Yamato: Raises the target price of Ideal Car to $32.5, expecting full year sales to gradually increase.

Daiwa released a research report, and after recent communication with management, has re-evaluated the valuation model, still optimistic about Ideal's long-term growth in vehicle upgrades and overseas expansion. Ideal Motors plans to launch a new pure electric SUV i8 in July to August this year, and may release i6 by the end of the year. The prices of these two new models range from 200,000 to 400,000 yuan. Daiwa expects the full year sales to gradually increase this year, reiterating its "outperform the market" rating, with a target price for the US stock increasing from $23.4 to $32.5.