2月11日，针对投资者关于"有消息称，公司将通过步步高投资公司引入为特斯拉的Cybercab车型的代工 合作，请问该消息是否属实，如属实，将在哪个基地开展代工生产？"的提问，众泰汽车在互动平台回 应称，公司暂无相关计划。 ...

Core Viewpoint - Tesla, Inc. (NASDAQ:TSLA) is considered a "battleground stock" by analysts, with significant value concerns and uncertain near-term fundamentals, yet these factors are becoming less relevant to its stock performance [1]. Group 1: Analyst Ratings and Price Targets - Barclays has reiterated an "Equal Weight" rating on TSLA, indicating mixed sentiments among investors regarding its value and fundamentals [1]. - Wall Street analysts have a consensus "Buy" rating on TSLA, with an average price target of $480, suggesting a 14.26% upside potential. The highest target of $600 indicates a potential upside of 42.82% [3]. Group 2: Future Catalysts - Several potential catalysts for Tesla include the Optimus launch in Q1, the Cybercab in April, new robotaxi markets, updates to Full Self-Driving (FSD), and the launch of a new Megapack facility [2]. - Wolfe Research anticipates that Tesla's robotaxi business could become a major revenue driver over the next decade, despite existing fundamental concerns [1].

（责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 中信建投指出，当前时点，汽车1月产销数据陆续发布，乘用车同环比有所承压，重卡及客车好于 预期，商用车（尤其出口）景气及业绩预期相对占优。智驾及机器人板块围绕特斯拉进展等事件是交易 核心，3月前后催化有望密集落地，包括:FSD全面入华、Optimus V3定型发布、春晚机器人表演、 Cybercab量产等，当前建议积极布局。 ...

证券研究报告 Tesla 物理 AI 战略全面提速 ——智驾&机器人双周报 1 华泰研究 2026 年 2 月 09 日│中国内地 动态点评 近期智驾与机器人板块均出现回调，我们认为主要系短期催化落地后的获利 回吐，叠加春节前板块间轮动。展望后续，智驾方面，FSD 入华或加速推 进（特斯拉已经在中国建设有训练中心，数据无需出境），有望成为年内重 要催化，β 较弱背景下智驾板块有望实现超额受益，重点推荐地平线机器人、 科博达、速腾聚创、禾赛科技、耐世特等。机器人方面，特斯拉审厂催化持 续、静待订单及量产落地，26 年 T 链重心转向量产保供，具备海外产能与 批量交付能力的核心厂商有望获得更高话语权，并且 2026 年有望成为国产 本体上市元年，我们重点推荐三花智控、拓普集团、敏实集团、银轮股份等， 本体关注小鹏汽车等。 Tesla 发布 Q4 业绩，物理 AI 战略全面提速 公司 Q4 毛利率 20.1%超预期，能源业务持续高景气，归母净利 9.40 亿美 元低于公司官网披露的市场一致预期（10.52 亿美元），主要受公司比特币 持仓贬值及股权激励费用大增影响。智驾端，FSD 将全面转向订阅制并取 消买断选项， ...

来源：懂车帝原创 日前，在一次线下交流会上，特斯拉公司副总裁陶琳向懂车帝表示，2026年，特斯拉资本支出（CapEx）计划超过200亿美元，将重点投向AI算力、机器人 工厂、无人驾驶电动车Cybercab量产、储能与制造、充电网络和电池工厂等领域。其中，在中国市场将加大AI软硬件和能源领域投入。 特斯拉公司副总裁陶琳 当前，特斯拉正在经历一场深刻的变革。外界都在关注，当特斯拉年度销量连续第二年波动后，马斯克为何依然忙着砸钱推动Robotaxi和机器人落地。 在这种背景下，特斯拉在中国进行了一次深度沟通，谈及了近期围绕特斯拉"交付量下降"、"FSD何时入华"、"为何不推出800V高压平台"等多个备受关注的 话题，并对当前形势下的战略做出进一步说明。 在陶琳看来，特斯拉本身就是一家AI公司，汽车仍然是极其重要的AI载体，但特斯拉的愿景已扩展到人形机器人和全球能源网络。同时她提到，特斯拉已 在华布局本地训练中心，用于其智能辅助驾驶的本土化调优。 至于特斯拉FSD入华能否如约走向落地？陶琳表示，"关于中国内地落地时间，马斯克此前提到欧洲可能在2月公布相关进展，中国将紧随其后。虽然无法给 出具体日期，但各项工作（包括本 ...

Tesla, Inc. (NASDAQ:TSLA) is one of the 10 AI Stocks to Keep on Your Radar. On February 4, Wolfe Research analyst Emmanuel Rosner said that it sees a “catalyst rich” year ahead for the EV maker despite fundamental concerns and that investors are still looking out for more progress. The firm highlighted several potential catalysts for Tesla, including the Optimus launch in Q1, Cybercab in April, new robotaxi markets, FSD updates, and a new Megapack facility launch. The firm contended that even though the t ...

