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Chinese EVs: Nio reports Q2 losses, BYD sees record deliveries

Shares of Chinese EV maker NIO are tumbling this morning after reporting wider-than-expect second-quarter losses. At the same time, rival EV manufacturer BYD (BYDDY) sees surging profits and record delivery figures. Yahoo Finance Live examines the impact of the price wars becoming more apparent in China’s EV market. Video Transcript BRAD SMITH: We’re switching gears… Continue reading Chinese EVs: Nio reports Q2 losses, BYD sees record deliveries

China’s in the Spotlight as Nio Falls, PDD Jumps

Market volatility can be scary, but every so often, you can almost tell that Wall Street is trying to take advantage of what could be the last few quiet days of summer. Overall, market participants are waiting to see whether the economy starts behaving better or if high interest rates end up producing the recession… Continue reading China’s in the Spotlight as Nio Falls, PDD Jumps

NIO Inc. Reports Unaudited Second Quarter 2023 Financial Results

Quarterly Total Revenues reached RMB8,771.7 million (US$1,209.7 million)iQuarterly Vehicle Deliveries were 23,520 units SHANGHAI, China, Aug. 29, 2023 (GLOBE NEWSWIRE) — NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced its unaudited financial results for the second… Continue reading NIO Inc. Reports Unaudited Second Quarter 2023 Financial Results

Chinese EVs: Nio reports Q2 losses, BYD sees record deliveries

BYD Powers Through China’s Auto Price War to Post Soaring Profit

(Bloomberg) — China’s top-selling auto brand withstood the price war raging in the country this year, with BYD Co. posting second-quarter profit that surged 145% and sending its shares climbing. Most Read from Bloomberg Net income more than doubled to 6.8 billion yuan ($930 million) after the company sold a record number of plug-in hybrid… Continue reading BYD Powers Through China’s Auto Price War to Post Soaring Profit

BYD’s First-Half Net Profit More Than Tripled on Strong Sales

Reuters Chinese banks to cut existing mortgage rates as property crisis deepens BEIJING (Reuters) -Some Chinese state-owned banks will soon lower interest rates on existing mortgages, three sources familiar with the matter said on Tuesday, as Beijing ramps up efforts to revive the debt crisis-hit property sector and bolster a sputtering economy. The quantum of… Continue reading BYD’s First-Half Net Profit More Than Tripled on Strong Sales

Fisker Stock Rises. The EV Start-Up Is Expanding Deliveries to 3 New Countries.

Bloomberg Fortescue’s Iron Ore CEO Resigns After Less Than Six Months (Bloomberg) — Fortescue Metals Group Ltd. said the company’s chief executive officer of its iron ore division, Fiona Hick, had resigned after less than six months in the role.Most Read from BloombergChina’s Worsening Economic Slowdown Is Rippling Across the GlobeTraders Have S&P 500 Comebacks Fading… Continue reading Fisker Stock Rises. The EV Start-Up Is Expanding Deliveries to 3 New Countries.

Lear (NYSE:LEA) Is Paying Out A Dividend Of $0.77

Lear Corporation’s (NYSE:LEA) investors are due to receive a payment of $0.77 per share on 19th of September. This means that the annual payment will be 2.2% of the current stock price, which is in line with the average for the industry. Check out our latest analysis for Lear Lear’s Payment Has Solid Earnings Coverage… Continue reading Lear (NYSE:LEA) Is Paying Out A Dividend Of $0.77

Hyundai Mobis and Autotalks collaborate to implement cutting-edge V2X technology for connected cars

SEOUL, South Korea, Aug. 28, 2023 /PRNewswire/ — Hyundai Mobis (KRX: 012330), a leading global automotive supplier and Autotalks, a world leader in V2X (Vehicle-to-Everything) communication solutions are set to unveil their latest joint effort: Hyundai Mobis’ MTCU (Multi-functional Telematics Control Unit) connectivity modules. MTCU Gen1, Hyundai Mobis’ most advanced connectivity module to date, supports… Continue reading Hyundai Mobis and Autotalks collaborate to implement cutting-edge V2X technology for connected cars

Unraveling the Future of Eaton Corp PLC (ETN): A Deep Dive into Key Metrics

Long-established in the Industrial Products industry, Eaton Corp PLC (NYSE:ETN) has enjoyed a stellar reputation. It has recently witnessed a surge of 1.18%, juxtaposed with a three-month change of 24.82%. However, fresh insights from the GuruFocus Score Rating hint at potential headwinds. Notably, its diminished rankings in financial strength, growth, and valuation suggest that the… Continue reading Unraveling the Future of Eaton Corp PLC (ETN): A Deep Dive into Key Metrics