---
title: "Understanding the Market | NEXTEER rose over 5% in early trading, Tesla's first trial run of autonomous taxis is expected to significantly benefit the company"
description: "NEXTEER rose over 5% in early trading, and as of the time of publication, it was up 5.27%, priced at HKD 5.59, with a transaction volume of HKD 33.1045 million. In terms of news, on June 22, Tesla off"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/247564690.md"
published_at: "2025-07-08T02:22:04.000Z"
---

# Understanding the Market | NEXTEER rose over 5% in early trading, Tesla's first trial run of autonomous taxis is expected to significantly benefit the company

> NEXTEER rose over 5% in early trading, and as of the time of publication, it was up 5.27%, priced at HKD 5.59, with a transaction volume of HKD 33.1045 million. In terms of news, on June 22, Tesla officially launched its autonomous taxi Robotaxi service in Austin, Texas, USA, with about 10 refurbished Model Y vehicles being used as the first batch of autonomous taxis to start picking up the first passengers. More vehicles, including Cybercab, are expected to join the fleet in the future, further expanding the operational scope. Cathay Securities stated that suppliers of core components such as perception systems and steer-by-wire chassis in the Robotaxi supply chain are likely to benefit. Daiwa released a research report stating that as the only steer-by-wire supplier for Tesla's Cybercab, NEXTEER will benefit from this. In addition, the company is also a core steering system supplier for BYD, XPeng, ZEEKR, Xiaomi, Li Auto, Aion, and Chang'an, and is expanding to other brands. The company is upgrading its product portfolio to supply higher average selling price products. The firm raised its target price for NEXTEER from HKD 3.1 to HKD 6, maintaining an "outperform" rating

According to Zhitong Finance APP, NEXTEER (01316) rose over 5% in early trading, and as of the time of publication, it was up 5.27%, trading at HKD 5.59, with a transaction volume of HKD 33.1045 million.

In terms of news, on June 22, Tesla officially launched its autonomous taxi Robotaxi service in Austin, Texas, USA, with about 10 refurbished Model Ys being used as the first batch of autonomous taxis to start picking up the first passengers. More vehicles, including Cybercab, are expected to join the fleet in the future, further expanding the operational scope. Cathay Securities stated that core component suppliers such as perception systems and steer-by-wire chassis in the Robotaxi supply chain are likely to benefit.

Daiwa released a research report stating that as the current sole steer-by-wire supplier for Tesla's Cybercab, NEXTEER will benefit from this. Additionally, the company is a core steering system supplier for BYD, XPeng, ZEEKR, Xiaomi, Li Auto, Aion, and Chang'an, and is expanding to other brands. The company is upgrading its product portfolio to supply higher average selling price products. The firm raised its target price for NEXTEER from HKD 3.1 to HKD 6, maintaining an "outperform the market" rating

### Related Stocks

- [01316.HK - NEXTEER](https://longbridge.com/en/quote/01316.HK.md)
- [TSLA.US - Tesla](https://longbridge.com/en/quote/TSLA.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.