League of Nations Minsheng Securities: Accelerating commercialization of L3 autonomous driving industry is expected to start a new stage of development

The Zhitong Finance App learned that Guolian Minsheng Securities released a research report saying that on December 15, 2025, the Ministry of Industry and Information Technology officially announced the entry permits for the first batch of L3 class conditional autonomous driving models in China. The two models, which are suitable for urban congestion and highway sections, will launch road trials in designated areas of Beijing and Chongqing. The implementation of the first batch of domestic L3 conditional autonomous driving model entry permits marks a key step in China's L3 autonomous driving from the testing stage to commercial application, and is of great significance in promoting the development of the entire autonomous driving industry.

The main views of the League of Nations Minsheng Securities are as follows:

Clarify L3 autonomous driving usage scenarios, and take an important step in commercializing autonomous driving

According to the official website of the Ministry of Industry and Information Technology, two automobile companies, Chongqing Changan Automobile Co., Ltd. and BAIC Blue Valley Magna Automobile Co., Ltd. submitted applications for admission to intelligent connected vehicle products equipped with L3 level conditional autonomous driving functions. The Ministry of Industry and Information Technology conditionally approved the relevant products in the 401st batch of “Notice”. 1) The Changan SC7000AAARBEV pure electric sedan can achieve autonomous driving function (maximum speed 50km/h) on motorways and urban expressways in traffic jams. Currently, this function is only available on sections such as the Chongqing Inner Ring Expressway, the New Inner Ring Expressway, and Yudu Avenue. 2) The Jihu brand BJ7001A61NBEV pure electric sedan can achieve autonomous driving functions (maximum speed 80km/h) in motorways and urban expressways. Currently, this function is only enabled on sections such as the Beijing-Taiwan Expressway, the North Airport Expressway, and the Daxing Airport Expressway. 3) In September 2025, eight departments including the Ministry of Industry and Information Technology issued a notice on the “Work Plan for Steady Growth in the Automobile Industry (2025-2026)”. The policy proposes to conditionally approve production permits for L3 class models and promote the improvement of laws and regulations on road traffic safety and insurance.

A number of car companies are boosting L3, and the industry is expected to usher in an inflection point of accelerated development

A number of domestic companies have made substantial progress in the field of L3 autonomous driving, and various models from car companies such as Changan, BYD, Guangzhou Automobile, Dongfeng, SAIC, Geely, Xiaopeng, and Ideal have obtained on-road testing permits. Huawei's Qiankun Smart Driving ADS high-speed L3 solution has begun closed testing and is simultaneously building a future full-scene service ecosystem; the GAC Haobo A800 has won the Guangzhou L3 autonomous driving road test license for specific scenarios, becoming the first batch of mass-produced cars in the country that can carry out L3 tests at a speed of 120 kilometers per hour. Four-dimensional Tuxin and its intelligent robot are working together to achieve mass production of PhiGo Max in 2026. It is a “new intelligence” plan for the “L3 level intelligent driving” high-end market. It is based on the Journey 6P chip and has already been targeted for mass production by leading NEV companies.

Risk warning: There is uncertainty about the implementation progress of new technology; there is uncertainty about changes in technology routes; industry competition is intensifying.