In this episode of "Thoughts on the Market," Adam Jonas and Tim Hsiao discuss the evolution of the global auto industry, focusing on the integration of AI and the shift from horsepower to brainpower. They highlight China's rapid adoption of level 2 plus smart driving features, driven by intense market competition and government support, projecting that China will account for 60% of these vehicles by 2030. The conversation also covers the rise of robotaxis, the global revenue opportunities in hardware and software, and the potential transformation of transportation into a utility-like service. They address the geopolitical dynamics between global OEMs and Chinese suppliers, emphasizing the need for collaboration to reduce dependency and the potential for Chinese hardware and know-how to integrate into the U.S. market while remaining sensitive to national security concerns related to AI.
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