点 击 蓝 字 关 注 我 们 本文全文共 3527 字，阅读全文约需 12 分钟 目录 国内新闻 1.九部门:促进汽车绿色消费 支持消费者购买新能源汽车 2.国务院:加快出台新能源汽车动力电池综合利用管理办法 3.商务部:2025年汽车以旧换新超1150万辆 4.重庆即日起全面启动2026年消费品以旧换新补贴政策 5.比亚迪将在巴西推出首款灵活燃料插电式混合动力车 6.极氪瞄准德国企业用车市场 7.NIO Power新增上线36座站桩 8.红旗全固态电池首台样车成功下线 国外新闻 1.泰国2025年11月汽车销量同比增长21% 2.铃木将变革其印度市场汽车销售模式 3.Rivian宣布2025年交付新车42247辆 4.起亚2026年全球销量目标为335万辆 商用车 1. 2025年全年新增19.5万辆新能源重卡 2. 远程X7M 1200度液态新能源重卡首发交付 1月5日电，商务部等9部门关于实施绿色消费推进行动的通知1月5日对外发布。其中提到，促进汽车绿色 消费。支持消费者购买新能源汽车。做强汽车产业链，挖掘二手车、汽车租赁、汽车改装、汽车共享等"后市 场"潜力，探索盘活闲置车辆增收，支持发展房车露营、 ...

｜2026年1月5日 星期一｜ NO.3浙商证券：关注价格改善的信号 浙商证券研报指出，本期观察到，行业的景气提升主要体现在"涨价"，如有色金属中的黄金、白银、铜 等价格大幅上行，基础化工中的甲醇、沥青、天然橡胶和电力设备中的碳酸锂、氢氧化锂价格边际抬 升；TMT中，半导体销售周期上行，行业景气度不减，多家晶圆代工与存储厂商近期相继向市场释放 涨价信号。该机构认为，除了要关注主题性的投资机会如机器人、自动驾驶外，适当增加对"涨价"品种 的关注度，如基础化工、电力设备（锂电池）、电子半导体等。 免责声明：本内容与数据仅供参考，不构成交易建议，使用前请核实。据此操作，风险自担。 每日经济新闻 NO.1中信建投：继续看好跨年行情 中信建投研报指出，A股跨年行情如期展开，今年元旦市场面临的流动性环境和汇率环境明显好于前两 年。人民币汇率保持强劲，有利的外部环境或将推动A股元旦后迎来"开门红"行情。同时国内流动性环 境整体宽松，也有利于跨年行情的展开。人民币升值、科技板块利好集中释放、宏观经济预期改善及资 金面积极信号等多重利好共同推动港股开年大涨，这些利好也同样有望推动A股跨年行情的继续演绎。 NO.2中泰证券：科技 ...

Group 1 - The A-share market is expected to experience a favorable cross-year trend, supported by a better liquidity and exchange rate environment compared to previous years [1] - The strong performance of the RMB and a generally loose domestic liquidity environment are anticipated to contribute to a "good start" for the A-share market after the New Year [1] - Multiple positive factors, including RMB appreciation, concentrated benefits in the technology sector, improved macroeconomic expectations, and positive signals in the funding environment, are likely to drive the continuation of the cross-year trend in the A-share market [1] Group 2 - The current market risk appetite remains high, providing room for high-elasticity technology themes to continue their upward trajectory [2] - Despite the overall valuation level of the technology sector being relatively high, it has not yet entered a frenzy stage, indicating a significant gap from historical bubble periods [2] - Global liquidity expectations are anticipated to further support high-valuation technology assets, with a focus on sectors such as robotics, sports, and non-bank segments, while caution is advised against overcrowded areas like commercial aerospace [2] Group 3 - The improvement in industry prosperity is primarily reflected in price increases, with significant price rises observed in precious metals like gold and silver, as well as in base metals such as copper [3] - The basic chemical sector has seen marginal price increases in methanol, asphalt, natural rubber, and in power equipment, particularly lithium carbonate and lithium hydroxide [3] - The semiconductor sales cycle is on the rise, maintaining industry prosperity, with several foundries and storage manufacturers recently signaling price increases [3]

