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Autonomous driving and intelligent vehicles are the ultimate focus
Nevertheless, regarding the battery business, institutions also believe that they should take a longer-term view. In Xu Tao's view, electric vehicles will definitely be smart cars rather than "battery cars" in the future, and installing a battery is not considered innovative.
In the future, technological change may also accelerate, and the electric vehicle industry chain will follow the trend of batteries. However, in the next 5-10 years, new technologies such as solid-state batteries and fuel powered lithium batteries will gradually mature, which will have a huge impact on the current liquid lithium batteries. A large number of fixed assets will face significant depreciation pressure, and I also believe that electrolytes and separators will not be replaced in the short term. However, if the demand in 10 years is facing significant uncertainty Qualitatively, if we use the current valuation system for valuation, the risk will be too high. He said.
However, at present, Chinese and foreign institutions are still most concerned about smart cars or autonomous driving technology, and mid-range companies such as batteries are still only supporting role in the medium and long term, which also explains why the US market is willing to give such a high valuation to "China's new car making forces".
Several Chinese and foreign investment managers emphasized to reporters that the current focus is not on new energy vehicles, but on smart vehicles. At present, lithium-ion battery powered new energy vehicles seem to be a more suitable direction for intelligent vehicles, but they are not the only choice. In the future, who can achieve autonomous driving is the key. As the level of autonomous driving improves, stronger software and hardware capabilities are needed, which is also a more noteworthy area
For example, cameras are important sensors for autonomous driving. According to Infineon data, the value of L2 level single car sensors ranges from $160 to $180, while L2+has nearly doubled its value to $280 to $350, while L4 to L5 levels are as high as $1150 to $1250. In the perception layer, visual perception plays an important role, with various other sensors (millimeter wave, ultrasound, laser, etc.) serving as auxiliary roles. Taking TSLA's Model 3 as an example, there are a total of 9 cameras. The higher the level of autonomous driving, the higher the requirement for camera pixels. TSLA adopts 8 cameras, and its CMOS image sensor (CIS) is from a product launched by Ansemy in 2015. Although the pixel size is only 1.2 million, a single pixel size is 3.75m. However, with the improvement of autonomous driving level, there is also a trend of upgrading the pixel count of in car cameras. Recently, NIO announced that the CIS used in the ET7 has reached 8MP, which expands the sensing range three times compared to the 1.2MP camera.
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