Guotai Junan Securities: Tesla's FSD is expected to enter China, accelerating the development of the intelligent driving industry

Guotai Junan Securities' research report indicates that Tesla's FSD entering China will further accelerate the development of the intelligent driving industry under the catfish effect. In 2019, Tesla's Shanghai factory started production, initiating localization and speeding up the industrialization of China's new energy vehicle industry, driving the transformation of local new carmakers and traditional car companies, and nurturing a large number of domestic new energy vehicle suppliers. With Tesla's FSD entering China, it is expected to replicate the catfish effect of electric vehicles, promoting the industrialization of the domestic intelligent driving industry and driving local intelligent driving vehicle manufacturers and supply chains. From 2023 to 2024, the rapid increase in high-end intelligent driving in China is projected. Data from the Gaisei Automotive Research Institute shows that by 2023, the cumulative deployment of NOA functions in China has reached 945,000 vehicles, with 707,000 vehicles equipped with high-speed NOA and 238,000 vehicles equipped with urban NOA. The entry of FSD into China is expected to accelerate the deployment of high-end intelligent driving and promote the industrial development of autonomous driving