Scott Olson / Getty Images Tesla (NASDAQ:TSLA) is undoubtedly one of the most divisive stocks in the market. The company's CEO has made sure of that, with Elon Musk's outspoken behavior and foray in the the world of politics turning this company into a love-it or hate-it type of entity. Quick Read Tesla dropped to third-largest EV maker globally behind two Chinese competitors. Only 40% of U.S. EV sales now come from Tesla versus near-monopoly status during early pandemic. Musk’s Master Plan IV proje ...

Core Insights - Leapmotor aims to achieve an annual sales target of 1 million vehicles by 2026 and reach 4 million vehicles in the next decade, positioning itself as a world-class automaker [3][4][7] - The company is transitioning from being a "cost-performance representative" to a "world-class automaker" through high-end product offerings and technological advancements [3][7] Product Strategy - The D series, including the flagship MPV D99, is designed to penetrate the high-end market, with a price range of 300,000 RMB, offering both extended range and pure electric options [3][4] - Leapmotor adheres to a "cost-based pricing" principle, ensuring that even with higher-end models, the perceived quality and value can compete with vehicles priced between 500,000 and 1 million RMB [3][4] Production Capacity - The company has prepared a battery supply redundancy of 1.2 to 1.3 times to meet the demand for 1 million vehicles, with a cumulative delivery of over 1.2 million vehicles to date [4][6] - Leapmotor collaborates with leading suppliers like CATL and AVIC Lithium Battery, and plans to start production at its joint battery factory by mid-2026 [3][4] Technological Advancements - Leapmotor is shifting from a following strategy to a leading position in the autonomous driving sector, focusing on L3-level applications and aiming to catch up with industry leaders [5][6] - The company has set a three-year return on investment criterion for new technologies, ensuring that only those that provide real user value will receive significant investment [5][6] Market Positioning - Leapmotor is enhancing its channel and service systems to align with its high-end transformation and sales goals, emphasizing user experience as a core aspect of luxury [6][7] - The company faces challenges in reshaping user perceptions and establishing brand value that justifies higher pricing in the luxury MPV market [7]

又一家自动驾驶公司要来港股IPO了。 不久前，港交所官网披露，主线科技已通过聆讯并公布招股书。 作为国内L4级自动驾驶卡车龙头，主线科技收入在过去两年增长迅速。 2022-2024年，公司收入分别为1.12亿、1.34亿、2.54亿元，复合年增长率50.4%。 今年上半年，公司收入更是达到0.99 亿元，比去年同期增长1745.7%。 按2024年收入规模计算，主线科技已成为国内封闭场景商业化自动驾驶解决方案提供商中规模最大的公司，市场份额 高达31.8%。 从业务路径看，主线科技并非一开始就押注最复杂的开放道路。 公司早期以港口、园区等封闭场景切入，在规则相对清晰、干扰因素较少的环境中积累技术与交付经验；随后，才将 重心逐步延伸至公路干线运输这一更大、也更难的市场。 为了在公路运输场景实现落地，公司提出了"1+N 混合编队"模式： 从收入看，过去两年里，主线科技实现了不错的增长。 2022–2024年，公司收入分别为1.12 亿元、1.34 亿元、2.54 亿元，复合年增长率50.4%。 今年上半年，公司收入更是达到0.99 亿元，比去年同期增长1745.7%。 驱动公司收入增长的核心原因是，公司履行的项目 ...

从如火如荼的智能驾驶，到真正的自动驾驶，道阻且长。胡大林认为，自动驾驶产业的生态演进分为三 个层次：技术生态、产业生态与社会生态。而自动驾驶要真正走向规模化落地，必须解决"发散环境下 的安全收敛"这一核心难题。 "传统的汽车测试手段难以覆盖自动驾驶算法的复杂性与不确定性，行业亟需新的验证范式。"胡大林提 到，赛目科技自行业起步阶段就提出，要在传统实测基础上，构建以仿真为核心的"算法级验证"体系。 当前，ICV（智能网联汽车）仿真测试、验证和评价业务被视为自动驾驶量产落地的加速器。赛目科技 凭借在这一领域的技术积累与创新解决方案，已成为行业重要的支撑力量。据弗若斯特沙利文资料，按 2023年收入计，赛目科技已是中国ICV测试、验证和评价解决方案行业以及ICV仿真测试软件及平台市 场的最大参与者，市场份额分别约为5.3%和5.9%，并是少数能提供一站式解决方案的企业之一。 "这个仿真与传统仿真的根本区别在于，它需要深度介入算法本身，精准定位其在特定工况下的潜在缺 陷与能力边界，并通过与场地测试、公开道路测试的闭环联动，形成一套层层递进的风险压缩机制，最 终推动自动驾驶系统收敛至'企业敢推、监管敢批、用户敢用'的可 ...

