global stock markets fell more and rose less last week. The FOMC meeting minutes were hawkish. Officials mentioned that interest rates could be raised in advance and faster, and discussed the possibility of table contraction. US bond yields soared by 15bp. In terms of industrial trend, on ces2022, the three chip giants AMD, NVIDIA and Intel successively released a number of high-performance processors and graphics cards. Qualcomm, Sony, Panasonic and TCL communications targeted VR / AR hardware. Chinese and foreign lidar enterprises such as Suteng juchuang and velodyne have shown their “best” products one after another. Intel, NXP, Beijing Hyundai and Baidu have gradually promoted the development of L4 intelligent driving.
core view
[global stock market performance] global stock markets fell more or rose less last week. In terms of US stocks, the Dow, NASDAQ and S & P fell 1.4%, 5.6% and 2.6% respectively. The market mainly focused on the minutes of FOMC meeting in December, U.S. employment data, Powell’s re-election hearing, the latest news of covid-19 epidemic and global epidemic and vaccination. In terms of the minutes of the FOMC meeting in December, minutes were significantly hawkish. Officials mentioned the possibility of raising interest rates in advance and faster, the interval from starting the interest rate increase to starting the table contraction was shorter than expected, and the table contraction was faster than before. In terms of U.S. employment data, the U.S. enterprise survey in December showed that the non-agricultural employment population increased by 190000 in December. However, the household survey data are relatively optimistic. In December, the overall employment increased by 651000 to 155.97 million; The number of unemployed decreased by 483000 to 6.3 million. In Powell’s re-election hearing, facing the high inflation in the past 40 years, Powell said that the Federal Reserve would use policy tools to slow inflation and support the economy, and prevent higher inflation from becoming entrenched. In terms of the latest news of covid-19 epidemic, Omicron may spread more frequently due to the change of spike protein. In the past seven days, nearly 2.5 million new cases were reported overseas every day. A new variant strain, b.1.640.2, also known as “Ihu” strain, was found by the Mediterranean Institute of infectious diseases medical and teaching in Marseille, France. in terms of global epidemic and vaccination, at present, the proportion of vaccination in European and American countries has increased rapidly. The countries with a high number of new cases last week are the United States, France, Britain, Italy and so on. In terms of industry performance, energy and finance sectors performed relatively well, while information technology, public utilities and health care sectors performed relatively poorly. In terms of change stocks, among the companies with a market value of more than $20 billion that rose sharply in the past week, there are more finance, real estate and energy. Among the companies with a market value of more than $20 billion that led the decline in the past week, there are more information technology, optional consumption and medical care.
[global industry trend] trend 1: meta universe. at the 2022ces exhibition, the three chip giants AMD, NVIDIA and Intel successively released a number of high-performance processors and graphics cards. Qualcomm, Sony, Panasonic, TCL communications, eyelights and AGC are targeting VR / AR hardware. trend 2: lidar. Chinese lidar enterprises such as Suteng juchuang, Hesai technology and innovusion, as well as foreign lidar enterprises such as velodyne, luminar, ibeo and AEVA, have taken the initiative to show their “best” products. A variety of products will be mass produced and delivered from 2022 to 2023. trend 3: L4 automatic driving. Intel, NXP, Beijing Hyundai and Baidu have promoted the development of L4 intelligent driving.
[important information] Sony: Sony launched a new pure electric SUV – vision-s, which is the second electric vehicle displayed by Sony after the vision-s car. Toyota: Toyota plans to launch its own auto software operating system “arena” by 2025. take two: take two agreed to buy Zynga for $12.7 billion, or the largest game M & A in history.
[industry trend concerns and suggestions] from a medium and long-term perspective, we currently suggest paying attention to the rise of the whole industry chain of carbon neutralization under global attention (photovoltaic, wind power, energy storage, hydrogen energy, etc.), the increase in the penetration rate of electric intelligent vehicles under the general trend of electrification and intelligence, as well as the industrial trends of meta universe, intelligent manufacturing, cloud computing, self-control, etc.
