Chinese EV Stocks Jump as Government Expected to Boost Purchases [Financial Post (Toronto, Ontario, Canada)]
NIO Inc. American depositary shares, each representing one Class A ordinary share (NIO)
Last nio inc. american depositary shares, each representing one class a ordinary share earnings: 3/18 07:30 am
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Chinese electric-vehicle stocks rallied in Hong Kong after state media reported on government measures to support the sector's development. Central-government agencies will increase purchases of new-energy vehicles, state media Xinhua News Agency reported Tuesday, citing a government guideline dated Sept. 27 that said EVs should be no less than 30% of new vehicles purchased annually in principle. It also stated that the purchase price per vehicle should not be above 180,000 yuan ($25,200), and recommended measures like construction of charging infrastructure to make EV usage easier. NIO Inc jumped as much as 13% in Hong Kong and was the top performer on the MSCI China Index. Xpeng Inc. rose as much as 8%, and Zhejiang Leapmotor Technology Co Ltd gained more than 6%. Sector leader BYD Co. advanced up to 1.8% ahead of its third-quarter earnings re
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News
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- Nio Inc - (NYSE: NIO) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "neutral" rating to a "sell" rating. They now have a $3.90 price target on the stock, down previously from $4.80.MarketBeat
NIO
Earnings
- 11/20/24 - Beat
NIO
Sec Filings
- 12/2/24 - Form 6-K
- 11/20/24 - Form 6-K
- 11/7/24 - Form 6-K
- NIO's page on the SEC website