Industry Insights | The Era of Smart Vehicles Has Arrived
文章免費5 天前
According to data from the China Association of Automobile Manufacturers (CAAM), China's new energy vehicle (NEV) sales stood at just 777,000 units in 2017. By 2022, annual NEV sales had surged to 6.887 million units, with the penetration rate reaching 28.2%—exceeding the 20% target set in the 14th Five-Year Plan three years ahead of schedule. In 2023, the penetration rate rose further, breaking the 30% threshold to hit 31.6%.
Source: China Association of Automobile Manufacturers, EV Observer
Source: China Association of Automobile Manufacturers, EV Observer
The irreversible shift from traditional fuel-powered vehicles to new energy vehicles is now fully underway. Industry insiders predict that the original target of NEVs accounting for more than 50% of the market by 2035 will likely be achieved as early as 2025, and no later than 2026. Clearly, the NEV industry has completed the first phase of electrification and is now advancing into the second phase centered on intelligentization.
Today, traditional automakers are in decline, while new energy vehicle startups are rising rapidly. Domestic independent brands are gaining new vitality, and Huawei's automotive business unit is accelerating its entry into the market. All these signs indicate that a great era of transformation for China's automotive industry has arrived—the era of smart vehicles.
In this new era, core automotive technologies are evolving rapidly, and auto components are developing toward electrification, intelligentization and lightweighting. A large number of outstanding domestic auto parts enterprises have emerged, accelerating domestic substitution while expanding into international markets, demonstrating strong vitality. This article sorts out some core components and corresponding leading listed companies in three key areas of intelligent new energy vehicles (hereinafter referred to as "smart vehicles"): smart chassis, smart cockpit and intelligent driving.
I. Smart Chassis
With the advent of the smart vehicle era, segments such as brake-by-wire, steer-by-wire and air suspension within the entire automotive chassis system will embrace opportunities for market expansion and domestic substitution. We are optimistic about domestic parts enterprises with leading technological capabilities and excellent business expansion capabilities.
1. Brake-by-Wire System
Automotive braking systems mainly consist of brakes and are roughly divided into service brakes and parking brakes. Service brakes are used to reduce vehicle speed or stop the vehicle during driving, while parking brakes are mainly used to prevent the vehicle from sliding after parking. Since braking systems are directly related to the safety performance of intelligent driving, they are extremely critical, and brake-by-wire technology is currently widely used in smart vehicles.
"By-wire technology" replaces traditional mechanical systems with precise electronic sensors and electronic actuators. Brake-by-wire replaces the original brake pedal with a simulator to receive the driver's braking intention. The simulator generates and transmits braking signals to the control and execution mechanisms, and provides simulated feedback to the driver according to certain algorithms. Brake-by-wire systems are mainly divided into Electro-Hydraulic Brake (EHB) systems and Electro-Mechanical Brake (EMB) systems. Currently, EHB is the mainstream in mass production, while EMB is the future direction. According to ZuoSi Automotive Research, China's brake-by-wire system installation volume exceeded 5 million sets in 2023, with the penetration rate continuing to rise. Its development is directly related to the safety redundancy of intelligent driving and has broad market space. Compared with traditional hydraulic braking systems, brake-by-wire has the advantages of small space occupation, light pedal weight, convenient operation and good driver experience.
Relevant Listed Companies
Bethel Automotive Safety Systems: A leading domestic manufacturer of mass-produced brake-by-wire (One-Box solution), which has obtained designated orders from many well-known automakers and is a leader in domestic substitution.
Tuopu Group: Actively in the brake-by-wire field, its Integrated Brake System (IBS) has entered mass production and is an important part of the company's smart chassis strategy.
Asia-Pacific Mechanical & Electronic: A leader in traditional braking systems, with years of technical accumulation and product layout in brake-by-wire (EHB), covering a wide range of customers.
2. Steer-by-Wire System
Steering system components include steering wheels, steering drag links, tie rods, rocker arms, steering shafts and steering columns. Steer-by-wire technology is the future development trend of steering systems.