Core Insights - The core perspective is that China is expected to nurture a number of globally competitive automotive companies, fundamentally reshaping the competitive landscape of the global automotive industry [3][4]. Company Strategy - Leap Motor aims to become a world-class automotive enterprise by 2025, having received strategic investment from FAW Group and deepening collaboration with Stellantis [2]. - The company emphasizes a business approach focused on cost recovery within three years, ensuring that all investments return to the essence of business [2][5]. - Leap Motor's product philosophy is centered on providing high-quality products at reasonable prices, aiming to create value for users while reducing costs and improving efficiency [2][6]. Market Position - Leap Motor has risen to the sixth or seventh position in domestic new energy vehicle sales by 2025, with plans to steadily improve its global market position [4]. - The company has set an ambitious sales target of 1 million vehicles by 2026, supported by its technological reserves, product planning, and user recognition [6][5]. Technological Development - Leap Motor adheres to a fully self-research and development (R&D) approach, controlling about 65% of its core components in-house, including the three electric systems and intelligent driving controllers [9]. - The company believes that new technologies must demonstrate real value to users and improve operational efficiency, with AI being integrated into various aspects of R&D, manufacturing, and service [11][7]. Industry Outlook - The automotive industry is experiencing a significant aggregation trend, with the potential for several Chinese companies to reach an annual production scale of 4 million vehicles, similar to the current landscape of the 3C and mobile phone industries [3]. - Leap Motor's CEO highlights that the true competitive advantage lies in a combination of deep R&D capabilities, cost control systems, and a user-centric response mechanism [10].

Core Viewpoint - The article discusses the advancements in autonomous driving technology, particularly focusing on the Vision-Language-Action (VLA) model, which integrates visual perception, semantic understanding, and logical decision-making to enhance the capabilities of autonomous vehicles. The introduction of the AutoDRRT 3.0 framework aims to address the challenges of real-time processing and system optimization for VLA models in automotive applications [2][3][8]. Summary by Sections VLA Model and Challenges - The VLA model is becoming the preferred solution for autonomous driving, enabling vehicles to understand and reason like humans. However, the model's parameter scale has increased to billions, leading to processing delays exceeding 100ms, necessitating optimization of hardware and software systems for real-time performance [2][5][6]. AutoDRRT 3.0 Framework - The AutoDRRT 3.0 framework, developed by Inspur Information, is an open-source solution designed to accelerate the deployment of VLA models in vehicles. It reduces the end-to-end latency of VLA models from 8000ms to 78ms, achieving a performance improvement of 102 times [3][13][23]. Innovations in Computation - AutoDRRT 3.0 introduces several computational innovations, including parallel decoding, visual pruning, and operator fusion. These techniques significantly enhance the efficiency of the VLA model's inference process, allowing for smoother and faster action outputs [9][12][13]. Communication Mechanism - The framework also features a high-performance communication mechanism that optimizes data transfer between heterogeneous computing units, reducing latency and improving the overall responsiveness of the system. This mechanism allows for zero-copy data transfer, enhancing efficiency during large data loads [16][17][23]. Scheduling Innovations - AutoDRRT 3.0 implements a unified scheduling framework for heterogeneous computing resources, ensuring efficient task management and resource allocation. This approach minimizes idle computing time and enhances the overall system stability and performance [18][21][20]. Future Prospects - The article concludes that the AutoDRRT 3.0 framework not only validates the feasibility of real-time operation of VLA models in vehicles but also lays a solid foundation for the transition of autonomous driving technology towards scalable and replicable solutions across various applications [23].

招商证券指出，小马智行-W属L4领域先行者，技术及商业化能力构筑护城河。公司依托于世界模型和 虚拟司机技术公司在L4领域深耕，更在商业化应用方面取得了实质性突破，尤其是去年第三季度在广 州实现的Robotaxi单车盈利转正，标志着其商业化迎来阶段性的里程碑式时刻。该行认为，小马智行凭 借先发优势和行业地位，在自动驾驶出行服务和自动驾驶货车领域占据重要的市场份额，随着第七代车 型的加速部署和车队规模扩大，强劲的增长势头有望延续。 智通财经获悉，小马智行-W(02026)高开逾6%，截至发稿，涨6.29%，报123.4港元，成交额76.51万港 元。 本文源自：智通财经网 消息面上，近期，小马智行联合创始人、CFO王皓俊在接受采访时透露，依托第七代Robotaxi的规模化 投放，公司已在广州实现单车盈利(UE 转正)，日均营收每车达299元，2025年底车队规模将突破1000 辆，2026年目标扩容至3000辆，远期计划2030年达成10万辆运营规模。此次在广州市场实现单车盈利的 核心支撑，来自第七代Robotaxi的技术突破与成本优化。 ...

