新汽车生态合作，报名中国版CES！ " 把算法、软件和硬件打通是需要花很长时间的，它是一个慢活，但是打通以后进行算法迭代是快的 。 " 12 月 5 日 ， 在 WNAT-CES 2025 新汽车技术合作生态交流会 的 组合辅驾与具身智能论坛上，知行科技创始人兼 CEO 宋阳的这句 话 ，精准概括 了他 在自动驾驶领域 深耕九年的核心感悟。 在人工智能与汽车产业加速融合的当下 ， "快"成为行业常态——技术迭代快、资本入局快、产品推出快。 但宋阳却格外强调 "慢"的价值。在他看来，真正的"快"恰恰源于扎实的"慢功夫"。知行科技专注于自动驾驶控制器这一件事，耐心补齐技术栈、 反复打磨工程化能力，为未来的"快突破"奠定坚实基础。 在自动驾驶领域，从 CNN 到 BEV 、再到端到端的技术演进，每一步都需要在控制器层面进行深度的适配与优化。 宋阳 将 这个过程 形象地比喻成 " 在核桃仁上雕花 " ，需要极大的耐心与精细的工程能力。但一旦打通，算法迭代的速度就会大幅提升。 正是这份对 "慢功夫"的坚守，结出了扎实的果实。 宋阳坦言： " 成立九年以来，量产了几个 "一百"，首先是超过一百个国家都能看到知行科技的 控 ...

沪苏测试场景互通是长三角一体化发展在智慧交通领域的关键落地举措。与此同时，上海持续扩容自动 驾驶测试环境，浦东新区、闵行区及虹桥枢纽新增开放测试道路后，全市累计开放测试道路达3173条， 总里程超5238公里，覆盖约1/3市域面积，构建起全维度、广覆盖的测试场景布局。国内首个特大城市 全域交通信号灯数据开放平台同步发布，7600个路口实时数据将为高级别自动驾驶研发量产提供核心支 撑。 本报上海12月7日电(记者沈文敏)7日，"'人工智能+交通运输'上海发布2025"活动举办，长三角智能网联 汽车产业协同发展迎来重要突破——沪苏智能网联汽车测试应用场景正式实现互通，为区域产业协同与 自动驾驶商业化运营注入强劲动能。 ...

Core Viewpoint - The speech at the "HeXun Finance China 2025 Conference" argues that humanoid robots are a significant bubble and a deception, questioning their practicality and necessity in replacing human capabilities [1][4]. Group 1: Humanoid Robots - The speaker, Cai Hongping, describes humanoid robots as primarily for show, lacking true autonomous capabilities and being controlled remotely [3][7]. - He emphasizes that humanoid robots cannot match the evolutionary advancements of humans in physical, intellectual, emotional, and creative aspects [8]. - Cai believes that the current technology is not ready to replicate the complex interactions and emotional scenarios that humans navigate, suggesting a timeline of at least ten years for any significant advancements in this area [4][8]. Group 2: Practical Applications of Robotics - The speaker advocates for the development of specialized robots that can perform dangerous, repetitive, or labor-intensive tasks, such as firefighting and underwater cleaning, which have already demonstrated practical value [4][8]. - Cai is preparing to invest in a project focused on underwater cleaning for large ships and oil platforms, highlighting the potential for robots to effectively clean polluted areas [4][9]. Group 3: Critique of Investment in Humanoid Robotics - Cai criticizes the substantial capital investment in humanoid robotics, estimated between 500 billion to 600 billion, and challenges the viability of profitability in this sector over the next decade [9]. - He expresses a preference for quadrupedal robots over humanoid designs, citing their superior stability and load-bearing capabilities [9].

Investment Rating - The report maintains an "Outperform" rating for the company [6][54]. Core Insights - The company achieved revenue of $25.44 million in Q3 2025, representing a year-on-year growth of 72% and a quarter-on-quarter increase of 18.6% [1][7]. - The Robotaxi service revenue reached $6.7 million in Q3 2025, with a year-on-year growth of 89.5%, driven by a significant increase in passenger fare revenue [1][8]. - The company is expanding its Robotaxi fleet, with 961 operational vehicles, including 667 of the seventh-generation model, aiming to exceed 1,000 vehicles by year-end and 3,000 by the end of 2026 [3][23]. - The company has formed strategic partnerships to enhance its global presence, including collaborations in Qatar, Singapore, and with major ride-hailing platforms like Uber and Bolt [3][37]. Financial Performance - The gross margin for Q3 2025 was 18.4%, an increase of 9.1 percentage points year-on-year, attributed to an improved revenue mix with higher contributions from Robotaxi services [2][15]. - The company reported a net loss of $61.32 million in Q3 2025, compared to a loss of $41.89 million in Q3 2024 [1][7]. - The adjusted net loss for Q3 2025 was $54.72 million, reflecting ongoing investments in technology and fleet expansion [1][7]. Business Segments - Robotruck service revenue was $10.2 million in Q3 2025, showing an 8.7% year-on-year increase, supported by a 70% reduction in the BOM cost of the fourth-generation Robotruck [1][8]. - Revenue from licensing and applications surged to $8.6 million in Q3 2025, a significant increase of 354.6%, driven by rising demand for autonomous driving domain controllers [1][8]. Future Outlook - The company projects revenues of $80 million, $93 million, and $195 million for 2025, 2026, and 2027, respectively, with expected growth rates of 7.0%, 15.4%, and 110.3% [4][54]. - The company anticipates continued expansion in the Robotaxi and Robotruck sectors, leveraging its strategic partnerships and technological advancements to enhance operational efficiency and market reach [4][54].

