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NIO - Government Trades

Nio is a leading electric vehicle maker, targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations such as battery swapping and autonomous driving technologies. Nio launched its first model, its ES8 seven-seater electric SUV, in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold over 160,000 EVs in 2023, accounting for about 2% of the China passenger new energy vehicle market.

Nio Photo by Sundry Photography on Shutterstock

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NIO gears up for the launch of its second-generation NIO Phone, integrating advanced features and gaining market anticipation.

What&#39;s Going On With NIO Shares Thursday?

What&#39;s Going On With NIO Shares Today?

Shanghai.china-jan.,2nd,2022:,Li,Auto(li,Xiang),Brand,Logo,And,Electric

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NIO expands its European battery swap network amid regulatory challenges and tariff impacts on Chinese EV imports.

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NIO introduces Banyan 2.6.5 CN system, enhancing vehicle safety with AI-driven AEB and advanced navigation capabilities.

NIO Advances Vehicle Safety With AI-Enhanced Automatic Emergency Braking And Navigation Features In Latest Update

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Whales with a lot of money to spend have taken a noticeably bullish stance on NIO.
Looking at options history for NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $62,632 and 8, calls, for a total amount of $278,646.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $4.0 and $5.0 for NIO, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for NIO's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across NIO's significant trades, within a strike price range of $4.0 to $5.0, over the past month.
<h3>NIO 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721401447_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$0.53</td>
<td>$0.51</td>
<td>$0.53</td>
<td>$4.00</td>
<td>$39.5K</td>
<td>1.5K</td>
<td>219</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$0.5</td>
<td>$0.46</td>
<td>$0.47</td>
<td>$4.00</td>
<td>$39.1K</td>
<td>9.1K</td>
<td>322</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$1.68</td>
<td>$1.61</td>
<td>$1.68</td>
<td>$5.00</td>
<td>$33.6K</td>
<td>34.5K</td>
<td>1.1K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$1.77</td>
<td>$1.68</td>
<td>$1.68</td>
<td>$5.00</td>
<td>$33.6K</td>
<td>34.5K</td>
<td>803</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$1.67</td>
<td>$1.67</td>
<td>$1.67</td>
<td>$5.00</td>
<td>$33.4K</td>
<td>34.5K</td>
<td>1.3K</td>
</tr>
</tbody>
</table>

<h3>About NIO</h3>
Nio is a leading electric vehicle maker, targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations such as battery swapping and autonomous driving technologies. Nio launched its first model, its ES8 seven-seater electric SUV, in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold over 160,000 EVs in 2023, accounting for about 2% of the China passenger new energy vehicle market.
In light of the recent options history for NIO, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>NIO's Current Market Status</h3>
<ul>
<li>With a trading volume of 7,413,076, the price of NIO is down by -1.43%, reaching $4.47.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 39 days from now.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for NIO with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

A Closer Look at NIO's Options Market Dynamics

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares are trading higher in <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">the premarket session on Thursday.</a>
The upcoming release of the NIO Phone by the Chinese EV maker has been confirmed with its inclusion in a regulatory database.
The 5G mobile phone, identified by model number N2401, obtained China Compulsory Certificate (CCC) certification on July 17, <a target="_blank" href="https://cnevpost.com/2024/07/18/new-nio-phone-in-regulatory-database/" rel="noreferrer noopener">reported </a>CnEV Post.
The manufacturer of the new NIO Phone is Lens Technology, based in Hunan, as indicated by its CCC certificate information.
CCC, China&#8217;s mandatory product certification system, has been in effect since May 2002, aiming to safeguard consumer rights through stringent product standards and regulations.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NIO stock has lost over 45% year to date.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39832197/apple-nvidia-supplier-tsmc-reports-strong-q2-results-amid-booming-demand-for-ai-chips-guides-q3-abov" rel="noreferrer noopener">Apple, Nvidia Supplier TSMC Reports Strong Q2 Results Amid Booming Demand For AI Chips, Guides Q3 Above Consensus: 2024 To Be &#8216;Strong Growth Year,&#8217; Says CEO</a>
Investors can gain exposure to the stock via&nbsp;KraneShares MSCI China Clean Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGRN#NYSE">KGRN</a>) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>).
The first-generation NIO Phone, with model number N2301, received its CCC certificate on September 15, 2023, CnEVPost noted.
NIO officially unveiled the first-generation Nio Phone during the NIO IN 2023 event on September 21, 2023, with a starting price of RMB6,499 ($900).
Company management has previously indicated multiple times that the NIO Phone would undergo a significant annual update, akin to Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone.
The upcoming NIO IN 2024 event is anticipated to occur in a week&#8217;s time, potentially marking the launch of the second-generation NIO Phone.
The key feature of the first-generation NIO Phone is its integration with NIO vehicles, featuring an action button that allows users to swiftly activate over 30 functions.
These include controlling vehicle features such as adjusting air conditioning settings and activating seat massage functions.
In recent months, NIO has been offering free NIO Phones to customers who purchase its 2024 models, a move aimed at enhancing the appeal of their vehicles.
During a car-owner meetup in Wuhan, Hubei province on March 17, William Li, Nio&#8217;s founder, chairman, and CEO, announced that development of the second-generation Nio Phone had been completed and was now in the manufacturing phase.
On July 14, Nio showcased the chassis capabilities of its flagship sedan, the ET9, in a new video, and hinted at the upcoming release of the next-generation NIO Phone.
Price Action: NIO shares are trading higher by 1.31% to $4.65 premarket at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography on Shutterstock
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What's Going On With NIO Shares Thursday?

WIIM

Nio shares are trading lower following a report suggesting the company plans to reduce car purchase incentives starting July 22.

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NIO stock has lost over 55% in the past year.
NIO plans to reduce car purchase incentives starting July 22, increasing prices for models like the ET5 and ES6 by RMB3,000 ($413.17) to RMB5,000, <a target="_blank" href="https://cnevpost.com/2024/07/17/nio-to-scale-back-incentives-next-week-report/" rel="noreferrer noopener">reported</a> CnEV Post.
Also Read:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39813669/whats-going-on-with-chinese-ev-maker-li-auto-shares-today" rel="noreferrer noopener"> What&#8217;s Going On With Chinese EV Maker Li Auto Shares Today?</a>
Investors can gain exposure to the stock via&nbsp;KraneShares MSCI China Clean Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGRN#NYSE">KGRN</a>) and&nbsp;KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>).
This adjustment follows the lead of German luxury carmakers in stepping away from price competition.
NIO&#8217;s decision aims to enhance gross margins, despite ongoing discounts of up to RMB28,000 still being offered for vehicle orders.
The company confirmed it&#8217;s not a price hike but an adjustment in incentive levels, CnEV Post added.
Under NIO&#8217;s previous July purchase incentives, customers ordering the ET5 and ET5 Touring received a discount of RMB24,000. For the ES6 and EC6, the discount was RMB28,000.
Post-July 22, these discounts will be reduced to RMB21,000 for the ET5 and ET5 Touring, and RMB23,000 for the ES6 and EC6.
Discounts for other NIO models remain unchanged: RMB20,000 off the ET7, RMB28,000 off both the EC7 and ES8, and RMB60,000 off the ES7.
Price Action: NIO shares are trading lower by 5.5% to $4.635 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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What's Going On With NIO Shares Today?

Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) shares are trading marginally lower on Wednesday<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> in the premarket session</a>.
Chinese stocks may be under pressure after the country&#8217;s softer-than-expected second-quarter GDP growth. According to official data released on Monday, the economy expanded by 4.7%.
This growth rate, lower than the 5.1% predicted by analysts, reflects the <a target="_blank" href="https://www.benzinga.com/news/24/07/39765072/mohamed-el-erian-notes-chinas-q2-gdp-growth-disappoints-at-4-7-amid-real-estate-woes" rel="noreferrer noopener">slowest pace since the first quarter of 2023</a>.
Meanwhile, Li Auto has reportedly established a specialized team focused on investing in comprehensive AI (artificial intelligence) technology, following in the footsteps of NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>).
Li Auto has recently formed a team dedicated to end-to-end large-model autonomous driving, comprising slightly more than 200 members, with additional support from members of other teams as needed, <a target="_blank" href="https://cnevpost.com/2024/07/17/li-auto-follows-nio-form-team-on-end-to-end-tech/" rel="noreferrer noopener">reported </a>CnEV Post, citing a local media outlet.
Li Auto is actively expanding its computing power for training after opting for the end-to-end solution. The company views supercomputing centers as the next competitive frontier in smart driving.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39789018/baidu-backed-jiyue-to-launch-jiyue-07-electric-sedan-in-september-larger-than-tesla-model-3-repo" rel="noreferrer noopener">Baidu-Backed Jiyue To Launch Jiyue 07 Electric Sedan In September; Larger Than Tesla Model 3: Report</a>
Last year, Li Auto procured over 300 Nvidia servers from Volcano Engine, ByteDance&#8217;s cloud service platform. Additionally, the company is collaborating with cloud service providers such as Alibaba Cloud and Baidu Cloud.
Following Nio&#8217;s precedent, which established a department focused on end-to-end large models, Li Auto is not the only company taking such organizational steps.
Li Auto has divided its smart driving team into two primary groups: one focused on algorithm development and the other on mass production development, totaling approximately 800 team members.
Li Xiang, founder, chairman, and CEO of Li Auto, announced plans to launch an end-to-end +VLM (Vision-Language Model) autonomous driving solution by the end of this year or early next year.
This system will be trained using over 10 million clips.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) achieved promising results with its FSD V12 release earlier this year, solidifying industry consensus around Tesla&#8217;s use of end-to-end large AI models. This has prompted more Chinese car companies to explore similar approaches.
Price Action: LI shares are trading lower by 1.44% to $20.60 premarket at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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What's Going On With Chinese EV Maker Li Auto Shares Today?

