NEXTEER's stock experienced a significant intraday surge, soaring 5.01% during the trading session. This sharp upward movement follows positive business updates from the company that have bolstered investor confidence.

According to a UBS research note discussed in recent reports, NEXTEER's management disclosed it has already initiated two Steer-by-Wire (SbW) projects this year and anticipates securing more SbW and Electronic Mechanical Braking (EMB) orders in 2026. The company's SbW technology, already in production for models like the Li Auto L9 and Tesla Cybercab, is gaining traction, with systems beginning to penetrate vehicles in the 300,000 yuan price segment. Management projects SbW's penetration rate in China could exceed 20% by 2030.

Further supporting the bullish sentiment, the company reported securing $1.6 billion in new orders during the first quarter and has expanded its REPS business with North American clients. While management noted that rising commodity prices could pressure profit growth in China, they are implementing cost and capacity optimization measures. UBS maintains a "Buy" rating on the stock, citing the development of SbW technology and the company's ability to secure further orders as key catalysts for the share price.