汽车行业周报 多家车企推购置税补贴方案，鸿蒙智行单月交付创新高 中游制造/汽车 11 月 30 日至 12 月 6 日，汽车行业整体上涨 1.3%。本周，部分新势力发布 11 月交付量。鸿蒙智行全系 11 月交付新车 81,864 台，同比增长 89.61%，创下单 月交付历史新高；零跑实现销量 70,327 台，持续刷新单月交付新纪录；小鹏汽 车 11 月交付新车 36,728 台，同比增长 19%；蔚来汽车 11 月交付新车 36,275 台，同比增长 76.3%；理想汽车 11 月交付新车 33,181 辆，环比有所提升。 ❑ 市场板块行情回顾 本周 CS 汽车+1.3%。本周（11 月 30 日至 12 月 6 日，下同）上证 A 指涨跌 幅为+0.4%，深证 A 指涨跌幅为+0.6%，创业板涨跌幅为+1.9%。本周各行业 板块多数上涨，涨幅较大的行业板块为 CS 有色金属（+5.1%）、CS 通信 （+3.7%）和 CS 国防军工（+3.5%），下跌的行业板块为 CS 传媒（-3.6%）、 CS 房地产（-2.1%）和 CS 食品饮料（-1.9%）。 汽车产业链各板块行情：本周，汽车行业二级板块全面 ...

Investment Rating - The report maintains an "Outperform" rating for the company [6][54]. Core Insights - The company achieved revenue of $25.44 million in Q3 2025, representing a year-on-year growth of 72% and a quarter-on-quarter increase of 18.6% [1][7]. - The Robotaxi service revenue reached $6.7 million in Q3 2025, with a year-on-year growth of 89.5%, driven by a significant increase in passenger fare revenue [1][8]. - The company is expanding its Robotaxi fleet, with 961 operational vehicles, including 667 of the seventh-generation model, aiming to exceed 1,000 vehicles by year-end and 3,000 by the end of 2026 [3][23]. - The company has formed strategic partnerships to enhance its global presence, including collaborations in Qatar, Singapore, and with major ride-hailing platforms like Uber and Bolt [3][37]. Financial Performance - In Q3 2025, the company's gross margin improved to 18.4%, up 9.1 percentage points year-on-year, primarily due to an optimized revenue structure [2][15]. - The company reported a net loss of $61.32 million in Q3 2025, compared to a loss of $41.89 million in Q3 2024 [1][7]. - The adjusted net loss for Q3 2025 was $54.72 million, reflecting an increase in operational costs associated with the development of the seventh-generation Robotaxi [1][7]. Business Segments - The Robotruck service generated $10.2 million in revenue in Q3 2025, with an 8.7% year-on-year increase, supported by a 70% reduction in the BOM cost of the fourth-generation Robotruck [1][8]. - The licensing and application revenue surged to $8.6 million in Q3 2025, marking a significant growth of 354.6%, driven by increased demand for autonomous driving domain controllers [1][8]. Future Outlook - The company forecasts revenues of $80 million, $93 million, and $195 million for 2025, 2026, and 2027, respectively, with expected growth rates of 7.0%, 15.4%, and 110.3% [4][54]. - The company aims to maintain its competitive edge in the Robotaxi and Robotruck sectors, with plans for fleet expansion and operational scaling [4][54].

Investment Rating - The investment rating for the company is "Outperform the Market" [6][54]. Core Insights - The company achieved a revenue of $25.44 million in Q3 2025, representing a year-on-year growth of 72% and a quarter-on-quarter growth of 18.6% [7][8]. - The Robotaxi service revenue reached $6.7 million in Q3 2025, with a year-on-year increase of 89.5%, driven by a significant rise in passenger fare revenue [8][19]. - The company is expanding its Robotaxi fleet, with 961 operational vehicles, including 667 of the seventh-generation model, aiming to exceed 1,000 vehicles by year-end and 3,000 by the end of 2026 [3][23]. - The company has formed strategic partnerships to enhance its global presence, including collaborations in Qatar, Singapore, and with major ride-hailing platforms like Uber and Bolt [37][48]. Financial Performance - The gross margin for Q3 2025 was 18.4%, an increase of 9.1 percentage points year-on-year, attributed to an improved revenue mix [15]. - The company reported a net loss of $61.32 million in Q3 2025, compared to a loss of $41.89 million in Q3 2024 [7][15]. - The adjusted net loss for Q3 2025 was $54.72 million, reflecting ongoing investments in technology and fleet expansion [7][15]. Business Segments - The Robotruck service generated $10.2 million in revenue in Q3 2025, marking an 8.7% year-on-year growth, supported by a 70% reduction in the BOM cost of the fourth-generation Robotruck [8][40]. - The licensing and application revenue surged to $8.6 million in Q3 2025, a significant increase of 354.6% year-on-year, driven by rising demand for autonomous driving domain controllers [8][19]. Future Outlook - The company maintains its revenue forecasts, projecting revenues of $80 million, $93 million, and $195 million for 2025, 2026, and 2027, respectively, with expected growth rates of 7.0%, 15.4%, and 110.3% [54][56]. - The company is focused on scaling its Robotaxi and Robotruck operations, with expectations to continue outperforming the industry [54].

