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☆ The best EV plays are now in China. Analysts are raising price targets on this stock
▼ + stars: | 2024-03-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

With Apple reportedly out of the electric car game and Tesla losing market share in some Chinese cities, the best EV stock plays are arguably now all based in China. Li Auto 's market share waned, and Morgan Stanley analysts are watching whether there will be a boost from new models. "Following our upgrade earlier this month, Li Auto delivered impressive earnings/guidance, further cementing its position as a top-tier China OEM," Deutsche Bank analysts said in a late February report. Li Auto management said they expect gross margin to fluctuate between 10% and 25%, but generally remain above 20%. But even with its premium pricing the company isn't immune from intense competition in China's electric car market.

Persons: Morgan Stanley, Nio, BYD, Li Auto, Li, Li Auto's, Weibing Lu, Xi Jinping, — CNBC's Michael Bloom Organizations: Apple, Friday, China, Deutsche Bank, Li Auto, Bank of America Securities, Huawei, Forseven, CYVN Holdings Locations: China, Hong Kong, Shanghai, U.S, Europe, Japan, East, Central Asia, Abu Dhabi, Norway

Signs of Chinese yuan and U.S. dollar are seen at a currency exchange store in Shanghai, China August 8, 2019. "I hope over time, we will be more than just a Middle East investor in China. I want us to be perceived also as a local Chinese investor," Ben-Gacem told Reuters, adding that the final fundraising size will depend on investor appetite and market conditions. Some private equity and venture funds are stepping up efforts to raise yuan funds. ($1 = 7.2884 Chinese yuan renminbi)Reporting by Roxanne Liu and Kane Wu; Editing by Sumeet Chatterjee and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Investcorp, Investcorp's, Hazem Ben, Gacem, Ben, Mubadala, LSEG, China Everbright, Fung, Roxanne Liu, Kane Wu, Sumeet Chatterjee, Gerry Doyle Organizations: REUTERS, Rights, Reuters, Electronics, Middle, Rongsheng Petrochemical, CYVN Holdings, NIO Inc, Gulf Cooperation Council, Thomson Locations: Shanghai, China, Rights BEIJING, Bahrain, East, Abu Dhabi, Investcorp, Shandong, Tengzhou, Middle East, Gulf, U.S, Hong Kong, Chinese, Guangdong, Macau

☆ Chinese EV maker Nio launches first mobile phone
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

A logo of the electric vehicle maker NIO is seen at its store in Beijing, China August 20, 2020. REUTERS/Tingshu Wang Acquire Licensing RightsSHANGHAI, Sept 21 (Reuters) - Chinese electric vehicle maker Nio Inc (9866.HK) launched its first mobile phone on Thursday, in hopes that better software and connectivity will boost the appeal of its EV cars amid a fierce price war in China. Chief Executive William Li, a big driver of the project, unveiled the Nio Phone in the commercial capital of Shanghai, highlighting features such as the ability to control multiple cars with one device, or to unlock a car even when switched off. Nio posted a net loss of 6.12 billion yuan ($839.51 million) in the second quarter, versus a loss of 2.75 billion yuan in the corresponding period a year ago. Reporting by Zhang Yan and Brenda Goh; Editing by Himani Sarkar and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, William Li, Nio, Zhang Yan, Brenda Goh, Himani Sarkar, Clarence Fernandez Organizations: REUTERS, Rights, Nio, HK, CYVN Holdings, Thomson Locations: Beijing, China, Shanghai

☆ China's Nio to launch first mobile phone in Sept to boost appeal of EV
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Nio's founder and chief executive, William Li, was a key driver of the phone project, which the automaker is targeting mainly at drivers of its cars. As the smartphone trend fuels great demand for connectivity, from drivers, more automakers are seeking ways to stay ahead of the growing competition. But Nio's phone project has raised concern among some investors as the company battles widening losses and a sales slump amid a price war started by Tesla in January. Nio posted a net loss of 6.12 billion yuan ($839.51 million) in the second quarter, versus a loss of 2.75 billion yuan in the corresponding period a year ago. Li said Nio would launch the first model of its new EV brand targeting the mass market in the second half of 2024.

Persons: William Li, Li, Tesla, Nio, Zhang Yan, Brenda Goh, Clarence Fernandez Organizations: HK, Zhejing, Huawei Technologies, Seres, CYVN Holdings, EV, Thomson Locations: SHANGHAI

☆ CNBC Daily Open: Time to rethink the rally?
▼ + stars: | 2023-06-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 14, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally haltedU.S. markets closed in the red Tuesday, halting a rally that drove stocks to their highest levels in more than a year. The dinner symbolizes the White House's — and corporate America's — turn to India at a time when U.S.-China ties are fraying.

Persons: Hong, Narendra Modi, Joe Biden, Biden, Tim Cook, Alphabet's Sundar Pichai, Satya Nadella, Raj Subramaniam, Anthony Tan, Alex Hungate, Goldman Sachs, Goldman Organizations: New York Stock Exchange, CNBC, Japan's Nikkei, U.S, House, CYVN Holdings, Reuters Locations: New York City, Asia, Pacific, Hong Kong, India, China, Abu Dhabi, Nio, Singapore

☆ Chinese EV maker Nio raises more than $700 million in capital injection from Abu Dhabi
▼ + stars: | 2023-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Nio's ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. BEIJING — Chinese electric car company Nio announced Tuesday it received $738.5 million in new capital from a fund owned by the Abu Dhabi government. The strategic investment ultimately gives the fund, CYVN Holdings, a 7% stake in Nio. Nio earlier this month said lackluster car deliveries was affecting cash flow, and that it was delaying capital expenditure and some research and development projects. Nio disclosed cash and cash equivalents of 14.76 billion yuan ($2.07 billion) as of March, below what it disclosed for the end of 2021 and 2022.

Persons: Nio's ET5, Nio Organizations: Central China International, CYVN Holdings Locations: Wuhan, China, BEIJING, Abu Dhabi, Nio, U.S

☆ China's Nio to get near $740 million investment from Abu Dhabi-backed firm
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

Nio and peers Xpeng and Li Auto are among those competing to grab a larger EV market share in the world's largest automotive market dominated by BYD (002594.SZ). Under the deal, Nio will issue about 85 million new Class A shares at $8.72 per share to CYVN Holdings. CYVN has also entered into a deal with an affiliate of Tencent Holdings (0700.HK), under which it will pick up some shares of Nio. Nio said it will pursue global business opportunities jointly with CYVN following the closing of the investment deal. Its cash and cash equivalents fell to 14.76 billion yuan ($2.15 billion) in the first three months of the year from 19.89 billion yuan at end of the fourth quarter of 2022.

Persons: Xpeng, Li, Nio, CYVN, Akash Sriram, Tanya Jain, Shailesh Organizations: CYVN Holdings, Nio Inc, Li Auto, Nio's, Tencent Holdings, HK, CYVN, Thomson Locations: Abu Dhabi, BYD, Nio's U.S, Nio, Bengaluru

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