00:00What does this mean for the business? What are you doing exactly?
00:04Well, yesterday we had a really unveiled our latest development in AI technology and also,
00:12you know, really seeing the potential of that technology translating to the human physical
00:17world. We actually unveiled our second generation VLA model, which includes our self-developed
00:23semiconductor as well as, you know, utilizing that to really advance the pumps driving technologies,
00:30our current existing fleet of vehicles. And then take another step further is kind of the
00:36announcement of our, you know, RoboTaxi plan. We're launching level four capable vehicles next year
00:44with three models planned that can tackle both the RoboTaxi world as well as, you know,
00:49self-ownership of level four vehicles. And our human robot, we actually build our second
00:55generation iron. So there's a lot of new technologies really connected through this
01:00development of AI as well as our physical AI approach.
01:06And what I think is remarkable, Brian, is that you're doing it all in-house, right? Your own chips,
01:10your own software, your own hardware. It's a full stack. In terms of how this is going to support
01:15your earnings moving forward. I mean, when, if any, or when, do you have any timeline on when this
01:20could all be profitable, these new businesses? Well, first of all, I would say all these areas
01:26that we are now really launching into the commercialization stage, most of them actually
01:32will have volume production of products by next year, actually represents opportunities as big,
01:39if not bigger than the current EV opportunity. So there are multiple growth drivers that's clearly
01:44to be, you know, start to be defined. And also, I think that there's the sharing of the core
01:50technology. They all share the same AI core, which we developed the new VLA model, the, you know,
01:56the self-developed semiconductor, as well as the system of advanced manufacturing, as well as power
02:03train technologies and this ready built network of selling these products enable us to do this much
02:09more efficiently than a lot of other companies. So I think given the, you know, the opportunity,
02:14as well as the synergy of, you know, these investments, give us a tremendous opportunity
02:19for the next three to five years. Yeah, Brian, I wanted to actually ask you, because these are
02:24actually quite astounding milestones that you're doing. As Yvonne is pointing out, you're bringing,
02:29or you've developed, let me rephrase it, developed a lot of the technology in-house semis, for example.
02:34And can you tell us a little bit more of that journey? Was that difficult for you to do? I want
02:38to get a sense of whether or not some of your peers can actually look at what you did and replicate
02:46that. And that then becomes something to consider as far as a competitive challenge is concerned.
02:53Well, first, I would say it's not easy, you know, to be really developing a brand new business
02:58in the semiconductor, which is highly competitive as well, is something that really we poured a lot of
03:04efforts, capital as well as human capital into it that took us many years, I would say more than four
03:10years of development to get to a production stage. But I also would like to say that this is something
03:16you must do if you really want to focus on to become a full stack leader in the new mobility
03:23technology. You cannot rely on, you know, all, you know, sort of partners to provide core components
03:29of your AI, core components of your tech products going forward. That's why we think it's something
03:35I would expect that, you know, companies with ambition was really the expectation to be a leader
03:40in this segment for future mobility. We're all going to self-developing semiconductors. We're just
03:46become one of the forefront players. When it comes to robo taxis, what kind of targets in terms of
03:53your fleet? What sort of volumes are you expecting here, Brian? And when it comes to cities in China,
03:59you know, how many can you actually roll this sort of technology out now? Well, for our robo taxi,
04:05I think we're doing, you know, differently compared to some of the other level four companies. First of all,
04:11you know, we actually are launching multiple products and capable of being the robo tax
04:16taxi as well as selling to private owners who actually want to be advanced driving technologies
04:22if they choose to drive themselves. So there's actually multiple use scenarios capable of by our
04:28products. Secondly is actually we're choosing a very much a partnership approach. For example,
04:33yesterday we announced a partnership with Alibaba's AMAP division where, you know, we actually kind of
04:39collaborate with, you know, the operator of fleets, operator of mobility network to launch such
04:46services. So these are things that we're actually planning at the moment. We have not detailed our
04:52exact city rollout as well as volume rollout plans, but given our unique strengths, which is, you know,
04:58the fully software and hardware stack, the ability to make economically attractive products in scale,
05:06as well as having open and partnership approach. I think we actually can have a much faster, you know,
05:12scale up process versus some of the, you know, software or collaboration only players.
05:17Yeah, on scale, it seems like a lot of these products are focused more on the Chinese market
05:23so far, Brian. I'm wondering when it comes to going international and your expansion efforts there,
05:28how quickly are you even thinking about going global at this point?
05:31Well, I think, you know, for technology company, ultimately, you have to focus on the global market in
05:38order to really scale as well to amortize your investment. At the moment, I think our initial
05:44role will be focused on the Chinese market. The testing will happen, you know, maybe first with
05:49Guangzhou and expand to other cities. But the partnership with AMAP is actually a global partnership.
05:56They also have a vision to expand outside of China. So we'll work with them on that. And also,
06:00we have announced that we're also open to partner with other operators, likely international partners,
06:06hopefully see that similar collaboration model to work internationally. So I think it's a
06:13gradual process, probably China will be the first step.
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