2025.06. 15 本文字数：1128，阅读时长大约2分钟 作者 | 第一财经 肖逸思 根据ICV数据，2022年UWB数字钥匙的渗透率仅为2.1%，市场规模也只有0.96亿美元。但随着技术 的提升、相关法规的完善以及成本的下降，汽车主机厂们将会更积极地导入UWB数字钥匙解决方 案，预计到2027年UWB数字钥匙的渗透率将超过50%，市场规模有望达到22.56亿美元。 正是看到了这样的趋势，陈嘉澍表示，2023年加特兰就正式决定进入到车用UWB芯片的开发，在行 业内招募了50位无线通信领域的资深专家，和公司已有的数模车规芯片的开发团队构建了超过百人 的专职UWB开发团队。迄今，加特兰在UWB领域已申请60余项专利，包含2项标准必要专利。 近日，车规级无线感知和通信芯片企业加特兰发布符合IEEE 802.15.4ab新标准的车规级UWB SoC芯 片，该芯片命名为"Dubhe"（天枢）。 加特兰创始人兼CEO陈嘉澍公开表示，汽车"新四化"的变革和汽车电子、电气方面的创新密不可 分、相辅相成，汽车的半导体含金量也会越来越高。单车的半导体价值会从过去一辆燃油车时代的单 车不到500美元，迅速增长到未来一辆智能电 ...

Core Insights - The automotive industry is undergoing a transformation driven by the "new four modernizations," with increasing semiconductor content in vehicles, projected to rise from under $500 for traditional fuel vehicles to over $1,500 for smart electric vehicles [1] - The introduction of the "Dubhe" UWB SoC chip by Gateron aligns with the growing demand for high-precision, bidirectional positioning in smart vehicles, marking a significant opportunity in the automotive semiconductor market [1] Industry Trends - UWB technology, initially introduced in 1989, gained mainstream attention in 2019 with Apple's UWB chip, and has since penetrated the automotive sector, starting with BMW's digital key feature in 2021 [1] - The adoption of UWB technology is expanding among mid to high-end vehicles, with brands like BYD, Mercedes-Benz, and others incorporating UWB as standard or optional features [2] - The penetration rate of UWB digital keys was only 2.1% in 2022, with a market size of $0.96 million, but is expected to exceed 50% penetration and reach a market size of $22.56 million by 2027 due to technological advancements and cost reductions [2] Company Developments - Gateron has established a dedicated UWB development team of over 100 experts, including 50 specialists in wireless communication, to capitalize on the growing UWB market [2] - The company has filed over 60 patents in the UWB field, including two essential patents, indicating a strong commitment to innovation and market leadership [2] - The domestic UWB chip market is still in its early stages, with companies like NXP and Qorvo previously dominating, but local firms are now entering the space, aiming for domestic substitution opportunities [3] - Gateron's UWB chip, "Dubhe," is expected to begin mass production by the end of this year, following sample delivery in July [3]

Group 1 - Traditional car dealers are shifting towards new energy self-owned brands, with companies like Zhongsheng and Yongda adjusting their existing dealership networks to include new brands like Hongmeng Zhixing [3][4] - Hongmeng Zhixing is reportedly establishing independent sales channels and has already held dealer recruitment meetings, aiming to expand its presence within the existing dealer system [3] - BYD's Tengshi sales manager Zhao Changjiang addressed concerns regarding the "roundabout turn" feature, stating that it minimizes tire wear significantly, with only 0.05mm of wear per use, which is just 2.5% of the tire's lifespan over three years [3][4] Group 2 - Changan Automobile aims to achieve total sales of 5 million vehicles by 2030, with 4 million from its self-owned brands and 3 million from new energy vehicles [3][4] - The company has appointed new product CEOs to enhance brand and product management, which is expected to positively impact its sub-brands like Deep Blue and Avita [4] - Dongfeng's new product strategy includes the launch of the M817 model to strengthen its presence in the luxury electric off-road segment, while the Nano brand has introduced the Nano 06 at a starting price of 79,900 yuan [6] Group 3 - Lantu's new model, Lantu FREE+, will feature Huawei's HarmonySpace 5 and ADS 4 systems, with a goal to rank among the top three in the mid-large size new energy SUV market [7] - Xiaopeng Motors has partnered with Huawei to launch an AR-HUD system in the Xiaopeng G7, addressing common issues in existing HUD systems [8] - The collaboration focuses on enhancing display clarity and performance, with Huawei providing over 10 billion yuan in R&D investment for the AR-HUD hardware platform [8]

