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Kaiyuan Securities: Data & Computing Power Keys to Advanced Smart Driving Capabilities; Leading Autos Incl. Huawei Series, XPeng, Li Auto, Nio, Xiaomi
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HK-listed Chinese automakers rallied today (4th). XIAOMI-W (01810.HK) set an all-time high of $40.1, and the latest price was $39.3, up 3.6%. BYD COMPANY (01211.HK) surged 4.2% to $286. LI AUTO-W (02015.HK) soared 9.3% to $94.75. NIO-SW (09866.HK) mounted 4.8%, while XPENG-W (09868.HK) jumped up 14.5% to $66.95. Kaiyuan Securities said in its report that from a technical perspective, end-to-end foundation models have become the route pursued by many automakers, and the upper limit of capabilities is assumed to be greatly enhanced. In addition, data and computing power will become the key to the advancement of intelligent driving capabilities. End-to-end models can avoid losses during information transmission, and by allowing the model to learn a large amount of driving data, it can develop driving capabilities like an experienced driver. End-to-end algorithms primarily rely on computing power and the accumulation of large amounts of data, which requires a lot of investment. Li Auto said that it will invest more than US$1 billion in training computing power each year, while XPeng said that it will invest RMB700 million in training computing power each year. At present, car companies such as Tesla, Huawei, Li Auto and XPeng are all fostering the deployment of end-to-end algorithms. Currently, intelligent driving has become a key factor for consumers to consider when buying a car, prompting automakers to expedite the deployment of intelligent driving-related businesses. Companies such as Huawei, XPeng, Li Auto, Nio and Xiaomi are pioneers, comparatively speaking. At the same time, traditional car companies such as GWMOTOR (02333.HK), CHANGAN AUTOMOBILE (000625.SZ) and BYD are also accelerating the implementation of intelligent driving functions. XPeng indicated that the P7+ and subsequent models will no longer distinguish between Max and Pro versions, and that AI smart driving will be standard equipment across the board. Currently, the P7+ continues to demonstrate explosive strength, and it is expected that the proportion of subsequent high-end smart driving models will increase considerably. The smart driving activation rate of Xiaomi Automobile reached 88%. AAStocks Financial News |
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