特斯拉盘前涨 4%，机构称看好 Robotaxi+FSD 协同作用

Despite the recent downturn in Tesla's stock price, extreme divergence in analyst opinions, and various opinions from shareholders, it cannot be denied that Tesla has always been a pioneer in the electric vehicle industry, and even in the technology industry.

On April 6th, Musk announced on the social platform X that Tesla will release its autonomous taxi (Robotaxi) product on August 8th. After this announcement, Tesla's stock rose by 3.81% after hours. Shortly after Musk's announcement, Tesla's official AI account highlighted Tesla's achievements over the past three and a half years: achieving a cumulative total of 1 billion miles of autonomous driving.

The Past and Present of Robotaxi

Robotaxi has sparked a new wave of attention and is expected to bring new commercial value to Tesla. Tesla's Robotaxi plan has been brewing for some time. Different from traditional car sales with autonomous driving features, Robotaxi is expected to bring new commercial value to Tesla.

The vision of Tesla's Robotaxi began in the second chapter of the Master Plan in 2016;

In 2019, Musk stated that the first phase of the Robotaxi business model would be similar to ride-hailing services;

In 2022, Musk reiterated that Robotaxi is expected to be mass-produced in 2024 and will adopt a design without a steering wheel or pedals;

In 2023, at the Goldman Sachs Technology Summit, Tesla's Investor Relations Director stated that the Robotaxi business will become Tesla's third-generation platform. In addition to selling cars, Tesla will also extract a corresponding share from each order, similar to the Uber model.

The Launch of Robotaxi is Expected to Form a Positive Feedback Loop with FSD

There have been many recent developments in FSD:

On March 12th, Tesla released a new version of FSD V12.3;

On March 18th, Tesla conducted a comprehensive update push for its FSD V12.3;

On March 24th, 26th, and 27th, versions V12.3.1, V12.3.2, and V12.3.2.1 of FSDBeta were released respectively;

On March 26th, Musk announced that all Tesla vehicles in the United States (with FSD hardware capabilities) will be able to try FSD for free for one month. After the FSDV12 update, a neural network with deep learning capabilities was introduced, marking a significant leap in the underlying logic of autonomous drivingThe launch of Robotaxi is expected to strengthen the commercialization capability of FSD, feeding back the road test data for the scale of FSD, thus forming a positive double helix of continuously pushing Tesla's autonomous driving breakthroughs.

There have been many follow-up catalytic events in autonomous driving this year, and the era of intelligent driving is expected to begin. Looking ahead, we can also expect the April Beijing Auto Show, the new collaboration model "Enjoy Boundary" between BAIC and Huawei, as well as the upcoming release of the collaboration model "Proud Boundary" between JAC and Huawei. BYD will also release nearly 10 models with LiDAR technology this year, and plans to provide optional advanced intelligent driving features for models priced above 200,000, with advanced intelligent driving features becoming standard for models priced above 300,000 in the future.

Investment recommendation: Bullish on the mass production of intelligent driving from 1 to N in 2024, and suggest focusing on core targets in various industry chains.

Risk warning: Lower-than-expected demand for automobiles, risks of changes in technological paths, and intensified industry competition