The steer-by-wire system completely eliminates the traditional mechanical connection between the steering wheel and the steering wheels, getting rid of the limitations of traditional steering systems. It is mainly composed of road feeling feedback, steering execution, controllers and related sensors. Steer-by-wire systems have the advantages of small size, high safety and more comfortable driving posture.
Among them, the road feeling feedback mainly includes the steering wheel, road feeling motor, reducer and torque angle sensor, whose function is to drive the road feeling motor to implement feedback torque commands, thereby applying appropriate road sense to the driver. The steering execution mainly consists of steering motors, steering gears and steering tie rods, whose function is to drive the steering motor to execute the steering angle commands given by the controller to realize vehicle steering. Controllers and sensors mainly output real-time road feeling torque commands and wheel steering angle commands based on driving intentions, vehicle conditions and road conditions.
As standard configuration for L3 and above autonomous driving vehicles, steer-by-wire systems are seeing accelerated industrialization. According to Huajing Industrial Research Institute, China's steer-by-wire market size is expected to exceed 10 billion yuan in 2025.
Relevant Listed Companies
Nexteer Automotive: A globally leading steering system supplier at the forefront of steer-by-wire technology R&D. A-share companies in its industrial chain include Zhejiang Shibao (steering gears, steering columns).
Huayu Automotive Systems: Actively develops steer-by-wire technology through its subsidiaries. As a comprehensive auto parts giant, it has advantages in system integration and customer resources.
3. Electric Power Steering (EPS) System
EPS is a power steering system that directly provides auxiliary torque via motors. Compared with traditional hydraulic power steering systems, it features lower energy consumption, flexible parameter adjustment and easy maintenance.
It is mainly composed of torque sensors, vehicle speed sensors, Electronic Control Units (ECU), motors, reducers and clutches. Its working principle is: when the driver turns the steering wheel, the torque sensor converts the relative angular displacement of the torsion bar into electrical signals and transmits them to the ECU. The ECU controls the rotation direction of the motor and the magnitude of the auxiliary current based on signals from the vehicle speed sensor and torque sensor to complete steering assistance.
According to Zhiyan Consulting, China's EPS market size reached 11.2 billion yuan in 2013 and grew to 25 billion yuan in 2017. In recent years, driven by rising demand for automotive intelligentization and electrification, EPS has been highly valued as an important component affecting driving experience, with its market penetration rate continuously climbing. China's EPS market size was estimated at 31.8 billion yuan in 2022.
Source: Debang Research
Among them, EPS motors are the power source of EPS systems and core precision safety components for automotive steering, with a safety level second only to fuel vehicle engines and new energy vehicle drive motors. It takes about 1.5 to 2 years to complete verification from the steering system to the whole vehicle, and products need to pass the IATF16949/VDA6.3 certification system, resulting in long certification cycles and high industry barriers. At present, the domestic EPS motor market is mainly dominated by foreign-funded enterprises. With changes in the competitive landscape of downstream automakers, domestic auto parts enterprises are expected to gradually realize domestic substitution of EPS motors.
Relevant Listed Companies
Duer Corporation: Mainly engaged in automotive steering pumps, gear pumps, etc., with in-depth layout in EPS system-related components.
Changhua Group: Its products include automotive fasteners and stamping parts, some of which are applied in EPS and other chassis systems. Core EPS assembly suppliers are still dominated by foreign giants such as Bosch and JTEKT, but domestic Tier 2 suppliers are rising rapidly.
4. Air Suspension System
A suspension system is the general term for force-transmitting connection devices between the frame (body) and the axles (wheels). It transmits various reaction forces and their moments exerted by the road surface on the wheels to the body and cushions road impacts. It consists of elastic elements (various springs), shock absorbers and guiding mechanisms, which respectively play the roles of buffering vibration, absorbing vibration and transmitting torque. The performance of the suspension system directly affects vehicle stability and comfort.
