[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioa81e3095":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioa81e3095","高盛对特斯拉(TSLA)发出“中性”信号：Cybercab成本优势显著，但软件规模化才是价值关键","\u002Fdoc\u002Fdcioa81e3095","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>美股投资网获悉，高盛集团近日就特斯拉(TSLA)发布研报，维持“中性”评级，12个月目标价360美元。该行认为，特斯拉通过Cybercab在无人驾驶出租车市场有望建立显著的成本优势，但自动驾驶软件的规模化扩展能力才是决定其业务前景与估值空间的核心变量。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Cybercab正式上路，无监督里程突破百万英里\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>9月3日，特斯拉在得克萨斯州奥斯汀举行发布活动，正式推出无人驾驶出租车Cybercab，并宣布在奥斯汀限定区域开始提供付费乘车服务。该车型取消了方向盘、制动踏板、油门踏板及后视镜等传统人工操控装置，采用双座布局，专为完全无人驾驶场景打造。特斯拉同时宣布，其Robotaxi车队的“无监督”累计行驶里程已突破100万英里。据得克萨斯州机动车辆管理部门数据，截至9月3日，特斯拉在得州登记的自动驾驶车辆为420辆，其中Cybercab为45辆。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>然而，发布活动结束仅数小时后，美国国家公路交通安全管理局(NHTSA)即宣布对约1000辆Cybercab启动合规审查，重点核查特斯拉对该车型是否符合联邦机动车安全标准的自我认证流程与技术依据。受此影响，特斯拉股价在9月4日大跌5.92%，报收354.08美元，市值单日蒸发约880亿美元。而此前一个交易日，股价还因Cybercab发布而大涨5.42%。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>特斯拉人工智能部门负责人阿肖克·埃卢斯瓦米随后确认，待FSD v15完成下一轮技术整合后，Robotaxi服务有望在10月前后实现24小时全天候运营。FSD v15被特斯拉描述为一次“架构级跃迁”，模型参数规模约为当前版本的10倍，设有7条并行改进路线。目前Robotaxi服务已在美国六座城市(奥斯汀、达拉斯、休斯敦、迈阿密、奥兰多与坦帕)投入常态化运营，每日服务时段为6时至22时。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>高盛软件才是规模化关键\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>高盛分析师在研报中指出，特斯拉专注于打造低成本车辆，依托其一体化制造工艺及纯视觉感知系统，有望强化Robotaxi业务的经济效益。若特斯拉能在量产阶段将Cybercab成本控制在2万至3万美元的目标范围内，相较于前期成本达5万至10万美元的自动驾驶竞争对手，特斯拉每英里可具备0.05至0.30美元的成本优势。据行业分析，Cybercab单车成本估算约为2.3万至2.5万美元，而Waymo单车成本约在7万至15万美元之间。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>但高盛同时强调，对投资者而言，更大的悬念在于特斯拉的人工智能方案能否支持其自动驾驶软件快速实现地理区域的规模化扩展。更广泛的运营覆盖将带来更多收入，同时将车辆成本基础分摊至更多行驶里程，使软件经济学在Robotaxi盈利模式中占据比车辆本身价格更为重要的位置。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>高盛设定的情景分析显示，乐观情景下特斯拉股价有望触及500美元，悲观情景则可能跌至约150美元。主要下行风险包括电动车需求放缓、竞争加剧、关税压力、FSD及其他产品推出延迟，以及运营和利润率方面的压力。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>市场对特斯拉的分歧依然显著。据LSEG统计，目前共有24位分析师给予特斯拉“买入”或更高评级，23位给予“持有”评级，另有7位维持“卖出”或更低评级。GLJ 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]