编者按：在从电动化向智能化跃迁的浪潮中，中国新能源汽车产业正以独特的竞争优势重构全球竞争格 局。中国电动汽车百人会是产业的观察者、推动者，也是跨界融合的"搭桥人"。新华财经与百人会共同 打造"百人会百人谈"栏目，邀请行业权威专家、企业高管、投资人士畅谈中国电动汽车发展的新技术、 新趋势、新动能，为产业发展献计献策。 新华财经北京6月13日电（记者王鹤王钊）博世集团是全球汽车供应链的重量级存在。在中国，博世 2024年销售额达到1427亿元，同比增长2.7%。博世将中国视为全球创新引擎，正从"根植本土、服务本 土"迈向"立足中国，服务全球"。 在中国电动汽车百人会论坛（2025）期间，新华财经与博世中国总裁徐大全进行了深度对话，当AI给 汽车智能化装上加速器，博世看到什么机会？激烈的行业竞争下，供应商如何平衡价格和利润？当跨国 车企纷纷开启在华发展的2.0阶段，博世如何应变？ 新华财经：AI给汽车行业按上了"加速器"，主流车企近期密集发布了智能辅助驾驶战略，博世看到了 什么机会？什么挑战？有什么样的担忧？ 徐大全：2025年是辅助驾驶普及的元年。前几年，各家主机厂和创新公司都在开发辅助驾驶技术，从高 速辅助驾驶 ...

【惠科】 6月13日，惠科宣布推出 全球首款a-Si车载 Tri-gate（ TRD ） +TDDI屏幕 。 惠科表示，这款12.3英寸车载屏是国内首创将a-Si材料的Tri-gate技术与incell触控屏整合在一起 的产品。相较于LTPS屏幕技术，它拥有高信赖性、低成本等优势，显著提升了车载屏幕的驱动效 率和稳定性。产品具体特点如下： TDDI一体化设计 此次研发的12.3英寸车载显示屏基于a-Si材料实现Tri-gate（TRD）驱动，使其在相同分辨率 下，减少驱动芯片和外围元器件的使用，降低成本。同时，零件的减少也带来了空间的节省，使 其可以在更小的空间集成更多晶体管，以此支持驱动2K/4K甚至更高分辨率的屏幕。 此外，该产品还支持多点触控、戴手套操作、湿手操作，满足各种人机交互场景需求。 窄边框 这款车载显示屏利用Tri-gate架构搭配GDL电路可实现极窄边框设计，能有效提升屏幕的屏占 比，进一步提升视觉体验。 该产品还通过快速响应和分区精准控光，提升画面的明暗对比度（1800:1），使亮部更明亮、 暗部更深邃，尤其在Mini-LED背光系统中，画面细节呈现更清晰，减少残影和模糊感。此外， 屏幕表 ...

这款车载显示屏利用Tri-gate架构搭配GDL电路可实现极窄边框设计，能有效提升屏幕的屏占 比，进一步提升视觉体验。 该产品还通过快速响应和分区精准控光，提升画面的明暗对比度（1800:1），使亮部更明亮、 暗部更深邃，尤其在Mini-LED背光系统中，画面细节呈现更清晰，减少残影和模糊感。此外， 屏幕表面反射率的降低，可以进一步提升画面清晰度。 【惠科】 6月13日，惠科宣布推出 全球首款a-Si车载 Tri-gate（ TRD ） +TDDI屏幕 。 惠科表示，这款12.3英寸车载屏是国内首创将a-Si材料的Tri-gate技术与incell触控屏整合在一起 的产品。相较于LTPS屏幕技术，它拥有高信赖性、低成本等优势，显著提升了车载屏幕的驱动效 率和稳定性。产品具体特点如下： TDDI一体化设计 此次研发的12.3英寸车载显示屏基于a-Si材料实现Tri-gate（TRD）驱动，使其在相同分辨率 下，减少驱动芯片和外围元器件的使用，降低成本。同时，零件的减少也带来了空间的节省，使 其可以在更小的空间集成更多晶体管，以此支持驱动2K/4K甚至更高分辨率的屏幕。 此外，该产品还支持多点触控、戴手套操作、湿 ...

Core Viewpoint - Tianshan Electronics is accelerating its expansion while achieving positive performance, planning to invest approximately 188 million yuan of raised funds into two projects to enhance production capacity and overall competitiveness [1][2][3]. Investment Projects - The company plans to invest 116 million yuan in the Tianshan Electronics Tanwei Park vehicle LCD display module production line project, utilizing 115.8 million yuan of raised funds, with a construction period of one year [2]. - This project aims to increase annual production capacity by 25.346 million pieces, focusing on VA, medium and large size, and high value-added products to meet the demand for intelligent and large-screen products in the automotive sector [2][3]. - Additionally, the Tianshan Electronics Tanwei Park comprehensive capability enhancement project will require a total investment of 111 million yuan, with 72.6498 million yuan from raised funds and 38.2211 million yuan from self-owned funds, scheduled for two years [3]. Financial Performance - In the first quarter, the company achieved revenue of 395 million yuan, a year-on-year increase of 31.52%, and a net profit of 35.944 million yuan, up 42.24% [5]. - The non-recurring net profit reached 34.1844 million yuan, reflecting a significant growth of 83.19% [5]. - The strong performance in customized LCD display screens and modules, particularly in the automotive electronics sector, has been a key driver of revenue growth [5]. R&D and Competitive Advantage - The company has been increasing its R&D investment, with a total of 238 million yuan planned from 2020 to 2024, indicating a commitment to innovation and maintaining a competitive edge [1][5]. - As of the end of 2024, Tianshan Electronics holds 67 patents, including 11 invention patents, and has developed eight core technologies widely applied in production [6]. - The company's products exhibit superior technical performance compared to industry averages, particularly in high contrast, reliability, precision, and wide viewing angles [6].

