CITIC SEC: Tesla, Inc. (TSLA.US) New-Generation Roadster Makes a Stunning Debut; Bullish on Technology Reuse Empowering Optimus Mass Production and Application Prospects

CITIC SEC released a research report stating that Tesla, Inc. (TSLA.US)'s new-generation Roadster made a stunning debut at the SpaceX test site in Texas, with high-difficulty maneuvers such as climbing an inverted slope and mid-air flips astonishing the audience. The Tesla, Inc. Roadster integrates core technologies from multiple product lines including SpaceX, Optimus, and FSD, and Tesla, Inc. possesses a strong technology reuse synergy effect in forward-looking technologies. Looking ahead to Tesla, Inc.'s subsequent products, the bank believes that products such as Optimus will likewise benefit from technology synergies between Musk's Tesla and SpaceX companies, including MegaFactory, end-to-end large models, Grok, AI5 chips, etc., and therefore holds a bullish view on the mass production and application prospects of Tesla, Inc.'s Siasun Robot&Automation. It is recommended to pay attention to the Roadster- and Optimus-related industry chains. CITIC SEC's main views are as follows: The new-generation Roadster makes a stunning debut, demonstrating high-difficulty maneuvers such as climbing an inverted slope and mid-air flips On the evening of October 15, U.S. Central Time, Tesla, Inc. held the new-generation Roadster launch event near the SpaceX test site in Texas. At the event, the Roadster climbed all the way up an inverted ramp, completed a mid-air flip, and finally landed smoothly; it took off on land, flipped once in the air, flew over an entire row of cybercab, cybertruck, semi, model Y, model 3 Tesla, Inc. fleet, and accelerated from 0 to 60 mph in a timed 0.81 seconds on site, with vehicle performance astonishing the audience. The Roadster's exterior design is inspired by the SR-71 and F-35. Musk expects the Roadster to enter mass production in 2028; pre-orders are now open, with a deposit of US$50,000. Behind the stunning performance is the reuse of multiple business technologies between Tesla and SpaceX In the Tesla, Inc. Roadster, the bank sees the cutting-edge technologies of multiple businesses under Musk's Tesla and SpaceX combined in one vehicle. The mid-air flip and extreme acceleration are achieved through the vehicle's cold gas propulsion system, with technology from SpaceX's aircraft attitude control; the inverted slope climb is achieved through the adhesion force generated by the fan system at the bottom of the vehicle; the movement of the body's aerodynamic kit in Track Mode comes from the technology reuse of Optimus actuators; the vehicle was fully driverless throughout the demonstration, with technology from Tesla, Inc.'s FSD (Full Self-Driving) technology. Tesla, Inc. once again proves its technological leadership and full-stack in-house development capabilities; the bank is bullish on subsequent products such as Optimus stunning the market From the underlying design and manufacturing of hardware, to self-developed chips, and then to the development and training of large model algorithms, Tesla, Inc. possesses full-stack in-house development capabilities, with multiple business lines achieving organic synergy and technology reuse, and through the Roadster launch event it has once again proven that its technological capabilities are in a leading position in the industry. The bank is bullish on technology and product synergies among Musk's Tesla and SpaceX companies, including MegaFactory, end-to-end large models, Grok, AI5 chips, etc., with Tesla, Inc.'s underlying technological capabilities being reused in its next-generation mass-produced products such as Optimus, and subsequent product launches are expected to likewise stun the market. Investment strategy The Tesla, Inc. Roadster launch event was stunning, backed by the reuse of cutting-edge technologies across multiple businesses. Tesla, Inc. has both full-stack in-house development capabilities ranging from the underlying design and manufacturing of hardware, to self-developed chips, and the development and training of large model algorithms, with multiple business lines achieving organic synergy and technology reuse; the Roadster launch event once again proves that its technological capabilities are in a leading position in the industry. The bank is bullish that this technology reuse will play a more important role in its mass-produced products. It is recommended to pay attention to Roadster-related companies and core players in the Siasun Robot&Automation industry chain. Risk factors The pace of Siasun Robot&Automation technological progress is slower than expected; the development potential of Siasun Robot&Automation application scenarios is lower than expected; risk of changes in technology routes; policy implementation intensity falling short of expectations; risk of intensifying competition in the automotive industry; international GEO Group Inc political risk.