Group 1 - Shanghai has launched the "Mosu Zhixing" action plan to promote autonomous driving technology innovation and its industrial competitiveness, with a focus on model-driven leadership and application demonstration [1] - The plan aims to establish public service platforms, including a digital twin training ground for autonomous driving, and expand the open area for autonomous driving to 2,000 square kilometers with over 5,000 kilometers of roads [1] - The action plan is expected to provide new support for the development of the autonomous driving industry, including organized smart taxi demonstration operations and pilot projects for L3 autonomous passenger vehicles [2] Group 2 - As of January 14, there are 7,767 companies related to intelligent driving in China, with the East China region accounting for 43.8% of these companies [3] - China holds 51,000 patents related to intelligent driving, with 85.9% being invention patents, indicating a significant growth in both companies and patents in the sector [3] - Nvidia has introduced an open-source AI model platform for autonomous driving, which is expected to enhance the capabilities of autonomous driving systems [3] Group 3 - Several domestic companies, including Changan, BYD, and GAC, have made substantial progress in the L3 autonomous driving field, with multiple models receiving road testing permits [4] - The formal implementation of L3 autonomous driving regulations is anticipated to be a key catalyst for industry development by 2026 [4] - Companies like Aichi Securities believe that automakers with advanced intelligent technology and supply chain control will benefit first from the commercialization of intelligent driving [2] Group 4 - Companies such as Junsheng Electronics and CAOCAO have entered strategic partnerships to develop L4 autonomous driving solutions and digital management platforms [5][6] - The launch of new models by companies like Seres and Leap Motor indicates a competitive landscape in the high-end user market for autonomous vehicles [6][7] - The collaboration between ZF and Horizon Robotics aims to develop L3 intelligent driving systems, with mass production expected in 2026 [7]

Group 1: Satellite Industry Developments - Over 60 institutions in China have submitted satellite data to the ITU, with several companies and research institutions involved, indicating a broad industry coverage [1] - Major players like China Star Network and Shanghai Yuanxin have proposed satellite constellations exceeding 10,000 satellites, highlighting the competitive landscape in low Earth orbit satellite deployment [1] - The low Earth orbit satellite market is projected to reach a trillion yuan, with significant growth potential expected over the next decade [1] Group 2: Autonomous Driving Initiatives in Shanghai - Shanghai has launched the "Mosu Zhixing" action plan to advance high-level autonomous driving, focusing on key technology breakthroughs in hardware and software [2][3] - The plan aims to establish a comprehensive data collection and management system for intelligent connected vehicles, promoting data collaboration across enterprises and regions [3] - By 2027, the plan targets the large-scale implementation of high-level autonomous driving applications, aiming to create a globally competitive smart connected vehicle industry cluster [4] Group 3: Financial Support for Technology and Startups - The Ministry of Science and Technology plans to enhance financial services for major national technology tasks and small to medium-sized tech enterprises by collaborating with financial institutions [5] - The government will support innovative financial products and services to strengthen financing for key technology sectors [5] - Anhui Province has introduced measures to support angel investment funds, allowing for a maximum investment loss tolerance of 80% to encourage investment in innovative startups [10] Group 4: Taxation and Compliance in the Digital Economy - The State Taxation Administration is taking steps to regulate the tax order in the online streaming industry, emphasizing compliance and proper tax reporting by internet platform operators [8] - Recent cases of tax evasion among online streamers highlight the need for stricter enforcement of tax regulations in the digital economy [8] Group 5: New Ventures in Commercial Space - Ningbo Commercial Aerospace Development Company has been established with a registered capital of 1 billion yuan, focusing on various aerospace services and technologies [9] - The company aims to engage in satellite launch services, satellite control systems development, and investment activities, reflecting the growing interest in commercial space ventures [9]

最近市场的热度基本都在AI应用上，我们也还是维持之前的观点，看好这一轮的AI应用。 在前面的 文章中，我们也提到过，其实无人 驾驶就是目前最大的AI应用场景： AI最大的应用--无人驾驶 后面我们会规划多篇关于无人驾驶的产业分析文章，带大家一起跟踪无人驾驶的产业政策、投资方向。 这篇文章来专门讲一下逐渐放开的无人驾驶政策，为什么特意讲这个？ 因为现在 智驾面临的很大问题就是技术进步和政策滞后的矛盾，而智驾已是大国博弈的一个重要方向。 就在1月13日下午2:00 ET（也就是北京时间今天凌晨3点），美国众议院能源与商务委员会就放宽无人驾驶车辆部署举行听证会，这个 法案的全称有点长《Safely Ensuring Lives Future Deployment and Research In Vehicle Evolution (SELF DRIVE) Act of 2026》，简称SELF DRIVE Act。 里面提到了关于防范中国竞争以及针对智驾的一些要求和标准，而今天下午上海就发布了关于智驾的行动计划。 可以说两国的竞争已经逐渐白热化，政策已经越来越开放，2026 是智驾从 "试点" 转向 "规模化落地" ...