[risk tip] the individual stocks mentioned in this report only indicate that they are related to relevant topics and do not constitute individual stock investment suggestions.
directory
01
core concerns and investment suggestions
Last week, the industry indexes with higher A-share gains were: animal vaccine, covid-19 pneumonia detection, pig industry, etc.
last week and this week, the industrial trends of overseas markets worthy of attention are:
1. Metauniverse
The game is regarded as the most possible entry point of the meta universe, and the importance of the chip as the support of computing power is self-evident. at the 2022ces exhibition, the three chip giants AMD, NVIDIA and Intel successively released a number of high-performance processors and graphics cards: amd called its first processor r7-5800x3d based on 3Dv cache technology “the world’s fastest game processor”. NVIDIA’s entry-level graphics card rtx3050 claims to be able to run the latest games with pictures higher than 60 frames with 2K resolution and light chasing on. Intel has launched at least 28 core 12th generation mobile CPUs and 22 desktop CPUs. Intel’s 12th generation CPU adopts Intel 7 process, which improves the performance by 10-15% compared with superfin process.
Qualcomm, Sony, Panasonic, TCL communications, eyelights and AGC are targeting VR / AR hardware.
Qualcomm said that it is cooperating with Microsoft to develop customized chips for AR glasses, and will also integrate ar chips with Microsoft mesh, snapdragon spaces XR development platform and other software. Panasonic announced that it would launch three products such as head mounted display devices and microphones supporting VR technology in the spring as soon as possible. Sony disclosed the detailed specifications of the second generation PS VR: including four cameras and a controller for eye tracking, tracking infrared camera, and the specially created original game horizon: Mountain call will also be launched soon. TCL COMMUNICATION shows the pioneer version of Thunderbird smart glasses, which adopts the latest holographic optical waveguide technology and two built-in full-color micro LED display modules. Eyelights and AGC work together to create an AR windshield display. Wearing sunglasses, you can also see the projection distance 50 meters away from the driver.
2, lidar
At CES 2022, Chinese lidar enterprises such as robosense, Hesai technology and innovusion, as well as foreign lidar enterprises such as velodyne, luminar, ibeo and AEVA, took the initiative to display their “best” products online or offline. Suteng juchuang’s new generation rs-lidar-m1 is the only solid-state lidar in the world to achieve vehicle specification level mass production and delivery. It has obtained many fixed point orders for passenger vehicles and commercial projects from Byd Company Limited(002594) , GAC AIAN, Weima automobile, jikrypton, lutes, yingche technology, Zhitu technology and other enterprises, covering super run, sedan, SUV, heavy truck and other models. The at128 of Hesai technology is the industry’s first long-range ADAS semi-solid lidar built based on VCSEL. It has won millions of fixed-point orders, including ideal, Jidu, Gaohe, lutes, etc., and will be mass produced and delivered in 2022. Its vehicle gauge 128 line ultra wide angle short range lidar qt128 will also be mass produced and delivered in the first quarter of 2023. Among foreign manufacturers, luminar announced a cooperation with Volvo on 2022 ces. Volvo will carry luminar’s iris lidar on the next generation of pure electric SUV. Valeo’s third-generation Scala lidar will be launched in 2024. However, Valeo’s main customers are Mercedes Benz, BMW and Audi, and there is no partner in the Chinese OEMs. Many Chinese car companies have announced that they will launch models equipped with lidar this year, including GAC AIAN LX plus, Weilai et7 and et5, Xiaopeng G9, SAIC Zhiji L7, Great Wall Machine Jialong, Nezha s, ideal X01, extraordinary R7, Weima M7, etc.
3, L4 automatic driving
the future technology trend of intelligent automobile industry has attracted more and more attention. Intel, NXP and Beijing Hyundai have promoted the development of L4 intelligent driving. Mobileye, Intel’s automatic driving department, released three products in terms of chips: eyeq ultra system integrated chip, which can meet L4 automatic driving requirements and application scenarios; The other two eyeq series chips (eyeq 6L and eyeq 6h) are mainly used for advanced driving assistance system (ADAS). Mobileye will cooperate with krypton to launch the world’s first L4 level consumer intelligent driving electric vehicle in 2024, equipped with 6 Mobileye eyeq 5 chips and using Mobileye map data. NXP has launched two new automotive radar processors (s32r41 and s32r45), which can be used for intelligent driving from L2 + to L5. Du Junbao, permanent deputy general manager of Beijing Hyundai, said that at the end of 2023 or early 2024, Beijing Hyundai will launch the second pure electric vehicle with internal code name “CJ”, which has L4 level automatic driving function.
investment suggestions: from a medium – and long-term perspective, we currently propose to pay attention to the rise of the whole industrial chain of carbon neutralization under global attention (photovoltaic, wind power, energy storage, hydrogen energy, etc.), the increase of the penetration rate of electric intelligent vehicles under the general trend of electrification and intelligence, as well as the industrial trends of meta universe, intelligent manufacturing, cloud computing, autonomous control, etc.
