Previous close | 11.95 |
Open | N/A |
Bid | 15.75 |
Ask | 16.20 |
Strike | 42.00 |
Expiry date | 2024-10-18 |
Day's range | 11.95 - 11.95 |
Contract range | N/A |
Volume | |
Open interest | 5 |
President Biden quadrupled tariffs on Chinese-made EVs. The catch? Hardly any Americans are buying these cars anyway.
Nio prepares to launch its first mass-market car on Wednesday as Chinese EV startups downshift prices in a hunt for growth. Nio stock jumped Monday, along with Zeekr and XPeng. The Onvo L60 SUV will be cheaper than the Tesla Model Y that it's challenging in the RMB 250,000 ($34,565) segment, Nio CEO William Li has said.
Companies such as Xpeng, Li Auto, and NIO don’t sell cars in the U.S. and aren’t likely to soon. An existing 25% tariff is enough to wipe out any potential profits.