WAIC Takeaways – Implications for Auto Parts: China Autos & Shared Mobility | Asia Pacific

研报英文原文证据摘录

WAIC Takeaways – Implications for Auto Parts: China Autos & Shared Mobility | Asia Pacific

Idea

July 20, 2026 09:00 PM GMT

Morgan Stanley Asia Limited+MChina Autos & Shared Mobility | Asia Pacific Shelley Wang, CFA

Equity Analyst

WAIC Takeaways – Implications Shelley.Wang@morganstanley.comTim Hsiao +852 3963-0047

Tim.Hsiao@morganstanley.com +852 2848-1982

for Auto Parts Joey Xu, CFA

Joey.Xu@morganstanley.com +852 3963-0337

WAIC 2026 presents opportunities for auto suppliers to enter Peggy Wang

the humanoid robot realm. Meanwhile, as competition ResearchPeggy.Pc.Wang@morganstanley.comAssociate +852 3963-3934

intensifies, it's getting harder for suppliers to select customers,

differentiate products and retain R&D talent.

The Shanghai World Artificial Intelligence Conference (WAIC) 2026, held on 17-20

July, was even more crowded than 2025's conference, with 300+ humanoid robots

on show this year vs. 150+ last year. Here, we focus on implications for auto China Autos & Shared Mobility

Asia Pacific

suppliers and challenges we foresee. Industry View In-Line

Challenge #1: Customer selection becomes more difficult. With the rising number

of humanoid robots, it's getting harder to gauge which robot integrators will emerge

as clear leaders. Winning orders from leading customers such as Tesla (TSLA.O,

covered by Andrew Percoco) and Unitree remains tough, while for small-volume

customers, suppliers' upfront R&D and capacity may be more profitably utilized

elsewhere. We think auto parts suppliers are more favorably positioned – they can

leverage existing R&D resources, CNC machining equipment, and material sourcing

channels to serve robot customers, and thus incur less upfront investment.

Challenge #2: Product offerings are converging. Last year, humanoid suppliers