Investment Rating - The report suggests a strong investment trend in the automotive sector, particularly in the areas of intelligent driving and humanoid robots, indicating a bullish outlook for the ROBO+ sector [38][41]. Core Insights - The collaboration between Momenta and Uber aims to commercialize autonomous Robotaxi services in international markets, with the first rollout expected in early 2026 in Europe [1][7]. - The establishment of the national standard for vehicle-mounted lidar by Hesai marks a significant milestone in the standardization of intelligent driving sensors in China [1][8]. - The automotive sector is undergoing a transformation driven by advancements in intelligent driving and humanoid robots, which are expected to reshape the entire automotive supply chain [38][41]. Summary by Sections Intelligent Driving - Momenta and Uber have formed a strategic partnership to introduce autonomous vehicles on the Uber platform, targeting international markets outside the US and China, with initial operations set for 2026 in Europe [1][7]. - The national standard for vehicle-mounted lidar, led by Hesai, has been officially released, filling a gap in domestic technology standards [1][8]. - The Dongfeng Nissan N7 has been launched, featuring Momenta's advanced driving model, which integrates perception and planning capabilities [9]. Robotics - UBTECH has made significant progress in training humanoid robots for various automotive manufacturers, achieving breakthroughs in key technologies for industrial applications [2][18]. - Junpu Intelligent has begun constructing its first production line for humanoid robots, with an initial capacity of approximately 1,000 units per year [2][20]. - Lingchu Intelligent's Psi-R1 has successfully tackled complex tasks in open scenarios, showcasing advancements in embodied intelligence [2][29]. Investment Recommendations - The report emphasizes that ROBO+ represents the strongest industrial trend in the automotive sector, with intelligent driving and humanoid robots being the two most critical directions [38][41]. - The report highlights the expected explosive growth in high-level intelligent driving and Robotaxi services, driving demand for high-performance chips, lidar, and optical components [38][39]. - Investors are advised to focus on leading companies in the chip, lidar, and sensor cleaning sectors, as well as established automotive manufacturers with competitive advantages [38][40].