Group 1 - The competition in the Robotaxi market is intense, with only three companies, Waymo, Pony.ai, and Baidu, meeting the standards for scale and automation, according to Pony.ai's CTO [4] - ByteDance's AI research team leader, Kong Tao, has left the company to start his own venture, indicating a shift in talent within the AI sector [14] - Xiaomi is set to launch its new SUV model, the YU7, with three versions and advanced features, highlighting its commitment to the automotive market [12][13] Group 2 - The semiconductor company, Chipone, has faced severe financial issues, including unpaid salaries and layoffs without compensation, raising concerns about its operational stability [8] - Intel is gradually shutting down its automotive business, focusing on its core client and data center products, which may impact its automotive clients [40] - The launch of Cao Cao Mobility on the Hong Kong Stock Exchange marks it as the largest tech mobility platform in Hong Kong, with a valuation of approximately 228 billion HKD [28][29] Group 3 - The ongoing layoffs at Microsoft’s Xbox division reflect a broader strategy to shift resources towards cloud services, indicating a significant restructuring within the company [41] - DJI is experiencing severe shortages of its drones in the U.S. market, leading to speculation about its future in that region, although the company remains committed to the market [22][23] - Ningde Times emphasizes overseas expansion as a priority amidst fierce competition in the domestic electric vehicle market, highlighting concerns over unhealthy competition [34][35]

关注 「电动车公社」 和我们一起重新思考汽车 2021年前后， 车端算力之争 正式拉开了序幕。 其"始作俑者"，就是大名鼎鼎 的 英伟达Orin-X 芯片 ：254TOPS的算力不仅吊打Mobileye Q5H芯片的24TOPS，甚至连特斯拉的HW3.0，也难以望其项 背。 英伟达卷算力的方式，也非常简单粗暴： 一颗不够上两颗，两颗不够上四颗。 于是就出现了蔚来 这种一口气装了 4 颗 Orin-X ，算力直超 1000TOPS的狠 货 。 在整整4年的时间里，主流车型的算力一直在80~1000TOPS之间徘徊。直到今年，车端算力之争 开启了 2.0 时代。 只不过，这次的主导者似乎变成了 自研芯片 的 新势力 ！ 率先突破算力天花板的，是去年12月上市的旗舰轿车蔚来ET9。 根据官方说法，自研的5nm 神玑 NX9031 芯片， 单颗 算力和4颗 Orin-X的量级相当，ET9上配备了2颗，有望把车端算力推上 2000TOPS ； 2025 年 6 月 9 日，小鹏 G7 亮相，顶配版搭载了3颗小鹏自研的 图灵 AI 芯片， 有效算力 飙升至 2200TOPS ，成了量产车算力的"新王"。 无独有偶，理想早 ...

摘要 ► 本 周数据： 2025年6月第1周（6.2-6.8）乘用车销量36.2万辆，同比+12.4%，环比-22.3%；新能源乘用车销量20.2万辆，同比+18.9%，环比-18.4%；新能源渗透率 55.7%，环比+2.6pct。 ► 本周行情 ： 汽车板块本周表现弱于市场 本周（6月9日-13日）A股汽车板块下跌0.37%，在申万子行业中排名第18位，表现弱于沪深300（+0.10%）。细分板块中，商用载货车、摩 托车及其他、商用载客车分别上涨9.38%、0.95%、0.56%，汽车服务、乘用车、汽车零部件分别下跌0.88%、0.99%、1.29%。 ► 本周观点： 本月建议关注核心组合【吉利汽车、比亚迪、小鹏汽车、小米集团、伯特利、拓普集团、新泉股份、沪光股份、春风动力】。 ► 多车企承诺降低账期 整零关系从零和博弈走向双赢 6月10日包括东风、广汽、一汽、赛力斯、长安、吉利等在内的多家车企就"将供应商账期统一至60天内"做出承诺。车企对供应商账期的缩短， 一方面是直接响应国务院6月1日实施的《保障中小企业款项支付条例》，该条例明确大型企业需在货物/服务交付后60日内付款；另一方面是车 企竞争维度升级 ...

