China Securities Co.,Ltd. pointed out that 2025 is a key milestone for the intelligent driving to achieve a leap from 1 to 10. Early pioneers such as Tesla's FSD, Huawei's ADS, Xpeng, and Li Auto have paved the way for advanced intelligent driving technology. As the penetration rate gradually increases, giants like BYD are formally entering the field of intelligence, and the scale effect of intelligence is beginning to show. In 2025, strong independent brands are expected to achieve further substitution of joint venture shares through mature electrification and low-cost intelligence. From the perspective of AI applications, Tesla's Earnings Reports will emphasize FSD and Siasun Robot&Automation, while the breakthrough in AI applications will likely be in autonomous driving and robots. The super-large industrial advantages from the Industry Chain will help the Sector achieve a Davis double play.