Core Insights - Deutsche Bank predicts that 2026 will mark the year of large-scale deployment for Robotaxis and humanoid robots, transitioning from testing to commercialization [2][3] - The report emphasizes the emergence of a new supply chain for humanoid robots, with suppliers shifting focus to achieve mass production [3][5] Group 1: Humanoid Robot Supply Chain - The supply chain for humanoid robots is taking shape, with actuators becoming the "muscle" entry point [4] - Schaeffler aims to be a key supplier of actuators for humanoid robots, showcasing a compact integrated planetary gear actuator at CES [6] - Hyundai Mobis plans to supply actuators for Boston Dynamics' Atlas, leveraging the automotive supply chain for manufacturing [7] Group 2: Onboard Chip Landscape - Nvidia remains the dominant player in onboard processors for humanoid robots due to performance and ease of use, with various companies utilizing its Jetson Orin or Thor [8][9] - Tesla and Xpeng are developing their own inference chips, indicating a diversification in the chip landscape [9] Group 3: Physical AI Transition - A significant paradigm shift is observed from pre-programmed actions to visual-language-action (VLA), enabling robots to reason and complete tasks [11][12] - The industry debate has shifted from "simulation vs. reality" to how to efficiently close the loop between the two [14] Group 4: Commercial Viability of Humanoid Robots - The report suggests that general-purpose humanoid robots will initially be deployed in specific scenarios to prove commercial viability before entering households [18][19] - Keenon Robotics holds a 40% global market share in service robots, with plans to showcase its humanoid robot XMAN-R1 at CES 2026 [20] Group 5: Cost Reduction and Scalability - Cost reduction in humanoid robots is driven by increased volume and improved supplier negotiations, with some companies reporting costs dropping from $200,000 to $100,000 [22][24] - Mobileye's Mentee project indicates that with an annual production of 50,000 units, manufacturing costs could drop to $20,000 per unit, and potentially to $10,000 with 100,000 units [24] Group 6: Robotaxi Commercialization Momentum - Deutsche Bank believes that 2026 will see stronger commercialization momentum for Robotaxis, with Tesla planning to launch its Robotaxi in 2025 [26][27] - Waymo has provided over 10 million paid rides since its inception, with plans to expand its service to international markets [27][28] Group 7: Nvidia's Alpamayo Platform - Nvidia introduced the Alpamayo platform for autonomous driving, aiming to lower the barrier for automakers to deploy advanced capabilities [30][31] - Despite the potential advantages, concerns remain about whether Nvidia can meet real-world edge cases compared to Tesla's data collection [31][32] Group 8: Industry Innovations - Aptiv showcased an end-to-end AI-driven ADAS platform, emphasizing cross-industry applications and real-time data sharing [33] - Visteon launched a SmartCore HPC domain controller with 700 TOPS, facilitating the integration of multiple sensors into a single system [35]

Core Viewpoint - The article discusses the significant policy boost for the autonomous driving sector in Shanghai, highlighting the "Mosu Zhixing" action plan aimed at accelerating the transformation of autonomous driving technology into industrial competitiveness [1][2]. Group 1: Action Plan Overview - The "Mosu Zhixing" action plan outlines a strategy based on "model-driven leadership, application demonstration, industrial collaboration, and policy support" to promote innovation in autonomous driving technology [2]. - The plan includes nine key tasks across three main areas: promoting the application of autonomous driving equipment, enhancing data monitoring platforms, and expanding open areas for autonomous driving [2][3]. Group 2: Goals and Targets - By 2027, the plan aims for large-scale implementation of high-level autonomous driving scenarios, with public service platforms supporting industry innovation and achieving international leadership in key technologies and industrial scale [3]. - The plan targets over 6 million passenger trips and more than 80,000 TEU in cargo transport through L4-level autonomous driving technology in smart public transport, taxis, and heavy trucks [5]. Group 3: Infrastructure and Ecosystem Development - The action plan emphasizes the establishment of a digital twin training ground for autonomous driving and aims to create a comprehensive industrial ecosystem covering vehicles, components, data, maps, safety, and services [5][9]. - It proposes to expand the autonomous driving open area to 2,000 square kilometers, with over 5,000 kilometers of roads featuring diverse types and scenarios [5]. Group 4: Financial and Innovation Support - The plan encourages social capital investment in smart connected vehicles and key component startups, supporting quality enterprises in accessing multi-tiered capital markets [5]. - It also highlights the need for innovative insurance products that align with the advancements in autonomous driving technology [5][7]. Group 5: Industry Collaboration and Technology Development - The action plan calls for deepening commercial vehicle demonstration scenarios and advancing the operational model from "platooning with human oversight" to "fully unmanned" operations [7]. - It aims to foster collaboration between universities, research institutions, and key enterprises to accelerate the industrial application of cutting-edge technologies like autonomous driving models [9].

