Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Himax Technologies Inc Adr / Equity Bottom-Up

<ul>
<li>We hosted a conference call recently with Himax management, the global leader in automotive touch display controllers; the company is experiencing a uniquely stronger automotive supply/demand environment than some peers.</li>
<li>Discussed in detail how larger or more sophisticated interior displays can drive higher dollar content of display controllers per vehicle. We examine trending new car designs with much larger displays.</li>
<li>We forecast an exponential jump-up in display controller content value per vehicle as beautiful display designs are becoming key USP for auto brands; Maintain our Structural Long rating for Himax.</li>
</ul>


We hosted a conference call recently with Himax management, the global leader in automotive touch display controllers; the company is experiencing a uniquely stronger automotive supply/demand environment than some peers.
Discussed in detail how larger or more sophisticated interior displays can drive higher dollar content of display controllers per vehicle. We examine trending new car designs with much larger displays.
We forecast an exponential jump-up in display controller content value per vehicle as beautiful display designs are becoming key USP for auto brands; Maintain our Structural Long rating for Himax.


TechChain Insights: Call with Himax, How New In-Car Displays Can Quadruple Chip Content Per Vehicle

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>General Motors is suddenly sitting at the center of a story that reaches far beyond cars, EVs, pickup trucks, and Wall Street earnings models.</li><li>The company is reportedly in talks with Lockheed Martin to manufacture commonly used parts for weapons systems, as the U.S. government pushes defense contractors to rebuild depleted munitions stockpiles after conflicts in Ukraine, Iran, and the Middle East.</li><li>For a company best known for Chevrolets, GMC trucks, Cadillacs, and large-scale auto manufacturing, the idea of supplying parts for missile or interceptor production creates a striking new narrative.</li></ul>

General Motors is suddenly sitting at the center of a story that reaches far beyond cars, EVs, pickup trucks, and Wall Street earnings models.The company is reportedly in talks with Lockheed Martin to manufacture commonly used parts for weapons systems, as the U.S. government pushes defense contractors to rebuild depleted munitions stockpiles after conflicts in Ukraine, Iran, and the Middle East.For a company best known for Chevrolets, GMC trucks, Cadillacs, and large-scale auto manufacturing, the idea of supplying parts for missile or interceptor production creates a striking new narrative.

General Motors & Lockheed Martin: Is Detroit Entering The Weapons Boom?

<ul><li>General Motors Company delivered a strong first quarter, supported by disciplined pricing, lean inventories, improved EV losses, warranty savings, China profitability, and growing digital services revenue.</li><li>Total company EBIT-adjusted reached $4.3 billion, helped partly by a $0.5 billion tariff-related accounting benefit, while North America posted a 10.1% EBIT-adjusted margin, or 8.6% excluding that benefit.</li><li>This keeps the company on track toward its 8% to 10% North American margin objective for the full year.</li></ul>

General Motors Company delivered a strong first quarter, supported by disciplined pricing, lean inventories, improved EV losses, warranty savings, China profitability, and growing digital services revenue.Total company EBIT-adjusted reached $4.3 billion, helped partly by a $0.5 billion tariff-related accounting benefit, while North America posted a 10.1% EBIT-adjusted margin, or 8.6% excluding that benefit.This keeps the company on track toward its 8% to 10% North American margin objective for the full year.

Will General Motors's (GM) EV Restructuring Headwinds Ease Before Commodity Inflation Compounds?

<ul><li>General Motors entered 2026 talking about market share gains, disciplined inventory, strong pricing, and a path back to higher North America margins, but the bigger story sits outside the factory gate.</li><li>The company’s recent sales slowdown looks less like a product problem and more like a consumer affordability problem.</li><li>When the average financed amount for a new vehicle is hovering around $43,899, vehicle ownership starts to resemble a housing-lite purchase rather than a routine consumer decision.</li></ul>

General Motors entered 2026 talking about market share gains, disciplined inventory, strong pricing, and a path back to higher North America margins, but the bigger story sits outside the factory gate.The company’s recent sales slowdown looks less like a product problem and more like a consumer affordability problem.When the average financed amount for a new vehicle is hovering around $43,899, vehicle ownership starts to resemble a housing-lite purchase rather than a routine consumer decision.

The $44,000 Car Crisis: Why Americans Suddenly Can’t Afford General Motors!

Focused on the Climate–Nature Nexus., Carbon Tracker Initiative

Carbon Tracker Initiative

Focused on the Climate–Nature Nexus.

Carbon Tracker and Planet Tracker - part of the Tracker Group - are award-winning, non-profit financial think tanks focused on the climate–nature nexus.

Thematic (Sector/Industry)

<ul>
<li>This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and estimated real-world lifecycle emissions.</li>
<li>Across the sector, Carbon Tracker estimates a median reporting gap of 33%, driven by differences between corporate reporting assumptions and real-world vehicle emissions.</li>
<li>Adjusted emissions estimates suggest several automakers are as carbon intensive as traditional oil and gas companies.</li>
</ul>


This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and estimated real-world lifecycle emissions.
Across the sector, Carbon Tracker estimates a median reporting gap of 33%, driven by differences between corporate reporting assumptions and real-world vehicle emissions.
Adjusted emissions estimates suggest several automakers are as carbon intensive as traditional oil and gas companies.


Energy Transition: Oil Companies in Disguise

United States

General Motors Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.

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General Motors (GM US)

TechChain Insights: Call with Himax, How New In-Car Displays Can Quadruple Chip Content Per Vehicle

We discussed in depth the company's latest insights in how larger interior displays in autos are driving higher dollar content of display...

Vincent Fernando, CFA

General Motors & Lockheed Martin: Is Detroit Entering The Weapons Boom?

General Motors is suddenly sitting at the center of a story that reaches far beyond cars, EVs, pickup trucks, and Wall Street earnings models. The...

Baptista Research

Will General Motors's (GM) EV Restructuring Headwinds Ease Before Commodity Inflation Compounds?

General Motors Company delivered a strong first quarter, supported by disciplined pricing, lean inventories, improved EV losses, warranty savings,...

Baptista Research

The $44,000 Car Crisis: Why Americans Suddenly Can’t Afford General Motors!

General Motors entered 2026 talking about market share gains, disciplined inventory, strong pricing, and a path back to higher North America...

Baptista Research

Energy Transition: Oil Companies in Disguise

This report analyses 17 of the world’s largest automakers and identifies a systemic “Carbon Gap” between reported Scope 3 Category 11 emissions and...

Carbon Tracker Initiative

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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