CICC highlights that the industrialization of L4 autonomous driving has emerged as a distinct trend, with the automotive sector's primary investment focus now centered on robotics and the new vehicle cycle. Tesla is poised to introduce a comprehensive self-driving paid service, expanding its reach to multiple locations. Meanwhile, Pony.ai and WeRide are intensifying their global Robotaxi deployments, while Jiushi and Neolith concentrate on driverless logistics solutions. Xiaomi has unveiled its new vehicle, aiming to disrupt the high-end market. Despite stagnant sales of passenger vehicles, automakers have stepped up promotional activities, and expectations regarding performance and new models are fueling the growth of the automotive sector. Capital investment in L4 technology is now keeping pace with industrial advancements, heralding a fresh wave of growth momentum for this sector.