Core Insights - Shanghai aims to establish itself as a global leader in high-level autonomous driving by 2027, with significant advancements in technology and industry competitiveness [1][4]. Group 1: Action Plan Overview - The "Mosu Zhixing" action plan outlines a strategy for accelerating the transformation of autonomous driving technology into industrial competitiveness, focusing on model-driven leadership and policy support [1]. - By 2027, the plan targets the large-scale application of L4 autonomous driving in public transport and logistics, with over 600 million passenger trips and 80,000 TEU in cargo transport [1]. Group 2: Expansion of Testing Areas - The plan includes the gradual expansion of autonomous driving testing areas, with a focus on the full opening of the Pudong New Area and other regions like Fengxian and Minhang [2]. - As of December last year, Shanghai has opened approximately one-third of its urban area for autonomous driving testing, with a new platform for real-time traffic signal data to support development [2]. Group 3: Infrastructure and Application Scenarios - By December 2025, Shanghai aims to have 3,173 open testing roads covering 5,238.82 kilometers, facilitating a comprehensive testing environment for autonomous vehicles [3]. - The action plan encourages the organization of smart taxi operations and the trial of L3 autonomous passenger vehicles, as well as the transition of intelligent heavy trucks from semi-autonomous to fully autonomous operations [3]. Group 4: Automotive Industry Development - The plan emphasizes the creation of a world-class automotive industry cluster, focusing on regions like Pudong, Jiading, and Lingang, and promoting the development of key components and software for smart connected vehicles [4]. - It aims to foster innovation in automotive technology, including high-performance chips and operating systems, while supporting the growth of specialized and competitive enterprises [4]. Group 5: Financial Support and Market Growth - The action plan encourages investment in smart connected vehicles and key component startups, promoting diverse financing channels for enterprise development [5]. - By 2024, Shanghai's automotive industry is projected to reach a production value of 703.5 billion yuan, with a cumulative promotion of 1.645 million new energy vehicles, maintaining its position as a global leader [5].

Core Viewpoint - Caocao Travel (02643.HK) has announced its first major acquisition post-IPO, acquiring Geely's Yao Travel and Zhejiang Geely Business Services for a total of 290 million RMB in cash [1][2]. Group 1: Acquisition Details - The acquisition includes 100% of Yao Travel for 225 million RMB and all shares of Geely Business Services for 65 million RMB [6]. - Yao Travel focuses on high-end business travel and is a luxury travel brand launched by Mercedes-Benz and Geely, while Geely Business Services provides corporate travel management solutions [2][6]. - Following the acquisition, Mercedes-Benz will completely exit its equity structure in Yao Travel [2]. Group 2: Financial Performance - Caocao Travel reported a revenue of 9.456 billion RMB for the first half of 2025, a year-on-year increase of 53.5%, but incurred a loss of 495 million RMB, although the loss is narrowing [4]. - Yao Travel is projected to incur a cumulative after-tax loss of over 115 million RMB for 2023 and 2024 [6]. - Geely Business Services is expected to see a significant profit decline of 47.87% in 2024 compared to 2023, with an estimated after-tax profit of 23.3 million RMB [8]. Group 3: Strategic Direction - The acquisition signals Caocao Travel's commitment to expanding its B2B business travel segment, aiming to create a comprehensive "one-stop technology travel platform" [4]. - The company aims to achieve threefold synergy through the integration of the two acquired entities, enhancing product offerings and client conversion [8]. - The business travel market in China is projected to exceed 3.5 trillion RMB in 2025, with a compound annual growth rate of over 11% [9]. Group 4: Market Position and Challenges - Despite being among the top three ride-hailing platforms in China, Caocao Travel holds only 5-6% of the market share, with over 50% controlled by Didi [11]. - The company faces significant reliance on external aggregation platforms for traffic, with commission payments to these platforms rising from 3.2 billion RMB in 2022 to 10.4 billion RMB in 2024 [12]. - The increasing commission fees paid to aggregation platforms have raised concerns about the company's bargaining power and profitability [13]. Group 5: Future Prospects in Autonomous Driving - Caocao Travel is positioning autonomous driving as a long-term strategic focus, with plans to establish five operational centers globally and achieve a transaction volume of 100 billion RMB over the next decade [15][16]. - The global autonomous vehicle market is expected to grow significantly, with a projected market size of 15.23 billion USD by 2026 [15]. - The company is leveraging Geely's comprehensive support across various dimensions, including vehicle costs and technology, to build a competitive edge in the autonomous driving sector [17].

