Reported 2 days ago
Nio's stock surged over 12% this week due to the announcement of its new electric SUV, the ONVO L90, set to launch starting August 1 in China. This positive news contrasts sharply with the struggles faced by Tesla, which reported a significant downturn in revenue and profitability for the second quarter. The favorable market positioning and government support for electric vehicles in China have bolstered investor confidence in Nio, as it continues to expand in the growing EV sector.
Source: YAHOO