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Investing.com - UBS has expressed a marginally more constructive view on China’s auto sector compared to the previous quarter, despite cooling investor sentiment since late May.
The investment bank reaffirmed its Buy rating on Li Auto (NASDAQ:LI), highlighting the upcoming debut of the company’s i8 model scheduled for late July as a positive catalyst for the stock.
UBS also maintained Buy ratings on BYD (OTC:BYDDY) and Great Wall Motor (GWM), citing BYD’s overseas achievements and GWM’s premiumization efforts as key strengths for these companies.
The bank kept XPeng (NYSE:XPEV) at a Neutral rating, expressing concerns about the performance of the company’s new G7 model amid fierce competition in the Chinese electric vehicle market.
UBS noted that investor sentiment toward Chinese auto stocks has cooled since late May due to concerns about price competition, coupled with increasing evidence of anti-unfair competition campaigns in China.
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