明星IPO来了。 12月10日，国产激光雷达企业图达通以De-SPAC（特殊目的收购公司）模式正式登陆港交所，上市募集总计约 10.3亿港元。截至发稿，这家公司的市值超过200亿港元。 这也意味着，伴随着上市的掌声，连投图达通5轮且为对方外部第一大股东的蔚来资本，又成功收获了一个回报 丰厚的IPO。 蔚来资本管理合伙人朱岩表示，作为图达通的早期产业投资方与长期战略伙伴，蔚来资本始终对其技术创新实力 与发展潜力抱有坚定信心。自2018年首次投资起，蔚来资本、蔚来汽车与图达通便以资本为联结、以产业为根 基，在车规级激光雷达的研发与量产攻坚阶段展开深度协同、共研共创，率先实现了图像级高清激光雷达的全球 首次规模化量产。 这段从图达通A轮融资就开始的投资故事，始于一个问题：如何在很远的距离就发现目标？ 蔚来资本管理合伙人朱岩、合伙人吕元兴、董事总经理凌雯与图达通创始人鲍君威在上市仪式现场合影 非常难的事，非常牛的人 回到八年前蔚来资本刚接触图达通的时候，激光雷达赛道最火的是Velodyne、Q ...

Core Viewpoint - The successful listing of Tuyatong on the Hong Kong Stock Exchange represents a victory for Hexuan Capital's investment methodology, which emphasizes a global perspective on technology trends while reshaping industrial value through Chinese logic [4][13]. Group 1: Company Overview - Tuyatong, officially listed on December 10 with stock code "2665", has attracted investments from several prominent institutions, including Hexuan Capital, which led its Series C financing with an investment of $30 million [4][5]. - The company has achieved significant milestones, including mass production of its laser radar products and securing contracts with major automotive manufacturers, including NIO [10]. Group 2: Investment Rationale - Hexuan Capital's confidence in Tuyatong stemmed from three irreversible industry truths: the deep belief in the leadership team, the understanding of the U.S.-China hard tech industry dynamics, and the certainty of scale effects in production [8]. - The average price of laser radar was approximately $1,000 in 2022, but it is projected to drop to around $500 by 2023, with potential costs falling below $100 as L3 automation matures [9]. Group 3: Market Trends and Future Growth - The automotive industry is moving towards L3 automation, with laser radar becoming a standard feature in high-end models, indicating a growing demand for cost-effective and high-performance solutions [7]. - Future growth for Tuyatong is expected to come from three main areas: overseas markets, smart transportation, and robotics, with significant opportunities in each sector [11]. - The company is addressing challenges in the robotics sector by developing tailored solutions for various environments, ensuring adaptability and efficiency in its products [12].

2025年12月10日，全球图像级激光雷达解决方案提供商图达通正式登陆香港交易所主板。作为港交所第 三家以De-SPAC模式成功上市的企业，图达通与已上市的禾赛科技、速腾聚创齐聚资本市场，标志着国 产激光雷达"三强"格局在资本层面正式成型。 上市首日，图达通开盘股价上涨超10%，市值升至150亿港元以上。这一积极的市场反应，为其作为上 市公司的全新发展阶段揭开了序幕。 市场对其的看好并不奇怪，作为目前激光雷达领域的头部玩家之一，图达通不仅成长性凸显，而且已经 具备出众的自我造血能力，这也是其能够在激烈的竞争中率先突围的关键。 放眼更长远的未来，图达通上市之后值得期待吗？ 01 双线破局：构筑量产时代的核心壁垒 上市其实是一次严选，是对企业战略路径、商业模式、财务健康性、市场竞争优势、所处赛道前景的一 次全方位检阅。 公开资料显示，图达通是全球首家实现车规级高性能激光雷达解决方案量产的供应商。业绩表现上， 2022年至2024年，其ADAS激光雷达解决方案累计销售收入全球排名第二；2024年全年交付约23万台车 规级激光雷达，凭借硬核产品实力与规模化交付能力，与华为、禾赛科技、速腾聚创共同跻身ADAS激 光雷达 ...