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading slightly higher on Tuesday.</a>
The company has expanded to 50 battery swap stations across Europe, with a majority situated in Germany and Norway, <a target="_blank" href="https://cnevpost.com/2024/07/16/nio-50-swap-stations-europe/" rel="noreferrer noopener">reported </a>CnEV Post.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NIO stock has lost over 55% in the past year. Investors can gain exposure to the stock via KraneShares MSCI China Clean Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGRN#NYSE">KGRN</a>) and&nbsp;KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>).
As of July 15, NIO operated 15 battery swap stations in Norway and 17 in Germany, based on data compiled by CnEVPost.
&#8220;On July 15, the 50th Power Swap Station in Europe officially opens in Norway. This latest Power Swap Station, located in Oslo, is a significant landmark in our commitment to developing a European infrastructure that supports smooth travel for every NIO user,&#8221; the EV firm <a target="_blank" href="https://x.com/NIOGlobal/status/1813154633487118590" rel="noreferrer noopener">wrote </a>on X, formerly Twitter.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39787139/chinese-ev-thrive-despite-tariff-hikes-foreign-rivals-struggle" rel="noreferrer noopener">Chinese EV Thrive Despite Tariff Hikes, Foreign Rivals Struggle</a>
According to data tracked by CnEVPost, NIO has notably ramped up its construction of battery swap stations in Europe, with seven new additions just this month.
Amid increased tariffs on Chinese EV imports into Europe, NIO and other Chinese EV makers are navigating a challenging regulatory landscape. The European Commission announced temporary countervailing duties starting July 5, adding to NIO&#8217;s existing 10% tariff with a weighted average of 20.8%.
NIO indicated it would maintain current pricing for its models in European markets despite the tariffs. However, it acknowledged the possibility of future price adjustments due to the imposed tariffs, CnEV Post added.
Price Action: NIO stock is up 1.19% at $4.68 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography on Shutterstock
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On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended going for Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>). &#8220;Jayshree Ullal [President and CEO of Arista Networks] is an amazing businessperson, and I think it's a <a href="https://www.benzinga.com/quote/ANET/earnings">fantastic stock,&#8221; he added.</a>
Arista Networks is expected to release its financial results for the second quarter, after the closing bell on Tuesday, July 30. Analysts expect the company to report quarterly earnings at $1.94 per share on revenue of $1.65 billion. Arista had posted earnings of $1.58 per share on revenue of $1.46 billion in the year-ago period.
NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) is &#8220;one of those stocks where if you sell it right here, some clown will come out and be real positive about it,&#8221; the &#8220;Mad Money&#8221; host said. &#8220;Let's just wait until all that stuff happens and then you can sell it.&#8221;
NIO reportedly launched the Banyan 2.6.5 CN system for vehicles utilizing the NT 2.0 technology platform on July 11. This update introduces enhanced AEB (automatic emergency braking) functionality, which has been fine-tuned with artificial intelligence technology, <a href="https://www.benzinga.com/markets/equities/24/07/39749573/nio-advances-vehicle-safety-with-ai-enhanced-automatic-emergency-braking-and-navigation-features">CnEV Post reported</a>.
Cramer recommended not to sell Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) down here. &#8220;It's very tough to justify owning the stock,&#8221; he added.
On July 11, JPMorgan analyst Tami Zakaria maintained Deere with a Neutral rating, while cutting the price target from $385 to $375.
Price Action:
<ul>
<li>Arista shares fell 0.4% to settle at $360.42 on Monday.</li>
<li>Deere shares gained 1.7% to close at $371.67 during Monday's session.</li>
<li>NIO shares fell 4.9% to close at $4.63 on Monday.</li>
</ul>
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Photo: Shutterstock

Jim Cramer Says If You Sell This Chinese EV Stock Now, 'Some Clown' Will Be 'Real Positive About It,' Wait Until 'All That Stuff Happens'

Despite new tariffs on Chinese electric vehicles (EVs), foreign automakers are struggling to stay competitive in China&#8217;s burgeoning EV market.
What Happened: A study by AlixPartners reveals that foreign car companies are falling behind in China&#8217;s EV market, which represents over 40% of new passenger cars sold in the country. Stephen Dyer, co-leader and head of AlixPartners&#8217; Asia automotive practice suggests that foreign brands must adopt a different approach and take more risks to make a mark in the market, CNBC <a href="https://www.cnbc.com/2024/07/16/foreign-carmakers-in-china-face-increasingly-precarious-situation.html">reported</a> on Tuesday.
"Unless [foreign car brands] change their mindset of developing and manufacturing cars to one that is more willing to take risks, and consider how to design and manufacture a car from so-called first principles, their position will become increasingly precarious," Dyer, who spoke in Mandarin, was quoted.
Even with the U.S. doubling tariffs on Chinese EVs from 25% to 100% and the EU imposing tariffs of up to 38% on Chinese EV imports, Chinese automakers continue to profit. Dyer believes these tariffs will likely prompt China EV makers to shift towards local production strategies in Europe, thus reducing transportation costs.
Currently, Chinese-made EVs are 35% cheaper to produce than comparable vehicles from foreign automakers. While some foreign firms are trying to penetrate China&#8217;s market by partnering with local brands, others are attempting to cut prices. However, Dyer warns that without a significant change in strategy, foreign carmakers may struggle to maintain a long-term presence in the China market.
See Also: <a href="https://www.benzinga.com/news/24/07/39761579/biden-vs-trump-latest-poll-reveals-surprise-following-presidents-widely-criticized-debate-performanc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: Latest Poll Reveals Surprise Following President&#8217;s Widely Criticized Debate Performance</a>
Last month, a Bank of America analyst recommended that U.S. automakers based in Detroit should exit China &#8220;as soon as they possibly can&#8221; due to their disadvantage against China&#8217;s EV giants. AlixPartners predicts that by 2030, Chinese brands will control over 70% of the NEV market in China and a third of the global auto market.
Why It Matters: Over the past decade, China has invested more than<a href="https://www.benzinga.com/markets/asia/24/06/39429812/china-invested-more-than-230b-over-last-decade-to-develop-its-ev-industry-study-finds"> $230 billion in its EV industry.</a> This massive investment, coupled with favorable domestic policies, has given Chinese automakers a significant advantage over foreign competitors.
Furthermore, Chinese EV makers like NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) are advancing their <a href="https://www.benzinga.com/markets/equities/24/07/39689355/chinese-ev-innovations-nio-and-xpeng-advance-in-house-smart-driving-chips-tape-out-progress-and-">in-house smart driving chips</a>. This technological advancement could further strengthen their position in the market.
In response to increased tariffs from the EU and the U.S.<a href="https://www.benzinga.com/news/24/07/39662998/chinese-ev-makers-pivot-to-africa-amid-eu-and-us-tariff-hurdles">, Chinese EV manufacturers </a>are exploring alternative markets, including Africa. This strategic move could help them mitigate the impact of the tariffs and continue their growth trajectory.
Price Action: According to <a href="https://pro.benzinga.com">Benzinga Pro,</a> Nio, Li Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and Xpeng shares listed in the U.S. have lost at least 40% so far this year, while Warren Buffett-backed BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) is up 16.22%
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39761487/nancy-pelosi-reportedly-urged-to-end-democratic-turmoil-by-calling-for-bidens-withdrawal-from-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi Reportedly Urged To End Democratic Turmoil By Calling For Biden&#8217;s Withdrawal From Presidential Election</a></li>
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Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Shares of SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) fell sharply during Monday's session after the company announced a <a href="https://www.benzinga.com/markets/equities/24/07/39774515/solaredge-cuts-400-more-jobs-in-2024-navigating-market-woes-and-inventory-challenges">workforce reduction</a>.
SolarEdge disclosed a decision to lay off 400 employees. The company stated that 200 of these job cuts are in Israel. The action involves reducing headcount and discretionary spending across all departments.
SolarEdge Technologies shares dipped 12.2% to $27.77 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares climbed 148% to $1.4850 after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.</li>
<li>AEON Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NASDAQ">AEON</a>) gained 72% to $2.41.</li>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) gained 65% to $9.90.</li>
<li>DatChat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DATS#NASDAQ">DATS</a>) shares jumped 65% to $1.75.</li>
<li>Scinai Immunotherapeutics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCNI#NASDAQ">SCNI</a>) shares climbed 61% to $6.53 after the company announced in-vivo preclinical study results of NanoAb.</li>
<li>American Rebel Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) gained 44.5% to $0.7514.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) rose 32.8% to $41.03 following the attempted assassination of Donald Trump. The company's CEO Devin Nunes issued the following statement in response to the attempted assassination of President Donald J. Trump, &#8220;I offer my deepest sympathies to the family of the rally goer killed in Butler, Pennsylvania, and to those who were wounded. I thank God President Trump survived the assassination attempt and is now safe.&#8221;</li>
<li>MIRA Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) shares gained 28.3% to $0.7632 after the company said testing confirmed MIRA&#8217;s preliminary beliefs regarding potential treatment for neurological and neuropsychiatric disorders.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 23.5% to $61.17.</li>
<li>Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INOD#NASDAQ">INOD</a>) shares climbed 22.1% to $20.66. Maxim Group analyst Allen Klee initiated coverage on Innodata with a Buy rating and announced a price target of $30.</li>
<li>BitFuFu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUFU#NASDAQ">FUFU</a>) rose 20.3% to $5.16 after Bitcoin rose above $62,000.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) climbed 19% to $8.32 after the Pluristyx announced a license agreement with the company.</li>
<li>AMMO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWW#NASDAQ">POWW</a>) gained 17.5% to $1.95. Shares of prison and firearm stocks traded higher following the attempted assassination of Donald Trump, which has lifted stocks that could benefit from a Trump presidency on Monday.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) climbed 15.6% to $4.28.</li>
<li>Algoma Steel Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTL#NASDAQ">ASTL</a>) gained 13.7% to $8.35.</li>
<li>Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) gained 13% to $19.17 after Bitcoin rose above $62,000.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) rose 11.5% to $1,556.89 amid a rise Bitcoin.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained 11.2% to $242.51 after Bitcoin rose above $62,000.</li>
<li>Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) climbed 10.3% to $29.91.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gained 6% to $263.03 possibly after CEO Elon Musk endorsed former President Trump on X after the attempted assassination. In response to the attack, Trump-adjacent stocks are rising on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>ASLAN Pharmaceuticals Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASLN#NASDAQ">ASLN</a>) shares fell 45.7% to $1.3687 after the company announced receipt of Nasdaq delisting determination.</li>
<li>Kazia Therapeutics Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KZIA#NASDAQ">KZIA</a>) shares tumbled 28% to $0.6387.</li>
<li>Locafy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCFY#NASDAQ">LCFY</a>) dipped 25.9% to $4.1401.</li>
<li>Lexeo Therapeutics, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXEO#NASDAQ">LXEO</a>) fell 25.1% to $13.18 after the company reported interim Phase 1/2 clinical data of LX2006 for the treatment of friedreich ataxia cardiomyopathy.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) declined 25% to $3.1845.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) dipped 21% to $0.3436 after jumping 109% on Friday.</li>
<li>Catheter Precision, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTAK#NYSE">VTAK</a>) fell 18.5% to $3.12. Catheter Precision announced effectiveness of 1-for-10 reverse stock split.</li>
<li>Sequans Communications S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQNS#NYSE">SQNS</a>) dipped 17.3% to $0.4733.</li>
<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares fell 17.1% to $0.5912. Vicinity Motor shares surged around 111% on Friday after the company announced CARB certification for the VMC 1200 class 3 electric truck.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) fell 17.1% to $15.26 after surging 88% on Friday.</li>
<li>Moolec Science SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLEC#NASDAQ">MLEC</a>) fell 16.6% to $0.86. Moolec signed an offtake agreement with a major global CPG company to hit the US market in 2025.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) shares fell 14.5% to $0.0854 after rising around 22% on Friday.</li>
<li>Eastside Distilling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) shares dipped 14.3% to $1.0199.</li>
<li>Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) fell 13.3% to $16.55 after the company announced the termination of discussions with Arkhouse and Brigade.</li>
<li>TDH Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PETZ#NASDAQ">PETZ</a>) shares fell 12.7% to $1.45 after jumping 16% on Friday.</li>
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) shares declined 11.4% to $15.24 after gaining around 7% on Friday.</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) fell 10.5% to $3.8012. Cantor Fitzgerald analyst Andres Sheppard reiterated Lucid with an Underweight and maintained a $4 price target.</li>
<li>Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) fell 10% to $6.91 following the attempted assassination of Donald Trump, which has pressured stocks that could be impacted from a Trump presidency.</li>
<li>The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) fell 9.9% to $17.01. declared a quarterly common stock dividend of 17.25 cents per share.</li>
<li>Canadian Solar Inc. (NASDAQ:  CSIQ) dipped 8.6% to $15.79.</li>
<li>Rackspace Technology, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RXT#NYSE">RXT</a>) fell 7.7% to $2.3150.</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) fell 6.6% to $217.76. Shares of solar stocks traded lower following the attempted assassination of Donald Trump, which has pressured stocks that could be impacted from a Trump presidency on Monday.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares fell 5.8% to $4.5869. Shares of Chinese stocks traded lower after China reported softer-than-expected Q2 GDP growth.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39774143/bank-of-america-likely-to-report-lower-q2-earnings-here-are-the-recent-forecast-changes-from-wall-s">Bank of America Likely To Report Lower Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Why SolarEdge Shares Are Trading Lower By 12%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and peer Chinese technology stocks are trading lower Monday after China's economy grew slower than expected in the second quarter, with a protracted property downturn and job insecurity stalling recovery efforts.
The world's second-largest economy expanded by 4.7% from April to June, missing the 5.1% forecast by analysts and marking its slowest growth since Q1 2023.
Alibaba's domestic rivals, including PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), JD.Com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) and Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), are trading lower on Monday following the dismal macro report.
The report also hit Chinese electric vehicle stocks, including NIO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39747437/why-alibaba-stock-is-gaining-on-friday" rel="noreferrer noopener">Alibaba and Chinese AI Advances Propel Stock Amid Trade Surplus News</a>
The consumer sector is particularly concerned, where retail sales growth has slowed to an 18-month low due to deflationary pressures forcing price cuts on cars, food, and clothing.
"Overall, the disappointing GDP data shows that the road to hitting the 5% growth target remains challenging," said Lynn Song, chief economist for Greater China at ING, Reuters reports.
The ongoing property crisis worsened in June as new home prices dropped at the fastest pace in nine years, weakening consumer confidence.
This decline in property prices has also constrained local governments' ability to generate revenue through land sales, making economic recovery more difficult.
Analysts anticipate more policy easing, especially in the fiscal and housing sectors, to counteract the slowdown.
Goldman Sachs reduced its forecast for China's 2024 growth from 5.0% to 4.9%, citing the need for further stimulus measures. The National Bureau of Statistics (NBS) reported that quarterly growth came in at 0.7%, down from a revised 1.5% in the previous quarter, according to Reuters.
China has increased infrastructure spending and invested in high-tech manufacturing to offset weak domestic demand and a struggling property market. Despite this, both the yuan and Chinese stocks fell following the disappointing growth data, though markets later rebounded on expectations of more stimulus.
The slow growth in retail sales, rising unemployment, and reduced wages have left consumers cautious about spending.
In response, China's central bank governor has pledged to maintain a supportive monetary policy.
Price Action: BABA shares are trading lower by 2% to $78.05 in the premarket session at the last check on Monday.
Discliamer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