Core Insights - The Chinese automotive industry is experiencing a steady and positive trend, with production and sales both exceeding 10% growth year-on-year in the first five months of the year [1][4] - New energy vehicles (NEVs) are driving significant growth, with production and sales reaching 5.7 million units, marking a year-on-year increase of 45.2% and 44% respectively, accounting for 44% of total new car sales [1][2] Group 1: Industry Performance - In the first five months, total automotive production reached 12.826 million units, while sales totaled 12.748 million units, reflecting year-on-year growth of 12.7% and 10.9% respectively [1] - The sales of Chinese brand passenger cars reached 7.562 million units, a year-on-year increase of 26.3%, capturing 68.8% of the total passenger car sales, which is a 7.5 percentage point increase from the previous year [2] - The export of NEVs saw significant growth, with 212,000 units exported in May alone, representing a month-on-month increase of 6.1% and a year-on-year increase of 120% [3] Group 2: Market Dynamics - The "Two New" policies and various promotional activities have enhanced market consumption vitality, leading to a rapid increase in NEV production and sales [1] - The competitive landscape is marked by a "price war," which has negatively impacted industry profitability, prompting the China Automobile Association to advocate for fair competition and innovation [4] - The export growth is attributed to improved product competitiveness and the expansion of the automotive supply chain overseas, particularly in the Middle East [3]

Summary of Robotaxi Industry and Key Players Industry Overview - Robotaxi represents the ultimate model for commercializing Level 4 (L4) and above autonomous driving, facing safety and pricing concerns but expected to lower costs through technological maturity and economies of scale [1][2][3] - The Robotaxi operation is projected to generate an additional $260 billion in the domestic market by 2030, with a penetration rate of at least 10% [1][3] Key Players and Developments - **Waymo**: - Increased sensor configurations and partnered with Zeekr, capturing a significant market share in the San Francisco ride-hailing market with a 20% order market share, fleet size of 1,500 vehicles, and over 10 million paid rides [1][3] - **Xiaoma Zhixing (Pony.ai)**: - Collaborated with GAC Aion to reduce new model costs by 70%, with an operational area exceeding 2,000 square kilometers and a 200% year-on-year revenue increase in Q1 [1][3][6] - Plans to have 1,000 vehicles operational by the end of the year and has initiated RoboTaxi road tests in Seoul, South Korea [4][6] - **Tesla**: - Announced the official launch of Robotaxi on June 22, 2025, focusing on the feasibility of pure vision technology and significant cost reduction potential [2][8] Market Dynamics - Robotaxi is expected to create new demand in the transportation market, similar to how ride-hailing services expanded the market through differentiated services [2][3] - The current market concerns about Robotaxi affecting traditional taxi and ride-hailing services are countered by the expectation that it will expand the overall market [2][3] Regulatory Environment - Both China and the U.S. are leading in autonomous driving regulations, with multiple cities allowing paid autonomous driving operations [5][7] - Recent regulations in China, such as the promotion of intelligent connected vehicles and the release of technical guidelines, support the deployment of L3 and above autonomous driving [7] Future Trends - The automotive sector is expected to continue focusing on smart technology, with the launch of Tesla's Robotaxi likely to further stimulate the smart vehicle theme [9] - The penetration rate of intelligent driving in domestic cities is anticipated to rise rapidly, driven by the focus on vehicles priced between 100,000 to 200,000 yuan [9] Investment Recommendations - Recommended stocks include Xiaopeng Motors, Tesla, Li Auto, and Xiaoma Zhixing, with a focus on parts supplier, Aptiv [10]

Business Overview - The company operates in four main business units: electric motor technology (electric motor and electric module), and fluid technology (driving vision cleaning system and thermal management system) [2][3] - Key products in the electric motor unit include trunk and side door motors, fan motors, and ABS motors; the electric module unit includes invisible door handle drive mechanisms and charging door actuators [2] - The fluid technology unit's driving vision cleaning system includes automotive cleaning pumps and advanced driver-assistance systems (ADAS) sensors [2][3] Robotics Development - The company is focusing on humanoid robotics, engaging with overseas clients and developing prototypes; plans to accelerate domestic customer expansion and participate in industry exhibitions to showcase technological achievements [4] Thailand Factory Expansion - The first phase of the Thailand factory focuses on cleaning pumps and motors, with plans to expand to more complex components like active perception cleaning systems and thermal management systems in the second phase [5] ADAS System Progress - The company has secured mass production projects for active perception cleaning systems with clients like Waymo and Meituan, planning to produce 250,000 sets per year, with some production in Thailand [6] EPB Motor Development - The company has achieved mass project designation in the EPB motor sector, marking a significant development in the automotive chassis field [7] Seat Motor Market Trends - The company is developing electric motors for car seats, responding to increasing consumer demand for comfort features; the transition from manual to electric seats is expected to expand market capacity [8] R&D Investment - The company maintains a steady R&D investment strategy, focusing on electric motors, cleaning systems, and magnetic materials; future investments will target new product development, process innovation, and automation to enhance production efficiency [9]