NIO Inc. (NIO) June weekly 8 straddle into quarter results

NIO Inc. (NIO) slashes prices and ends free battery swapping

Chinese electric automaker NIO Inc. (NYSE: NIO) revealed Monday its decision to reduce prices across all models and discontinue free battery swapping services for new customers. This move comes as the Chinese automaker grapples with financial losses and lackluster sales, placing them under increasing scrutiny and... More

NIO Inc. (NIO) receives downgrades and adjusted price targets following disappointing 1Q23 and deliveries

Nomura and CMB International Global Markets (CMBIS) downgraded NIO Inc. (NYSE: NIO) from Buy ratings to Neutral and Hold ratings respectively. Nomura cut their 12-month price target on the stock to $7.50 (From $25.80), while CMBIS cut their price target to $8.00 (From $21.00) following the electric automakers disappointing 1Q23 earnings miss and delivery numbers.

In the first quarter of 2023, NIO achieved 31,041 deliveries, which fell within the expected range of 31,000-33,000 units. However, the recorded revenue amounted to CNY10.7 billion, slightly below the projected range of CNY10.9-11.5 billion.

NIO reported 1Q Gross margin at 1.5%,... More

Rivals GM and Ford will adopt Tesla's NACS charging connectors, will Stellantis follow?

General Motors (NYSE: GM) jumped 3.7% at the open on Friday after the company announced yesterday that the Detroit automaker will be partnering with Tesla (NASDAQ: TSLA) to open the EV giants supercharger network to GM customers. The move follows a similar announcement by neighboring rival Ford (NYSE: F) on May 26th, prompting analysts to ask the... More

China launches nationwide car purchasing initiative following May sales report

In 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

Data 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

On 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