BEKE

New Oriental Education & Technology Group

TCOM

YUMC

Shares of Chinese stocks are trading lower after China reported softer-than-expected Q2 GDP growth. Chinese stocks are also under pressure following an assassination attempt on Trump, which could impact the 2024 election.

Most electric vehicle stocks <a href="https://www.benzinga.com/markets/equities/24/07/39757506/inflation-drop-fuels-rate-cut-speculation-investors-shift-to-sector-laggards-russell-2000-surges">advanced along with the broader market</a> in the week that ended on July 12, catching up with market leader Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gain in the previous week. The Elon Musk-led company&#8217;s shares stumbled after a 11-session winning streak.
Here are the key events that happened in the EV space during the week:
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Musk Tightlipped On Robotaxi Rumors: Tesla shares were going strong and completed a 11-session winning-streak on Wednesday but reversed course on Thursday, stung by a report that said the EV maker would push back the robotaxi launch event by two months. The stock fell over 8% during the session before recovering in the very next session. Skeptics sensed a far more serious issue than the mere two-month delay, but bulls reasoned that the company could be perfecting the technology.
Musk, who is otherwise very vocal on X, the social media platform he owns, chose to remain silent on the rumored delay. 
The week saw Tesla launching a new Model Y configuration in the U.S., namely the Long Range Rear-Wheel Drive, which costs under $35K and is eligible for the $7,500 federal tax subsidy. Separately, a COX Automotive report said Tesla&#8217;s Cybertruck was the best-selling EV priced at over $100,000 and that the company sold over 3,200 units in June alone. 
Analysts have ratcheted up their earnings per share estimates for Tesla by about 9% over the past week, going by data provided by Yahoo Finance. The improved assessment potentially reflects better-than-feared first-quarter deliveries. The company is scheduled to announce its quarterly results on July 23.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Rivian At Odds With Union: EV startup Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) did not warm up to the United Auto Workers&#8217; union despite pressure from the Joe Biden administration, Bloomberg <a href="https://www.bloomberg.com/news/newsletters/2024-07-12/rivian-s-labor-union-reticence-impedes-effort-to-tap-us-funds">reported</a>. This has reportedly hindered the R.J. Scaringe-led company from accessing federal funding available under the Inflation Reduction Act of 2022 for constructing its Georgia plant. The company initially intended to manufacture EVs under the new R2 platform at the new plant, but it revised its plan and instead added manufacturing lines at its existing facility in Normal, Illinois.
Lucid Reports Strong Q2 Deliveries: Luxury EV maker Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) reported second-quarter deliveries of 2,394 units, up over 70% from the 1,404 EVs it delivered a year ago. Sales rose about 22% from the previous quarter. The company produced 2,110 cars in the second quarter, an improvement from the 1,728 units manufactured in the first quarter of 2024, but down from 2,173 units a year ago. The company currently sells four variants of the Air sedan, which has a starting price of $69,900.
Polestar Unveils New BST Concept Car: Swedish EV maker Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) unveiled a two-seat roadster concept at the Goodwood Festival of Speed. The Concept BST, which is the precursor of the 2026 Polestar 6, is the latter&#8217;s track-focused evolution. It features bespoke bodywork, finished in a classic motorsport silver, with muscular flared arches, extra wide track and 22-inch forged alloy wheels. The motorsport theme continues at the rear with an extreme rear wing and a design completed by bespoke racing livery-inspired graphics.
GM, Stellantis To Be Awarded DOE Funding: The Department of Energy announced on Thursday that it would allocate $1.7 billion to support the conversion of 11 shuttered or at-risk auto manufacturing and assembly facilities across eight states—Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland, and Virginia—to manufacture electric vehicles and their supply chain components. This is part of the Biden administration&#8217;s Investing in America agenda.
General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) said it would use the $500 million grant from the Department of Energy and its own investment to prepare its Lansing Grand River for electrification. A Reuters report said Chrysler parent Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) will receive $334.8 million to convert the shuttered Belvidere Assembly plant to build EVs and $250 million to convert its Indiana Transmission Plant in Kokomo to produce EV components.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session down 1.83% at $21.11 according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF advanced 4.46%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39751949/tesla-bulls-bear-weigh-in-on-robotaxi-delay-very-odd-or-biding-time-for-eye-popping">Tesla Bulls, Bear Weigh In On Robotaxi Delay: &#8216;Very Odd&#8217; Or Biding Time For &#8216;Eye-Popping&#8217; Prototype?</a></li>
</ul>
EV Stock Performances This Week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-1.31%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>+5.41%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+11.62%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+4.01%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+28.36%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>+4.10%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>+18.87%</td>
</tr>
<tr>
<td>Rivian </td>
<td>+22.45%</td>
</tr>
<tr>
<td>Lucid</td>
<td>+45.05%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NYSE">FFIE</a>)</td>
<td>+5.50%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>+11.01%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>+12.27%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

Tesla Q2 EPS Estimate Bumped Up, Rivian's Cold Shoulder To Union, Lucid's 70% Sales Jump And More: Biggest EV Stories Of The Week