Core Viewpoint - Xiaopeng Motors has launched its self-developed Turing chip in its new model, the Xiaopeng G7, which is positioned to enhance the company's capabilities in the competitive smart driving market [1][2]. Group 1: Product Launch and Specifications - The Xiaopeng G7 is available in two versions, Max and Ultra, with a pre-sale price of 235,800 yuan. The G7 Max features dual NVIDIA Orin-X chips with a computing power of approximately 500 Tops, while the G7 Ultra is equipped with three Turing chips [1]. - The effective computing power of one Turing chip is equivalent to three NVIDIA Orin-X chips or two Tesla FSD chips, with ongoing optimizations expected to enhance this capability further [1][2]. - The G7's total effective computing power exceeds 2,200 Tops, significantly surpassing industry standards and meeting the requirements for L3-level intelligent driving assistance [1]. Group 2: Chip Development and Strategy - Xiaopeng invested over 10 billion yuan and spent five years developing the Turing chip, which began with team formation in late 2020 and achieved successful functionality verification within 40 days last year [2][3]. - The company aims to improve the efficiency of computing power usage, distinguishing its self-developed chip from generic industry chips that may include unnecessary computational capabilities [3]. - The Turing chip is designed to support both intelligent driving and smart cockpit functionalities, marking a significant evolution in automotive AI capabilities [4][5]. Group 3: Market Positioning and Competition - The G7 is strategically positioned in the competitive 250,000 yuan SUV market, traditionally dominated by Tesla's Model Y, which sold over 100,000 units in China in the first five months of this year [8]. - Xiaopeng's G7 has already received over 10,000 orders within 46 minutes of its pre-sale launch, indicating strong market interest [8]. - The company acknowledges the challenges of competing in a market that prioritizes practicality and space over technological performance, suggesting that sustained growth will depend on market acceptance [9]. Group 4: Research and Development Investment - Xiaopeng plans to allocate approximately 4.5 billion yuan of its R&D budget this year towards AI development, with total R&D expenditures nearing 10 billion yuan [10]. - The company is confident in achieving profitability by the fourth quarter, supported by its high R&D investment and the successful launch of the G7 [10]. - Xiaopeng aims to establish a competitive edge in the AI automotive sector, emphasizing the importance of innovation and a unique development path [10].

要闻提示 NEWS REMIND 1. 比亚迪、长安等车企全部统一账期为60天，蔚小理还没跟！ 2.YU7外形被质疑抄袭，小米放设计稿称原创：专家放话百分之百不侵权 3.任正非：美国是夸大了华为的成绩，华为还没有这么厉害 4.智元研究院智能四足机器人"导盲犬"首秀：成功将盲人带到8楼 5.小鹏G7汽车全球首发图灵AI芯片，6月11日登场 6. 融资近百亿元，喜马拉雅12.6亿美元卖身腾讯音乐 7.TikTok重大调整，英国市场成为投资重点，将新增500多个工作岗位、新设办公室 8.寿命仅6个月！火狐Firefox浏览器官方AI助手扩展Orbit宣布6月26日停止服务 今日头条 HEADLINE NEWS 比亚迪、长安等车企全部统一账期为60天，蔚小理还没跟！ 6月10日晚，中国第一汽车集团有限公司、东风汽车集团有限公司、广州汽车集团股份有限公司、赛力斯 集团股份有限公司四家汽车生产企业陆续发表声明，就"支付账期不超过60天"作出承诺。 比亚迪和长安汽车也于11日凌晨先后宣布作出"支付账期不超过60天"的承诺。 据网络整理的各大汽车厂商账期情况，一夜之间，央企、大型民企均纷纷表态反内卷，但蔚小理等新势力 截至发 ...