The most obvious difference between air suspension and ordinary suspension is that it uses air springs instead of metal coil springs. The air pump adjusts the air volume and pressure in the air springs to change their stiffness and elastic coefficient. By adjusting the amount of air pumped in, the stroke and length of the air springs can be adjusted to achieve raising or lowering of the vehicle chassis.
Air suspension can automatically adjust the elastic coefficient of the springs and the damping coefficient of the shock absorbers according to driving conditions to maintain body height, improving vehicle trafficability, handling stability and riding comfort. Equipped with intelligent suspension systems, electric vehicles can reduce energy consumption and increase driving range. Vehicles with air suspension can directly adjust body height, so they can lower the chassis ground clearance during high-speed driving to reduce energy consumption by lowering wind resistance. Moreover, compared with metal parts of traditional suspension systems, air suspension systems can effectively reduce weight, thereby improving the cruising range of new energy vehicles.
Air suspension has become a new selling point for consumers when purchasing passenger vehicles. It is not only an important configuration for vehicle consumption upgrading, but also conforms to the development direction of automotive intelligentization.
At present, the supply price of a complete air suspension system is about 12,000-14,000 yuan, which was initially mainly installed on luxury models priced above 700,000 yuan such as the BMW 7 Series, Mercedes-Benz S-Class and Range Rover. With intensified competition brought by the entry of new energy vehicle startups, functional differentiation has become a selling point for major automakers, leading to a sharp increase in demand for air suspension and a continuous decline in price ranges. According to Soochow Securities, the penetration rate of air suspension in domestic passenger vehicles was about 1.8% in 2021, and about 0.7% excluding imported vehicles, indicating huge growth space.
According to Gaogong Smart Vehicle data, 280,000 sets of air suspension were factory-installed as standard in China in 2022 (a year-on-year increase of 142.3%), with about 100,000 sets optional. Western Securities predicts that shipments of air suspension for new energy vehicles will reach 820,000 sets in 2023 (accounting for 63% of total shipments). Driven by the high-end upgrading of domestic vehicles, cost reduction and technological upgrading, the penetration rate of air suspension in Chinese passenger vehicles is expected to reach 16% by 2025, corresponding to a market size of 39.9 billion yuan.
Source: Western Securities
At present, domestic manufacturers have broken through core components such as air springs and air supply units through independent research and development and acquisition of foreign-funded enterprises, and have entered the air suspension track through the component designated order model under the trend of software and hardware decoupling, driving down the cost of air suspension systems. With further improvement of the localization rate, the price of domestic air suspension is expected to drop below 8,000 yuan, which will significantly enhance the competitive advantage of domestic air suspension manufacturers and further increase their market share.
Relevant Listed Companies
Zhongding Sealing Parts: Through the acquisition of AMK, it has become a global core supplier of air suspension core components (air supply units) and has obtained orders from many domestic new energy brands.
Baolong Technology: A technological leader in the field of air springs and a core domestic supplier of air springs, while also laying out gas storage tanks, sensors and other components.
Tuopu Group: Has air suspension system integration capabilities, has launched air suspension system assembly products, and is actively promoting customer designated orders.
II. Smart Cockpit
Automotive cockpits have gone through three development stages: mechanical cockpits, electronic cockpits and the current smart cockpits. Smart cockpits introduce advanced computer technology, artificial intelligence and connectivity functions, representing the latest development stage of automotive cockpit technology. Cockpits in this stage adopt advanced user interfaces such as touch screens, voice recognition and gesture control, allowing drivers to control vehicle functions in multiple ways. Moreover, by connecting with smartphones and cloud services, smart cockpits can also learn drivers' preferences and habits to provide personalized suggestions and services.
Source: Founder Securities
From an in-vehicle perspective, smart cockpits are the comprehensive innovation, upgrading and linkage of cockpit interiors and cockpit electronic products. From an external perspective, smart cockpits realize V2X connections with various off-board basic network facilities and networked devices through technologies such as the Internet of Vehicles, wireless communication, remote sensing and GPS, sensing traffic signals, road conditions and off-board entertainment and life scenario signals, empowering the perception and decision-making layers of autonomous driving and thus promoting the realization of high-level autonomous driving.