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/12/24</td>
<td>$250.00</td>
<td>$28.6K</td>
<td>24.2K</td>
<td>254.3K</td>
</tr>
<tr>
<td>RIVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/12/24</td>
<td>$18.50</td>
<td>$34.1K</td>
<td>1.1K</td>
<td>26.3K</td>
</tr>
<tr>
<td>F</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$14.00</td>
<td>$42.5K</td>
<td>4.3K</td>
<td>8.8K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/12/24</td>
<td>$192.50</td>
<td>$116.1K</td>
<td>3.3K</td>
<td>8.0K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$4.00</td>
<td>$53.5K</td>
<td>12.2K</td>
<td>4.6K</td>
</tr>
<tr>
<td>BYON</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$15.00</td>
<td>$96.9K</td>
<td>2.7K</td>
<td>1.6K</td>
</tr>
<tr>
<td>ETSY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/16/24</td>
<td>$65.00</td>
<td>$27.4K</td>
<td>2.0K</td>
<td>1.0K</td>
</tr>
<tr>
<td>PDD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$140.00</td>
<td>$43.4K</td>
<td>25.8K</td>
<td>677</td>
</tr>
<tr>
<td>KMX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$92.50</td>
<td>$33.0K</td>
<td>752</td>
<td>351</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>08/09/24</td>
<td>$9.00</td>
<td>$105.2K</td>
<td>33</td>
<td>139</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 212 contract(s) at a $250.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $28.6K, with a price of $136.0 per contract. There were 24294 open contracts at this strike prior to today, and today 254384 contract(s) were bought and sold. 
• For RIVN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 920 contract(s) at a $18.50 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $34.1K, with a price of $37.0 per contract. There were 1135 open contracts at this strike prior to today, and today 26339 contract(s) were bought and sold. 
• Regarding F (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on July 19, 2024. Parties traded 1636 contract(s) at a $14.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $42.5K, with a price of $26.0 per contract. There were 4399 open contracts at this strike prior to today, and today 8856 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 402 contract(s) at a $192.50 strike. This particular call needed to be split into 45 different trades to become filled. The total cost received by the writing party (or parties) was $116.1K, with a price of $289.0 per contract. There were 3368 open contracts at this strike prior to today, and today 8022 contract(s) were bought and sold. 
• Regarding NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), we observe a call option trade with neutral sentiment. It expires in 7 day(s) on July 19, 2024. Parties traded 630 contract(s) at a $4.00 strike. The total cost received by the writing party (or parties) was $53.5K, with a price of $85.0 per contract. There were 12226 open contracts at this strike prior to today, and today 4611 contract(s) were bought and sold. 
• For BYON (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>), we notice a call option trade that happens to be neutral, expiring in 70 day(s) on September 20, 2024. This event was a transfer of 404 contract(s) at a $15.00 strike. The total cost received by the writing party (or parties) was $96.9K, with a price of $240.0 per contract. There were 2761 open contracts at this strike prior to today, and today 1638 contract(s) were bought and sold. 
• For ETSY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), we notice a call option trade that happens to be neutral, expiring in 35 day(s) on August 16, 2024. This event was a transfer of 100 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $27.4K, with a price of $274.0 per contract. There were 2079 open contracts at this strike prior to today, and today 1018 contract(s) were bought and sold. 
• Regarding PDD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), we observe a put option trade with bullish sentiment. It expires in 35 day(s) on August 16, 2024. Parties traded 100 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $43.4K, with a price of $435.0 per contract. There were 25804 open contracts at this strike prior to today, and today 677 contract(s) were bought and sold. 
• Regarding KMX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>), we observe a call option sweep with bullish sentiment. It expires in 98 day(s) on October 18, 2024. Parties traded 147 contract(s) at a $92.50 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $33.0K, with a price of $225.0 per contract. There were 752 open contracts at this strike prior to today, and today 351 contract(s) were bought and sold. 
• Regarding QS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), we observe a call option sweep with neutral sentiment. It expires in 28 day(s) on August 9, 2024. Parties traded 856 contract(s) at a $9.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $105.2K, with a price of $123.0 per contract. There were 33 open contracts at this strike prior to today, and today 139 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

BYON

ETSY

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) reportedly launched the Banyan 2.6.5 CN system for vehicles utilizing the<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39727992/tesla-bull-says-trump-win-is-negative-for-ev-industry-but-potential-positive-for-el" rel="noreferrer noopener"> NT 2.0 technology platform on July 11.</a>
This update introduces enhanced AEB (automatic emergency braking) functionality, which has been fine-tuned with artificial intelligence technology, <a target="_blank" href="https://cnevpost.com/2024/07/12/nio-brings-enhanced-aeb-software-update/" rel="noreferrer noopener">CnEV Post </a>reported.
According to an update log on the Nio App, the enhanced AEB feature now improves the vehicle&#8217;s capability to detect and avoid vehicles, cyclists, and pedestrians crossing diagonally ahead, the report read.
This update marks a milestone in the industry, as it is the first AEB system to integrate end-to-end technology.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39731884/hewlett-packard-enterprise-inks-pact-with-nvidia-to-power-japans-abci-3-0-to-lead-as-fastest-ai-" rel="noreferrer noopener">Hewlett Packard Enterprise Inks Pact With Nvidia To Power Japan&#8217;s ABCI 3.0 To Lead As Fastest AI Supercomputer</a>
By leveraging insights gained from human driving experiences, the system enhances its ability to accurately determine the location, direction of travel, and speed of targets in front of the vehicle.
This advancement aims to further minimize the risk of collisions, CnEV Post added.
Zhang Weifeng, Nio&#8217;s smart driving product manager, stated in a video posted on Weibo today that the enhanced AEB utilizing end-to-end technology can handle more hazardous scenarios with greater precision in braking timing compared to traditional AEB systems, the report read.
In the Banyan 2.6.5 CN system update, Nio has also enhanced its NOP+ (Navigate on Pilot Plus) capabilities, significantly improving its ability to navigate through full scenarios.
Price Action: NIO shares are trading higher by 2.36% to $4.79 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39724201/tesla-sold-over-3-2k-cybertrucks-in-june-says-report-heres-how-it-impacted-ev-makers-average-veh" target="_blank" rel="noreferrer noopener">Tesla Sold Over 3.2K Cybertrucks In June, Says Report: Here's How It Impacted EV Maker's Average Vehicle Prices</a></li>
</ul>

Following Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) above-consensus second-quarter deliveries number, bullish analysts suggest turnaround may have begun at the electric vehicle maker. Wedbush analyst Daniel Ives on Thursday weighed on how a <a href="https://www.benzinga.com/news/24/07/39689367/biden-vs-trump-new-polls-by-democratic-pollsters-show-incumbent-faces-uphill-task-flag-this-combo-ti">potential second term</a> for former President Donald Trump would influence the fortunes of the Elon Musk-led company.
2M Goal Will Be Hit: With the price cuts in the rearview mirror and demand stabilizing globally for EVs, Tesla is on track to achieve a 2 million annual trajectory over the coming quarters, said Ives in a note. He noted that comparisons get easier in 2025. Tesla has reported two straight quarters of sales decline for now. 
The Street recognizing Tesla as the most &#8220;undervalued AI play&#8221; in the market is key for the stock, the analyst said. The EV maker&#8217;s shares have gained over 44% since June 25 and have been on an 11-session winning streak, with the most ever being a 13-session run in June last year.
AI Future: &#8220;A historical Robotaxi Day ahead for Musk and Tesla on August 8th that will lay the yellow brick road to FSD and an autonomous future,&#8221; Ives said. The analyst estimates that the AI story alone could be worth $1 trillion to the broader Tesla story over the coming years.
The key to Tesla reclaiming its $1 trillion valuation is the &#8220;autonomous and FSD vision taking hold for Tesla which appears to be inflecting with this latest FSD v12.4 and now China FSD testing underway,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/how-to-buy-tesla-stock">How To Buy Tesla Stock</a>
Trump Impact: Following the first presidential debate held on June 27, in which President Joe Biden turned in a dismal performance, the odds of a Trump victory have increased. &#8220;We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled, however for Tesla we see this as a potential positive,&#8221; Ives said.
But Tesla is relatively better positioned, according to the bullish analyst. &#8220;Tesla has the scale and scope that is unmatched in the EV industry and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment,&#8221; he said. Additionally, higher China tariffs would continue to push away cheaper Chinese EV players such as BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) and Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) from flooding the US market over the coming years.
Bullish View Intact: Ives maintained an Outperform rating and a $300 price target for Tesla stock. The price target suggests that the stock has roughly about 14% upside potential over the year.
In premarket trading on Thursday, Tesla edged down 0.05% to $263.13, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39724201/tesla-sold-over-3-2k-cybertrucks-in-june-says-report-heres-how-it-impacted-ev-makers-average-veh">Tesla Sold Over 3.2K Cybertrucks In June, Says Report: Here&#8217;s How It Impacted EV Maker&#8217;s Average Vehicle Prices</a></li>
</ul>
Photos by Frederic Legrand &#8211; COMEO on Shutterstock

Reiteration

Analyst Ratings

BYDDY

Tesla Bull Says Trump Win Is Negative For EV Industry, But 'Potential Positive' For Elon Musk-Led Company: Here's Why

Deep-pocketed investors have adopted a bullish approach towards NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NIO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for NIO. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 2 are puts, totaling $2,415,863, and 7 are calls, amounting to $471,417.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2.0 to $25.0 for NIO during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of NIO stands at 17055.86, with a total volume reaching 3,155.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in NIO, situated within the strike price corridor from $2.0 to $25.0, throughout the last 30 days.
<h3>NIO Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720644383_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NIO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$20.4</td>
<td>$20.35</td>
<td>$20.35</td>
<td>$25.00</td>
<td>$2.1M</td>
<td>64</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NIO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$1.24</td>
<td>$1.19</td>
<td>$1.23</td>
<td>$4.00</td>
<td>$307.5K</td>
<td>34.6K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/17/25</td>
<td>$2.93</td>
<td>$2.87</td>
<td>$2.9</td>
<td>$2.00</td>
<td>$145.0K</td>
<td>678</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$0.77</td>
<td>$0.75</td>
<td>$0.75</td>
<td>$4.00</td>
<td>$112.5K</td>
<td>13.0K</td>
<td style="text-align: right;">457</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.06</td>
<td>$1.89</td>
<td>$1.89</td>
<td>$3.00</td>
<td>$60.4K</td>
<td>1.6K</td>
<td style="text-align: right;">485</td>
</tr>
</tbody>
</table>

<h3>About NIO</h3>
Nio is a leading electric vehicle maker, targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations such as battery swapping and autonomous driving technologies. Nio launched its first model, its ES8 seven-seater electric SUV, in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold over 160,000 EVs in 2023, accounting for about 2% of the China passenger new energy vehicle market.
Having examined the options trading patterns of NIO, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of NIO</h3>
<ul>
<li>With a volume of 43,204,786, the price of NIO is up 2.89% at $4.63. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 48 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest NIO options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

NIO Unusual Options Activity

Shares of US-listed Chinese EV companies are trading higher amid a possible rebound. Strength may be due to an overall increase in EV demand.

NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) introduced the inaugural model of its sub-brand Onvo (Ledao in China), the L60, on May 15 without revealing the details <a target="_blank" href="https://www.benzinga.com/electric-vehicles" rel="noreferrer noopener">regarding the battery.</a>
However, specifics regarding the model&#8217;s battery pack have emerged in a regulatory filing, <a target="_blank" href="https://cnevpost.com/2024/07/10/nio-onvo-l60-60-6-kwh-battery-pack/" rel="noreferrer noopener">reported</a> CnEV Post.
According to a recent catalog released by China&#8217;s Ministry of Industry and Information Technology (MIIT), the standard-range version of the Onvo L60 will come equipped with a 60.6 kWh battery pack, offering a CLTC range of 501 to 555 kilometers, the report read.
Nio introduced its Onvo sub-brand on May 15 and commenced pre-sales of the L60 at RMB 219,900 ($30,220), which includes the battery pack.
At the time of its launch, the electric vehicle (EV) maker did not disclose specifics about the battery pack of the Onvo L60.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39662998/chinese-ev-makers-pivot-to-africa-amid-eu-and-us-tariff-hurdles" rel="noreferrer noopener">Chinese EV Makers Pivot To Africa Amid EU And US Tariff Hurdles</a>
However, they stated that the standard-range version of the model achieves a CLTC range of 555 kilometers, while the long-range version surpasses 730 kilometers.
Unlike Nio&#8217;s main brand, which exclusively offers dual-motor models, the Onvo L60 will also be available in both single and dual-motor variants, CnEV Post added.
Meanwhile, NIO has completed the design phase of their internally developed smart driving chips, signaling their imminent<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39689355/chinese-ev-innovations-nio-and-xpeng-advance-in-house-smart-driving-chips-tape-out-progress-and-" rel="noreferrer noopener"> integration into production vehicles.</a>
This marks the next phase towards integrating these chips into production vehicles.
At Nio Day 2023 on December 23, Nio introduced its inaugural in-house autonomous driving chip, the Shenji NX9031, crafted using a cutting-edge 5 nm manufacturing process.
Price Action: NIO shares are trading higher by 2.11% to $4.595 at last check Wednesday.
Photo by Sundry Photography on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/07/39704967/chinese-etf-market-explodes-with-5x-increase-in-inflows-over-3-years-despite-some-ceasing-operations" target="_blank" rel="noreferrer noopener">Chinese ETF Market Explodes With 5X Increase In Inflows Over 3 Years Despite Some Ceasing Operations In US</a></li>
</ul>

What's Going On With NIO Stock Today?

On Monday, BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) signed a deal to open a $1 billion electric-vehicle factory in Turkey, directly threatening the dominance of Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) in several European markets.&nbsp;
<h3>BYD Is Boosting Its Presence In Europe</h3>
Although BYD has already been selling its EVs in Europe since 2021, most of its sales are still in China, but the Tesla killer is aggressively expanding its footrpint outside its home market. This will be its second facility in Europe, with the first currently undergoing construction in Hungary. Its facility in Turkey will be located in Manisa province, allowing BYD to avoid 40% tariffs in the country. In addition, Turkey has a customs trade deal with the European Union, which hit BYD with provisional tariffs&nbsp;for&nbsp;imported Chinese electric vehicles last week, adding a 17.4% charge to the existing 10% rate for vehicles that were not manufactured within the EU.
According to Investor&rsquo;s Business Daily, the annual capacity of BYD&rsquo;s facility in Turkey will be 150,000 EV, and it will also include a research and development division.&nbsp;
<h3>BYD Continues To Expand Its Global Footprint</h3>
Last Thursday, BYD opened its first EV plant in Southeast Asia or more precisely, in Thailand. Its first facility outside Asia will be in Brazil, as BYD took over old plant of&nbsp;Ford Motor&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) and started revamping it into an EV facility earlier this year. In June, Bloomberg reported BYD is also finalizing talks for a plant in Mexico, which is expected to create about 10,000 jobs. In this aspect, BYD is following the footsteps of Tesla, taking a leaf from its Gigafactory book.
While Tesla reported a second consecutive fall in deliveries, BYD posted record June and second-quarter sales. Tesla did beat estimates as the global sales drop of 4% was lower than what Wall street analysts expected, but BYD&nbsp;posted record second quarter sales of&nbsp;986,720 EVs,&nbsp;which translates to an increase of 57%. In June alone, BYD reported a 35% YoY growth as it sold 341,658 EVs. These robust figures are the result of affordable pricing as BYD led a price war during the first quarter with which it hurt its rivals, Tesla included.&nbsp;
Putting BYD&#39;s agressive approach aside, challenges and competitive threats&nbsp;remain.
However, even BYD has challenges ahead with much smaller rivals and startups intensifying their efforts. One example is Nio Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) that also reproted record June and second quarter sales last week. Last month, Nio revealed its affordable EV brand, Onvo.&nbsp;&nbsp;Also, Nio will be bringing an affordable EV to Europe next year.&nbsp;&nbsp;With Nio, along with other startups, planning to launch more affordable EVs in the coming months, the competitive threat is intensifying both for Tesla and BYD, whose margins have been hurt by price wars which they both used to boost demand.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Penny Stocks

BYD Has Its Eyes Set On Conquering Europe

NIO Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and&nbsp;XPeng Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) have reportedly completed the design phase of their internally developed smart driving chips, signaling their imminent integration into production vehicles.
This marks the next phase towards integrating these chips into production vehicles, CnEV Post reported, citing local media.
At Nio Day 2023 on December 23, Nio introduced its inaugural in-house autonomous driving chip, the Shenji NX9031, crafted using a cutting-edge 5 nm manufacturing process.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39684591/xpeng-follows-teslas-lead-reportedly-ditches-lidar-in-new-model-f57-for-pure-vision-driving" rel="noreferrer noopener">Xpeng Follows Tesla&#8217;s Lead? Reportedly Ditches LiDAR In New Model F57 For Pure Vision Driving</a>
The Shenji NX9031 chip will power Nio&#8217;s ET9 executive flagship sedan, currently open for pre-orders with deliveries scheduled to commence in the first quarter of 2025.
The Shenji NX9031 chip has completed the tape-out process and is currently undergoing testing.
According to the report, &#8220;taping out&#8221; marks the transition of a chip from design to manufacturing, a pivotal step in its journey toward mass production and commercialization.
Xpeng&#8217;s in-house smart driving chip is already in the taping out phase and is expected to yield initial pilot production results by August.
Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) is also progressing with its chip project under the codename &#8220;Schumacher,&#8221; which commenced later than Nio and Xpeng but is slated to tape out within the year, the report read.
Nio&#8217;s announcement of the NX9031 highlighted the chip&#8217;s impressive specifications, boasting over 50 billion transistors and performance on par with four NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Drive Orin X chips, per the report.
Nio&#8217;s current NT 2.0 platform-based models are equipped with four Orin X chips, delivering a total computing power of 1,016 Tops.
Price Action: NIO shares are trading higher by 0.22% to $4.47 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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NVDA

Chinese EV Innovations: NIO And XPeng Advance In-House Smart Driving Chips, Tape-Out Progress And Future Prospects Unveiled

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Each year, <a href="https://robbinsllp.com/my-stock-was-delisted/">hundreds of stocks are delisted</a> from U.S. exchanges. The path to delisting is usually long, and the signs are many. Generally speaking, delistings do not happen overnight. That means there is an opportunity for seemingly dead stocks to reverse course and head for a comeback.



Everyone loves the story of the underdog fighting against impossible odds and finding success. The stock market is not without <a href="https://financialpost.com/investing/5-stocks-that-are-back-from-dead">recent precedents.</a> Those precedents are similar to the biblical story of Lazarus, who rose from the dead after being entombed for several days.



Novavax (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvax-stock-quote/">NVAX</a>) and Carvana (NYSE:<a href="https://investorplace.com/stock-quotes/cvna-stock-quote/">CVNA</a>) are two great recent examples. Each has shown incredible resilience in fighting back after having been thought dead.&nbsp;



There&rsquo;s always room for more comeback stories in the stock market in the second half of 2024. Those comeback stories are likely to emerge from sectors that have recently suffered. Generally speaking, investors should look to the EV sector and <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> in order to find those opportunities. Comeback stories can emerge from any sector, of course. Let&rsquo;s look at three stocks to buy for a comeback.



<h2>Nokia (NOK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/08/nokia-nok-1600-300x169.jpg" alt="a backdrop featuring the Nokia logo with a mobile phone featuring the Nokia logo on its screen in the foreground"><div>Source: rafapress / Shutterstock.com</div></div>Nokia (NYSE:<a href="https://investorplace.com/stock-quotes/nok-stock-quote/">NOK</a>) used to be one of the major mobile phone manufacturers globally. The company certainly missed the smartphone opportunity. Nokia instead continued to rely on its legacy Symbian operating system, completely missing the app-driven smartphone opportunity. Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) released its smartphone in 2007. The rest is history.



Since then, Nokia has emerged as a 5G infrastructure threat, especially in light of global politics.&nbsp;The Chinese firm Huawei is one of its main rivals. Many countries are simply avoiding Huawei out of national security concerns. That is one of the reasons Nokia garnered increased attention over the past few years.



Nokia continues to focus on the security of its equipment and its <a href="https://www.npr.org/sections/thetwo-way/2017/02/15/515419519/nokias-famously-indestructible-phone-rumored-to-be-returning-to-shelves">reputation for reliable devices,</a> including the famously indestructible 3310.&nbsp;



And while the company continues to be a major 5G competitor, 5G hasn&rsquo;t produced expected returns yet. Networks are still largely under development. That means even those with 5G coverage are often left to use more extensive 4G networks. Higher plan costs simply aren&rsquo;t worth it yet, and until the build-out progresses, <a href="https://investorplace.com/industries/communications/5g/">5G stocks</a> will continue to suffer.



That&rsquo;s exactly why Nokia may rise again, positioning it for a comeback.



<h2>Intel (INTC)</h2>



<a href="https://investorplace.com/wp-content/uploads/2019/06/intel-one-api-889x500.png"><img width="300" height="168" src="https://investorplace.com/wp-content/uploads/2019/06/intel-one-api-889x500-300x168.png" alt="Intel Stock Bores Wall Street and Shareholders Should Be Worried"></a>Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) stock may already be in the early stages of a comeback. Well, maybe,&nbsp;maybe not.



The stock reeled off a string of day-to-day increases recently that were not expected. Some believe the momentum will be short-lived due to <a href="https://investorplace.com/2024/07/intc-stock-pops-this-analyst-says-an-intel-short-squeeze-is-underway/">short selling activity</a> rather than any positive fundamental improvements.



Intel has floundered in 2024. Still, the company continues to enact plans to become a major chip foundry in the future. Intel is convinced its expertise in Process technology and packaging makes it uniquely suited to the AI opportunity. While that may prove true in the future, it has not panned out thus far.



That&rsquo;s a good part of the reason Intel has performed so poorly in 2024. That poor performance has caused many to believe Intel is indeed dead. However, the company has too many positives to be counted out.&nbsp;



Intel is the favorite son of Uncle Sam. The company has received <a href="https://www.intel.com/content/www/us/en/newsroom/news/us-chips-act-intel-direct-funding.html">billions in subsidies,</a> and that investment could rise further. So, while Intel isn&rsquo;t currently a top performer, it might just be able to brute force its way into a better future through massive subsidization.



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/nio1600-6-300x169.png" alt="Nio Chinese automobile manufacturer logo displayed on mobile phone"><div>Source: Piotr Swat / Shutterstock.com</div></div>Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) stock is down nearly 50% this year. Yet, it continues to have legitimate potential to rise from the ashes, so to speak.