02
global observation: overseas market tracking
1. Global asset performance
global stock markets fell more and rose less last week. In terms of US stocks, the Dow, NASDAQ and S & P fell 1.4%, 5.6% and 2.6% respectively. The market mainly focused on the December FOMC hawk minutes, US employment data, Powell’s re-election hearing, the latest news of covid-19 epidemic, as well as the global epidemic and vaccination. In terms of the minutes of the FOMC meeting in December, officials attending the meeting did not think that the Omicron mutant strain had fundamentally changed the recovery path, but acknowledged that the latest progress of the epidemic had brought downward risks to the economic outlook. It is worth noting that the statement of the minutes is significantly hawkish. Officials mentioned the possibility that interest rates can be increased in advance and faster, the interval from the start of interest rate increase to the start of table contraction is shorter than expected, and the table contraction speed is faster than the previous table contraction cycle. In terms of U.S. employment data, the U.S. enterprise survey in December showed that the non-agricultural employment population increased by 190000 in December, significantly lower than the market expected 400000, the smallest increase since January 2021. However, the household survey data are relatively optimistic. In December, the overall employment increased by 651000 to 155.97 million; The unemployment rate fell by 0.3% to 3.9%, and the number of unemployed decreased by 483000 to 6.3 million. Regarding Powell’s re-election hearing, on January 10, Federal Reserve Chairman Powell spoke at the hearing, saying that the economy after the epidemic may be different from the previous expansion, and the U.S. labor market is strong. Facing the high inflation in the past 40 years, he said that the Federal Reserve will firmly achieve the maximum employment and price stability goals, slow inflation and support the economy through policy tools, and prevent higher inflation from becoming entrenched. In terms of the latest news of covid-19 epidemic, due to the changes of spike protein, Omicron may be more prone to infect the upper respiratory tract, so it spreads more frequently. At present, the number of new cases abroad continues to rise, with an average of nearly 2.5 million new cases in the past seven days. In addition, on December 9 last year, the Mediterranean Institute of infectious diseases medical and teaching in Marseille, France, said that a new mutant strain was found. The strain number is b.1.640.2, also known as “Ihu” strain. in terms of global epidemic situation and vaccination, at present, the proportion of vaccination in European and American countries is rising rapidly, among which the proportion of fully vaccinated population in Germany, France, Britain and the United States is 71.3%, 74.1%, 69.9% and 62.0% respectively. Countries with a high number of new cases last week were the United States, France, Britain, Italy and so on.
the European stock market fell more or less, the FTSE 100 rose 0.8%, and the French CAC40, German DAX and Italian indexes fell 1.4%, 1.6% and 1.7% respectively. the pace of European economic recovery slowed down in December, with the final value of comprehensive PMI 53.3 and service PMI 53.3 1 were lower than expected, with Germany’s comprehensive PMI below the boom and bust line.
The Nikkei 225 index fell 1.1%.
last week, commodities rose or fell, crude oil rose, precious metals rose or fell, industrial metals fell more or less, Shenzhen Agricultural Products Group Co.Ltd(000061) rose or fell. The interest rate on the US 10-year Treasury note rose 15bp to 1.78%.
In terms of crude oil, oil distribution and WTI crude oil rose by 2.6% and 2.7% respectively last week. At present, oil distribution and WTI crude oil rose to USD 81 and 78 / barrel respectively. International tensions have led to a rise in oil prices. precious metals fluctuated last week, gold rose 0.1% and silver fell 1.4%. Industrial metals fell more or less, metal aluminum and metal nickel rose by 4.5% and 0.2% respectively, and metal copper, metal lead and metal zinc fell by 1.6%, 1.2% and 1.3% respectively. As the Yamal natural gas pipeline from Russia to Europe is cut off, European energy prices continue to soar, and European electrolytic aluminum production is reduced, resulting in an increase in aluminum prices. Shenzhen Agricultural Products Group Co.Ltd(000061) was mixed, rice and ice11 sugar fell by 0.5% and 4.6% respectively, and soybeans and wheat rose by 2.0% and 0.4% respectively. The yield of 10-year US Treasury bonds rose 15bp to 1.78%. The US dollar index fell 0.3% to 96, and the RMB appreciated 0.02% against the US dollar. At present, the central parity rate of the RMB against the US dollar is 6.37.
