The daily average trading volume of used cars in China from February 9 to February 14 was 65,800 units.

【Hyundai Motor Group Plans to Invest $6.3 Billion in AI and Robotics in South Korea】According to a statement by South Korea's Ministry of Land, Infrastructure and Transport, Hyundai Motor Group will invest 9 trillion won (approximately $6.3 billion) in artificial intelligence, robotics, and hydrogen businesses in the Saemangeum area of South Korea. It is reported that Hyundai Motor Group signed this investment agreement with the government on the 27th, planning to spend 400 billion won to build a robot manufacturing plant, invest 5.8 trillion won in an AI data center, allocate 1 trillion won for the construction of hydropower electrolysis facilities for the production and supply of green hydrogen, and invest 1.3 trillion won in the construction of solar power generation facilities.

【NIO and Bosch Deepen Collaboration in Core Technologies for Intelligent EVs】During German Chancellor Merz's visit to China, NIO signed a strategic cooperation agreement with Bosch. The collaboration will cover NIO, ONVO Le Dao, and Firefly under NIO, focusing on in-depth cooperation in the core technology areas of intelligent EVs. The partnership encompasses key technologies such as wire-controlled chassis and battery management, including brake control, steering systems, drive systems, as well as auto body electronics and perception modules.

【Citi: Raise GAC Group's AH Share Target Price】Citi issued a research report stating that, considering the progress in robotics technology and the partnership with Huawei, it has raised the target price for GAC's H shares from 3 HKD to 3.8 HKD, maintaining a "neutral" rating; the A-share target price was raised from 7.2 yuan to 8.1 yuan, and the rating was upgraded from "sell" to "neutral". The bank believes that after a 11% decline in A-share prices over the past year, the current risk-reward profile appears neutral. Additionally, taking into account the actual sales performance in 2025 and the bank's relatively conservative industry outlook for 2026.