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1、M UpdateChina Autos&Shared Mobility|Asia PacificRobotaxi Theres Strength in Numbers Morgan Stanley Asia Limited+Tim HsiaoEquity Analyst Tim.H +852 2848-1982 Peggy WangResearch Associate Peggy.Pc.W +852 3963-3934 Stanley WangResearch Associate Stanley.W +852 2848-7382 Shelley Wang,CFAEquity Analyst S

2、helley.W +852 3963-0047 Joey Xu,CFAEquity Analyst Joey.X +852 3963-0337 China Autos&Shared MobilityAsia PacificIndustry ViewIn-LineOn September 13,Baidus Apollo Go launched its robotaxi trial service in Jiangmen,Guangdong:This follows Apollo Gos July debut in Foshan and highlights the accelerating r

3、ollout of robotaxi across different tiers of Chinese cities.We believe supportive government policies,coupled with robotaxi companies actively scaling their presence,will drive the segments overall growth trajectory.Robotaxi partnerships are also deepening:This week,Alibaba announced its strategic i

4、nvestment in Hello,a robotaxi newcomer backed by Ant Group.The two companies will collaborate on algorithm platforms and smart-driving Al models,leveraging Alibaba Clouds technology.Meanwhile,Hesai revealed a US$40 million order from a leading US robotaxi company,under which it will act as the sole

5、supplier of both long-and short-range lidars.This marks the companys second major win this month following its cooperation with Motional.We see leading hardware makers with scalable product sales like Horizon (9660.HK,OW)and Hesai(HSAI.O,OW)benefitting from accelerating configuration upgrades amid t

6、he race,while robotaxi makers like WeRide(WRD.O,OW)push into new international markets.For further details,see From Horsepower to Brainpower AI Takes the Wheel.Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research.As a result,investors should be aware that th