The National Highway Traffic Safety Administration said that the child ran across the street from behind a double-parked SUV before being struck by the autonomous vehicle, sustaining minor injuries. ...

Core Viewpoint - The article emphasizes the significant advancements in L4 and L3 autonomous driving technologies, highlighting a dual stronghold in the U.S. and China, with notable developments in commercial applications and regulatory approvals [3][10]. Group 1: December Smartization Marginal Changes Summary - L4 commercialization is experiencing global resonance, while L3 policies have made a "0-1" breakthrough. Tesla has initiated pure unmanned testing in Austin without safety drivers or passengers, and the Chinese version of FSD has completed compliance construction in Shanghai [3][10]. - Waymo's monthly active users have increased by 96.6% year-on-year to 1.64 million, accelerating the validation of its business model. Domestic players like Pony.ai have integrated into the WeChat ecosystem, and CAOCAO's "Ten Years, One Hundred Cities, One Hundred Billion" Robotaxi strategy continues to expand [3][10]. - The policy side for L3 has seen a milestone breakthrough with the issuance of the first batch of L3 permits by the Ministry of Industry and Information Technology, marking a transition from assisted driving to conditionally automated driving in China [3][10]. Group 2: January Smartization Catalysts - The industry may enter a year of Robotaxi explosion, driven by both technology and policy, accelerating towards an "iPhone moment" for AI smart vehicles. CES 2026 is expected to be a key industry indicator, with NVIDIA's CEO focusing on the latest advancements in physical AI [4][10]. - In the L4 dimension, attention is on Tesla's FSD V14.2 performance across the U.S. without driver intervention and the expansion of its fleet. For L3, January 2026 will mark the first complete month for public road commercial trials in cities like Chongqing and Beijing, with a focus on operational takeover rates and accident liability cases [4][10]. Group 3: Investment Recommendations - The company maintains a strong outlook for the L4 RoboX theme in 2026, favoring B-end software stocks over C-end hardware stocks. Preferred H-shares include Xpeng Motors, Horizon Robotics, Pony.ai, WeRide, CAOCAO, and Black Sesame Intelligence, while A-shares include Qianli Technology, Desay SV, and Jingwei Hirain [5][10]. - Relevant downstream application stocks include those in the Robotaxi sector, such as Tesla and Xpeng Motors, as well as technology providers like Horizon and Baidu. The transformation of ride-hailing and taxi services involves companies like Didi, CAOCAO, and others [5][10]. Group 4: Supply Chain Insights - In the upstream supply chain, key players include B-end unmanned vehicle manufacturers like BAIC BluePark, GAC Group, and Jiangling Motors, along with core suppliers for testing services, chips, domain controllers, sensors, and other components [5][10]. - The investment landscape is characterized by a spiral upward iteration of hardware and software, with significant opportunities in both sectors as the industry transitions from the 0-1 stage to more advanced phases [15][10].

Tesla Inc.'s (NASDAQ:TSLA) pilot Robotaxi operations' scale in Austin could reportedly be smaller than what CEO Elon Musk has claimed.Tesla Robotaxi TrackerAn engineering student at Texas A&M University has reverse-engineered the official Tesla Robotaxi app to track the service's availability, Electrek reported on Monday. The tracker details 32 Tesla Model Ys used in the Robotaxi network in Austin, which is far from Musk's earlier claims of having 1000 Robotaxis in Austin.Tesla didn’t immediately respond to ...

December 21, 2025 11:35 PM GMT The Robot Almanac Vol. 6: Autonomous Vehicles Morgan Stanley Global Embodied AI Team December 2025 The content addressing private companies is being provided for informational purposes only and does not constitute a solicitation or imply future research coverage if the company goes public. Content is based on unaudited information. No investment recommendation is provided as there is limited public information available for private companies. Investors should conduct their own ...

Core Insights - Ross Gerber, co-founder of Gerber Kawasaki, commented on the advancements of Tesla's Full Self-Driving (FSD) technology and the competitive position of Waymo in the Robotaxi and self-driving sectors [1] Tesla Developments - Gerber expressed that Tesla's FSD v14.2 shows significant improvement, stating it "drives much better than before," but still requires supervision, classifying it as a level 2 system [2] - Achieving level 3 autonomy would necessitate Tesla taking liability for accidents caused by its system, which Gerber noted would signify a major advancement [3] - Tesla has recently obtained self-certification to deploy autonomous vehicles in Nevada, facilitating its Robotaxi commercial operations [6] Waymo's Position - Gerber labeled Waymo as the leader in the Robotaxi sector, highlighting its level 4 autonomy and rapid scaling of operations [4] - Waymo's recent expansion allows it to operate on highways across multiple cities without an onboard safety driver, contrasting with Tesla's current operations [5]