凤凰网科技讯 12月29日，特斯拉今日发布Robotaxi年度报告，详细展示了其自动驾驶出租车服务在技术 架构、落地时间表及未来车型量产方面的具体进展。根据公布的信息显示，特斯拉Robotaxi服务已于 2025年6月率先在美国得州奥斯汀落地，并在8月扩展至旧金山湾区。 在核心技术路线上，特斯拉重申了其"纯视觉"方案的坚定立场。视频报告指出，Robotaxi的技术底座完 全基于特斯拉视觉方案（Tesla Vision）与端到端神经网络，车辆在运行过程中不依赖高精地图，也不需 要激光雷达。这一策略旨在通过低成本、可扩展的硬件配置，应对各种复杂的路况环境。画面显示，该 系统目前已采用"全自动驾驶（监督版）"进行数据积累，具备处理从拥堵市区到开阔道路的多种驾驶场 景能力。 马斯克在报告中展望，通过持续的技术迭代，特斯拉致力于构建一个不间断、低成本的无人驾驶网约车 服务网络，这不仅是出行方式的变革，更是对未来城市交通效率的重新定义。 针对市场关注的运营安全与数据积累问题，报告披露了一组关键数据预测：截至2025年10月底，特斯拉 在北美地区的累计自动驾驶行驶里程将超过200万公里。基于庞大的数据训练基础，特斯拉计划在 ...

Investment Rating - The report maintains an investment rating of "Recommended" for the automotive industry [2]. Core Insights - Baidu's collaboration with Uber and Lyft to launch a Robotaxi pilot project in the UK in 2026 is a significant development, indicating a global expansion strategy for domestic Robotaxi operators [3][4]. - The report highlights that leading domestic Robotaxi operators are achieving positive unit economics (UE) per vehicle, driven by fleet expansion and reduced vehicle costs, with expectations for rapid growth in fleet size in 2026 [4]. - The report emphasizes the potential for improved operational performance and market expansion for Robotaxi operators, particularly in regions where traditional ride-hailing costs are significantly higher than in China [4]. Summary by Sections Industry Overview - The report discusses the strategic importance of partnerships with international ride-hailing platforms for domestic Robotaxi operators, facilitating their global market expansion [4]. - It notes that the first L3 level vehicles have received approval for mass production, marking a significant step towards the widespread application of autonomous driving technology [2]. Market Dynamics - The report indicates that leading players in the Robotaxi sector are achieving profitability on a per-vehicle basis, with companies like Luobo Kuaipao and Xiaoma Zhixing reporting positive unit economics in specific cities [4]. - The cost of autonomous driving kits has decreased significantly, with Xiaoma Zhixing reporting a reduction of over 70% compared to previous generations, further supporting profitability [4]. Investment Recommendations - The report suggests focusing on key companies such as XPeng Motors, Desay SV, Huayang Group, Bertel, Junsheng Electronics, Xiaoma Zhixing, Horizon Robotics, Nexperia, and Top Group, as they are expected to perform well in the growing Robotaxi market [4][6].

特斯拉Robotaxi准备入华了？！ 特斯拉Robotaxi急聘工程师，岗位信息都发到中国区的招聘页了，而且注明工作地就是在上海。 果然是喜欢挑战的马斯克…… Robotaxi专属网站已经上线，入门指南、运营区域都已就绪，摆明了准备大规模扩张的架势。 美国那边和Waymo的竞争还在愈演愈烈呢，特斯拉这就准备好和中国玩家们正面交锋了吗？ 特斯拉Robotaxi在中国招聘 特斯拉中国招聘主页，正在急聘一名低压电气工程师，工作地点就位于上海。 岗位所属的低压硬件团队，主要工作是负责设计特斯拉Robotaxi的核心电路板。 这些电路板，控制着Robotaxi所有电气系统包含的数百个设备，例如电机、执行器、传感器、LED灯。 | 职位名称 | | --- | | 低压电气工程师, Robotaxi, 自 | | 动驾驶汽车 Low Voltage | | Electrical Engineer, Robotaxi, | | Autonomous Vehicles ... | 而正在招聘的这一岗位，则负责电路板全流程硬件工作，涵盖规格说明、架构设计、电路设计、仿真、电路板验证等等。 同时也要兼顾整个设计、计算、验证过程的 ...

