从华钼科技的主营业务来看，运达科技的布局方向瞄准蓝海市场，壁垒明显，潜力与挑战并存：门槛 高，落地难，干线物流场景虽然市场规模大，但路况复杂，对技术要求更高。此外，场景还关系到路权 的获取，几乎没有出现深度介入的上市公司。 运达科技 经历两年盈利阵痛，轨交智控龙头运达科技（300440.SZ）的"大交通"战略布局迎来实质性进展。9月29 日，运达科技子公司扬斯科技与蜀道集团达成沟通，或将共同推进四川首个自动驾驶卡车编队在年内上 路。 此举意在依托蜀道集团的庞大路权资源，推动四川在全国自动驾驶物流商业化竞赛中占据先机。双方此 前已在8月签署战略合作协议，扬斯科技参投蜀道旗下华钼科技40%股权，共同打造自动驾驶数据安全 监管+运力交易撮和平台，共建成渝双城首个高速公路自动驾驶编队标杆，商业化场景主要在高速公 路、铁路物流园区等封闭区间。 值得注意的是，相关产业在国内尚无落地案例，但在国际市场已得到印证，9月初美国卡车物流自动驾 驶企业Kodiak登陆纳斯达克，年度净利润3.5亿元，估值超100亿元。而运达科技作为布局明确的参与 者，自今年 5 月以来股价表现强势，累计涨幅一度超过60%，备受市场关注。 转型高准入 ...

Group 1: Industry Trends - The commercial vehicle sector is undergoing a transformation towards electrification and intelligence, driven by advancements in technologies such as AI, big data, and 5G [1][3] - The L4 level autonomous commercial vehicles are being mass-produced, showcasing significant advantages in range and load capacity compared to existing models [1][2] - The introduction of autonomous driving technology is expected to reduce accidents caused by driver fatigue or distraction, enhancing overall safety in long-distance transportation [2][3] Group 2: Company Developments - Pony.ai reported a revenue of $75 million in 2024, with over half coming from its Robotruck services, indicating strong market demand for autonomous trucking solutions [3] - The company has achieved breakthroughs in autonomous truck technology, allowing for large-scale commercial testing and operations [3][4] - Kargo Cloud, developed by another company, aims to enhance logistics efficiency through a smart logistics scheduling platform, which can significantly reduce operational costs [4][6] Group 3: Market Potential - The domestic sales of new energy commercial vehicles are projected to reach 560,000 units in 2024, with a 51% year-on-year increase in early 2023 [7] - The L4 commercial vehicle market in China is expected to exceed 50 billion yuan by 2025, positioning China as a leading market for intelligent commercial vehicles [7][8] Group 4: Policy and Regulatory Environment - Recent policy initiatives aim to establish a unified management framework for intelligent connected vehicles, which will support the large-scale application of L4 autonomous trucks [8][9] - The introduction of new insurance guidelines for new energy vehicles is expected to alleviate challenges related to insuring these vehicles, promoting market growth [9][10] Group 5: Challenges and Solutions - The industry faces challenges such as regulatory lag and the need for a standardized testing framework for autonomous vehicles [7][10] - Establishing a "data alliance" and a "responsibility community" is proposed as a solution to overcome data silos and enhance collaboration across the industry [11][12] - A comprehensive ecosystem involving technology innovation, standardization, insurance innovation, and public acceptance is essential for the sustainable growth of the intelligent commercial vehicle sector [12]