In the upstream link of smart cockpits, hardware and software form the Cabin Domain Controller (DCU) architecture, where the hardware part mainly includes power semiconductors, display panels, PCBs and chips. As the "brain" of the cockpit domain, the cockpit domain controller has a high degree of standardization and is responsible for solving information security problems as well as issues such as the increasing number of ECUs and limited computing power. Smart cockpit DCUs can integrate in-vehicle infotainment systems, liquid crystal instruments, HUD and other systems/functions, receive sensor signals, perform calculations and decision-making, and send instructions to the execution end. As the most tech-savvy consumer unit that can be most perceived by consumers, smart cockpits have become one of the standard configurations of smart vehicles.
1. Head-Up Display (HUD)
Automotive HUD, also known as vehicle head-up display system, centers on the vehicle driver and projects important driving information (such as speed, navigation, etc.) onto the windshield in front of the driver in a blind operation manner, allowing the driver to view important driving information such as speed and navigation without bowing or turning their head as much as possible. The basic structure of HUD includes projection units, main control PCB boards, LED light sources, projection displays, reflectors, etc. Among them, the projection unit is the core component for projection imaging, accounting for about 50% of the total value.
The HUD market has promising potential with continuously rising penetration rate. Currently, the penetration rate of HUD is still at a low level. With further increase in consumer attention to HUD and the gradual adoption of HUD as standard by automakers, the penetration rate of HUD is expected to continue to rise rapidly. It is estimated that the penetration rate will reach 55% by 2026, with a market size of 30.2 billion yuan, presenting considerable investment potential.
Relevant Listed Companies
Foryou Group: A leading domestic HUD supplier with products covering W-HUD and AR-HUD, which has been supporting many mainstream domestic automakers.
Crystal Optoelectronics: Has profound technical accumulation in core optical components of AR-HUD (such as PGU, optical lenses) and is an important partner of many Tier 1 suppliers and automakers.
2. Camera Monitor System (CMS)
CMS, known in the industry as electronic rearview mirrors, replaces traditional optical rearview mirrors with a combination of cameras and monitors. The display mode is that external cameras collect images, which are processed and displayed on in-cabin screens, while functions such as blind spot warning and obstacle reminder can be integrated.
CMS mainly consists of the following three components:High-definition cameras: One of the core components of the CMS system. Usually including one or more cameras installed at the rear or sides of the vehicle to capture real-time images around the vehicle. These cameras can include wide-angle, fisheye or infrared cameras, depending on the design and functions of the system. Moreover, the cameras are coated to ensure that drivers can still obtain good real-time road condition imaging in harsh weather.High-definition display screens: CMS electronic rearview mirror systems are usually equipped with high-resolution display screens for displaying real-time images from cameras. This display screen is usually installed inside the vehicle to replace traditional rearview mirrors. By setting high-definition display screens between the dashboard and the left and right doors respectively, drivers are no longer affected by the window's obstruction to vision in harsh weather conditions such as rain and fog. The interface has functions such as adjustable image display, switching and adjusting the display area of side rearview mirrors.System controllers: The controller is integrated with the display screen and communicates with other control units via CAN to realize information sharing between various vehicle control units and complete system functions collaboratively.
Relevant Listed Companies
At present, the overall CMS market is dominated by foreign giants such as Magna and Valeo, but domestic enterprises have made layouts in core components such as cameras and display screens. Companies such as Lianchuan Electronic Technology (automotive lenses) and OFILM Group (camera modules) are actively participating.
