Shares of Nexteer advanced by more than 3% in trading. At the time of writing, the stock was up 2.81%, trading at HK$5.13 with a turnover of approximately HK$25.23 million.

Nexteer Automotive Group Ltd (01316)

According to a research note from UBS, the company's management disclosed during a 2026 Asia investment conference that it has initiated two Steer-by-Wire (SbW) projects so far this year. Management anticipates securing more orders for SbW and Electronic Mechanical Braking (EMB) systems in 2026, with plans for Rear-Wheel Steering (RWS) projects to commence production in the second half of this year.

UBS noted that Nexteer's SbW orders have already entered production for models such as the Li Auto L9 and the Tesla Cybercab. Management has observed an increasing willingness among automakers to adopt the technology, with SbW systems beginning to penetrate vehicles priced around 300,000 yuan. It is projected that SbW's penetration rate in China could surpass 20% by 2030.