On December 16, autonomous driving concept stocks surged collectively. By midday, Hanxin Technology (920092.BJ) rose by the 30% daily limit, while Vanjee Technology (300552.SZ), Zhejiang Shibao (002703.SZ), Beijing Cuiwei Tower (603123.SH), and Baic Bluepark (600733.SH) also hit the limit-up. Shunyu Precision (920906.BJ) and Sanyou Technology (920475.BJ) gained over 10%.
The market enthusiasm stems from a substantial breakthrough in China's L3 autonomous driving commercialization. The Ministry of Industry and Information Technology officially announced the first batch of L3 conditional autonomous driving vehicle approvals last night. Two models adapted for urban congestion and highway scenarios will begin road tests in designated areas of Beijing and Chongqing, marking a critical step from testing to commercial application.
According to China's national standard for driving automation classification, L3 represents "conditional automation," where the vehicle system can fully take over dynamic driving tasks under specific conditions, allowing drivers to remove their hands from the wheel while remaining alert and ready to intervene.
Among the first approved models, Changan Deep Blue's vehicle can achieve autonomous driving at up to 50 km/h in congested scenarios on designated highways in Chongqing. Baic's Arcfox Alpha S (L3 version) is approved for sections of Beijing's Jingtai Expressway, Airport North Line, and Daxing Airport Expressway at speeds up to 80 km/h. Both models will operate with safety drivers during testing since L3 requires human readiness to take control.
This follows a September policy document jointly issued by eight ministries, including MIIT, which explicitly cleared regulatory hurdles for L3 vehicle production approval. Concurrently, cities are expanding test zones: Shanghai's Pudong added 758.62 km of open test roads, while Beijing, Shenzhen, and Wuhan have designated highway test areas.
Automakers are racing to meet 2025-2026 L3 mass-production timelines. At the Guangzhou Auto Show, GAC Group revealed its Hyper A800 obtained L3 test permits for 120 km/h scenarios. Huawei's smart vehicle unit CEO stated its systems are undergoing final highway L3 testing across seven cities. Other brands like Voyah, Xpeng, and Zeekr have also announced L3 development plans.
CICC notes advanced driver assistance is becoming a key purchase factor, with some automakers already possessing L3 capabilities. The formal implementation of L3 regulations could catalyze industry growth in 2026. However, Shanxi Securities cautions about ongoing debates regarding L3's operational feasibility and liability allocation during system failures, emphasizing the need for clear responsibility boundaries despite its technological necessity.
(Disclaimer: Content is for reference only and does not constitute investment advice. Investors assume all risks.)
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