小马智行-W（02026）今日盘中大涨5.61%，引起了市场的广泛关注。
消息面上，小马智行此前在2026北京车展上宣布，预计随着车队规模提升，到2027年国内市场Robotaxi总车辆成本将降至23万元人民币以下，还将基于该车型推出海外版本，推进海外市场千台以上部署。公司表示，L4 Robotaxi的成本已低于特斯拉Model 3最低配。
华泰证券发布研报称，此前公司已披露第七代Robotaxi在深圳、广州单车日均净收入达338/299元、日均23单。若2027年车辆总成本进一步降至23万元以内，单车折旧压力有望继续下降，估算小马自持Robotaxi每日单车成本约277.5元，据深圳数据338元估算单车毛利率可达约18%。
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