Core Viewpoint - Horizon Robotics-W (09660) has seen a significant increase in stock price, rising over 6% in the afternoon trading session, attributed to a strategic partnership with autonomous driving company Carl Power to develop logistics automation solutions [1] Group 1: Strategic Partnership - Horizon Robotics and Carl Power have announced a comprehensive strategic cooperation to create efficient, safe, and scalable autonomous driving solutions for trunk logistics [1] - The collaboration will leverage deep integration of data and scenarios to enhance the development of a robust Level 4 (L4) autonomous freight system [1] - The partnership aims to accelerate the technological and commercial rollout of L4 autonomous heavy trucks [1] Group 2: Financial Outlook - Citi has raised its estimate for Horizon's R&D spending for 2026-2027 by nearly 1 billion RMB [1] - The firm believes that the current stock price of Horizon reflects all negative factors, indicating greater upside potential [1] - Key catalysts expected in the coming months include customer certifications for the J6P model and adoption of the HSD600 by leading domestic vehicle manufacturers [1]

Core Insights - Horizon's HSD (Horizon SuperDrive) has achieved significant upgrades, marking a milestone with over 10 million units produced in the Journey family [1][8] - The HSD system features a one-stage end-to-end architecture combined with reinforcement learning, enhancing driving safety, efficiency, and user experience [2][3] Group 1: HSD System Features - The HSD system utilizes a one-stage end-to-end architecture, which reduces response delays and improves information transmission, leading to a more human-like driving experience [2][3] - The introduction of reinforcement learning allows the HSD system to self-explore and interact within its world model, enhancing its scene understanding and reasoning capabilities [3][7] Group 2: Performance and User Experience - During real-world testing, the HSD demonstrated low system latency, strong defensive driving capabilities, and seamless control, significantly improving the user experience [6] - The system can quickly adapt to unexpected scenarios, such as construction zones or sudden lane changes, showcasing its advanced scene recognition and decision-making abilities [6][7] Group 3: Market Launch and Production Goals - The star model, the ET5, equipped with the Horizon HSD, is set to launch in November 2025, integrating the latest urban driving assistance technology [8] - Horizon plans to accelerate the commercialization of HSD, aiming for large-scale production by the end of this year, with partnerships established with over 10 global automotive brands [8]

Core Insights - The article highlights the launch of KargoBot Space, the world's first future transport robot by the company, which aims to revolutionize logistics by significantly increasing profit margins and addressing industry challenges [1][4][22] Group 1: Product Launch and Features - KargoBot Space is designed to enhance single vehicle profit margins by five times, with a price starting at 250,000 yuan plus an annual service fee of 50,000 yuan [1][18] - The robot features a unique design that eliminates the driver's cabin, increasing cargo space by 25% and effective load capacity by 10% [8][11] - It incorporates advanced safety features, including a high-interaction smart lighting system that communicates with surrounding vehicles and pedestrians [8][11] Group 2: Technological Innovations - KargoBot Space is equipped with 32 sensors, including the industry-first Hesai AT1440 ultra-high-definition lidar, providing a 360-degree perception network [11][12] - The robot utilizes the Horizon Journey 6P computing platform, which offers high performance and low latency for autonomous driving tasks [11][12] - The battery system can achieve a maximum capacity of 1026 kWh, allowing for a single charge range of over 800 kilometers [12][14] Group 3: Strategic Partnerships and Market Potential - The company has formed strategic partnerships with several industry leaders, including Horizon, Hesai Technology, and CATL, to enhance its technological capabilities and market reach [21][22] - The logistics market in China exceeds 6 trillion yuan, with the potential value created through autonomous driving and unmanned technology estimated at 1.5 trillion yuan [4][22] - The company aims to capture a 1% market share in the global logistics market, which is valued at 60 trillion yuan, and to save 20% in costs, creating significant value [22] Group 4: Future Plans and Ecosystem Development - The company plans to mass-produce models for bulk freight and express delivery by 2027, expanding its product offerings to cover various logistics scenarios [18][20] - The open-source approach to the KargoBot Neutron autonomous driving system aims to foster collaboration and innovation within the industry [17][20] - The company envisions building a comprehensive ecosystem for smart transportation, leveraging its partnerships to create a national network for electric vehicle battery swapping [21][22]