Sinolink: End-to-end intelligent driving accelerates the clearance of the entire vehicle, and self-developed full-stack technology is expected to break through.

Sinolink released a research report stating that the penetration rate of advanced intelligent driving systems represented by urban NOA has entered a stage of accelerated expansion. By 2025, advanced intelligent driving systems will transition from "usable" to "user-friendly," becoming an important means of competition in the consumer market, accelerating the market clearance of vehicles in the price range of 200,000-400,000. With the landing of end-to-end technology, the core competitive element of advanced intelligent driving systems has shifted from algorithms to data and computing power. Vertically integrated vehicle manufacturers have stronger competitiveness than third-party suppliers, and it is recommended to pay attention to companies like Huawei and LI AUTO-W (02015). Key points from Sinolink: With the implementation of end-to-end technology, the core competitive element of advanced intelligent driving systems has shifted from algorithms to data and computing power. Urban NOA is expected to be fully implemented by 2024, and the penetration rate of advanced intelligent driving systems represented by urban NOA is entering a stage of accelerated expansion. Sinolink predicts that advanced intelligent driving systems are expected to transition from "usable" to "user-friendly" by 2025, becoming an important means of competition in the consumer market. The end-to-end intelligent driving technology that will be implemented in 2024, with its advantages of overall optimization, higher computing efficiency, and stronger generalization capability, has become the current optimal solution for advanced intelligent driving systems. In the end-to-end stage, the core competitive element of advanced intelligent driving systems has shifted from algorithms to data and computing power. Advanced intelligent driving systems will accelerate the market clearance in the 200,000-400,000 price range. Advanced intelligent driving systems have a greater impact on the competitive landscape in the 200,000-400,000 price range. Vehicles below 200,000 are mainly restricted by cost factors, while vehicles above 400,000 have more commercial demand, with consumers considering brand added value more. In the market range of 200,000-400,000, consumers have the strongest acceptance of new technologies, and there is currently no company with an absolute competitive advantage. The implementation of end-to-end technology will enable advanced intelligent driving systems to transition from "usable" to "user-friendly" by 2025, becoming an important competitive tool for major vehicle manufacturers. The core competitive elements of end-to-end advanced intelligent driving systems are data and computing power, with higher barriers to competition, which is expected to widen the gap in product strength between major OEMs and accelerate market clearance in the 200,000-400,000 range. In the era of advanced intelligent driving systems, vehicle manufacturers have stronger competitiveness than third-party suppliers. The competitiveness of providers of advanced intelligent driving systems depends on five key factors: data, computing power, talent, capital, and internal collaboration, with data and computing power being the two most core elements. Based on these five key competitive factors, vehicle manufacturers have stronger competitiveness than third-party suppliers; and the vertically integrated mode of vehicle manufacturers is superior to the Tier 0.5 mode. Among vehicle manufacturers, it is recommended to pay attention to companies like Huawei and Ideal Automobile that have accumulated all five major competitive elements. Investment advice Huawei, as a leading enterprise in the intelligent driving industry, has a leading advantage in the number of research and development team members and capital investment. Since 2024, with the continuous hot sales of the Hongmeng Intelligent Vehicle, related data mileage has accumulated rapidly, exceeding 1 billion kilometers. In the situation where Nvidia's high-performance cloud computing chip has been banned, Huawei's self-developed Ascend series computing chips can play an important role. It is recommended to focus on whether Huawei can continue to maintain its leading position in the field of intelligent driving in the future. LI AUTO-W is the earliest domestic intelligent driving company to transform to end-to-end, with strong cash reserves and a large amount of data accumulation. After multiple iterations of end-to-end models, the performance of its intelligent driving systems has rapidly improved. Ideal Automobile currently has the largest accumulation of mileage data in the domestic industry, and its cloud computing power reserves are rapidly increasing. Benefiting from the advantage of being ahead in the end-to-end era, it is recommended to pay attention to Ideal Automobile maintaining its position as one of the top players in the intelligent driving industry in the end-to-end era. Risk warning Intensified industry competition, lower than expected production and sales of automobiles and electric vehicles, slower than expected regulatory progress, and slower than expected progress in autonomous driving technology.