2026年开年，全球自动驾驶领域在技术验证与商业化探索上继续前行。我国首批L3级有条件自动驾驶 车型的准入许可，特斯拉将在二季度启动无方向盘、无踏板车型量产的计划，以及Waymo持续扩张无 人出租车服务网络，标志着自动驾驶的竞争重点，正从攻克"能否实现"的技术挑战，转向如何构建一个 可盈利、安全且被广泛接受的生态系统。 近日，麦肯锡未来移动中心发布了第三版自动驾驶行业领导者调查报告。这份基于全球行业专家洞察的 报告揭示了一个关键趋势：在经历了早期狂热之后，自动驾驶行业正褪去光环，进入一个更加务实、理 性且充满复杂挑战的新发展阶段。 时间表普遍延后：商业化预期趋于保守 报告最直观的发现是，行业对自动驾驶普及速度的预期显著回调。与2023年预测相比，2025年度调查报 告将大多数自动驾驶应用场景的普及时间表平均推迟1-2年。尽管中美部分城市已开通L4级无人驾驶出 租车服务，但全球性大规模商业化推广的预期节点还是从2029年推迟至2030年。面向私人乘用车的L4 级城市试点预计将从2030年推迟至2032年，而完全自动驾驶卡车的商业可行性也从2031年延后至2032 年。总体而言，专家认为L4级自动驾驶将首先在出租 ...

Core Viewpoint - The launch of the "Wenyan Travel" mini-program marks a significant step for Robotaxi service provider, Wenyan Zhixing, in making autonomous driving more accessible to users through WeChat integration [1] Group 1: Service Launch - On January 14, the "Wenyan Travel" mini-program was officially launched, allowing users to call Wenyan Zhixing's Robotaxi service without downloading a separate app [1] - The service is currently available in operational areas such as Guangzhou and Beijing, enhancing user convenience [1] Group 2: User Experience - The transition from a standalone app to a WeChat mini-program aims to provide a more flexible and convenient way for users to experience autonomous driving services [1] - By leveraging WeChat's large user base and frequent usage, the mini-program is expected to lower the barriers for users to experience Robotaxi services [1] Group 3: Technology Trust - The "Wenyan Travel" mini-program is designed to improve user awareness and trust in Wenyan Zhixing's autonomous driving technology [1]

Group 1 - Qizhou Zhihang is a leading provider of advanced driver-assistance systems (ADAS) in China, with nearly one million units deployed, maintaining a strong market share in the NOA segment of the passenger car market [1] - The ADAMAS product from Jishi is set to launch in China by the end of 2025, having already been introduced in five Middle Eastern countries, with a price exceeding $80,000 and monthly orders surpassing 2,000 units [3] - The collaboration between Jishi and Qizhou Zhihang allows for significant reductions in R&D costs and deployment timelines for overseas models, leveraging proven technology validated by nearly one million domestic users [4] Group 2 - The ADAMAS model features L2+ level intelligent driving capabilities as standard, covering essential driving scenarios such as highways, urban areas, and parking, marking a significant advancement in smart mobility technology [3] - Jishi has successfully entered over 40 international markets, establishing a sales network across key regions including the Middle East, Central Asia, and North Africa, with a consistent sales growth over the past 12 months [3] - The partnership is a strategic win-win for both companies, enabling rapid adaptation to local consumer demands for advanced driving features in overseas markets [4]