Core Insights - The U.S. is increasing its focus on autonomous driving, with companies like Tesla, Waymo, and Zoox leading the charge, while ride-hailing platforms like Uber and Lyft stand to benefit significantly from this trend [1] Cost Savings - Autonomous taxis can reduce costs by eliminating the need for human drivers, allowing companies to offer more competitive prices, which could enhance adoption and profit margins [2] - A comparison showed that a Tesla Robotaxi ride was over $13 cheaper than a regular Uber ride for a trip to a coffee shop in Downtown San Jose [3] Growing Customer Adoption - There is a growing preference for Robotaxis over traditional cabs, as evidenced by Uber users in Atlanta opting for Waymo Robotaxis [4] - Tesla's Robotaxi app became one of the most downloaded free travel applications on the Apple App Store, surpassing Uber's own 30-day rollout record [4] Improved Safety Outcomes - Research indicates that autonomous vehicles may be safer than human drivers, with Waymo reporting a 91% higher likelihood of avoiding serious injuries compared to human drivers [5] - Waymo also noted a 79% reduction in airbag deployments and an 88% reduction in property damage claims compared to human drivers [6] Partnerships Could Be The Way Forward - Uber and Lyft are forming partnerships with companies like Waymo to integrate Robotaxis into their platforms, which could enhance their market reach [7] - Uber's CEO highlighted a $1 trillion total addressable market (TAM) opportunity for the autonomous driving industry, suggesting various revenue models for Robotaxis [8] Market Reactions - Waymo's partnership with Lyft in Nashville resulted in a 10% increase in Lyft's stock price, indicating positive market sentiment towards such collaborations [9] Operational Efficiency - Partnerships with autonomous vehicle companies could alleviate the costs associated with maintaining a fleet, allowing ride-hailing companies to focus on providing platforms for these vehicles [10] Challenges Ahead - Regulatory challenges persist, with varying state regulations in the U.S. and calls for stricter oversight from government officials [11][12] - Concerns from traditional cab drivers and lawmakers about the impact of autonomous vehicles on employment and livelihoods are emerging [13] Conclusion - Ride-hailing companies are investing in autonomous vehicles, with Uber planning to deploy over 20,000 Robotaxis through partnerships over the next six years, indicating a strong commitment to this evolving market [14]

Core Insights - Waymo has achieved a significant milestone by completing 96 million driverless miles, enhancing its self-driving credentials [1][2] - The company reported a substantial reduction in serious injuries and airbag deployments compared to human drivers [3] Waymo's Safety Report - Waymo's report indicates that it has driven 96 million miles without a driver as of June this year, with specific mileages in key cities: 16.4 million in Los Angeles, 29.8 million in San Francisco, 4.62 million in Austin, and 46.39 million in Phoenix [2] - The self-driving cabs have recorded 91% fewer serious injuries and 79% fewer airbag deployments compared to human-operated vehicles [3] San Francisco Airport Expansion - Waymo has begun testing operations at San Francisco International Airport after receiving a pilot permit for commercial operations [4] - Initially, the service will be available only to employees, with plans to expand to regular riders in the San Francisco Bay Area [5] New York City Testing - Waymo has started testing its autonomous cabs in New York City, facing opposition from local cab drivers who are concerned about the impact on their livelihoods [6] - Tesla is also entering the NYC market, seeking drivers for its Robotaxi testing operations [7] Tesla's Robotaxi Operations - Tesla has expanded its Robotaxi operations in Austin to include highway driving, moving the onboard safety operator to the driver's seat to navigate new regulations [8] - The effectiveness of Tesla's Full Self-Driving (FSD) system has been under scrutiny, with recent revisions to its definition [9] Regulatory Environment and Market Opportunity - U.S. Transportation Secretary Sean Duffy announced plans to ease self-driving regulations by revising the Federal Motor Vehicle Safety Standards [10] - Dan Ives from Wedbush Securities maintains a bullish outlook on Tesla's FSD technology, highlighting a potential $1 trillion market opportunity for autonomous driving [10]

Core Points - Waymo suspended its robotaxi service in downtown Los Angeles following the vandalism of five vehicles during protests against immigration raids [1][2] - The company operates over 300 vehicles in LA and continues its services in other parts of the city despite the incident [4] Group 1: Incident Details - Five Waymo vehicles were set on fire during protests, which were largely peaceful but included some violence [3][5] - The protests were triggered by an immigration raid in the city, leading to heightened tensions and political conflict between President Trump and California Governor Gavin Newsom [5][6] - Waymo is collaborating with the Los Angeles Police Department regarding the incident [2] Group 2: Historical Context - This is not the first instance of Waymo vehicles being targeted; a similar incident occurred last year in San Francisco during Lunar New Year celebrations [4]