Core Viewpoint - The emergence of "Intelligent Driving Insurance" (智驾险) aims to provide coverage for potential risks associated with the use of intelligent driving assistance technologies, addressing consumer concerns and enhancing their confidence in these features [2][3]. Group 1: Industry Developments - Numerous automotive companies and insurance firms are launching targeted products, such as "Intelligent Driving Insurance," to alleviate consumer worries regarding the safety of intelligent driving technologies [2]. - The increasing adoption of intelligent driving features, such as automatic parking and lane-keeping assistance, is accelerating the transition to a new era of "human-machine co-driving" [2]. - Companies are focusing on "equalizing intelligent driving" by integrating advanced technologies into more vehicles while addressing user safety concerns [2]. Group 2: Consumer Experience - A consumer shared that the psychological comfort provided by "Intelligent Driving Insurance" encouraged them to try automatic parking, although they later experienced a minor accident [3]. - The claims process for "Intelligent Driving Insurance" can be complex, raising doubts about the reliability of intelligent driving features and the insurance itself [4][5]. Group 3: Legal and Regulatory Issues - There are ongoing disputes regarding legal responsibilities and liability divisions related to "Intelligent Driving Insurance," questioning whether it serves merely as a risk transfer tool or as essential psychological support for consumers embracing new technologies [3][8]. - The lack of clear legal standards for determining responsibility in intelligent driving scenarios complicates the claims process, as current laws do not adequately address the division of liability between users and manufacturers [8][9]. - The insurance products marketed as "Intelligent Driving Insurance" are often not true insurance products but rather value-added services provided by automotive companies, with insurance companies acting as partners in risk assessment and compensation [5][6]. Group 4: Data and Responsibility - The absence of clear regulations regarding data ownership, usage rights, and protection complicates the interactions between automotive manufacturers, system suppliers, vehicle owners, and insurance companies [8][10]. - The current legal framework does not establish standards for the division of responsibility in accidents involving intelligent driving systems, leading to disputes over whether issues arise from system failures or user errors [9][10]. - Establishing clear rules for data storage and usage is essential for ensuring the integrity of accident data and maintaining the legal rights of all parties involved [10].

假车险再次显示在大众视野。6月8日，北京商报记者了解到，小米汽车近日发布的信息显示，如果车主在投保车险的时候遇到将"保险"表述为"保障"或"服 务"，且保费明显低于常规车险的情况，需要高度警惕。如有保险需求，请一定向具有合法经营车险业务资质的保险机构投保机动车辆交强险和商业保险。 据了解，新能源车主遭遇该类假车险的情况并不少见。相关服务保障产品一般被统称为交通安全统筹服务，并非保险公司推出的商业车险。那么，有车主将 车辆统筹误认为是保险的原因有哪些？又该如何识别？ 假车险再度引发关注 "最近我在投保车险，发现有的车险报价单上把'保险'写成'保障/服务'，保费价格远低于常规车险，这种情况能投保吗？"6月7日晚间，小米汽车微信公众号 发布最新一期答网友问称，如果车主在投保车险的时候遇到将"保险"表述为"保障"或"服务"，且保费明显低于常规车险的情况，需要高度警惕。 小米汽车称，近期，有用户拿着写有"机动车损失保障""机动车第三者责任保障"的"商业电子单"去找保险公司申请车险理赔被拒，因为该产品是由某汽车服 务公司提供的服务保障产品，不是由保险公司承保的正规商业险。 上述服务保障产品一般是交通安全统筹服务，属于交通 ...

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]

除了小鹏汽车，小米汽车此前宣布将联合行业头部保险机构推出"小米智驾保障服务"，计划为用户提供 最高300万元的保障金额。去年，鸿蒙智行、阿维塔等也推出过类似权益，当车辆在智驾状态下发生事 故，相关权益保障金额可高至数百万元。鸿蒙智行北京多家门店销售人员表示，保障权益是购车时随车 赠送的权益，价值约4000元，第二年不再免费赠送，如果车主有需求可自行购买。 它们虽然名字各不相同，但本质上都指向同一件事：车主开启智驾，出了事，车企兜底。 记者调研发现，虽然业内习惯称类似的兜底保障服务为"智驾险"，但其并不算是真正的保险。记者询问 了几家车险领域头部保险公司，得到的答案是，对个人消费者，并没有针对智驾方面的保险上市；针对 车企和智驾系统，会有一些产品责任险可投保。 遥控泊车、代客泊车、城区车道巡航、高速领航……随着智能辅助驾驶技术迭代，更加丰富的"人机共 驾"场景正越来越多地呈现在不同车型上。启用了辅助驾驶功能，出了事故谁来赔？很多车主的现实担 忧，让谁来为智能辅助驾驶"兜底"成为车企和保险公司的共同关切。 近日，记者走访多家新能源汽车门店发现，部分品牌如小鹏汽车、阿维塔、鸿蒙智行等，均有相关辅助 驾驶"兜底"方案 ...

