Unmanned ride-hailing services see "surge in orders," with Tianmai Technology and Jinjiang Online hitting three consecutive trading limits, yet popular stocks collectively issue "denials."

Baidu's Luobo KuaiPao autonomous driving cars have officially begun operations, marking the first commercial step toward driverless ride-hailing services and taxis—and simultaneously fueling heightened interest from capital markets in the autonomous driving and ride-hailing sectors. Starting in July, multiple regions across China have actively rolled out pilot programs for driverless ride-hailing and taxi services. Notably, according to a recent announcement from Pudong, Shanghai issued its first batch of demonstration-use licenses for driverless intelligent connected vehicles during the 2024 World Artificial Intelligence Conference—commonly known as "fully driverless passenger vehicle permits." This milestone allows the four licensed companies to deploy fully driverless, passenger-carrying vehicles on select routes in Pudong, enabling residents to book rides via dedicated mobile apps.
Additionally, Beijing's Bureau of Economy and Information Technology recently released the draft "Beijing Autonomous Driving Vehicle Regulations" for public consultation. Beijing plans to support the use of autonomous vehicles in urban transportation services such as public electric bus operations, ride-hailing, and car rentals. According to a research report by Guotai Junan, driverless ride-hailing services are expected to offer lower prices and a superior passenger experience. As deployment scales up in the future, operational costs per vehicle are anticipated to decline significantly, potentially unlocking substantial economies of scale. Meanwhile, Luobo Kuaipao is projected to reach breakeven in Wuhan by the end of 2024 and achieve profitability in 2025. Moreover, Tesla may unveil its Robotaxi on August 8, which could further accelerate industry growth. Autonomous driving is poised to become the market's primary theme over the next three months.

On July 11, the concepts of autonomous driving and ride-hailing continued to gain momentum, with Tianmai Technology (300807.SZ), Jinjiang Online (600650.SH), and Xingwang Yuda (002829.SZ) each achieving three consecutive trading limits. Meanwhile, Dazhong Transportation (600611.SH) notched two straight gains, and Lifan Technology (601777.SH) secured two trading limits within just three days. On July 11, reporters from Interface News reached out to several popular companies to inquire about their strategies in the unmanned ride-hailing sector. Earlier this year, in March, Jinjiang Online's subsidiary, Jinjiang Taxi, partnered with Pony.ai to hold a launch ceremony for Jinjiang's intelligent taxi service in Jiading District. Under this collaboration, Pony.ai provided the autonomous driving technology solutions, while Jinjiang Taxi took charge of daily operations and management. Together, the two companies officially rolled out a near-commercial Robotaxi service across a 1,076-kilometer network of open testing roads in Jiading District, deploying an "intelligent connected taxi fleet" powered by self-driving vehicles to offer mobility solutions to Shanghai residents.
Regarding the operation of driverless ride-hailing services, a staff member from Jinjiang Online's secretary office stated that the company's autonomous driving taxis are currently still in the trial-operation phase. "Recently, we've noticed significant market interest in unmanned ride-hailing vehicles; however, for a publicly listed company like ours, the current business volume remains minimal." The same staff member further noted that both the technology and public acceptance of self-driving taxis and ride-hailing services will continue to evolve dynamically over time—but clearly, these services aren't yet mature enough for large-scale commercial deployment by a listed company in the near term. Meanwhile, a representative from Dazhong Transportation told Interface News that they haven’t heard of any plans to enter the driverless ride-hailing sector. According to available information, Dazhong Transportation’s Dazhong Travel platform previously became Shanghai’s first licensed ride-hailing service provider, and its operations have since expanded beyond the Yangtze River Delta region, gradually securing ride-hailing permits in cities such as Suzhou, Hangzhou, and Shaoxing. On the other hand, Lifan Technology emphasized that the company has no ongoing collaborations with companies like Baidu—or any other entities—related to autonomous driving or ride-hailing services.
Tianmai Technology, which has experienced 20% daily trading limits for three consecutive days, also issued a response on the evening of July 10: "The company has noted the recent heightened market interest in concepts related to intelligent driving. Currently, our business primarily focuses on the smart bus sector. Leveraging ADAS (Advanced Driver Assistance Systems) and driver behavior analysis, we have developed an active safety-assistive driving system that relies on sensors such as radar and cameras to perceive the surrounding environment, monitor vehicle and driver conditions, and ultimately help enhance driving safety. This system is mainly applied in commercial vehicles like buses and does not involve any applications in autonomous driving systems." On the evening of July 11, Xingwang Yuda similarly stated that its satellite communication, inertial navigation, optoelectronic pods, and radar technologies are all critical components for autonomous driving. In terms of complete vehicles, the company can provide technical support for autonomous driving in areas such as navigation and measurement & control. Additionally, it can enable features like path planning, automatic tracking, and self-built map creation—making these solutions suitable for both structured and unstructured road environments. As demand for products like inertial navigation continues to grow within the autonomous driving sector, this is expected to positively impact the company's future performance. However, large-scale adoption and commercialization of these technologies still face significant uncertainties.
Additionally, Wan'an Technology (002590.SZ) stated on its interactive platform that the company supplies related products such as subframes and braking systems for Baidu's autonomous vehicles. Meanwhile, Tianjun Technology (688003.SH) announced on July 11 via its interactive platform that while the company is not directly involved in the Luobo Kuaipao project, it has established deep collaboration with Baidu and serves as an ecosystem partner of Baidu's Apollo platform, providing domain controllers based on NVIDIA Jetson solutions to the Apollo platform.

Translated from Sina Auto

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