0651 GMT - Baidu's robotaxi business could stand out from the competition given its wide geographical coverage, technology and resources, Jefferies analysts say in a research note, citing an industry expert. Robotaxi could be a trillion yuan addressable market in the coming years, and Baidu a leading player with a presence in 11 cities and cumulative rides of over six million, they say. Investors should pay attention to key metrics such as average order value, subsidies, safety costs and depreciation, they say, adding that the key factor to achieve unit economics break even is the percentage of fully driverless orders. Jefferies maintains a buy call on Baidu and keeps its target at HK$168.00. Shares last at HK$87.80. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
July 24, 2024 02:51 ET (06:51 GMT)
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