NIO Inc. (NIO) calls more active than puts into quarter results and outlook
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- S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
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China launches nationwide car purchasing initiative following May sales report
June 8, 2023 9:50 AM EDTIn a significant effort to bolster demand in the world's largest automobile market, China unveiled Thursday a comprehensive nationwide initiative aimed at promoting car purchases, signaling a strong commitment to supporting the automotive industry.
The announcement from the Ministry of Commerce follows the release of data indicating a 7.3%... More
China vehicle sales jump 7.3% in May, NEVs lead the charge
June 8, 2023 9:39 AM EDTData released from the China Passenger Car Association (CPCA) Thursday shows that passenger vehicle sales in China rose 7.3% in May compared to last month, as the Chinese government extended tax incentives to shore up demand amid a lagging economic recovery.
The data shows vehicle sales in May reached a total of 1.76 million units.... More
Lucid (LCID) to bring their luxury EVs to China
June 8, 2023 8:44 AM EDTOn Thursday, Zhu Jiang, the head of Lucid Group's operations in China, announced that the U.S. luxury electric vehicle (EV) manufacturer, Lucid Group (NASDAQ: LCID), is preparing to enter the global automotive industry's biggest market.
The US EV startup currently sells its Air luxury sedans in the United States,... More
Volvo launches EX30 electric SUV
June 7, 2023 2:33 PM EDTSwedish luxury automaker, Volvo launched their new fully-electric EX30 SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500). The EX30 is Volvos smallest SUV to date and follows the unveiling of the larger electric EX90 in November.
"It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan,... More