2. Global stock market industry performance
last week, the global stock market fell more or rose less, the energy and finance sectors performed relatively well, and the information technology, public utilities and health care sectors performed relatively poorly.
Specifically, in U.S. stocks, except for the rise in energy, finance and industry, other sectors fell, and the optional consumption, information technology and real estate sectors fell significantly. In terms of European stocks, {23456} except for the rise in energy and finance, other sectors fell, including the information technology sector. in the UK stock market, energy, finance, materials and telecommunications services performed well, while information technology and industry performed poorly. in Japan’s stock market, medical care, information technology and industry fell, daily consumption was flat, and other sectors rose, among which the financial sector performed well. In terms of Hong Kong stocks, telecommunications services, real estate, energy and finance performed well, while public utilities, daily consumption and health care performed poorly. In terms of A shares, real estate, energy, telecommunications services and finance performed well, while public utilities, information technology and industry performed poorly.
3. A brief analysis of global strong stocks and changing stocks
Among the companies with a market value of more than $20 billion that rose sharply in the past week, finance, real estate and energy are more. Among the companies with a market value of more than $20 billion that led the decline in the past week, information technology, optional consumption and medical care are more.
A brief analysis of change shares
[LG Chemical] LG energy solution, a subsidiary of LG Chemical, has begun to accept subscriptions from investors. It plans to log on to the Korean stock exchange on January 27 and start trading. It plans to raise up to US $10.8 billion, which may become the largest initial public offering (IPO) in South Korea’s history. LG Chemical rose 14.9% last week.
[Philips 66] Philips 66 repaid $1.5 billion in debt last year and is expected to return to the debt level of $12 billion before the covid-19 epidemic in the next two years. It started the rodeo refinery reconstruction project. It is reported that the project plans to produce 800 million gallons of renewable diesel, sustainable aviation fuel and sustainable gasoline every year when it is put into use in 2024. The company has allocated US $408 million for the project from the total planned capital expenditure budget of US $1.9 billion in 2022. Philips 66 rose 10.7% last week.
03
important information express
1. Industrial policy and news
(1) ces2022: Lidar head manufacturers display core products, and a number of lidars will be delivered in mass production in 2022 (☆☆☆)
At CES 2022, Chinese lidar enterprises such as robosense, Hesai technology and innovusion, as well as foreign lidar enterprises such as velodyne, luminar, ibeo and AEVA, took the initiative to display their “best” products online or offline. Suteng juchuang’s new generation rs-lidar-m1 is the only solid-state lidar in the world to achieve vehicle specification level mass production and delivery. It has obtained many fixed point orders for passenger vehicles and commercial projects from Byd Company Limited(002594) , GAC AIAN, Weima automobile, jikrypton, lutes, yingche technology, Zhitu technology and other enterprises, covering super run, sedan, SUV, heavy truck and other models. It is worth noting that M1 is also the winner of the innovation award of the previous two ces. The at128 of Hesai technology is the industry’s first long-range ADAS semi-solid lidar built based on VCSEL. It has won millions of fixed-point orders, including ideal, Jidu, Gaohe, lutes, etc., and will be mass produced and delivered in 2022. Its vehicle gauge 128 line ultra wide angle short range lidar qt128 will also be mass produced and delivered in the first quarter of 2023. Among foreign manufacturers, luminar announced a cooperation with Volvo on 2022 ces. Volvo will carry luminar’s iris lidar on the next generation of pure electric SUV. Valeo’s third-generation Scala lidar will be launched in 2024. However, Valeo’s main customers are Mercedes Benz, BMW and Audi, and there is no partner in the Chinese OEMs. Many Chinese car companies have announced that they will launch models equipped with lidar this year, including GAC AIAN LX plus, Weilai et7 and et5, Xiaopeng G9, SAIC Zhiji L7, Great Wall Machine Jialong, Nezha s, ideal X01, extraordinary R7, Weima M7, etc.
(2) ces2022: focus on automatic driving. Several L4 models will be launched from 2023 to 2024 (☆☆☆)
Mobileye, Intel’s automatic driving department, has released three products in terms of chips: eyeq ultra system integration chip, which can meet L4 automatic driving requirements and application scenarios; The other two eyeq series chips (eyeq 6L and eyeq 6h) are mainly used for advanced driving assistance system (ADAS). Mobileye will cooperate with krypton to launch the world’s first L4 level consumer intelligent driving electric vehicle in 2024, equipped with 6 Mobileye eyeq 5 chips and using Mobileye map data.
