Investment Rating - The report maintains an investment rating of "Recommended" for the automotive industry [2]. Core Insights - Baidu's collaboration with Uber and Lyft to launch a Robotaxi pilot project in the UK in 2026 is a significant development, indicating a global expansion strategy for domestic Robotaxi operators [3][4]. - The report highlights that leading domestic Robotaxi operators are achieving positive unit economics (UE) per vehicle, driven by fleet expansion and reduced vehicle costs, with expectations for rapid growth in fleet size in 2026 [4]. - The report emphasizes the potential for improved operational performance and market expansion for Robotaxi operators, particularly in regions where traditional ride-hailing costs are significantly higher than in China [4]. Summary by Sections Industry Overview - The report discusses the strategic importance of partnerships with international ride-hailing platforms for domestic Robotaxi operators, facilitating their global market expansion [4]. - It notes that the first L3 level vehicles have received approval for mass production, marking a significant step towards the widespread application of autonomous driving technology [2]. Market Dynamics - The report indicates that leading players in the Robotaxi sector are achieving profitability on a per-vehicle basis, with companies like Luobo Kuaipao and Xiaoma Zhixing reporting positive unit economics in specific cities [4]. - The cost of autonomous driving kits has decreased significantly, with Xiaoma Zhixing reporting a reduction of over 70% compared to previous generations, further supporting profitability [4]. Investment Recommendations - The report suggests focusing on key companies such as XPeng Motors, Desay SV, Huayang Group, Bertel, Junsheng Electronics, Xiaoma Zhixing, Horizon Robotics, Nexperia, and Top Group, as they are expected to perform well in the growing Robotaxi market [4][6].

Group 1 - The core viewpoint of the article highlights the significant growth in the sales of pure electric large three-row SUVs, which reached a historical high of 46,209 units in November 2025, marking a 16% month-on-month increase and maintaining the top position among all power types for three consecutive months [2] - Porsche has announced the shutdown of its self-built charging network, totaling approximately 200 stations, effective March 1, 2026, and will shift focus to deep collaborations with leading charging operators in the industry [2] - The first prototype of the new automotive brand "Yijing," co-created by Dongfeng Motor and Huawei, has officially rolled off the production line, with the first mass-produced model expected to debut at the Beijing Auto Show in April 2026 [2] - Uber is partnering with Baidu to conduct trial operations of autonomous taxis in London, with plans to launch a pilot project using Baidu's Apollo Go RT6 autonomous vehicles in the first half of 2026, aiming for official operations by the end of next year [2]