11 月中国乘用车批发销量达 299.2 万辆，前 11 个月汽车以旧 换新超 1120 万辆 [Table_Industry] 汽车周报 [Table_ReportDate] 2025 年 12 月 7 日 2 证券研究报告 行业研究 [Tabl 行业周报e_ReportType] | [Table_StockAndRank] 汽车 | | | --- | --- | | 投资评级 | 看好 | | 上次评级 | 看好 | 赵启政 汽车行业分析师 执业编号：S1500525030004 邮箱：zhaoqizheng@cindasc.com [Table_Title] 11 月中国乘用车批发销量达 299.2 万辆，前 11 个月汽车以旧换新超 1120 万辆 [Table_ReportDate] 2025 年 12 月 7 日 投资要点： | 图 1：本周汽车板块涨 1.38%，涨跌幅位居 A 股申万一级行业第 10 位 4 | | --- | | 图 2：A 股汽车板块本年度涨跌幅申万一级行业排名第 11 位 4 | | 图 3：乘用车板块表现 4 | | 图 4：商用车板块表现 5 | | 图 5：汽车 ...

IT之家 12 月 7 日消息，美国国家公路交通安全管理局（NHTSA）本周致函特斯拉公司，指出其"FSD（监督版）"（Full Self-Driving, Supervised）软件至少 存在 80 起违反交通规则的案例，包括闯红灯和驶入错误车道。 值得注意的是，ODI 在今年 10 月最初通报的案例中，包含多起发生在马里兰州乔帕（Joppa）某交叉路口的报告。当时特斯拉曾告知监管机构，已"采取措 施解决该路口的问题"。然而，NHTSA 此次未披露新报告事件的具体地理位置。此外，特斯拉向该机构提交的文件通常经过大量删减处理。 这封信函发出的同一周，特斯拉首席执行官埃隆・马斯克（Elon Musk）在社交平台 X 上发文称，FSD 最新版本将允许用户在使用驾驶辅助功能时发短信并 驾驶车辆，而此类行为在全美几乎所有州均属违法行为。截至目前，NHTSA 尚未就马斯克的言论置评。 此信函旨在启动 NHTSA 的证据开示程序，并详细列出了该机构向特斯拉提出的一系列信息请求。例如，NHTSA 要求特斯拉提供搭载 FSD 功能的车辆总 数，以及该软件被启用的频率。ODI 还要求特斯拉交出其收到的所有与 FSD 上述特定问 ...

Core Viewpoint - The article discusses a novel multi-scale bilateral grid framework for 3D scene reconstruction in autonomous driving, addressing challenges such as lighting variations and dynamic objects, leading to improved geometric accuracy and visual quality [5][10][39]. Group 1: Methodology - The proposed framework combines the strengths of appearance codes and bilateral grids to achieve efficient and accurate scene reconstruction [11][13]. - The architecture employs Gaussian splatting to model complex driving scenes, decomposing them into a mixed scene graph that includes independent modeling of static and dynamic elements [14]. - The framework consists of three levels: coarse, intermediate, and fine, each addressing different aspects of lighting and detail adjustments [15]. Group 2: Experimental Results - Extensive experiments on datasets like Waymo, NuScenes, Argoverse, and PandaSet demonstrate that the proposed method significantly outperforms existing models in geometric accuracy and appearance consistency [19][39]. - In the Waymo dataset, the chamfer distance (CD) improved from 1.378 (OmniRe) to 0.989, a 28.2% enhancement [21]. - The method achieved a PSNR of 27.69 and an SSIM of 0.847 on the NuScenes dataset, surpassing OmniRe's scores of 26.37 and 0.837 respectively [23]. Group 3: Robustness and Versatility - The framework shows enhanced performance in extreme scenarios such as night scenes and varying lighting conditions, proving its robustness [27][39]. - The method can be integrated as a plug-and-play enhancement module into existing models like ChatSim and StreetGS, resulting in significant improvements in reconstruction quality [25][26]. Group 4: Future Directions - The research team plans to further optimize the framework for larger and more complex scenes and explore more efficient computational methods for practical applications in autonomous driving [40].