Core Insights - The 2025 China Automotive Software Conference will be held on December 15-16 in Shanghai, focusing on the transformation and challenges in the automotive industry, particularly in software and AI integration [4][6]. Group 1: Industry Transformation - The automotive industry is entering a phase of "AI-driven" transformation, moving from hardware-defined to software-defined vehicles, with significant advancements in smart and connected technologies during the 14th Five-Year Plan [8]. - The approval of the first batch of L3 conditional autonomous driving vehicles in China is expected to stimulate new business models in transportation and insurance, fostering a safe and efficient industrial ecosystem [8]. Group 2: Key Trends and Innovations - "Smart driving popularization" and "technology equality" are identified as key trends for the automotive industry by 2025, with advanced technologies like L2-level assisted driving becoming standard in mainstream vehicles [10]. - The value chain is shifting from hardware to software and services, with companies adopting business models that leverage hardware to drive software profitability [12]. Group 3: Challenges in the Industry - The automotive software industry faces challenges in three main areas: achieving self-sufficiency in core technologies, improving ecosystem and collaboration mechanisms, and balancing technological innovation with practical application [16][17]. - The need for a unified platform and open ecosystem is critical, as current issues include data silos and technological fragmentation that hinder collaboration [16]. Group 4: Pathways for Development - Proposed strategies for overcoming industry challenges include fostering independent innovation, collaborative construction, talent support, and ensuring safety [23]. - Standardization is crucial for efficient collaboration, focusing on software interface specifications, AI application standards, and data security requirements [23][24]. Group 5: Policy and Support - Local government support is essential for building a favorable environment for the automotive software industry, with ongoing efforts to enhance infrastructure and cooperation platforms [26]. - The automotive software industry's development is seen as a path toward innovation and collaboration, contributing to high-quality growth and global competitiveness [28].

宣传语从"智能驾驶"变为"辅助驾驶"，似乎是一夜之间的事。 2025年3月，一辆小米SU7在安徽德上高速发生严重事故，将智驾安全推上风口浪尖，智能驾驶不等于自动驾驶的技术区分被广泛警示。此次事件影响之 大，甚至可以视为"辅助驾驶"营销宣传转变的导火索。 在此之前，"全程零接管""高阶智驾""准L3级"等模糊表述充斥全网，事件发生后，整个市场短期内噤若寒蝉，几乎所有车企都闭口不谈"智能辅助驾驶"，以 上海车展为分水岭，车企开始全面替换宣传物料，取消"自动驾驶""高阶智驾"等表述，突出"辅助驾驶"等字眼，强调L2级辅助驾驶功能开启时，驾驶员必须 实时监控和控制。 全行业能如此的步调一致，一定有一只"大手"在背后提出了强制要求。实际上，智能化一直是我国在本轮汽车产业变革中的优势领域，加速发展智能网联技 术既是车企的盈利诉求，也是我国汽车产业在全球争夺话语权的重要锚点。在这一点上，国家层面与企业层面的目标是一致的，但遗憾的是，企业在激烈的 市场竞争中似乎身不由己"杀红了眼"，在营销上愈发剑走偏锋，失去了"务实"的精神，偏离了正轨，此时监管对车企的约束就尤为重要且必要。 监管精准出手，直击"虚假宣传""术语误导" 4月 ...

12月29日，港股科技ETF（513020）涨超0.2%，板块有望回升，港股科技布局窗口开启。 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 港股通科技指数相比恒生科技指数超配新能源车、创新药、半导体等行业，从业绩表现来看，从 2014年底基日开始至2025年10月底，港股通科技指数累计收益256.46%，相对恒生科技指数（96.94%） 超额近160%，长期跑赢恒生科技指数、沪港深互联网指数、恒生互联网科技业指数、恒生医疗保健指 数等同类指数。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供 参考，不代表其未来表现，亦不构成对基金业绩的承诺或保证。观点可能随市场环境变化而调整，不构 成投资建议或承诺。提及基金风险收益特征各不相同，敬请投资者仔细阅读基金法律文件，充分了解产 品要素、风险等级及收益分配原则，选择与自身风险承受能 ...