NIO Inc. Reports Unaudited Second Quarter 2023 Financial Results
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Mizuho cuts price target on Nio (NIO) while raising delivery estimates
August 30, 2023 3:23 PM EDTMizuho reiterated a Buy rating on Nio Inc. (NYSE: NIO) but cut their 12-month price target on the stock to $18.00 (From $20.00) after the Chinese electric automaker reported its 2Q earnings report.
NIO reported 2Q revenues of RMB 8.77B, missing the consensus estimate of RMB 9.51B. Deliveries for the quarter were down 24% compared to the first 3 months of the year. However, management... More
SunCar (SDA) renews service agreement with Nio (NIO) for 1 year
August 30, 2023 2:11 PM EDTChinese digital automotive after-sales service provider, SunCar Technology (NASDAQ: SDA) announced today that it has renewed its one-year insurance intermediation service agreement with electric automaker, Nio Inc. (NYSE: NIO).
We have witnessed strong growth momentum for NEVs in... More
Nio (NIO) to launch mobile phone in September
August 30, 2023 8:44 AM EDTNio Inc. (NYSE: NIO), the Chinese electric vehicle manufacturer, has announced its intentions to introduce its first self-designed mobile phone in late September. The company aims to enhance the allure of its vehicles by offering improved software and connectivity through this new venture.
"Our phone business is not to compete with those phone makers," CEO William Li told investors.
Li, the founder and of Nio, played a pivotal role in spearheading the phone initiative,... More