At the conference, Qualcomm, a mobile phone chip giant, demonstrated its smart driving “family bucket” – Xiaolong digital chassis, which supports high customization and is composed of a set of open and expandable platforms, including Xiaolong driving platform, Xiaolong automobile Zhilian platform, Xiaolong driving vision system, Xiaolong cockpit platform, Xiaolong automobile cloud service, etc. Among them, Xiaolong driving platform can meet the requirements of L2-L3 automatic driving; Xiaolong driving vision system will start mass production in 2024. Enzhipu has launched two new automotive radar processors (s32r41 and s32r45), which can be used for intelligent driving from L2 + to L5. At present, it has been adopted by 20 leading OEMs in the world. Among them, the flagship new s32r45 is the industry’s first 16nm imaging radar processor, which has been put into mass production.
(3) ces2022: sound the assembly number of the yuan universe, and the chip giant’s technical struggle (☆☆☆)
At CES 2022, the three chip giants AMD, NVIDIA and Intel successively released a number of high-performance processors and graphics cards: AMD called its first processor r7-5800x3d based on 3Dv cache technology “the world’s fastest game processor”, and its radeon rx6500 XT and radeon rx6400 desktop graphics cards positioned 1080p game experience; NVIDIA’s entry-level graphics card rtx3050 claims to be able to run the latest games with pictures higher than 60 frames with 2K resolution and light chasing on. Its meta universe creation tool “3D modeling platform Omniverse” took off the beta (test) logo and officially provided services to creators. Intel has launched at least 28 core 12th generation mobile CPUs and 22 desktop CPUs. Intel’s 12th generation CPU adopts Intel 7 process, which improves the performance by 10-15% compared with superfin process.
Qualcomm, Sony, Panasonic, TCL communications, eyelights and AGC are targeting VR / AR hardware. Qualcomm said it is cooperating with Microsoft to develop customized chips for AR glasses, and will also integrate ar chips with Microsoft mesh, snapdragon spaces XR development platform and other software. Panasonic announced that it would launch three products, including head mounted display devices and microphones, supporting VR technology as soon as spring. Sony has unveiled the second generation of PS VR: including four cameras and a controller for eye tracking, tracking infrared camera, and the original game horizon: Mountain call specially created for it will also be launched soon. TCL COMMUNICATION shows the pioneer version of Thunderbird smart glasses, which adopts the latest holographic optical waveguide technology and two built-in full-color micro LED display modules. Eyelights and AGC work together to create an AR windshield display. Wearing sunglasses, you can see the projection distance beyond 50m. On CES 2022, NFT, encrypted digital currency and other blockchain technologies will be divided into a separate category for exhibition for the first time, which has become an important focus of this ces.
(4) take two agreed to spend US $12.7 billion to acquire Zynga, or become the largest game M & a transaction in history (☆☆)
On January 10, American game developer take two interactive software company agreed to spend US $12.7 billion to acquire social game developer Zynga, hoping to expand its mobile product portfolio through the latter’s popular games such as words with friends and Farmville, help take two realize its ambition of free games and cross platform, and bring take two’s host / PC games to the mobile platform, And add a new game mode. Take two said that the mobile game business is expected to account for more than 50% of the company’s net booking revenue by fy2023, compared with 12% in fy2022. Take two will acquire all outstanding shares held by Zynga shareholders for $9.86 per share, including $3.50 in cash and $6.36 in take two shares. The two companies said the deal was worth about $12.7 billion after adjusting for Zynga’s convertible shares, cash and debt. The cash and stock deal could become the largest acquisition in the video game industry and is expected to be completed by the middle of this year.
