Introduction

March 3rd marked a significant day in the stock market!

A-share indices opened higher in unison, and Hong Kong stocks followed suit, painting a vibrant picture. Amidst this wave of enthusiasm, how did the autonomous driving industry fare?

Let's delve into it with Unmanned Car is Coming (WeChat Official Account: Unmanned Car is Coming)!

(For reference, please click:

"A 2 Trillion Yuan Carnival in A Shares: The 'Golden Age' of Autonomous Driving is Coming...")

I. A Shares and Hong Kong Stocks Surge: Has the Autonomous Driving Industry Reached New Heights?

On March 3, 2025, A-share indices opened collectively higher, with the entire lithium battery industry chain showing strength. Small metals, solid-state batteries, and Xiaomi Motors concept stocks led the gains.

In Hong Kong stocks, the Hang Seng Tech Index surged by more than 2%, XPeng Motors jumped nearly 7%, and Meixue Group soared 30% on its debut, nearing a market value of HK$100 billion.

However, behind this capital carnival, the autonomous driving industry has reached new heights of intensity – BYD sold 322,800 vehicles in February, a year-on-year increase of 161%; XPeng Motors delivered over 30,000 vehicles, surpassing the 30,000 mark for the fourth consecutive month.

Yet, industry competition has intensified, and profit pressures continue to mount. The commercialization of autonomous driving technology still confronts numerous challenges.

As one analyst noted, "This surge in market sentiment appears lively, but it hides underlying dangers – the autonomous driving industry is experiencing a dual squeeze from 'technology + capital.'"

II. Technological Cultivation: Breaking the Deadlock from 'Price and Volume Falling' to 'Volume Rising and Price Stabilizing'

Since 2024, the autonomous driving industry has traversed a cycle from 'price and volume falling together' to 'volume stable and price falling,' followed by 'volume compensating for price,' and now 'volume rising and price stabilizing.'

With upstream resources stabilizing and industry consolidation, the autonomous driving industry is gradually entering a 'period of continuous improvement in profitability.'

BYD: Sales skyrocket, technology reigns supreme

BYD sold 322,800 vehicles in February, a year-on-year increase of 161%, firmly securing the top spot in the new energy vehicle market.

Its DiPilot intelligent driving system supports self-learning and OTA upgrades, with shipments exceeding one million units. Car owners have reported that it is 'more stable than an experienced driver.'

XPeng Motors: Deliveries exceed 30,000, autonomous driving shines

XPeng Motors delivered 30,453 vehicles in February, surpassing the 30,000 mark for the fourth consecutive month.

Its XNGP autonomous driving system excelled in real-world tests on the Guangzhou-Shenzhen Expressway, effectively handling lane changes.

Tesla FSD: The 'lone warrior' of the vision-based route

Tesla's FSD has accumulated over 20 billion miles of global testing, but the Chinese version has lagged due to data localization requirements. Musk urged the Chinese team, saying, 'Train AI using Douyin videos!'

III. Capital Carnival: Has the Autonomous Driving Industry Reached New Heights?

In this capital carnival, the autonomous driving industry's performance has been a mixed bag:

A Shares: The entire lithium battery industry chain strengthens

Jinyinhe, Yongshan Lithium, and Dongfang Zirconium all hit their daily limits, while Changhong Energy, Zhongke Electric, and Yongtai Technology rose by more than 8%.

Institutional research reports indicate that the lithium battery industry is entering a 'period of continuous improvement in profitability.'

Hong Kong Stocks: XPeng Motors rises by over 7%

XPeng Motors Chairman He Xiaopeng announced on Weibo that the new XPeng G6 will soon be released, but due to supply chain issues, production will be tight in the first month, and they are working diligently to resolve it.

Meixue Group: Surges by 30% on its first day of listing

Meixue Group soared 30% on its Hong Kong stock market debut, nearing a market value of HK$100 billion.

Data shows that as of December 31, 2024, Meixue Bingcheng had 46,479 stores and achieved terminal retail sales of approximately RMB 58.3 billion in 2024.

IV. Industry Earthquake: Has the Autonomous Driving Industry Reached New Heights?

This capital carnival uncovers three harsh realities:

1. Technological Hegemony

Automakers like BYD, XPeng, and Tesla continue to push the boundaries of autonomous driving technology, outpacing traditional automakers.

2. Capital Crushing

A shares and Hong Kong stocks surged collectively, and the financing window for the autonomous driving industry closed early. Second-tier players were either acquired or became casualties.

3. User Harvesting

Covering the entire spectrum from high-end to mid-range, making users 'want to buy more after buying.'

As the CEO of an autonomous driving company commented on social media, 'The cruelest aspect of this industry is not the technical difficulty, but realizing that after struggling to develop a new product, your competitors have already surpassed you.'

V. Latest Prediction: When Will the Autonomous Driving Industry Begin to 'Harvest'?

In 2025, the industry will play out three major scenarios:

1. Policy Dividends: National subsidies + improved autonomous driving regulations, with the autonomous driving market size exceeding RMB 100 billion;

2. Technological Upgrades: Continuous iterations of technologies like BYD's DiPilot, XPeng's XNGP, and Tesla's FSD, further enhancing user experience;

3. Ecological Hegemony: BYD, XPeng, and Tesla form an 'algorithm + chip + vehicle factory' iron triangle, with second-tier players either being incorporated or becoming casualties.

In conclusion, Unmanned Car is Coming (WeChat Official Account: Unmanned Car is Coming) believes, as one analyst stated, 'Autonomous driving is not just a technological revolution but also a 'new quality productive force' in the mobility ecosystem.' The next time you see an autonomous vehicle zipping down the street, don't be surprised – it might be AI giving a 'master class' to the mobility industry.