Meritz Securities said on the 6th that all U.S. robotaxi companies are adopting Mando's chassis parts for HL Mando. It maintained a Buy rating and raised the target price to 76,000 won. HL Mando's previous closing price was 61,500 won.
On the 13th (local time) last month in the United States, a hearing was held on the Self Drive Act, a bill for the popularization and commercialization of robotaxis. On the 4th, the Senate held a hearing to listen to industry opinions on the bill.
Kim Jun-sung of Meritz Securities said the bill is "highly likely to pass the House in June and the Senate in September," and noted, "As the bill moves through the process, we expect aggressive expansion of robotaxi fleet sizes in the United States."
Meritz Securities said robotaxis have already become an everyday means of transportation in some leading cities where operating permits have been granted, such as San Francisco and Las Vegas.
Kim added that "all three brands running paid commercial services in those cities are equipped with Mando's chassis parts."
In particular, as the bill gains traction this year, Tesla is signaling aggressive expansion of robotaxi fleet sizes through operation of a dedicated factory.
Kim said, "Robotaxis will replace existing means of transportation by leveraging their comparative advantages in cost-effectiveness and convenience," and analyzed that "starting in the second quarter this year, expectations for rapid expansion of robotaxi fleet sizes will be reflected in Mando's earnings and valuation outlook."