虎嗅注 在L4级自动驾驶的宏大叙事里，Robotaxi一度是皇冠上最耀眼的明珠。无数资本与人才涌入 其中，试图攻克"载人"这个终极场景。然而，技术的瓶颈、商业化的缓慢、相关风险的影 响，使得这条路进程缓慢。 或许在意料之外，无人配送这条"载物"的土路，被跑了出来。在撞开商业化的大门之后，吸 引了众多资本与企业的下场。 这波风口的背后，真正的游戏规则是什么？水面之下，又存在何等暗流漩涡？ 2025年9月，浙江桐庐生产基地内，新石器无人车第10000台整车正式下线。这一里程碑事件不仅让 新石器公司振奋，更标志着无人配送车行业迈入一个关键新阶段——AI技术实现大规模应用、有效 商业模式落地，成为L4级自动驾驶及具身智能领域中，首个达成大规模商业化且实现正向盈利的赛 道。 风口之下，行业吸引力持续攀升。仅在刚刚过去的9月，德赛西威、佑驾创新两家上市公司便先后发 布新品，正式进军无人配送车市场；更有消息称，多家实力更强的企业正"厉兵秣马"，计划入局分食 市场红利。不过，以国内新能源汽车十余年发展历程来看，"赛道热"不代表"全员赢"，多数玩家或沦 为"陪跑者"，而企业能否立足，核心比拼的仍是产业"认知"和洞察。 题图｜视 ...

Core Viewpoint - The unmanned delivery vehicle industry is experiencing significant growth driven by user demand, technological advancements, and a shift towards commercial viability, with major companies securing substantial funding and setting ambitious delivery targets [3][4][5]. Group 1: Industry Growth and Funding - The unmanned delivery vehicle sector has attracted over 3.5 billion yuan in funding this year, with companies like New Stone, Nine Senses, and White Rhino leading the charge [4]. - The number of unmanned delivery vehicles in China has just surpassed 6,000 units, with companies aiming to deliver 10,000 units by the end of the year [4][5]. - New Stone has announced the delivery of its 10,000th vehicle, establishing the world's first fleet of this scale [4]. Group 2: Product Development and Market Expansion - Unmanned delivery vehicles are evolving from small models to larger ones with capacities exceeding 5 cubic meters, suitable for fixed-route transportation [5][6]. - The market is expanding beyond the express delivery sector to include instant logistics and urban delivery for fresh produce and pharmaceuticals [6]. - Companies are focusing on standardizing products and defining clear market segments, which is essential for large-scale commercial deployment [6][8]. Group 3: Cost Reduction and Quality Improvement - Companies are adopting automotive-grade quality standards to enhance product durability and reduce operational costs [8][9]. - The cost of unmanned delivery vehicles is decreasing due to advancements in passenger vehicle technology, with high-level driving assistance systems becoming more affordable [9][10]. - New Stone has reduced the number of sensors in its vehicles to cut costs, while other companies are also optimizing their technology to improve efficiency [10]. Group 4: Business Models and Market Strategy - The industry is exploring two primary business models: vehicle sales or leasing and customized development for large clients [11]. - Companies are targeting small and scattered clients to diversify their customer base and reduce dependency on large clients [11][12]. - Competitive pricing strategies are being implemented to lower entry barriers for customers, with some vehicles priced below 150,000 yuan including maintenance [12]. Group 5: Operational Efficiency and Challenges - Operational efficiency is critical for profitability, with companies needing to optimize deployment and maintenance processes [13]. - The cost of operating unmanned delivery vehicles can be significantly reduced through economies of scale, with costs increasing only slightly when scaling from 10 to 100 vehicles in a city [13]. - Regulatory challenges remain, as the legal status of unmanned delivery vehicles is still being defined, impacting their ability to operate at scale [15][16].

9月2日，聚焦于智能座舱、智能驾驶和网联服务的德赛西威宣布"川行致远"品牌正式成立，车规级S6飞翼款、S6侧拉门款低速无人车公开亮相。德赛西威计 划开辟以低速无人车为核心的第二战场，让新产品驶入园区、楼宇、商圈，解决"最后一公里"的痛点。 在头部企业与跨界玩家纷纷发力布局的背景下，作为赛道内典型的创新型代表，新石器又亮出了自己的市场策略。 进入2025年，无人配送市场一片火爆，是一片潜力巨大的蓝海。 这个赛道里，有大厂平台型（比如京东、菜鸟）、创新型（比如新石器、九识、白犀牛）、有观望者、也有跨界者。 据《证券日报》9月3日报道，新石器针对旗下主力车型X3、X6货厢车，正式推出"零首付、零利息、48期分期"购车方案，同时重磅宣布两车搭载的FSD （完全自动驾驶）服务可享终身免费使用与升级权益。 一石激起千层浪，这一策略让竞争白热化的无人配送车更添"火药味"，是否会来一波无人配送车的价格战？ 一、价格战早已开启 其实，无人配送车的价格下跌早已不是新鲜事。 从交付能力来看，截至7月底，新石器无人车已部署超过7500台，余恩源称年底实现1万辆的部署目标；九识，已交付5000台无人物流车；白犀牛，预计到 2026年， ...