June deliveries nearly doubled, rising 98% to 21,209 vehicles. Quarterly deliveries reached 57,373, <a href="https://www.forbes.com/sites/greatspeculations/2024/07/03/nios-deliveries-doubled-in-june-why-is-the-stock-still-lagging/">increasing 144%</a> and exceeding the high end of guidance. Those figures clearly indicate that Nio has all the potential to rebound.



At the same time, there is a massive price war going on in the EV sector, especially in China. There are more than 100 EV brands competing in the space in the country. That continues to put substantial downward pricing pressure on manufacturers overall. In response, Nio has launched a lower-price brand called Onvo. That vehicle will compete against Tesla&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) Model Y. It&rsquo;s priced just above $30,000.&nbsp;



NIO is certainly down but not out. While the Chinese EV market is clearly reaching saturation, the company still has one of the best names and most dominant positions. Any number of those firms is much more likely to fail than Nio.



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/the-lazarus-effect-3-dead-stocks-that-could-rise-from-the-ashes/">The Lazarus Effect: 3 &#8216;Dead&#8217; Stocks That Could Rise From the Ashes</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Lazarus Effect: 3 'Dead' Stocks That Could Rise From the Ashes

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Given Nio&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) strong, recent growth, the low valuation of NIO stock and the high potential for its upcoming electric vehicles, I view its shares as a buy for value and growth-at-a-reasonable price (GARP) investors alike. Also likely to help the China-based automaker going forward are cost reductions spurred by its increasing utilization of robotics and Wall Street&rsquo;s renewed respect for EVs.



<h2>Strong Growth and a Bargain Valuation</h2>



Last month, Nio&rsquo;s deliveries <a href="https://seekingalpha.com/pr/19773717-nio-inc-provides-june-and-second-quarter-2024-delivery-update?hasComeFromMpArticle=false&amp;source=section%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">soared 98% versus</a> the same period a year earlier to 21,209. And in the second quarter, the automaker <a href="https://seekingalpha.com/news/4120922-nios-june-deliveries-surged-98-while-q2-deliveries-accelerated-to-144-yy">handed over 57,373</a> EVs, representing a huge 144% jump versus Q2 of 2023. Both the monthly and quarterly delivery figures<a href="https://seekingalpha.com/pr/19773717-nio-inc-provides-june-and-second-quarter-2024-delivery-update?hasComeFromMpArticle=false&amp;source=section%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews"> set new, all-time records </a>for the EV maker. Clearly, the company&rsquo;s EVs have become significantly more popular in China recently as its growth is trending way above the 31% delivery increase <a href="https://seekingalpha.com/article/4702809-nio-stock-path-forward-maintain-buy">that it managed</a> to generate in 2023. According to Seeking Alpha columnist Yiannis Zourmpanos, Nio&rsquo;s recent success is due to an increased focus on selling relatively affordable EVs.



After NIO stock plunged 49% in 2024, the shares&rsquo; valuation is quite low. Specifically, the name <a href="https://finance.yahoo.com/quote/NIO/key-statistics/">has a very low</a> price-to-sales ratio of 1.15 times.



<h2>Upcoming EVs Have Great Potential</h2>



Nio&rsquo;s upcoming Onvo L60 EV looks poised to take significant market share from Tesla&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) Model Y in China. 



The Onvo L60, which is expected to hit the market in September, <a href="https://electrek.co/2024/05/17/nios-new-low-cost-onvo-l60-ev-boost-sales-20k-month/">looks similar to the </a>Model Y in pictures, and it offers similar driving ranges to Tesla&rsquo;s iconic EV. However, the Onvo 360 starts at just $30,500 in China while the most affordable Model Y model has a sticker price of $34,600.



Also importantly, Nio intends to launch a large SUV in 2025 that will seat six or seven passengers. In general, there are not many large electric SUVs on the market. As a result, I believe that such EVs can easily generate a great deal of demand among consumers. Indeed, six months after Xpeng (NYSE:<a href="https://investorplace.com/stock-quotes/xpev-stock-quote/">XPEV</a>) launched its own large X9 SUV, the firm delivered an <a href="https://ir.xiaopeng.com/news-releases/news-release-details/xpeng-announces-vehicle-delivery-results-june-and-first-half">average of 2,200 of the vehicles</a> each month. That represents about 20% of its total deliveries. Moreover, large SUVs tend <a href="https://www.washingtonpost.com/business/2023/04/07/trucks-outnumber-cars/">to carry relatively high profit </a>margins for automakers.



Deutsche Bank is very upbeat on the Onvo 360&rsquo;s outlook, estimating that Nio can deliver 20,000 of the EVs per month. What&rsquo;s more, the bank expects Nio&rsquo;s deliveries to climb 62% in 2025. Coming on top of this year&rsquo;s very strong growth, such an increase would be very good for NIO stock.



<h2>Cost Cutting and the Street&rsquo;s Increased Bullishness</h2>



Nio <a href="https://eletric-vehicles.com/nio/nios-onvo-l60-test-cars-roll-off-the-line-humanoid-robots-in-training/">is actively training humanoid robots</a> and robot dogs to carry out inspections of its EVs. More importantly. the automaker is already utilizing 310 automated guided vehicle transport robots and 941 industrial robots in its assembly workshop. The automaker&rsquo;s intense utilization of robots has likely greatly reduced its costs and probably significantly contributed to the year-over-year tripling of its gross margin to nearly 5% in Q1. As the company increases its use of robotics, its costs are likely to fall further over the medium-and-long term.



Also likely to boost NIO stock is Wall Street&rsquo;s recently increased optimism about EVs. In general, I&rsquo;ve found that the Street&rsquo;s view of Chinese companies within a given sector is highly influenced by the same sector&rsquo;s performance in America. For example, because many U.S. solar-power firms have struggled in recent years, large American investors have generally avoided <a href="https://finance.yahoo.com/quote/JKS/">Chinese solar stocks as well</a>, even though Chinese solar companies have generally done relatively well during that period.



For the last year, the Street has been very bearish on EVs. However, that mindset has seemed to change after U.S. EV sales <a href="https://www.coxautoinc.com/market-insights/q2-2024-ev-sales/">climbed 11% </a>in Q2 versus the same period a year earlier. Indeed, NIO stock <a href="https://finance.yahoo.com/quote/NIO/">has advanced nearly 10% </a>this month in the wake of the release of last quarter&rsquo;s U.S. EV sales data. 



<h2>The Bottom Line on Nio Stock</h2>



Given Nio&rsquo;s lack of strong technological advantages over its peers, I don&rsquo;t expect it to deliver tremendous growth over the long term. However, for value investors and GARP investors, it is worth buying at this point. 



On the date of publication, Larry Ramer held a long position in XPEV. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/07/growth-vs-garp-value-investors-should-buy-nio-stock-now/">Growth vs. GARP: Value Investors Should Buy Nio Stock Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Growth vs. GARP: Value Investors Should Buy Nio Stock Now

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Inflation unexpectedly eased in June, providing the Federal Reserve with positive data as it approaches interest rate cuts. The Bureau of Labor Statistics reported a 3% annual price increase, down from 3.3% in May, with a 0.1% monthly decline. Core inflation rose 3.3%, the lowest since April 2021. Many notable economists have noted these results are extremely positive for those in the rate cut camp.



Now that the market expects rate cuts to happen on September, consumers are looking for more ways to invest in stocks that benefits from it. One option to consider are electric vehicle <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">(</a>EV) stocks, since this space is interest rate sensitive.



Still, investors must consider headwinds. The E.U. recently imposed tariffs on Chinese EV exports to counter competitive advantages from state subsidies. China is aggressively targeting EV growth, with new energy vehicles making up <a href="https://www.reuters.com/business/autos-transportation/chinas-byd-posts-21-jump-quarterly-ev-sales-closes-gap-with-tesla-2024-07-02/#:~:text=Sales%20of%20new%20energy%20vehicles,high%2C%20as%20per%20CPCA%20data.">46.7% of vehicle sales in May</a>.



Nevertheless, in June, manufacturers reported record deliveries, contributing to a 32% market share in 2023. The goal is to reach 40% by 2030 and 50% by 2035, supporting carbon neutrality by 2060. Tax exemptions further lower the cost of EV ownership by eliminating a 10% purchase tax.



These three EV stocks reported strong deliveries this quarter, despite a downturn in demand leading to price cuts. This has sparked a price war, squeezing profit margins across the sector. But if interest rate cuts do materialize, and costs come down for buyers, prices could feasibly rise as demand picks up.



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/onvo-nio1600-300x169.png" alt="ONVO brand logo on website. Chinese EV brand owned by Nio. NIO stock"><div>Source: Robert Way / Shutterstock.com</div></div>Chinese EV company Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) reported strong deliveries in June, reflecting a 98% increase year-over-year (YOY). In <a href="https://ir.nio.com/news-releases/news-release-details/nio-inc-provides-june-and-second-quarter-2024-delivery-update">Q2 of 2024,</a> total deliveries reached 57,373, amounting to whopping 143.9% growth. This performance underscores Nio&rsquo;s expanding influence in the EV market.



Recently, Nio <a href="https://cnevpost.com/2024/07/12/nio-brings-enhanced-aeb-software-update/">launched the Banyan 2.6.5 CN system on July 11</a>, featuring artificial intelligence (AI)-optimized automatic emergency braking (AEB). The upgrade aims to improve the car&rsquo;s ability to avoid obstacles on the road. It&rsquo;s the first AEB system using end-to-end technology, enhancing collision risk reduction by learning from human driving patterns.



Unlike traditional rule-based systems, end-to-end technology uses AI to address scenarios not covered by existing rules. Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) introduced FSD V12 earlier this year, yielding positive results and promoting this approach as an industry standard. Following suit, Nio reorganized its smart driving team on June 19 to prioritize end-to-end technology.



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/liauto1600-300x169.png" alt="Li Auto (Li Xiang) brand logo and electric car in store. A Chinese EV(electric vehicle) company"><div>Source: Robert Way / Shutterstock.com</div></div>Chinese EV leader Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) is undervalued despite its dominance. A key advantage is its EVs&rsquo; extended range, enhancing accessibility away from chargers. The company plans to invest 6 billion yuan in 5,000 new charging stations, diversifying the company&rsquo;s revenue streams over the long-term. Additionally, Li also recently launched the Li L6, adding to <a href="https://www.bloomberg.com/news/articles/2024-03-01/li-auto-unveils-what-it-says-is-world-s-biggest-electric-car?embedded-checkout=true">its lineup of innovative EV models</a>.&nbsp;



LI stock has sharply corrected and is nearing 52-week lows, presenting a prime buying opportunity. At a forward price-earnings ratio of 18.4-times, this stock does appear to be significantly undervalued. The drop is primarily due to lowered growth estimates and EU tariffs on Chinese EVs. 



