（原标题：小马智行开始收费了） 今年第一季度，小马智行从Robotaxi乘客那里收到了超过1200万元人民币的现金。这部分业务在过去一 年几乎不存在，如今，它是推动公司整体收入同比增长的主要来源。 它正在发生的转变是：从一个展示前沿自动驾驶技术的工程样本，变成一项开始对接真实用户、开始收 费的出行服务。 2025年，或是小马智行的"放量之年"。这个"量"不只是指部署的Robotaxi数量——目标是年底突破千 辆，更是一个商业化加速的信号。技术、牌照、平台接入、用户运营、海外扩展都开始被并行推进，而 财报数字，第一次给出了验证这些变化的抓手。 从"打表"开始的商业模型 2025年第一季度，小马智行总营收达1.398亿美元，同比增长12%。Robotaxi业务的营收为173万美元， 同比增长200%，其中乘客打车付费的部分增长接近800%。这项业务在去年同期仅为57万美元。 在收入结构中，Robotaxi还不是最大一块，但它是变化最快的一块。相比之下，Robotruck服务收入为 778万美元，同比增长4%；来自自动驾驶系统授权和控制器等硬件交付的Licensing业务收入为447万美 元，基本持平。 这一季度， ...

Core Viewpoint - A study indicates that if autonomous vehicles can respond to emergencies more like humans, it could significantly reduce injuries in traffic accidents and enhance safety [1][2]. Group 1: Research Findings - The study published in the Proceedings of the National Academy of Sciences highlights that employing a "social sensitivity" strategy in autonomous vehicles can better protect vulnerable groups such as cyclists, pedestrians, and motorcyclists [1]. - The research shows that integrating human-like decision-making into autonomous systems can lower overall risk for all road users by 26.3% and reduce risk for vulnerable users by 22.9% compared to using the EthicalPlanner alone [2]. - In collision scenarios, the model can decrease overall harm to road participants by 17.6%, with a significant 51.7% reduction in harm to vulnerable groups, and an 8.3% decrease in injuries to vehicle occupants [2]. Group 2: Ethical Considerations - The ethical implications of autonomous driving have garnered attention, with calls for programming that ensures fair risk distribution and protection of basic rights for vulnerable road users [3]. - The research addresses the critical question of how to construct behavior models for autonomous vehicles that are both safe and socially sensitive, providing a viable path for navigating complex traffic situations [3].

Group 1 - Waymo has achieved 10 million rides, doubling in the past five months, with services available in Austin, Los Angeles, San Francisco, and Phoenix [1] - Waymo provides over 250,000 paid autonomous taxi services weekly, and has received approval to expand its services in the San Francisco Bay Area, including San Jose [1] - Despite the growth, Waymo has not yet achieved profitability, with the parent company Alphabet reporting a 9% decline in revenue for its "Other Bets" segment and an increase in operating losses [1] Group 2 - Tesla plans to launch its autonomous taxi service in Austin, with future expansions to Los Angeles and San Francisco, claiming a more ambitious strategy compared to Waymo [2] - Tesla's approach relies on camera-based systems and computer vision rather than complex sensors like LiDAR [2] - Waymo emphasizes safety as its primary focus, stating that it has been operating its service for nearly five years with a commitment to safety over cost [3]

小马智行发布最新一季度财报，Robotaxi业务成最大亮点。 5月20日，小马智行发布2025年第一季度财报显示，一季度总营收为1400万美元（约合人民币1.02亿元），同比增长12%。这主要得益于Robotaxi服务的 增长。今年第一季度，其Robotaxi业务收入173万美元，同比增长200%。 在小马智行CEO彭军看来，2025年是小马智行的Robotaxi量产之年，随着第七代Robotaxi的自动驾驶系统成本下降，再加上生产提速，2025年底Robotaxi车 队规模将扩大到千台。 其中，2022-2023年技术授权与应用服务营收占比超50%；2022年开始，得益于与中国外运合资公司青骓物流车队规模扩大，以及运营里程增加驱动运输 服务费提升，Robotruck业务收入提升明显，在当下营收占比最高。 | | Three Months Ended | | | --- | --- | --- | | | March 31, | March 31, | | | 2024 | 2025 | | Revenues: | | | | Robotaxi services | 576 | 1,730 | | Robot ...

每经记者｜宋欣悦 每经编辑｜高涵 ｜2025年5月21日星期三｜ NO.1 每月1800元，谷歌发布AI全家桶Google AI Ultra 当地时间5月20日，谷歌在"I/O 2025"全球开发者大会上发布了AI全家桶——Google AI Ultra。Google AI Ultra整合了目前谷歌最好的模型、各种高级功能以及30T的云存储。有如此强的功能，收费方面每月 249.99美元（约合人民币1809元）。通过AI Ultra，用户能体验到最高版本的Gemini应用，该应用在深 度研究领域设置了最高使用权限，支持使用Veo 2进行视频生成，还能让用户提前使用突破性的Veo 3模 型。此外，在未来几周内，AI Ultra订阅用户将能够使用Deep Think 2.5 Pro这一全新增强推理模式。 点评：Google AI Ultra的发布，是谷歌在人工智能领域持续发力的重要体现，有望为不同行业的专业人 士提供更为强大、高效的AI解决方案，在竞争激烈的AI市场中抢占更多份额。 NO.2 马斯克称仍致力于执掌特斯拉 据央视新闻，当地时间5月20日，美国企业家埃隆·马斯克称仍致力于在五年内担任特斯拉首席执行官， ...

