$Hesai(HSAI.US) rose by more than four points, $SIGENERGY(06656.HK) stayed flat all day, and $CHERY AUTO(09973.HK) fell by nearly three points.
Similarly along the new energy vehicle supply chain, lidar makers are rising while automakers are falling. The price war among OEMs is squeezing margins thinner and thinner, whereas suppliers are gaining volume due to increased penetration of smart driving solutions.
How long can this pattern where "components are more valuable than complete vehicles" last? It looks like it will persist—as long as smart driving features continue to trickle down to lower-tier models, there is still room for growth in the per-vehicle value for suppliers, while the share battle among OEMs shows no signs of stopping.
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