Citigroup: Chinese new energy vehicle companies may rise in June, the market is expected to chase after high volatility stocks such as Ideal Motors.

Citi said that many new energy vehicle brands began to see a rebound in weekly orders last week, combined with recent promotional activities by many car companies, there is a possibility of further upward trend in June. Citigroup analysts Jeff Chung and others stated in a report that the beta valuation of the automotive industry may have bottomed out after the Dragon Boat Festival, and the market will prioritize brands with higher beta and average selling prices such as NIO, Xpeng, Li Auto, and companies related to advanced driver assistance systems such as Horizon Robotics and Hesai; followed by companies with lower beta such as BYD and Great Wall Motors.