What to Expect From a Potential BYD Intelligence Strategy Launch Conference

Goldman Sachs maintains a Buy rating on BYD ahead of its rumored Intelligence Strategy Launch Conference, where the company is expected to showcase low-cost urban autopilot and self-developed hardware.

Key Takeaways

• 1.BYD is expected to hold an 'Intelligence Strategy Launch Conference' on May 28, 2026, focusing on urban autopilot and self-developed components.
• 2.BYD may lower the price threshold for standard Urban Navigate on Autopilot (NOA) to approximately Rmb150k to boost mass-market competitiveness.
• 3.The company is focusing on vertical integration through self-developed 128-channel LiDAR and intelligent driving chips to optimize costs.

Table of Contents

• Potential key updates
• (1) Price segment for standard Urban NOA
• (2) Smart driving performance
• (3) Self-developed components
• (4) Intelligent chassis development
• (5) Overseas expansion
• Investment Thesis
• Price Target Risks & Methodology
• Disclosure Appendix
• Price target and rating history chart(s)
• Regulatory disclosures

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