Shares of Sunny Optical Technology Group Co. Ltd. surged 8.97% on Tuesday, outperforming the broader market, as the company's prospects were boosted by the growing demand for smart driving solutions.
The rally came after BYD Co., a leading Chinese electric vehicle maker, started offering advanced autonomous driving features on most of its models, including those priced as low as $9,555. This move is expected to accelerate the adoption of smart driving technologies and benefit Sunny Optical, a major supplier of automotive camera modules.
Analysts at Citi highlighted Sunny Optical as one of the key beneficiaries of BYD's push into smart driving solutions. The research firm noted that the "era of smart driving popularization has come," and Sunny Optical, along with other suppliers like BYD Electronic and Will Semiconductor, is well-positioned to capitalize on this trend.
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