Core Viewpoint - The article highlights the significant price reductions in the autonomous delivery vehicle market, which have made these vehicles more attractive to logistics companies, leading to rapid adoption and increased orders from manufacturers [2][3][11]. Price Reduction and Market Dynamics - Multiple manufacturers have lowered prices or offered favorable policies, prompting logistics companies to shift from high-priced purchases to bulk buying at lower prices [3]. - A notable example includes New Stone's announcement of a "zero down payment, zero interest, 48-month installment" plan for its main models, X3 and X6 [3][6]. - The price of autonomous vehicles has dropped significantly, with one logistics operator recalling a purchase cost of around 200,000 yuan in early 2024, which has now decreased to approximately 100,000 yuan [5]. Adoption and Usage Statistics - As of now, autonomous vehicles have been deployed in over 200 cities and more than 700 logistics points, with over 2,000 vehicles completing 200,000 deliveries daily [9]. - The total delivery volume of autonomous vehicles is expected to reach around 15,000 units by July 2025, with over 60% of this volume coming from the rapid price drop in the second quarter of 2025 [8]. Financing and Investment Trends - The price war among manufacturers is driven by significant capital inflows, with major companies like New Stone and Nine Knowledge securing substantial funding in 2024 and 2025 [12]. - The competitive landscape is characterized by a focus on scaling operations to gather more data and improve product iterations, which is essential for long-term success in the industry [12]. Cost Efficiency and Operational Impact - The cost of operating an autonomous vehicle has become more favorable, with daily operational costs estimated at around 70 yuan, significantly lower than traditional human delivery methods [17]. - The logistics industry is increasingly adopting autonomous vehicles not only due to price reductions but also due to a growing labor shortage and the maturity of autonomous driving technology [17]. Product Configuration and Market Segmentation - There is a noticeable shift in product configurations, with manufacturers reducing material quality to lower costs, which some operators view as a necessary adjustment to meet current market demands [18]. - The market is becoming segmented, with low-end customers being price-sensitive and middle to high-end customers focusing on efficiency, stability, and reliable service support [18].

Core Viewpoint - Jiushi Intelligent, a rising star in the unmanned delivery vehicle sector, is currently embroiled in intellectual property disputes and a crisis of safety trust, raising questions about its rapid growth and the underlying industry competition and technological innovation risks [1][10]. Group 1: Intellectual Property Issues - JD.com has reported Jiushi Intelligent to the police for allegedly infringing on its intellectual property rights, claiming to have substantial evidence of infringement [3][9]. - Jiushi Intelligent's founding team consists of former key members from JD Logistics, leading to suspicions of premeditated entrepreneurship and potential "technology migration" [4][17]. - The rapid patent application process by Jiushi Intelligent, particularly for technologies developed by former JD employees, has raised concerns about the legitimacy of its innovations [5][8]. Group 2: Technological Development and Safety Concerns - Jiushi Intelligent has achieved significant milestones, including the launch of multiple models and the delivery of over 3,000 units within two and a half years, which is considered unusually fast for the industry [6][10]. - The company has faced multiple traffic accidents involving its unmanned vehicles, leading to public skepticism regarding the reliability and safety of its technology [11][14]. - The incidents highlight potential deficiencies in obstacle recognition and response mechanisms, contradicting Jiushi Intelligent's claims of being a leader in L4 autonomous driving technology [11][14]. Group 3: Market Position and Future Prospects - Jiushi Intelligent has attracted significant investment, completing nearly $300 million in funding rounds, indicating strong market interest despite ongoing legal challenges [10][15]. - The company plans to launch an IPO in Hong Kong, but unresolved intellectual property disputes with JD.com could jeopardize this process and raise concerns among potential investors [15][16]. - The competitive landscape in the unmanned delivery vehicle market is intensifying, with companies needing to balance rapid growth with technological maturity and safety compliance [14][16].

