1、 Event overview
On December 9 local time, the German government approved the world’s first level 3 automatic driving operation, which is installed on Mercedes Benz S-class and eveqs. This will allow consumers to legally use level 3 automatic driving on real roads from next year.
2、 Analysis and judgment
Laws and regulations are gradually improved, and L3 + level automatic driving ushers in a new era
The safety problems of self driving cars can not be ignored in the short term, so we need effective integration of policies and regulations with new technologies. The establishment of safety regulations and guidelines for automatic driving is one of the necessary conditions for the popularization and application of automatic driving above L3 level. With the continuous escalation of automatic driving technology, the main factor that restricts the automatic landing of L3 level is the vacancy of regulations. The German government approves the first 3 level automatic driving operation in the world. It will provide reference for other countries and regions to formulate high order automatic driving safety regulations, and promote the rapid development of self driving vehicles worldwide. Automatic driving above L3 level will usher in a new development stage.
The chassis by wire is just needed for L3 + automatic driving, and the large amount of L3 + automatic driving will drive the large amount of demand for the chassis by wire
Automatic driving is the inevitable trend of the development of the automotive industry. The chassis by wire is the key component of L3 + automatic driving, which mainly includes braking system, steering system, drive system and suspension system. The biggest challenge of L3 level automatic driving is to allow both hands to leave the steering wheel temporarily, while higher level automatic driving will eventually liberate hands, feet and eyes and realize complete unmanned driving. When the driver is out of hand and foot control of the vehicle, the vehicle control is completely controlled by the perception layer, decision-making layer and execution layer of advanced automatic driving. Therefore, the chassis by wire will become an indispensable part of high-order automatic driving. High level automatic driving will drive the increasing market demand for chassis by wire.
3、 Investment advice
We believe that when the turning point of L3 level automatic driving comes, the industrial structure will be further reconstructed, and the industrial chain related to automatic driving will become the investment hotspot in the next stage. It is recommended to pay attention to Huizhou Desay Sv Automotive Co.Ltd(002920) (jointly covered by the computer and communication industries); the penetration rate of the chassis by wire in the automatic driving domain is expected to accelerate in the next round of vehicle inventory cycle. It is recommended to pay attention to Anhui Zhongding Sealing Parts Co.Ltd(000887) (suspension by wire) and Zhejiang Asia-Pacific Mechanical & Electronic Co.Ltd(002284) (braking by wire), and it is recommended to pay attention to Shanghai Baolong Automotive Corporation(603197) and Ningbo Tuopu Group Co.Ltd(601689) .
4、 Risk tips:
Raw material price fluctuations lead to low gross profit margin, less than expected new product expansion, exchange rate risk, etc.
