小鹏，终于走到“技术兑现”的那一步了

SG Visual Research 图解研报

$小鹏汽车(XPEV)$ $小鹏汽车-W(09868)$

L3 自动驾驶拿到路测牌照，全年交付直接翻倍，毛利率首次站上 20%。

这些信号放在一起，意味着一件事：

技术开始转化成规模，而不是停在 PPT 里。

小鹏汽车2026年发布四款新车及物理AI规模量产计划

2026年1月8日，小鹏汽车发布四款新车，搭载第二代VLA大模型，计划实现物理AI的落地与规模量产，启动Robotaxi运营及人形机器人和飞行汽车量产。

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

BGXL
01-20
BGXL
ai自动生成？
起的DIY
01-15
起的DIY
Impossible

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