Core Insights - The intelligent automotive industry in China has entered the AI Driving 2.0 phase, with accelerated technological iteration [1] - The VLA (Vision-Language-Action) technology architecture, represented by companies like Li Auto and Yuanrong Qihang, breaks the limitations of traditional end-to-end models by integrating three modalities to enhance system interactivity and long-term reasoning capabilities [1] - The industry is transitioning from rule-driven to data-driven approaches, although there are still concerns regarding technological pathways, investment returns, and policy implementation risks [1] Industry Developments - Huawei's ADS 4.0 adopts the WEWA architecture, emphasizing cloud simulation and vehicle model collaboration to create a direct cognitive model of the physical world, enabling rapid response and high safety redundancy [1] - Horizon Robotics and Momenta focus on one-stage end-to-end systems combined with reinforcement learning to enhance the human-like experience of intelligent driving systems [1] Investment Opportunities - The Intelligent Automotive ETF (159889) tracks the CS Intelligent Automotive Index (930721), which selects representative listed companies in the intelligent driving and vehicle networking sectors from the A-share market [1] - The index aims to reflect the overall performance of securities related to intelligent automotive companies, showcasing the industry's diversity and broad characteristics [1]