3. Cabin Domain Controller (CDC)
Cabin Domain Controller (CDC) refers to automotive electronic equipment that integrates multiple controllers and chips. By connecting various in-vehicle devices and systems for data exchange and control, it realizes integrated management of smart cockpit functions. It is mainly used for driver infotainment, vehicle safety control and other aspects. This controller can be remotely upgraded and maintained through operating systems and applications. As the core part of the in-vehicle system, the cabin domain controller realizes the integration of functions such as liquid crystal instruments, in-vehicle infotainment systems and HUD through its built-in high-performance processors, memories and communication interfaces.
With the continuous improvement of vehicle intelligentization, the original traditional distributed cockpit architecture can no longer meet the demand for centralized intelligent driving information, and is gradually evolving to a centralized domain control architecture. The cabin domain controller supports rich and highly interactive automotive cockpit functions in a centralized form, and becomes the core of future automotive decision-making and computing, overcoming the limitations of the original hardware distributed architecture, simplifying the design difficulty of system hardware and communication architecture, and effectively reducing communication resources between various decentralized controllers and the cost of the cockpit domain system. At the same time, the domain control centralized architecture also lays a certain hardware foundation for the subsequent vehicle central centralized electronic architecture solution.
With the complication of cockpit functions, the demand for high-computing chips and domain controllers has surged. According to Gaogong Smart Vehicle data, the factory installation rate of cabin domain controllers in the Chinese market exceeded 20% in 2023.
Relevant Listed Companies
Desay SV: The absolute leader in domestic smart cockpit domain controllers, with products covering multiple chip platforms such as Qualcomm and Xinchi, and customers covering mainstream independent brands and new forces.
Joyson Electronics: Its subsidiary Preh's smart cockpit domain controllers and human-computer interaction products have been supporting global customers such as BMW, Mercedes-Benz and Ford, with strong strength.
Foryou Group: Also has a layout in the field of cabin domain controllers, providing solutions from hardware to software.
4. In-vehicle Acoustic System
Modern smart vehicle cockpit acoustic systems include automotive speakers, in-vehicle power amplifiers, AVAS, microphones, etc. Traditional mid-to-low-end automotive acoustic systems only include single speakers, usually equipped with 3-8 per vehicle, with low overall value. With the innovative upgrading of smart cockpits and the increasing demand for better sound quality experience from consumers, they will usher in high-end development under the consumption upgrading trend. The number and quality of installed speakers have increased, coupled with the increasing penetration rate of in-vehicle power amplifiers, the single-vehicle acoustic value has increased significantly. Under the trend of high-end automotive acoustic systems, a complete automotive acoustic system will include about 8-20 speakers. At present, new forces generally use 12 or more speakers, such as 22 speakers for Tesla Model X and 19 for AITO M7. According to estimates, the global automotive speaker market will reach 19.78 billion yuan and the domestic market will reach 6 billion yuan by 2025. On the other hand, the global in-vehicle power amplifier market size will reach 31.791 billion yuan by 2025.
Relevant Listed Companies
AEC Group: A globally leading automotive speaker supplier with customers including Volkswagen, Tesla, NIO, etc., and outstanding capabilities in acoustic system integration.
Guoguang Electric: Has profound accumulation in the consumer electronics acoustic field and is vigorously expanding its in-vehicle acoustic business, having obtained designated orders from some automakers.
III. Intelligent Driving
Intelligent driving systems mainly include components such as vehicle-mounted AI chips and sensors. Among them, vehicle-mounted AI chips are responsible for computing; sensors are responsible for converting measured quantities into measurable signals, usually consisting of sensitive elements, conversion elements, signal conditioning and conversion circuits and other auxiliary elements.
The working principle of automotive sensors is to provide the automotive computer with various working condition information including vehicle speed, temperature, engine operation, etc. by converting non-electrical signals into electrical signals, enabling the vehicle to realize automatic detection and electronic control. Automotive sensors are particularly important for realizing high-level autonomous driving. At present, the main types include automotive cameras, vehicle-mounted LiDAR, millimeter-wave radars, ultrasonic radars, etc.