Core Viewpoint - Investors are focusing on Tesla's autonomous future, particularly its robotaxi expansion, despite current weak automotive revenue [1][3] Group 1: Robotaxi Expansion - Tesla is preparing to scale its robotaxi fleet in multiple cities this year, which could lead to a rise in stock prices [1][4] - The Cybercab, designed without a steering wheel or pedals, is set to enter production this year, indicating rapid scaling of the robotaxi service [4] - Tesla plans to launch its robotaxi service in seven new cities in the first half of 2026, including Las Vegas and Miami [7] Group 2: Data and Demand - Tesla car owners are generating the equivalent of 500 years' worth of driving data daily, enhancing the full-self-driving (FSD) system [3] - The number of Tesla owners using FSD increased by 38% year over year in Q4, surpassing 1.1 million users [3] Group 3: Regulatory Hurdles - The U.S. National Highway Traffic Safety Administration (NHTSA) currently limits annual sales of vehicles without steering wheels to 2,500 units, which could hinder Tesla's Cybercab production plans [5] - The NHTSA is considering modernizing these rules due to advancements in driverless technology, but until the cap is lifted, it may delay expansion [5] Group 4: Financial Outlook - Analysts project Tesla's earnings to grow at a 35% annualized rate over the next few years as higher margins from robotaxis begin to materialize [8]

Core Viewpoint - The company's $20 billion investment in 2026 signifies a shift in the investment narrative, moving away from traditional car company valuations to a broader vision of transportation as a service [1][2]. Investment Strategy - Tesla is committing $20 billion to build six new factories, which supports CEO Elon Musk's vision for the future of electric vehicles (EVs) and transportation [3][4]. - The investment includes a lithium refinery and a lithium iron phosphate (LFP) battery factory, aimed at producing cost-effective batteries for future models like the Cybercab [4]. Market Position and Valuation - Tesla's current market cap stands at $1.4 trillion, with a trading valuation exceeding 200 times Wall Street's earnings estimates for 2026 [4]. - The company is transitioning from being viewed solely as a car manufacturer to being perceived as a transportation-as-a-service provider, with a focus on autonomous driving [4]. Risks and Challenges - The company faces significant cash burn due to the $20 billion investment, with estimates suggesting a $6.2 billion cash outflow for 2026 [7]. - Regulatory approvals for unsupervised robotaxis and the Cybercab are still pending, which adds uncertainty to Tesla's future plans [6][10]. Future Outlook - Tesla's CFO stated that the company has $44 billion in cash and investments to support its spending, but there are risks associated with premature investments in projects like Cybercab and Optimus [8]. - The stock may appeal to investors who believe in Musk's vision for the future of transportation, despite the high-risk nature of the investment [11].

特斯拉副总裁陶琳日前在北京举行的媒体交流会上表示，2026年，特斯拉计划在中国市场加大AI软硬 件和能源领域投入。特斯拉已在华布局本地训练中心，用于其智能辅助驾驶的本土化调优。陶琳表示， 全球市场方面，特斯拉2026年资本支出预计超过200亿美元，将重点投向AI算力、机器人工厂、无人驾 驶电动车Cybercab量产、储能与制造、充电网络和电池工厂等领域。 "随着全球人工智能发展对于算力 中心需求的不断提升，新能源储能系统将成为电网稳定、电能质量提升的重要环节。"陶琳说，特斯拉 上海储能超级工厂的落地投产，将为中国、亚太和欧洲地区提供更有竞争力的储能电池Megapack产 品。关于战略转型，陶琳表示，特斯拉已不再仅仅是一家电动车公司，而是转型为以AI、机器人和能 源为核心的科技企业。"车仍然是极其重要的AI载体，但我们的愿景已扩展到人形机器人和全球能源网 络。这种转型基于的判断是，未来世界将由电驱动，而AI将管理这些硬件。"（新华社） ...

第一，Cybercab量产推进。美国工厂的核心产线建设已基本完成，2025年完成了大部分前期投入。进入 2026年仍将持续投入，以确保Cybercab顺利实现规模化量产。 第二，AI算力中心建设，这是最核心的投资方向。位于美国德州的训练中心累计投入已超过100亿美 元，2026年仍将大幅追加投资。该中心将支撑特斯拉所有AI相关应用，包括自动驾驶与机器人模型训 练，并作为统一"世界模型"的计算基础，服务包括中国在内的全球市场。 新浪科技讯 2月6日晚间消息，据媒体报道，特斯拉副总裁陶琳在一场交流会上阐述了公司2026年的战 略规划与业务布局。 特斯拉2026年资本支出将超过200亿美元，陶琳透露了这笔资金的分配情况。她表示，主要集中在六个 方面： 第四，储能业务扩张。特斯拉会持续加大储能制造投入，进一步提升整体产能与交付能力，以满足快速 增长的全球能源需求。 第五，全球制造体系升级。重点是同步提升硬件自动化水平与软件能力，让整个制造体系更加高效、智 能，并具备更强的规模化复制能力。 第六，充电网络持续建设与开放。特斯拉将继续扩大充电网络覆盖范围，并逐步向更多车企开放。 第三，机器人工厂改造升级。特斯拉已经启动对 ...