Market Overview - US stock indices experienced fluctuations and closed lower, with the Dow Jones down 0.27%, Nasdaq down 0.38%, and S&P 500 down 0.39% [1] - The VIX index decreased by 0.28% to 18.09, while the US dollar index fell by 0.35% to 100.02 [1] - The yield on the US 10-year Treasury rose by 0.809% to 4.487%, with a spread of 51.5 basis points over the 2-year Treasury yield [1] - Spot gold increased by 1.84% to $3289.54 per ounce, and Brent crude oil rose by 0.11% to $65.6 [1] Industry & Stocks - Most sectors in the S&P 500 declined, except for consumer staples, utilities, and healthcare, which rose by 0.35%, 0.29%, and 0.25% respectively [2] - Chinese concept stocks showed mixed results, with KWEB down 0.09%, while Alibaba rose by 1.79% and JD.com increased by 0.77% [2] - Major tech stocks mostly fell, with Microsoft down 0.15%, Nvidia down 0.88%, and Apple down 0.92% [3] - Tesla saw a slight increase of 0.51%, with Elon Musk committing to remain CEO for the next five years [3][5] Daily Focus - Pony.ai reported Q1 2025 earnings with total revenue of 102 million yuan, a 12% year-on-year increase, and Robotaxi revenue of 12.3 million yuan, up 200% [4] - The Robotaxi passenger fare revenue surged by 800% year-on-year, with plans to scale the fleet to 1,000 vehicles by the end of 2025 [4] - Nvidia's CEO stated that the US chip export restrictions to China could result in a loss of $15 billion in sales [10]

5月20日，自动驾驶企业小马智行（NASDAQ：PONY）发布未经审计的2025年第一季度财报。财报显 示，小马智行在保持营收增长同时，仍然没能实现盈利，但公司Robotaxi业务则继续保持高速扩张。 营收保持稳定 财报数据显示，公司第一季度的总营收为1.02亿元（1398万美元），同比增长12%。据公司透露，营收 保持稳定增长源于增收和降本，以及核心业务Robotaxi的规模量产。 其中，Robotaxi业务收入是一季度营收保持同比增长的主要原因。财报数据显示，一季度Robotaxi业务 收入达1230万元（173万美元），同比增长200%。 Robotaxi业务收入主要来源为两类：乘客车费收入和技术解决方案项目收入。一季度乘客车费收入增幅 明显，同比增长800%。这一方面得益于小马智行在一线城市付费Robotaxi服务的拓展：目前，小马智行 Robotaxi商业化运营覆盖北上广深等地，总面积超2000平方公里，几乎是美国旧金山城市面积的20倍， 覆盖了中心城区、机场和高铁站等关键交通枢纽；另一方面得益于针对不同用户群体的精细化运营策 略，一季度注册用户数量环比增长超20%。 在推动Robotaxi规模化量 ...

Core Insights - WeRide (文远知行) is a leading autonomous driving technology company, operating in 30 cities across 7 countries, and has been in operation for over 1,600 days [1][2] - The company reported a total revenue of 361 million RMB for the year ending December 31, 2024, a decrease of 10.13% year-on-year, and a net loss of 2.517 billion RMB, down 29.13% year-on-year [1] - WeRide is set to release its Q1 2025 financial report on May 21, 2023 [1] Company Overview - WeRide was established in 2017 and is registered in the Cayman Islands, with its operations managed through domestic subsidiaries [1] - The company has developed a product matrix that includes Robotaxi, Robobus, Robovan, Robosweeper, and Advanced Driving Solutions, covering various applications such as smart mobility, smart freight, and smart sanitation [2] - WeRide has formed strategic partnerships with top global manufacturers and suppliers, including Renault-Nissan-Mitsubishi Alliance, Yutong Group, GAC Group, and Bosch [2] Industry Recognition - In 2023, WeRide was ranked eighth on Fortune's list of companies changing the world, making it the only Chinese company in the top ten [2]

5月20日，自动驾驶企业小马智行发布了2025年第一季度财报。 同期，小马智行的毛利润为230万美元（约合人民币1670万元），较2024年同期的260万美元下降 11.5%；毛利率从21.0%下降至16.6%。小马智行表示，毛利率下降的核心原因在于ADC（自动驾驶域控 制器）的销售占比提升。 核心业务Robotaxi的大幅增长是小马智行一季度营收增长的主要原因。据悉，Robotaxi业务收入主要由 两类：乘客车费收入和技术解决方案项目收入。 其中，第一季度乘客收入同比增速达到了800%。小马智行透露，目前，Robotaxi商业化运营扩展至北上 广深等地，覆盖面积超2000平方公里，同时，一季度注册用户数量环比增长超20%。同时，小马智行也 在加码自己的生态圈建设，先后与腾讯云、Uber达成战略合作。 期内，小马智行的营收达到1398万美元（约合人民币1.02亿元），同比增长12%；其中，Robotaxi业务 收入为173万美元（约合人民币1230万元），同比增长200%；Robotruck业务收入为778万美元（约合人 民币5560万元）；技术授权与应用收入为450万美元（约合人民币3270万元）。 | | ...