Huatai Securities: 2026 is a critical year for the global industrialization of L4 level automated driving.

Huatai Securities research report stated that on January 13, 2026, the U.S. House of Representatives deliberated on the "SELF DRIVE Act of 2026," proposing to increase the FMVSS exemption limit from 2500 to 90,000 vehicles and establish federal preemption. Rare consensus was reached between the two parties, and the legislative deadlock of nearly ten years is expected to be broken. At the same time, Waymo's weekly orders have reached 450,000, Tesla Cybercab is expected to start mass production in April, and the commercialization of Robotaxis in the United States is entering a phase of expansion. Huatai Securities believes that 2026 is a critical year for the industrialization of global Level 4 automated driving. The clarification of the federal legislative framework in the United States, combined with the landing of Level 3 pilot projects in China and the acceleration of Level 4 commercialization, suggests focusing on core targets in the automated driving industry chain.