今年3月29日，一辆小米SU7标准版在德上高速公路池祁段行驶过程中遭遇严重交通事故。在事故发生后，小米以及雷军本人都深陷舆论漩涡。 在时隔一个多月之后，5月10日，雷军在微博发文称："过去一个多月，是我创办小米以来最艰难的一段时间，情绪比较低落。" 此后，雷军本人在社交媒体上"沉寂"了起来，更新频率和活跃度远不如从前。 在5月10日的发文中，雷军表示，他取消了一些会议安排和出差计划，也暂停了一段在社交媒体上的互动。过去这几年一直很忙，这段时间反而可以静下心来，仔 细思考，确实有一些收获。 这一消息也瞬间登上微博热搜第一！ 雷军：逐渐找回前行的勇气和信心 在前述小米SU7标准版事故发生后，4月1日，雷军曾回应相关事故情况。他表示，"等到此时，我觉得我不应该再等了，我必须站出来，代表小米承诺：无论发生什 么，小米都不会回避，我们将持续配合警方调查，跟进事情处理的进展，并尽最大努力回应家属和社会关心的问题"。 同时，他还表示："大家的关心和支持，给了我莫大的信心，让我也逐渐找回前行的勇气和信心，状态开始逐步恢复"。 值得注意的是，前述小米SU7标准版事故引发了公众对小米智驾系统安全性和宣传方式的质疑，导致品牌信任危 ...

新华财经上海4月30日电汽车智能辅助驾驶正在从喧嚣回归安全第一性。2025上海车展上，汽车企业更 趋理性，"流量"至上开始收敛，"高阶智驾""自动驾驶""全民智驾"等曾经的高频词汇被"下架"，车企不 再以"花式"技术词汇来吸引消费者，取而代之的是统一使用L2级辅助驾驶等符合技术等级的规范术语。 技术狂奔，配套不足 从电动化的上半场到智能化的下半场，智能辅助驾驶无疑是当前阶段汽车产业的热点和焦点。 有统计数据显示，除了各大整车企业悉数展示自家的智能辅助驾驶能力外，有超过50家智能辅助驾驶相 关企业参加本届车展，包括智能辅助驾驶解决方案、车规级芯片、智能座舱、智能底盘等。参展商既包 括博世、安波福、马瑞利等国际巨头，也包括地平线、魔门塔（Momenta）、佑驾创新、芯擎科技、小 马智行等本土明星企业。 就在车展举办前夕，工信部装备工业一司在工作会上，强调企业应按照《汽车生产企业要深刻领会关于 进一步加强智能网联汽车产品准入、召回及软件在线升级管理的通知》要求，充分开展组合驾驶辅助测 试验证，明确系统功能边界和安全响应措施，不得进行夸大和虚假宣传，严格履行告知义务，切实担负 起生产一致性和质量安全主体责任，切实提升 ...

文 ｜ 尹欣驰 李景涛 4月2 8日，工信部发布2 0 2 5年汽车标准化工作要点，其中提出需要强化驾驶辅助、自动驾驶等智能网联汽车标准供给。此前， 工信部召开闭门会议，进一步规范产业链公司对于辅助驾驶的宣传、发布、测试、OTA升级等活动。我们认为，产业链公司料 将重点提升产品成熟度与安全性：1）资源投入方面，预计主机厂将进一步收敛软硬件架构，以保证产品成熟度，并加速数据收 集；2）技术演进方面，能够提升系统鲁棒性的激光雷达有望加速渗透，功能边界明确、安全责任划分清晰的L3级别有条件自 动驾驶也有望获得更多资源投入。重点推荐智驾行业的头部公司。 从行业进展来看，工信部正有序推进试点工作，于2 0 2 4年6月发布首批智能网联汽车准入和上路通行试点名单，共有9个联合 体入选。从产业链公司的进展来看，华为已发布支持高速L3的ADS Ultr a，致力于推进相关功能的落地，尊界S8 0 0将成为 ADS Ultr a的首发车型之一。 ▍ 安全性将成为驾驶辅助的重要卖点，激光雷达有望逐步成为"标配产品"。 2 0 2 3年起，主机厂加速投放L2级别组合驾驶辅助功能。与视觉方案相比，激光雷达在夜间的识别能力更强，识别精 ...