智通财经APP获悉，信达国际发布研报称，禾赛-W(02525)盈利能力及现金流优于同业，支持估值溢 价，维持其"买入"评级和200港元目标价。据机构综合预测，市场预期24至27财年收入及经调整盈利年 复合增长分别达41%及321%，现价对应26财年预测市销率5.5倍，高于同业速腾聚创(02498)的4.7倍。不 过，根据灼识咨询的资料显示，公司为全球首家实现全年净利润(非公认会计准则计量)的激光雷达公 司，以及23及24财年均录得全年正数经营现金流，成为首家产生正营运现金流量的激光雷达上市公司。 信达国际主要观点如下： 2025年第三季提前完成全年盈利目标，并上调指引 随着自动驾驶发展趋向更高级别，预计每辆车辆将搭配更多激光雷达设备。市场估计每辆L3级车型激 光雷达数量达3-6个，较L2级的1-2个有所增加。而禾赛已获得超过120个车型量产定点，据盖世汽车研 究院的数据，公司已连续七个月在车载主激光雷达领域稳居行业第一，8月市场份额高达46%，有望受 惠于渗透率提升。目前主要客户包括理想汽车-W(02015)、小米集团-W(01810)和零跑汽车(09863)。主 打低成本高性能的核心产品ET系列，以及针对L ...

Core Viewpoint - The company, Pony.ai-W (02026), has achieved single-vehicle profitability in Guangzhou with its seventh-generation Robotaxi, marking a significant milestone in its commercialization efforts [1] Group 1: Financial Performance - The stock opened over 6% higher, currently up 6.29% at HKD 123.4, with a trading volume of HKD 765,100 [1] - Daily revenue per vehicle has reached CNY 299 [1] Group 2: Growth Projections - The company plans to expand its fleet to over 1,000 vehicles by the end of 2025 and aims for 3,000 vehicles by 2026, with a long-term goal of 100,000 vehicles by 2030 [1] Group 3: Technological Advancements - The profitability in Guangzhou is supported by technological breakthroughs and cost optimization from the seventh-generation Robotaxi [1] - The company is recognized as a pioneer in the Level 4 (L4) autonomous driving sector, leveraging world models and virtual driver technology [1] Group 4: Market Position - According to China Merchants Securities, Pony.ai-W has established a competitive moat through its technological and commercialization capabilities [1] - The company holds significant market share in both autonomous ride-hailing services and autonomous trucking, benefiting from its first-mover advantage and industry position [1]

Core Viewpoint - Pony.ai has achieved single-vehicle profitability in Guangzhou with its seventh-generation Robotaxi, marking a significant milestone in its commercialization efforts [1] Group 1: Financial Performance - The company reported an average daily revenue of 299 yuan per vehicle [1] - The stock price increased by 6.29%, reaching 123.4 HKD, with a trading volume of 765,100 HKD [1] Group 2: Growth Plans - By the end of 2025, the fleet size is expected to exceed 1,000 vehicles, with a target of expanding to 3,000 vehicles by 2026 [1] - The long-term goal is to achieve an operational scale of 100,000 vehicles by 2030 [1] Group 3: Technological Advancements - The profitability in Guangzhou is supported by technological breakthroughs and cost optimization from the seventh-generation Robotaxi [1] - The company is recognized as a pioneer in the L4 autonomous driving sector, leveraging world models and virtual driver technology [1] Group 4: Market Position - According to招商证券, Pony.ai's early mover advantage and industry position allow it to capture significant market share in autonomous ride-hailing and freight services [1] - The acceleration of the deployment of the seventh-generation vehicles is expected to sustain strong growth momentum [1]

点击下方 卡片 ，关注" 自动驾驶之心 "公众号 戳我-> 领取 自动驾驶近30个 方向 学习 路线 该工作系统性地复盘了截止 2025年9月 的 77篇 前沿论文，从 端到端 VLA 、 世界模型 、 模块化集成 三大维 度，为开发者提供了一份详尽的"大模型上车"学习路线图。 核心看点：读懂世界模型与VLA的演进 本综述精准切中了当前自动驾驶社区最关心的三大技术命题，构建了清晰的技术象限。 图1：自动驾驶大模型技术架构图谱（涵盖模块化、端到端、数据生成及平台四大核心领域） 1. 端到端集成的终局：VLA (Vision-Language-Action) 论文作者 | Hanlin Tian, Kethan Reddy, Yuxiang Feng, Mohammed Quddus, Yiannis Demiris, Panagiotis Angeloudis 单位 | 帝国理工学院 (Imperial College London) 最近， DriveLaW 、 OpenDriveVLA 等架构的提出，标志着自动驾驶正在从"感知-规划"分离走向 VLA (Vision-Language-Action) 的端到 ...