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Auto exports face obstacles again, with rumors that Canadian government plans to increase tariffs on Chinese electric cars. Automotive stocks fell across the board, and Nio Inc (09866) fell by 3.8%.
Jingu financial news | Auto stocks continue to be under pressure. As of publication, NIO (09866) fell by 3.8%, Geely Auto (00175) fell by 2.73%, Li Auto Inc (02015) fell by 2.04%, Guangzhou Automobile Group (02238) fell by 1.33%, and Leap Motor (09863) fell by 1.3%. It is reported that the government led by Canadian Prime Minister Justin Trudeau is preparing to impose new tariffs on Chinese-made electric vehicles in order to be consistent with the actions of the United States and the European Union. A Canadian official who declined to be named was quoted as saying that the government still needs to make a final decision on how to move forward with the tariff plan, but will soon make an announcement.
Canada plans to impose new tariffs on Chinese electric cars.
Jingu wealth news | There are reports quoting sources as saying that the government led by Canadian Prime Minister Trudeau is preparing to impose new tariffs on Chinese-made electric autos in order to stay in line with actions taken by the United States and the European Union. The report quoted a Canadian official who declined to be named as saying the government still needs to make a final decision on how to proceed with the tariff plan, but it will soon announce the start of public consultations. Currently, Canada imposes a tariff of about 6% on Chinese autos. Last month, Canadian Minister of International Trade Wu Fengyi said that Canada is also considering whether to raise tariffs on Chinese electric vehicles after the United States announced new tariffs.
[Brokerage Focus] Bocom Intl expects the penetration rate of new energy autos to continue breaking records, and it hopes to exceed 60% of retail market share of domestic brands.
Jiangying International stated in Jinwu Cai Xun that, according to the latest data from China Passenger Car Association (CPCA), the narrow definition of retail passenger vehicles in June was approximately 1.75 million vehicles, a year-on-year increase of 7.6% and a month-on-month growth of 2.3%. The retail sales of new energy passenger vehicles is expected to be 860,000 units, up 6.9% from the previous month and a 32.7% increase year-on-year, with an estimated penetration rate of 49.1%. The new energy vehicle market has benefited from the introduction of new models and further price cuts, and is still maintaining stable growth. Jiangying International expects the market share of new energy vehicles to reach a new high and the penetration rate to continue to set new records. With the launch of more new models from domestic brands in the second half of the year...
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