However, Li Auto remains focused on the Chinese market and ended Q1 with a strong cash reserve of $13.7 billion, allowing for investment in technology and development. The company aims to launch level three self-driving technology by 2025 and may expand into the Middle East.



Financially robust, with revenues reaching $17.4 billion last year, growing 173%, and sustaining profitability, Li Auto&rsquo;s potential exceeds its current $22 billion valuation.



<h2>Rivian (RIVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/rivn1600-10-300x169.png" alt="Rivian (RIVN) logo is seen at a Rivian service center in South San Francisco, California. Rivian Automotive, Inc. is an electric vehicle automaker."><div>Source: Tada Images / Shutterstock.com</div></div>In a slowing U.S. EV market, consumer sentiment is crucial. More than 40% of EV owners plan to switch to traditional vehicles, highlighting the need for investor awareness. Edmunds&rsquo; latest EV tests provide valuable insights, including positive news for Rivian (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) investors.



Rivian&rsquo;s stock price target was <a href="https://www.investing.com/news/company-news/rivian-automotive-shares-target-boosted-by-mizuho-following-robust-q2-deliveries-93CH-3517117">raised from $11 to $15</a> by Mizuho, maintaining a neutral stance on RIVN stock. This followed Rivian&rsquo;s second-quarter vehicle deliveries of about 13,800, a 9% YOY increase, surpassing expectations of 11,500. Also, the company aimed for a 20% material cost reduction on its R1 model by Q4 and reaffirmed its 2024 delivery outlook, predicting low single-digit growth, below the 6% consensus.



In other positive news, Volkswagen (OTCMKTS:<a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/">VWAGY</a>) <a href="https://www.emergingtechbrew.com/stories/2024/07/11/volkswagen-rivian-joint-venture">recently partnered</a> with Rivian, investing up to $5 billion to develop next-gen software-defined vehicle platforms. This collaboration aims to enhance technology and reduce costs, benefiting both companies. Facing significant losses, Rivian seeks financial support to scale production and invest in future products, with Chief Executive Officer (CEO) RJ Scaringe highlighting the partnership&rsquo;s role in securing capital for growth.



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
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The post <a href="https://investorplace.com/2024/07/3-ev-stocks-to-buy-now-in-hopes-of-a-september-rate-cut/">3 EV Stocks to Buy Now in Hopes of a September Rate Cut</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 EV Stocks to Buy Now in Hopes of a September Rate Cut

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The market for electric vehicles and <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> and is going through a transition. Consumers have become frustrated by high prices, low battery range and a lack of charging infrastructure to support them. This has lead many people away from electric vehicles and towards gas-electric hybrids over the last 18 months. However, while <a href="https://www.forbes.com/sites/jimgorzelany/2024/07/15/sales-surge-shows-the-electric-cars-death-may-have-been-greatly-exaggerated/">growth in EV sales has slowed</a>, the market is still expanding, according to industry data.



Cox Automotive reports that overall <a href="https://www.coxautoinc.com/market-insights/q2-2024-ev-sales/">U.S. electric vehicle sales</a> rose 11.3% year-over-year (YOY) in Q2. Electric cars and trucks accounted for 8% of all new cars sold in the U.S. during Q2, up from 7.2% the previous year. There are now more than 100 EV models available in the U.S. And, EV sales continue to expand faster than sales of gasoline-powered vehicles.



 This is all to say that there are still investment opportunities to be found among electric vehicles. Here are three EV stocks that could grow your wealth. 



<h2>General Motors (GM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/gm1600-3-300x169.png" alt="Cadillac car and SUV dealership. Cadillac offers a full line of gas and electric EV vehicles. GM stock"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>EV sales for General Motors (NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) came roaring back in this year&rsquo;s second quarter. The Detroit automaker reported its best quarterly sales in nearly four years, boosted by <a href="https://insideevs.com/news/725293/gm-ev-sales-q2-2024/">a 40% increase in sales </a>of its EV models. GM racked up sales of 696,086 vehicles, its highest number of units sold since Q4 of 2020.



The <a href="https://markets.businessinsider.com/news/stocks/general-motors-q2-us-deliveries-rise-on-strong-ev-sales-1033527584">sales were driven higher</a> by electric vehicles, with deliveries in Q2 rising 40% YOY to 21,930 units. While EVs still comprise only 3% of total sales, the growth seen in Q2 is encouraging for the company&rsquo;s long-term strategy to move away from gas-powered cars, trucks and SUVs. According to Cox Automotive, GM&rsquo;s Q2 sales outpaced the global automotive industry, putting the biggest U.S. motor vehicle manufacturer back on top.



GM stock has risen 38% so far in 2024 and appears to have momentum. 



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/12/nio1600-7-300x169.png" alt="NIO logo and the Nio's user center, NIO House. Retail display of store at downtown LCM mall daytime NIO is a Chinese electric car brand sales person and customers inside"><div>Source: Andy Feng / Shutterstock.com</div></div>For a buy-the-dip candidate, look to Chinese electric vehicle maker Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>). The company&rsquo;s stock has taken a drubbing lately, having declined 41% so far this year. The shares now trade for less than $5, putting them in penny stock territory. While disappointing, there <a href="https://investorplace.com/2024/06/nio-stock-alert-the-big-turnaround-is-coming-for-the-china-ev-maker/">might be an opportunity</a> with NIO stock. Especially as the automaker undertakes an aggressive turnaround strategy.



In recent days, Nio announced that its long-time CFO Steven Wei Feng has <a href="https://www.reuters.com/business/autos-transportation/nio-cfo-feng-steps-down-ev-maker-appoints-insider-successor-2024-07-05/">resigned from the company</a>. His resignation was effective immediately. Feng is being replaced in the CFO role by Stanley Yu Qu, a company insider who has worked at Nio since 2016. His previous position at Nio was as a Senior Vice-President of Finance. Analysts claim to be encouraged by Qu&rsquo;s appointment as he has experience outside Nio having started his career at Lear Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/lea-stock-quote/">LEA</a>) and Johnson Controls (NYSE:<a href="https://investorplace.com/stock-quotes/jci-stock-quote/">JCI</a>).



Qu takes over the CFO role as Nio struggles with an electric vehicle price war in its home market. There have also been <a href="https://www.bbc.com/news/articles/cy99z53qypko">new tariffs</a> imposed on Chinese EVs entering Europe. The turnaround will likely take time, but Nio remains a leading EV manufacturer in the world&rsquo;s biggest automotive market.



<h2>Rivian Automotive (RIVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/rivn1600-10-300x169.png" alt="Rivian (RIVN) logo is seen at a Rivian service center in South San Francisco, California. Rivian Automotive, Inc. is an electric vehicle automaker."><div>Source: Tada Images / Shutterstock.com</div></div>Speaking of EV stocks that have turned around, how about Rivian Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>)? The EV start-up company&rsquo;s stock has been on fire lately. This has been fueled by the announcement that Volkswagen (OTCMKTS:<a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/">VWAGY</a>) is <a href="https://www.caranddriver.com/news/a61421276/volkswagen-rivian-investment-development/">investing up to $5 billion </a>in Rivian&rsquo;s operations. In the month since the VW deal was announced, RIVN stock has gained 60%, outpacing just about every other stock in the market.



Despite the increase in recent weeks, Rivian stock is still trading down 15% on the year and is 38% below its 52-week high. This means there is still an opportunity to take a position in the company&rsquo;s stock as it marches upwards. Prior to news of the <a href="https://abcnews.go.com/Business/volkswagen-rivian-partnership/story?id=111435119">Volkswagen cash infusion</a>, RIVN stock had been badly beaten down on concerns about its cash burn and growing losses. The EV maker reported a net loss of $1.45 billion in this year&rsquo;s first quarter. All that seems like ancient history now thanks to VW riding to the rescue.



On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly orindirectly) any positions in the securities mentioned in this article.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-ev-stocks-that-could-grow-your-wealth/">3 EV Stocks That Could Grow Your Wealth</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 EV Stocks That Could Grow Your Wealth

Electric vehicle stocks are jolted by heightened China trade war anxiety

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A range of U.S.-listed Chinese stocks are seeing significant downside today, including electric vehicle (EV) maker Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>). Indeed, Nio is garnering plenty of attention as one of the top decliners in today&rsquo;s market, with NIO stock sinking about 6% this afternoon.



This move appears to be a direct result of messaging from President Joe Biden&rsquo;s administration around <a href="https://www.bloomberg.com/news/articles/2024-07-17/us-considers-tougher-trade-rules-against-companies-in-chip-crackdown-on-china">increased tariffs</a> that could be coming for China-made products, with the EV sector of increasing importance in particular. Given increased bets that a second Trump presidency could be on the horizon, importance is also now being placed on the former president&rsquo;s comments, which have been very bearish for foreign automakers as a whole lately.



Notably, Trump has reportedly <a href="https://www.reuters.com/markets/us/chip-stocks-tumble-fears-tighter-us-curbs-sales-china-2024-07-17/">discussed plans</a> to force Taiwan to pay for its U.S. defense spending and curb China&rsquo;s ability to receive U.S.-designed chips. China is quickly looking to develop its own chips internally, although the country does appear to be a few years away from being able to do so.



For U.S.-listed Chinese stocks, headwinds we&rsquo;ve seen in the past are popping up again. Let&rsquo;s dive into what to make of this recent price action specifically when it comes to Nio. 



<h2>NIO Stock Sinks on Growing Headwinds</h2>



Interestingly, today&rsquo;s decline in Nio and other Chinese stocks is reminiscent of much of the selling pressure on Wall Street overall, as a broad rotation out of <a href="https://investorplace.com/industries/technology/">tech stocks</a> is underway. There are many reasons for this, from valuation to diversification and a broadening out of investor interest. But suffice it to say, headwinds are forming for companies like Nio, particularly on the political front where uncertainty remains high. 



If former President Donald Trump is elected president once again, expectations are that the <a href="https://www.cnbctv18.com/world/donald-trump-running-mate-jd-vance-is-a-renewable-energy-climate-change-critic-19443741.htm">Trump-Vance duo </a>could focus on driving growth in the fossil fuel industry. Whether that&rsquo;s removing tax incentives for EVs or finding other ways to promote the oil and gas industry, investors in the EV sector are right to grow wary of putting fresh capital to work in this market with these potential headwinds looming.