1. Vehicle-mounted AI Chips
With the upgrading of autonomous driving from L1 to L5, the automotive E/E architecture has moved from distributed to centralized, and computing power has also begun to concentrate, with integrated design becoming a trend. After domain centralization, the upgrading of intelligent functions will shift from increasing the number of sensors to increasing computing power, algorithm models and data training, so the requirements for vehicle-mounted AI chips for intelligent driving are getting higher and higher.
In terms of the competitive landscape, NVIDIA, the global leader in AI in the GPU field, and Mobileye, the leader in automotive AI chips backed by Intel, belong to the first tier. Qualcomm and Huawei belong to the 1.5 tier and are expected to quickly break into the first tier. Qualcomm cuts into the autonomous driving domain from the smart cockpit domain, quickly connecting the two key links of automotive intelligentization; Huawei's AI chips cover the cloud, edge and terminal fields, with strong technical strength, targeting the L2+ and above market. Emerging domestic vehicle-mounted AI chip players such as Horizon Robotics (benchmarking Mobileye) and traditional foreign automotive chip giants such as Renesas are in the second tier. Traditional automotive electronics manufacturers and other potential entrants (such as Black Sesame Intelligence) are in the third tier.
2. Automotive Cameras
Automotive cameras are mainly composed of lens groups, image sensors and digital image signal processors, which can realize functions such as driving recording, rearview imaging, panoramic parking monitoring, in-cabin behavior recognition and ADAS assisted driving. Automotive cameras can collect image information through lenses and image sensors to achieve 360° visual perception, making up for the defects of radars in object recognition, and are the sensors closest to human vision.
Relevant Listed Companies
Will Semiconductor: Its subsidiary OmniVision Technologies is an important global supplier of automotive CIS (image sensors).
Sunny Optical Technology (Hong Kong Stock): The global leader in automotive lenses. A-share company Lianchuang Electronic Technology also has an in-depth layout in the field of automotive lenses.
3. Vehicle-mounted LiDAR
Vehicle-mounted LiDAR is mainly composed of transmitters, receivers, measurement control and power supplies. It has the advantages of high ranging accuracy, 3D environment view drawing capability, high resolution, wide detection range and near-all-weather operation. There are many participants in the LiDAR market with a relatively fragmented competitive landscape, and competitive manufacturers are mainly concentrated in China, the United States and Europe.
Relevant Listed Companies
Focuslight Technologies: Has core technologies and products of LiDAR transmitting modules and is a key upstream component supplier.
Ningbo Yongxin Optics: Provides key components such as optical lenses and optical components for LiDAR customers.
4. Millimeter-wave Radar
Millimeter-wave radar is an important component of ADAS systems and an important device for realizing automotive intelligent driving. Millimeter-wave radar integrates radar and millimeter waves, sends out radar waves and receives echoes, calculates the position and distance according to the time difference, and has the advantages of being able to measure distance and speed simultaneously and operate normally in harsh environments. In terms of the market pattern of millimeter-wave radar, foreign enterprises occupy the core technology and main market share. The global market is mainly occupied by manufacturers such as Bosch, Continental, TRW, Valeo, Hella, Delphi, Denso, Autoliv and Fujitsu.
Relevant Listed Companies
Desay SV and Huayu Automotive Systems: Both have realized independent R&D and mass production supply of millimeter-wave radar products.
5. Ultrasonic Radar
Ultrasonic radar calculates the distance by sending ultrasonic waves outward through an ultrasonic transmitting device and receiving the time difference of the echoes. It has great advantages in short-distance measurement and is mostly used in parking radars. Ultrasonic radar has the advantage of low cost, and the main foreign/joint venture enterprises include Valeo, Bosch, Murata, etc.
Relevant Listed Companies
Horn Auto Electronics: The company's core products include ultrasonic radar systems, and it is a supplier of automotive intelligent driving perception systems integrating software, algorithms and hardware. It has in-depth cooperation with automakers such as BYD and Xpeng, and provides supporting services for Huawei Qiankun Intelligent Driving.
