汇丰HSBC：中国自动驾驶行业研究：政策落地加速商业化进程-260224（英文版）（7页）.pdf

1、 Disclosures&Disclaimer This report must be read with the disclosures and the analyst certifications in the Disclosure appendix,and with the Disclaimer,which forms part of it.Issuer of report:The Hongkong and Shanghai Banking Corporation Limited View HSBC Global Investment Research at:https:/ Chinas

2、 policies are fast-tracking autonomous driving standardisation and commercialisation Tech and auto leaders that meet higher compliance standards are likely to benefit as adoption grows We like XPeng and Horizon Robotics,both rated Buy Policy surge speeds up commercialisation Recent policy initiative

3、s indicate a gradual build-up of a more comprehensive legal framework for autonomous driving.We think two landmark draft standards published in February 2026 signal a further regulatory push,setting clearer standards for safety,testing,and operational consistency across Level 3(L3)and Level 4(L4)aut

4、onomous vehicles,advancing the standardisation and scaling of autonomous driving commercialisation.Key policy developments 10 February:The China Society of Automotive Engineers released a draft standard for L4 driverless passenger vehicles,establishing the technical requirements for vehicle identifi

5、cation,emergency warning,remote operation,cybersecurity,and real-time monitoring.The phased testing process simulation,closed-course,and open-road addresses scenarios from basic obstacle avoidance to complex interactions and adverse conditions.Rigorous data recording and cross-regional recognition o

6、f test results aim to ensure safe,efficient operation,and regulatory consistency.12 February:The Ministry of Industry and Information Technology(MIIT)published a draft for public comment on the national safety requirements for L3 and L4 automated driving systems in intelligent vehicles.The standard