For Nio specifically, already high tariffs have effectively removed the company from competition in many global markets. China and a number of southeast Asian markets are the key focus for the company, which has been quite successful in growing its market share in these regions. The question will be whether weakening GDP growth in many markets in Asia bodes well for the medium-term outlook for Nio. On that note, the jury remains out.



Today&rsquo;s price action could simply be a blip and a recovery rally is certainly possible. But right now, it does appear that many in the market are taking a more cautious approach to Nio and its peers.



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
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	The post <a href="https://investorplace.com/2024/07/nio-stock-is-down-6-today-whats-going-on/">Nio Stock Is Down 6% Today. What's Going On?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Nio Stock Is Down 6% Today. What's Going On?

U.S.-listed Chinese stocks drop as trade worries, Trump warning to Taiwan stokes selloff

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
One of the most well-known Chinese EV makers in the market, Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) stock is a name I&rsquo;ve been bullish on in the past. Indeed, we&rsquo;re all aware that the EV market is going to grow, and China has led the way. One might think that this pure-play BEV maker based out of China should benefit from strong demographic growth trends.



However, Nio has faced some hurdles over the past year because of the company&rsquo;s exposure to the high end of the market. In Q2 2024, NIO reported 57,373 vehicles delivered, with a cumulative 537,020 units delivered. 



However, with new EU tariffs and high valuation risks, this may negatively affect NIO stock, which has already dropped 50% year-to-date.



The company continues to struggle with fierce competition from Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) and BYD (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byddf-stock-quote/">BYDDF</a>). This has led to Nio capturing less than 2% of the Chinese market. Additionally, demand for EVs weakened, and Nio&rsquo;s battery-swapping model appears to have proved costly and unlikely to gain global traction. 



With rising losses and declining vehicle deliveries, investors may have better alternatives out there right now.



<h2>Deliveries Are Still Down</h2>



In early June, NIO announced May deliveries of 20,544 vehicles, marking a 233.8% year-over-year increase. This included 12,164 premium electric SUVs and 8,380 sedans, bringing the company&rsquo;s total cumulative deliveries to 515,811. 



NIO&rsquo;s SUVs, such as the ES6, ES7, and ES8 models, continue to remain more popular than its sedans.



Despite strong delivery numbers, NIO faces stiff competition from larger Chinese market players like BYD, Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>), and Tesla, each of whom hold more significant market share. 



Xiaomi&rsquo;s entry with its SU7 sedan, delivering 7,000 vehicles in April and increasing to 8,630 in May, poses a challenge to NIO, potentially closing the gap as Xiaomi ramps up production.



<h2>Roadblocks From the EU</h2>



NIO stock declined over 60% in 2023, trading well below its initial IPO price. This has been led by declining deliveries and shrinking margins, as various supply chain issues have unfolded. However, there are more pertinent recent headwinds for the Chinese EV maker. 



Nio&rsquo;s unique swappable batteries and European expansion face <a href="https://ip-quarterly.com/en/solution-eus-chinese-greenfield-investments-conundrum">a setback with new tariffs in the EU</a> ranging from 17.4% to 37.6%, including a 20.8% tariff for Nio. This tariff is added to the existing 10% import duty. 



Nio plans to maintain current European prices but might raise them later because of these tariffs.



Nio could avoid tariffs by manufacturing in Europe, but higher production costs would likely negate the benefits. Currently, Li aims to strengthen European partnerships and scale operations for viable production. 



Now, Europe remains a small market for Nio, with just 100 deliveries in 2021 and 1,296 in 2022, compared to 91,429 and 122,486 globally. That said, for a company that&rsquo;s valued based on its growth prospects, this is certainly a headwind investors are going to price in here.



Nio&rsquo;s stock might become a value play if it overcomes challenges in China and scales in Europe. Speculators may consider buying now, but stock pressure may persist until vehicle margins improve, losses narrow, and European expansion proves sustainable. Valuation could remain low due to trade and geopolitical tensions.



<h2>Steer Clear of NIO Stock</h2>



Nio has faced ongoing trade frictions with the U.S. and Europe, yet it doubled down on its growth prospects, projecting Q2 2024 deliveries of 54,000 to 56,000 units, marking a 129.6% to 138.1% increase year-over-year. Despite international challenges, Nio expects revenue growth accelerating from 89.1% to 95.3%, reaching $2.373 billion over the next year.



I&rsquo;m not so sure the company will hit these targets. Nio faces challenges in meeting ambitious goals amid tough conditions for Chinese EV makers. Its heavy focus on Onvo models raised concerns about differentiation. 



As a result, NIO stock is one I think is worth waiting on, for investors who believe the Chinese EV sector will eventually turn the corner. I just think it&rsquo;s going to be possible to pick up NIO stock at better levels moving forward.



On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) and positions in the securities mentioned in this article.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
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	The post <a href="https://investorplace.com/2024/07/steer-clear-of-nio-stock-as-it-battles-eu-tariffs-and-stiff-competition/">Steer Clear of Nio Stock as It Battles EU Tariffs and Stiff Competition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Steer Clear of Nio Stock as It Battles EU Tariffs and Stiff Competition

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In the ever-evolving electric vehicle (EV) market, selecting standout <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> can be challenging. Investors looking to capitalize on this dynamic sector are faced with a myriad of choices. Each promises varying degrees of innovation and market penetration.



The urgency to invest in EV stocks is underscored by several factors. Firstly, global efforts to mitigate climate change are accelerating. The shift from traditional combustion engines to electric alternatives is expanding the consumer base for EVs. Secondly, <a href="https://qmerit.com/blog/how-are-government-policies-shaping-ev-adoption-rates/">governments worldwide are bolstering</a> this pivot with favorable policies and substantial incentives. As a result, it is making EVs more accessible and financially attractive. Lastly, advancements in battery technology and infrastructure development are enhancing EV practicality and appeal. And this further stimulates consumer and investor interest.



In this context, focusing on a select few EV stocks that show unparalleled promise and strategic positioning in July 2024 isn&rsquo;t just an investment strategy. It&rsquo;s a necessity. Let&rsquo;s now look at three such EV stocks that stand out not only for their current achievements but also for their potential to dominate in the near term.



<h2>NIO (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/nio1600-9-300x169.png" alt="Retail display of NIO store at night. NIO is a Chinese electric car brand"><div>Source: Robert Way / Shutterstock.com</div></div>NIO (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) is a prominent EV player in China. The company&rsquo;s stock has experienced a significant decline, shedding about 45% of its value year-to-date (YTD). 



This downturn is primarily attributed to the slower growth in EV deliveries, which starkly contrasts with the explosive growth seen in previous years. However, NIO&rsquo;s management is actively addressing these issues. Strategic initiatives are aiming at both the premium and mass markets, which may signal a potential for recovery.



Also, NIO is expanding its product line. In response to market demand and competitive pressures, NIO has <a href="https://www.reuters.com/business/autos-transportation/nio-track-unveil-its-first-mass-market-car-may-executive-says-2024-05-06/">introduced</a> a new sub-brand. Targeting the mass market, it offers more affordable EV options. This tactical move is expected to broaden NIO&rsquo;s customer base and drive volume growth despite potential impacts on profit margins.



Moreover, the company is pushing forward with innovative <a href="https://www.cnbc.com/2024/04/05/chinas-nio-to-expand-battery-swap-services-to-gain-ev-infra-edge-.html">solutions like its battery-swapping technology</a>, which sets it apart from competitors. This technology offers a unique value proposition by significantly reducing EV charging time.



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/liauto1600-300x169.png" alt="Li Auto (Li Xiang) brand logo and electric car in store. A Chinese EV(electric vehicle) company"><div>Source: Robert Way / Shutterstock.com</div></div>Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) has been making headlines with its innovative approach and robust financial performance. With a unique focus on range-extended EVs (REEV), Li Auto is carving out a niche. It will offer substantial growth potential amid China&rsquo;s push for cleaner transportation options.



Moreover, Li Auto&rsquo;s planned initiatives and product offerings have translated into impressive financial results. In the latest quarterly earnings, the company reported a <a href="https://seekingalpha.com/article/4694567-li-auto-inc-li-q1-2024-earnings-call-transcript">31% year-over-year (YOY) revenue growth</a>, significantly outpacing the industry average growth rate for the Chinese EV market. The company delivered 80,400 vehicles in the quarter, marking a 52.9% YOY increase.



Also, Li Auto&rsquo;s product approach centers around its range-extended EVS, which combine a traditional internal combustion engine with electric propulsion. This technology addresses a significant barrier to EV adoption, which is range anxiety. By offering vehicles that can travel longer distances without the need for frequent recharging, Li Auto is appealing to a broader segment of consumers. This is particularly helpful in areas of limited charging infrastructure.



<h2>Rivian Automotive (RIVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/rivn1600-8-300x169.png" alt="The front of a Rivian (RIVN) storefront is seen lined up with Rivian R1T and R1S model trucks out in front."><div>Source: Michael Berlfein / Shutterstock.com</div></div>Rivian Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) has emerged as a strong contender in the EV market.



In late June 2024, the company announced a significant novel development. Their joint venture with Volkswagen marks a pivotal moment for the American EV maker. <a href="https://www.caranddriver.com/news/a61421276/volkswagen-rivian-investment-development/">Volkswagen will invest</a> a substantial $5 billion into this partnership, aiming to co-develop next-generation EV technologies and architectures. This deal is not just a financial boost but also a strategic alignment to counter the dominance of established market leaders in the EV market.



Market analysts are optimistic about Rivian Automotive&rsquo;s future, particularly in light of this partnership. The company&rsquo;s stock has reacted positively to this news, reflecting investor confidence in RIVN&rsquo;s enhanced financial health and strategic direction.



Moreover, the company remains focused on delivering high-quality, innovative EV products tailored to consumer needs. The company&rsquo;s <a href="https://rivian.com/newsroom/article/rivian-announces-mid-sized-platform">recent launches</a>, such as the advanced R2 model, have been well-received, indicating strong market demand and acceptance. Rivian Automotive&rsquo;s management is keen on maintaining this momentum. It plans to further penetrate key markets and possibly expand into new regions, leveraging Volkswagen&rsquo;s global presence.



On the date of publication, Mohammed Saqib did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Mohammed Saqib is a research analyst with experience in equity research and financial modeling. He has extensively covered stocks listed in the tech sector using fundamental analysis as the cornerstone of his approach. Currently pursuing a master&rsquo;s degree in finance, Saqib is dedicated to obtaining the CFA charter to augment his expertise in the field further.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/if-you-can-only-buy-one-ev-stock-in-july-it-better-be-one-of-these-3-names/">If You Can Only Buy One EV Stock in July, It Better Be One of These 3 Names</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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