The Zhitong Finance App learned that Morgan Stanley released a research report saying that the management of Ideal Automobile-W (02015) uses “power addition power” as the core strategic focus to support embodying intelligent development; the bank has a positive view on the company's long-term, but believes that the impact on short-term profits is limited. The rating is “increase in holdings”, and the target price is HK$68.5.
The bank pointed out that the company launched the Lianshan platform, which integrates self-developed batteries, electric drives and charging systems, and provides a lifetime battery fire guarantee under the conditions, and that the battery health level is not less than 75% after eight years or 160,000 kilometers; 5C batteries and silicon carbide electronic components aim to speed up charging and reduce costs. The company said that self-developed batteries, electric drives and MACH chips will help strengthen the integration of energy and computing power and the differentiation of artificial intelligence, but R&D returns will still take time to verify.
The bank believes that vertical integration is expected to improve reliability and reduce dependency on suppliers, but reliance on Sunwoda (300207.SZ) joint venture, chip sales are still early, and warranty risks are still key variables.
The bank pointed out that the ideal i6 facelift scheduled for October 28 will be equipped with a 5C battery and Mach chip. Pricing, order and delivery execution will determine the upward sales space and market sentiment in 2027; positive actual vehicle feedback/test drives and smooth slope climbing are the main catalysts.