09868 Should I Buy

The analyst rating from CMSI for XPENG-W (09868.HK) is based on several positive observations from a recent test drive event. The report highlights the vehicle's stable performance across various urban road conditions and the high rate of participants achieving zero takeover during the test drive. CMSI expressed optimism regarding the company's technological advancements and continuous improvements in intelligent driving, which are expected to enhance product competitiveness and support the launch of a Robotaxi business within the year. Additionally, the development of the VLA system is anticipated to benefit the company's robotics business, which is expected to achieve mass production this year. Consequently, CMSI maintained an Overweight rating on XPENG-W, with target prices set for both H-shares and US stock.