Core Insights - Xiaopeng Motors reported a significant increase in April 2025 vehicle deliveries, with a total of 35,045 units delivered, representing a year-on-year growth of 273% and a month-on-month increase of 6% [1][2] - The company is enhancing its product lineup with the upgraded 2025 Xiaopeng X9 and P7+, which feature advanced configurations and technology, ensuring strong delivery capabilities moving forward [1][2] Delivery Performance - In April 2025, Xiaopeng Motors delivered 35,045 vehicles, marking a 273% increase year-on-year and a 6% increase month-on-month [1] - The Xiaopeng MONA M03 has achieved over 100,000 cumulative deliveries in just 8 months, while the P7+ has reached its 50,000th unit in 5 months [1] Product Development - The 2025 Xiaopeng X9 has been upgraded with new configurations, priced between 359,800 to 419,800 yuan, while the P7+ features a long-range Max flagship version equipped with advanced AI battery technology [1] - The company is set to mass-produce its Turing AI chip in Q2, enhancing its smart driving capabilities [1] Market Expansion - The 2025 Xiaopeng X9 received 6,000 orders within 7 days of its launch in mainland China, setting a record for pure electric MPVs, and over 1,500 orders in various Asia-Pacific regions [2] - Xiaopeng Motors is accelerating its global strategy, with strong product performance expected to drive sales growth [2] Financial Projections - The company forecasts vehicle sales of 524,000, 786,000, and 966,000 units for 2025, 2026, and 2027, respectively, with corresponding revenues of 97.76 billion, 158.1 billion, and 197.07 billion yuan, reflecting year-on-year growth rates of 139.2%, 61.7%, and 24.7% [2] - Expected net profits for the same years are projected at 1.2 billion, 6 billion, and 9.42 billion yuan [2]

申请入围"中国IC独角兽" 半导体高质量发展创新成果征集 在当下中国汽车智驾产业的发展进程中，自研芯片成为一股不可忽视的力量。从市场份额数据来看，不同企业的自研芯片各有表现。盖世汽车研究院数据 显示，2024年上半年，英伟达Orin-X以近73万颗的装机量，占据35.9%市场份额，在国内智驾芯片市场仍占据重要地位。但中国本土企业也在奋力追赶， 不断抢占市场份额。其中，地平线、华为、黑芝麻智能、蔚来汽车等企业已推出多款具备国际竞争力的产品。这些芯片在算力、能效比、量产进度及生态 布局方面展现出差异化优势，逐步挑战英伟达Orin的统治地位。 地平线作为国内智驾科技领域的佼佼者，根据高工智能汽车研究院数据，2024年上半年凭借征程系列计算方案，以28.65%的份额位居市场第一，在自主 品牌乘用车前视一体机计算方案市场（L2ADAS）更是以33.73%的市场份额跃居首位。其征程家族产品覆盖低、中、高阶全场景智驾量产需求，累计出货 量已超600万套，并且已经赋能超80家生态伙伴推出成熟产品，超40家投入主机厂定点及量产项目，强大的市场影响力和广泛的客户基础，使其在市场竞 争中优势明显。 黑芝麻智能同样表现不俗，2022 ...

2025上海车展上，小鹏汽车推出小鹏P7+超长续航Max旗舰版，官方建议零售价20.88万元。与此同时， 2025款小鹏X9开启全球交付，并在车展现场举办首批车主交付仪式。此外，小鹏汽车即将开启行业首 个"AI智能辅助驾驶安全训练营"。 在展台现场，小鹏汽车还全面展示了其从量产应用到前瞻技术的布局。全球首款分体式飞行汽车"陆地 航母"与小鹏人形机器人IRON首次同台亮相。此外，展台还设有多个技术展示区，包括小鹏图灵AI智 驾、小鹏图灵AI芯片、超"刚"安全黑科技以及5C枪击电池包等。 据介绍，小鹏P7+超长续航Max旗舰版搭载小鹏5C超充AI电池，不仅能耗更低，补能速度也更快。用户 使用小鹏S4超快充电桩，10分钟即可补充420公里续航。 驾控层面，小鹏P7+超长续航 Max 旗舰版搭载前双叉臂+后五连杆悬架，连续过弯时这套悬架系统能够 精准控制车身姿态，提供充足侧向支撑力，使得转向更灵敏。 小鹏P7+还深度自研了AI底盘。小鹏P7+超长续航 Max 旗舰版拥有全新的智能可变阻尼减震器和太极液 压衬套矩阵，由于智能阻尼可调减振系统以20ms的毫秒级响应速度实时感知路面变化，使得小鹏P7+在 经过减速带和颠簸路 ...