Smart cars were intensively released at the end of the year, and cockpit and smart driving became highlights
Recently, Weilai et5 and AITO brand M5 have been released one after another. Weilai et5 is equipped with 33 sensors (including lidar), the intelligent driving nad adopts four NVIDIA Orin chip computing platforms, which can realize 19 auxiliary driving functions. The first AR glasses in the intelligent cockpit create an immersive AR / VR experience. AITO's M5 is equipped with Huawei Hongmeng OS, which can realize the multi terminal interaction between mobile phones and cars, especially the sharing of hardware resources. From the release of these two models From the point of view, intelligent cockpit and intelligent driving system have become the main highlights and future development trend of intelligent vehicles.
The inflection point at both ends of supply and demand is approaching, and the automobile intelligent landscape will be high in 2022
Supply side: looking back to 2021, due to the shortage of chips, the cumulative production reduction in the global automobile market this year is 10.12 million. Looking forward to next year, we believe that the shortage of chips is expected to be alleviated, so as to drive the recovery of automobile production and sales.
Demand side: next year we think it will be the first year of mass production of high-level intelligent driving, and the wave of automobile intellectualization is coming. In this process, due to the pre demand for supporting parts and software solutions, we believe that incremental software and hardware products will take the lead in benefiting from the wave of intelligence.
Market penetration: in 2020, the market penetration of L2 intelligent Internet connected passenger vehicles in China will reach 15%. According to the overall development goal of China's automotive technology, by 2025, L2 / L3 intelligent networked vehicles will account for more than 50% of the annual sales of vehicles, and L4 vehicles will begin to enter the market.
Four main lines layout incremental tracks in the field of intelligent vehicles
1) Sensor: lidar has entered a period of rapid development. In the early stage, lidar is subject to high cost and vehicle specification standards, so it is difficult to front load and mass produce. Lidar will enter the boarding cycle in 2022. Chip based integration promotes cost control, and the semi-solid type meets the vehicle specification level standard. We estimate that the market scale of lidar in intelligent driving is expected to exceed 100 billion yuan, with broad development space.
2) Domain controller: high computing power platform promotes high-level intelligent driving and Qualcomm layout acceleration. At present, NVIDIA is still the first choice of high computing power platform, and the mass production cycle will start in 2022. Huawei and Qualcomm are accelerating the layout. Huawei MDC has been adopted by BAIC, great wall, Chang'an and other manufacturers. Qualcomm acquired Weininger to supplement the ability of the intelligent driving ride platform. In November, it reached a strategic cooperation with BMW in automatic driving, and is optimistic about the investment opportunities of Qualcomm partners.
3) Algorithm solution: intelligent navigation (ICC) and valet parking (AVP) are expected to take the lead in landing. Intelligent navigation function can realize point-to-point automatic driving in the whole scene, freeing hands to a certain extent. Valet parking can realize automatic parking in the new parking scene, improve parking efficiency and upgrade user experience.
4) Intelligent cockpit: the penetration rate continues to improve, and the operating system, one core multi screen and DMS take the lead in large-scale production. Euro NCAP requires new cars in the European market to be equipped with DMS from July 2022. China has made mandatory requirements for some commercial vehicle models to install DMS system. We are optimistic that DMS will become an important part of the follow-up intelligent cockpit.
It is recommended to pay attention to the subject matter
Thunder Software Technology Co.Ltd(300496) 、 Huizhou Desay Sv Automotive Co.Ltd(002920) 、 Autel Intelligent Technology Corp.Ltd(688208) 、 Arcsoft Corporation Limited(688088) 、 Navinfo Co.Ltd(002405) 、 Neusoft Corporation(600718) 、 Streamax Technology Co.Ltd(002970) 、 Hangzhou Hopechart Iot Technology Co.Ltd(688288) 、 Ningbo Joyson Electronic Corp(600699) 、 Vanjee Technology Co.Ltd(300552) 。
Risk tip: the recovery of chip supply is less than expected, the production and sales of intelligent vehicles are less than expected, and the price of software and hardware products is falling.