Group 1 - The core viewpoint highlights the emergence of unicorn companies in Jiangsu, which are driven by technological innovation and high-level talent, becoming a new engine for regional economic growth [1][2] - In the first half of 2025, Jiangsu had 33 companies listed as unicorns, accounting for nearly 10% of the national total, covering sectors such as new energy, biotechnology, and artificial intelligence [1] - Suzhou leads the province with 12 unicorns, particularly in artificial intelligence, while Nanjing and Changzhou also show strong representation in software, hardware, and new energy sectors [1][2] Group 2 - The financial technology, software services, and AI sectors are witnessing rapid growth among new unicorns, with 2023 being termed the "empowerment year" for AI integration into industries [2] - Jiangsu's unicorns are forming a "symbiotic cluster," with advancements in various fields such as new energy, semiconductors, and artificial intelligence, enhancing the sustainability of new economic drivers [2] - The government is focusing on enhancing core competitiveness by encouraging increased R&D investment and collaboration between enterprises and universities in cutting-edge technologies [3] Group 3 - Jiangsu has introduced policies to accelerate the cultivation of unicorn and gazelle companies, including financial incentives and support for R&D tasks [4] - By 2027, Jiangsu aims to develop 80 unicorn companies and establish 20 new leading technology tracks in high-tech zones, reinforcing its position in global technology competition [4] - The implementation of these measures is expected to reshape the industrial landscape and contribute significantly to Jiangsu's high-quality economic development [4]

Core Viewpoint - The rapid deployment of autonomous delivery vehicles, particularly by Jiushi Intelligent, has been marred by a series of traffic accidents, raising concerns about safety and the pace of technological advancement in the industry [1][2][3]. Group 1: Company Overview - Jiushi Intelligent, established in August 2021, claims to have developed L4-level autonomous driving technology suitable for commercial applications [1][6]. - The company has quickly iterated five models of smart urban delivery vehicles within two years, setting a record for the speed of commercialization in the industry [2][14]. - The founding team of Jiushi Intelligent includes former key members from JD Logistics, indicating a strong background in autonomous vehicle technology [6][8]. Group 2: Recent Incidents - A series of accidents involving Jiushi Intelligent's delivery vehicles have occurred, including a rear-end collision and an incident where a vehicle dragged an electric bike [3][4]. - The company has attributed these incidents to operational errors during remote control and challenges in recognizing deformed obstacles [3][4]. - Despite no injuries reported, these events have sparked significant safety concerns regarding the deployment of autonomous delivery vehicles [1][3]. Group 3: Industry Context - The logistics sector's "last mile" delivery is considered the most costly, making it a prime target for autonomous vehicle applications [4]. - As of 2024, over 6,000 autonomous delivery vehicles have been deployed across various scenarios, significantly increasing daily delivery volumes [4][12]. - The industry is witnessing a trend of shortened development cycles for autonomous delivery vehicles, with many companies achieving commercialization within a year [12][14]. Group 4: Challenges and Considerations - Experts highlight that the large-scale rollout of autonomous delivery vehicles faces challenges such as market entry, cost, safety, and collaboration with logistics companies [5]. - Legal experts emphasize the complexity of assigning liability in traffic accidents involving autonomous vehicles, considering factors like technology performance and operational management [5][16]. - The rapid development and deployment of Jiushi Intelligent's vehicles have raised questions about intellectual property rights and potential infringement issues due to the backgrounds of its founding team [15][18].

Core Insights - The autonomous delivery vehicle industry is experiencing rapid growth, with a development speed ten times that of the previous year [1] - New Stone's monthly delivery volume exceeds 1,000 units, with expectations to surpass 2,000 units per month from Q2 to Q3 [1] - In April, the monthly delivery volume exceeded the total for the entire year of 2024 [1]

Group 1 - The unmanned delivery vehicle industry is expected to experience explosive growth in 2025, with a development speed reaching ten times that of the previous year [1] - The company, New Stone, is currently delivering over 1,000 unmanned vehicles per month, with expectations to exceed 2,000 units per month between Q2 and Q3, and April's delivery surpassing the total for the entire year of 2024 [1][3] - The application scenarios for unmanned delivery vehicles have expanded from densely populated urban areas to rural regions, with operational ranges extending from non-motor vehicle lanes to motor vehicle lanes [3] Group 2 - New Stone has developed various vehicle models, including 3 cubic meter small vehicles and 6 cubic meter medium vehicles, with larger capacity models currently in development [3] - The delivery distance has significantly increased, with routes of 70 to 80 kilometers now common, breaking the previous limitation of around 3 kilometers [3] - The core mission of the logistics industry is cost reduction and efficiency improvement, which New Stone aims to achieve through visual technology and algorithms [3] Group 3 - The company plans to implement a no-map technology based on visual algorithms in the second half of this year, expanding application scenarios from planned logistics in the express delivery sector to real-time logistics similar to ride-hailing services [3] - By the end of this year, New Stone expects to deploy 4,000 to 5,000 unmanned vehicles in scenarios outside of express delivery, primarily for real-time logistics scheduling [3] - The competition in the industry is just beginning, with major players like Meituan, JD.com, and Alibaba entering the market, emphasizing the need for competition to build an efficient ecosystem [3] Group 4 - The logistics industry inherently seeks cost optimization, and unmanned delivery vehicles must prioritize cost reduction as their core mission [3] - New Stone aims to release value in more scenarios, including express delivery, industrial clusters, and rural areas, ultimately achieving global scale operations [3]