字节跳动：算力资源已跻身世界第一梯队 商务部：支持地方发展汽车改装等 iPhone 20 周年纪念版或继续中国生产 马斯克被曝可能已有 100 多个孩子 小鹏推出「智能辅助驾驶安心服务」 曾估值近亿美元，前月之暗面海外产品负责人新项目上线 保时捷或在华停售电动车型，CEO：未将小米当对手 vivo 产品经理：去年起 X 系列机型屏幕默认色温有调整 诺奖得主 Hinton：AI 可能会争夺人类手中的控制权 OpenAI 发布多个重磅更新 阿里新一代通义模型 Qwen3 开源 努比亚 Z70S Ultra 摄影师版正式发布 星巴克与五月天联名，小程序「崩了」 京东外卖宣布与猪猪侠联名 《我的世界大电影》全球票房破 8 亿 字节跳动：算力资源已跻身世界第一梯队 据《财经》获悉，字节跳动在今年第一季度，向腾讯、阿里出售了部分 GPU（图形处理器）算力资源： 据多位接近字节跳动的人士透露，字节跳动在去年囤积了大约 10 万个 GPU 模组。据估算，这批 GPU 资源总价值在 1000 亿元左右。该批资源主要用于字节 跳动自家大模型和云各项业务，但上述业务仅占资源的十分之一不到。报道指出，由于目前算力市场供不应求，「卖卡 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - On April 28, 2025, the company launched the "Smart Assisted Driving Assurance Service" priced at 239 HKD per year, offering up to 1 million HKD in compensation, highlighting four key advantages: comprehensive coverage, wide insurance company participation, unlimited claims, and availability across all vehicle models [2][8]. - The company is expected to see steady sales growth due to the launch of new models such as MONA M03 and P7+, alongside improvements in its marketing system and channel transformation [2][8]. - The company anticipates a revenue of 150-157 billion HKD for Q1 2025, representing a year-on-year growth of 129.1%-139.8%, with Q4 2024 revenue reaching 161.1 billion HKD, marking its best quarterly performance [8]. - The company has a robust cash reserve of 419.6 billion HKD as of Q4 2024, reflecting a quarter-on-quarter increase of 17.4% [8]. - The company is positioned for a strong sales cycle in 2025, with multiple new models expected to launch, enhancing its revenue potential [8]. Summary by Sections Company Overview - The company has launched a unique service that allows users to enjoy benefits even 5 seconds after exiting the NGP, which is expected to significantly enhance user trust in its smart driving systems [2][8]. Financial Performance - The company reported a gross margin of 10.0% in Q4 2024, an increase of 5.9 percentage points year-on-year, achieving six consecutive quarters of growth [8]. - The projected revenue for the company in 2025 is 991 billion HKD, corresponding to a price-to-sales ratio of 1.4X [8]. Market Position - The company is leveraging its AI capabilities to maintain a competitive edge in the smart driving sector, with a monthly active user penetration rate of 86% for its XNGP urban driving feature as of March 2025 [8].

小鹏汽车 20250428 摘要 • 小鹏汽车推出智能辅助驾驶安心服务，为用户提供最高 100 万元的补偿， 旨在提升用户对小鹏智驾系统的信任度，并加速智能驾驶平权，全系标配 Maxim 智驾顶配系统。 • 该安心服务直接面向车主，规避了保险公司自驾险替代车险的监管限制， 通过与头部保险公司合作转移风险，并设计了 5 秒接管空间，提升用户体 验，同时验证 NGP 软件的安全性。 • 小鹏汽车积极响应人大代表建议，推动智能辅助驾驶保险业务发展，助力 L3/L4 级别自动驾驶发展，并与主管部门合作制定行业标准，分享经验。 • 自驾险旨在补偿因自驾事故导致车险索赔后的保费上涨，提供一万以下 800 元、一万以上 10%的补偿，有效覆盖续保费用，让客户放心索赔。 • ADAS 保险由用户支付给小鹏汽车，小鹏再向保险公司投保，风险已转移 至保险公司，服务有效期与商业险一致，仅限小鹏官方渠道购买且含全额 车损险及三者险 100 万以上用户。 • 小鹏汽车自驾险定价基于场地测试和路测数据建立的定价模型，反映了其 自驾技术实力，并依法合规地提供相关数据给保险公司进行责任判定，提 供最优性价比保障。 • 自驾保险的推出预计将对 ...