Australia Probing Whether Nauru's $1 Billion China Deal Breaches Security Treaty
That pact, agreed to in December 2024, requires Nauru to seek Australia's consent before entering into any third-party security arrangement, including projects involving critical infrastructure such as telecommunications or banking.
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Australia's Zip soars on strong earnings, outlook, US listing plan
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I just spotted the PS5 Slim for its cheaper price, but you need to be fast to grab one
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NIO Stock Soars 10% as Newly Launched ES8 SUV Takes Aim at TSLA
Chinese EV maker Nio Inc. (NIO) has introduced its all-new ES8 SUV, a spacious three-row model now available for pre-order in China. Following the news, NIO stock jumped 10% on Thursday, as investors reacted positively to the company's latest push in the premium EV market. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Nio's ES8 SUV is seen as a direct response to Tesla's (TSLA) recently launched Model Y L in China. TSLA's vehicle saw a strong start, gaining attention for its spacious design and strong performance. Nio's ES8 Gets Bigger and More Affordable The ES8 is Nio's largest battery-electric SUV to date, available in six- and seven-seat versions. It features a 520-kW dual-motor system and advanced autonomous driving supported by three LiDAR sensors and a 4D imaging radar. Importantly, the price starts at about $58,000. This makes it about 25% cheaper than its predecessor and brings it closer in price to Tesla's Model Y. The pricing move is a key part of Nio's strategy to gain market share in the highly competitive Chinese EV market. To attract early orders, NIO has rolled out promotional incentives, including pre-order discounts and benefits for existing NIO owners who repurchase. NIO Rolls Out Back-to-Back New Models The ES8 launch follows Nio's July rollout of the ONVO L90, a mid-size SUV under its new family-focused brand. The L90 is priced under $37,000, and it targets everyday buyers looking for value and comfort. Just 10 days after launch, Nio delivered over 4,000 units, and it is expected to pass 10,000 deliveries in August. This strong demand is helping Nio bounce back in China's competitive EV market. Is Nio a Buy, Sell, or Hold? Overall, Wall Street has a Hold consensus rating on NIO stock, based on three Buys, seven Holds, and one Sell assigned in the last three months. The average NIO stock price target of $4.67 implies 15.55% downside risk from current levels.