Baolong Technology: The company's automotive electronic products are positioned in the field of environmental perception, with product lines including ultrasonic radars, millimeter-wave radars, visual sensors, etc., and are basic component suppliers for autonomous driving perception systems.
6. Autonomous Emergency Braking (AEB)
As an important active safety system, Autonomous Emergency Braking (AEB) is an important part of intelligent driving. The rapid development of Advanced Driving Assistance Systems (ADAS) has brought a number of active safety technologies, among which AEB is a very important one. The AEB system relies on radars and cameras to perceive and predict the driving environment. If the driver fails to take emergency braking measures in time for the dangerous situation ahead, the ADAS system will trigger AEB to avoid collision risks or reduce the degree of collision.
According to data from the U.S. National Highway Traffic Safety Administration (NHTSA), more than 90% of serious crashes are mainly caused by driver errors. Vehicles equipped with AEB can reduce rear-end collisions by 38%, fatal crashes by 20-25%, and the possibility of injury by 25-30%. With the continuous improvement of AEB functions, it will play a more important role in driving safety.
The AEB system consists of perception, decision-making and execution layers. AEB is an assisted driving algorithm. Its basic principle is to perceive the surrounding information of the vehicle through sensors such as millimeter-wave radars, cameras and LiDAR, and transmit the collected information to the control module. The control module judges the danger of the vehicle based on the information and vehicle status. When it is judged that the vehicle is at risk of collision, the system will give a warning to the driver; if the driver does not take collision avoidance actions in time, the AEB system will actively intervene in the braking system to slow down or stop the vehicle.
Source: Guolian Securities
According to Gaogong Smart Vehicle data, in terms of AEB factory installation by vehicle price range in 2022, the AEB installation rate for models priced above 350,000 yuan has exceeded 90%, over 70% in the 200,000-350,000 yuan range; nearly 60% in the 150,000-200,000 yuan range, while the 100,000-150,000 yuan range is below the average at 34.95%, and only 2.27% for models below 100,000 yuan. There are significant differences in AEB penetration rates across different price ranges, with the overall installation rate exceeding 60% for models priced above 150,000 yuan. It is expected that with the maturity of AEB technology, the decline in hardware costs and the implementation of relevant regulations, AEB is expected to penetrate into lower price ranges.
Relevant Listed Companies
As a system function, the AEB industrial chain covers the aforementioned Desay SV (perception and decision-making), Bethel Automotive (brake-by-wire execution) and other companies. These companies that provide integrated or partial solutions for perception, decision-making and execution will directly benefit from the popularization of AEB.
7. Tesla Full Self-Driving (FSD)
Tesla FSD is a full-link autonomous driving system covering perception, prediction, decision-making and execution links. Its core components include Planning, Neural Networks, Training Data, Training Infrastructure, AI Compiler & Inference, etc. Tesla FSD has achieved high integration and rapid iteration in multiple aspects such as algorithms, computing power, data and chips.
Algorithm layer: The planning component focuses on solving much more complex object-associated path planning problems, and provides guidance for vehicle execution actions by accurately processing the travel trajectories of the ego vehicle and all surrounding objects. At the same time, the neural network uses information such as video streams to output the kinematic state of the vehicle, such as position, speed, acceleration, etc., to achieve precise control.
Computing power layer: The training infrastructure provides powerful computing support, including CPUs, GPUs and Neural Network Accelerator units. Optimized by AI compilers, these hardware resources can efficiently support the new operations required by neural networks and map them to the most suitable hardware, thereby improving overall computing efficiency.
Chip layer: The AI compilation and inference component ensures that neural networks can run efficiently on computers. By distributing the execution of neural networks to two independent chip systems, FSD achieves high-performance parallel computing, further improving the response speed and processing capability of the autonomous driving system.
Data layer: Training data realizes automatic and accurate data processing through 4D automatic labeling technology, simulation and data engines, forming a closed-loop data system that provides high-quality data foundation for algorithm training and optimization.