(5) semiconductor foundry handed in all papers: Q4 revenue reached a new high (☆☆)
On January 10, with TSMC announcing its revenue in December 2021, the annual performance of the world’s four major wafer foundry manufacturers finally surfaced. Specifically, TSMC achieved a revenue of 35.8 billion yuan in December 2021, an increase of 32.4% year-on-year and 4.8% month on month; Q4’s revenue in a single quarter was 101 billion yuan – in December, Q4’s revenue both hit a record high. Another wafer foundry giant, liandian, announced its results last week, also hitting a record high in monthly, quarterly and annual revenue. Its revenue in December was 4.7 billion yuan, a month on month increase of 3.1% and a year-on-year increase of 32.7%; Q4 revenue was 13.6 billion yuan, a month on month increase of 5.7% and a year-on-year increase of 30.48%. Global foundries has not announced its performance, but according to the company’s previous forecast, its revenue in Q4 last year was US $1.8 billion-1.83 billion, with a month on month increase of 5.9% – 7.6% and a year-on-year increase of 69.5% – 72.3%; Single quarter revenue is also expected to refresh the historical record. Samsung Electronics has also released a performance forecast before the new year’s Day festival. It is expected that Q4 will achieve revenue of 76 trillion won (about 404.32 billion yuan), a year-on-year increase of 23.48% and a month on month increase of 2.73%, which is expected to reach a record high in revenue in a single quarter. The company attributed it to the strong demand for memory chips and the increased profits of the wafer foundry industry.
(6) Sony entered the automotive industry and the new pure electric SUV concept car appeared in CES (☆)
At the Consumer Electronics Show (CES) in Las Vegas in 2022, Kenichiro Yoshida, chairman and CEO of Sony, said at the electronics show that a new Department called Sony mobile would be established to fully enter the field of electric vehicles and realize the commercialization of electric vehicles. Yoshida xianichiro said that the new Department Sony mobile will be committed to making full use of artificial intelligence and Siasun Robot&Automation Co.Ltd(300024) technology in the development of electric vehicles, hoping to make use of Sony’s strengths in semiconductor research and development, and the ultimate goal is to turn human mobile space into entertainment space. At present, the competition around electric vehicles is becoming more and more fierce, and Yoshida xianichiro pointed out at the press conference that “we need to combine sensors, cloud devices, 5g, entertainment technology and content”. Sony Group itself is engaged in the development of these technologies. He stressed that “this is a good opportunity to redefine the means of transportation”. At the electronics show, Sony launched a new pure electric SUV – vision-s, which is the second electric vehicle displayed by Sony after the vision-s car. With the launch of the new pure electric SUV vision-s and the establishment of the new company, Sony’s pace of entering electric vehicles has accelerated significantly.
(7) Tencent plans to acquire Black Shark technology to build VR equipment (☆)
On January 10, according to several sources, Tencent plans to acquire game phone company Black Shark technology. After the acquisition, black shark will be integrated into Tencent group platform and content business group (PCG) led by Ren Yuxin.
Once the transaction is completed, the hardware manufacturer focusing on game phones will also usher in business transformation after the acquisition. It is reported that the future business focus of black shark technology will shift from game phones to VR devices as a whole – at that time, Tencent will provide content support, and black shark will provide VR hardware entrance. It is reported that Nanchang Black Shark Technology Co., Ltd., established in 2017, is a mobile phone technology brand focusing on game E-sports. The largest shareholder is “Tianjin Jinxing Venture Capital Co., Ltd., which is wholly controlled by Xiaomi, with a shareholding ratio of 46.4%. Every new mobile phone of black shark will be forwarded and publicized by Lei Jun, CEO of Xiaomi technology. Tencent intends to acquire Black Shark technology this time, which means that it will also officially break away from Xiaomi system. Finally, it is worth mentioning that black shark technology and Tencent games have been in-depth cooperation in mobile games.
(8) Toyota plans to launch its self-developed system arene within four years, aiming to become IOS and Android in the automotive industry (☆)
According to Nikkei Asia, Toyota plans to launch its own auto software operating system “arena” by 2025, which will be able to handle all application software from basic functions to automatic driving. Arene will be able to control the basic components of the car, such as steering wheel, brake and accelerator. At the same time, it can also manage the car’s location, traffic information and safety system. Owners can update the system online to quickly improve vehicle performance, just like smart phones. Regardless of the vehicle brand or model, the above functions can be used by vehicles equipped with the operating system. Toyota’s goal is to apply arene to the vehicles produced by the company before 2025, and then provide the software to affiliated vehicle enterprises including Subaru, other automobile manufacturers and start-ups. The company is even considering commercializing the system through licensing mode. Toyota will also open arene to software developers and encourage companies outside the industry to develop applications for autonomous driving and other functions. In the future, it will be as easy for car owners to add apps to their cars as downloading apps on smartphones. Toyota expects arene to become a more efficient platform as more and more users and developers join.
2. Global emerging industry trends and tracking of key companies
(source: Research on investment promotion strategy)
