EU to Force Car-Rental Firms to Buy EVs Only From 2030: Bild
Why the Federal Reserve's Building Renovation Costs $2.5 Billion
The Dutch Intersection Is Coming to Save Your Life
Milan Corruption Probe Casts Shadow Over Property Boom
Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint
How San Jose's Mayor Is Working to Build an AI Capital
Under the deliberations, companies like Sixt SE and Europcar Mobility Group SA would only be allowed to purchase electric vehicles from that date, the publication said, citing European Union sources it didn't identify.
The move would affect 60% of the new car business, if enacted, it cited one Brussels lawmaker as saying. The Commission plans to present the proposal, which would be a de facto acceleration of the EU's plan to phase out combustion engines, later in the summer before submitting it for parliamentary approval, the newspaper said.
The EU confirmed to Bild that work is underway on new regulations, while declining to provide details.
The EU currently plans to phase out combustion vehicle sales by 2035.
A Rebel Army Is Building a Rare-Earth Empire on China's Border
Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot
How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All
What the Tough Job Market for New College Grads Says About the Economy
Godzilla Conquered Japan. Now Its Owner Plots a Global Takeover
©2025 Bloomberg L.P.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Nio Just Launched a New SUV, and Wall Street's Paying Attention. Should You Buy the EV Stock Here?
Earlier this month, Morgan Stanley reaffirmed its 'Buy' rating on Nio (NIO), with the brokerage firm's $5.90 price target representing about a 30.5% premium to the stock's Monday close. The firm called the Onvo L90 launch a 'major catalyst,' with analyst Tim Hsiao writing, 'With all the pessimism in the price, we think the stock is like a call option" following strong pre-order momentum in Hong Kong. Morgan Stanley argues that the L90 offers 'aggressive specs' at a price point below ¥280,000, giving it an edge over both mid-range and premium rivals like the Li (LI) L9 or AITO M9. With standout features, a spacious interior, and the backing of Nio's expanding battery-swap and tech infrastructure, the L90 could be a game-changer if Onvo can overcome branding and execution hurdles. More News from Barchart It's Never 'Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate This Penny Stock Wants to Become the MicroStrategy of Dogecoin Robinhood Stock Stumbles as S&P 500 Inclusion Is Once Again Off the Table for HOOD Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. For now, Morgan Stanley's team sees the low price as a buffer that may help turn investor doubt into fresh demand. About NIO Stock Based in Shanghai, Nio (NIO) is a leading designer and manufacturer of smart electric vehicles (EVs). It offers a range of electric SUVs and sedans, including five and six-seater models, along with innovative power solutions like Power Home, Power Swap, and other charging services. With a market cap of $9.16 billion, NIO stumbled early in 2025, falling to a low of $3.02 by April. However, stronger deliveries and operational gains have fueled a 32.5% rebound over the past month. In terms of valuation, NIO is priced at an enterprise value/sales ratio of 1.21, which is a 9% discount to the sector median of 1.32. This suggests NIO is priced competitively within its sector. Onvo L90: A New Family SUV at an Aggressive Price The Onvo L90 is NIO's newly unveiled three-row electric SUV under its mass-market Onvo sub‑brand. It launched in July 2025 at a starting price of RMB 279,900, including an 85 kWh battery, or RMB 193,900 under its Battery‑as‑a‑Service plan. This aggressive pricing undercuts competitors such as the Li Auto L9 (RMB 409,800) and entry models like the Li L6 and XPeng (XPEV) G9. Despite its value positioning, the L90 boasts premium features: 900V fast charging, an AR head‑up display, adjustable air suspension, an integrated smart fridge, and Level 2+ autonomous aids powered by Nvidia's (NVDA) Orin‑X chip. Its spacious cabin rivals those of higher‑priced six‑seaters like the AITO M9 and BYD (BYDDY) Denza N9. NIO aimed to control costs by reusing existing platforms and drivetrains without sacrificing quality. Preorders hit 30,000–35,000 within days, and NIO is dispatching early units to dealers for market feedback. A five-seat L80 and 400 new sales outlets are slated for late 2025. Record Deliveries Clash with Persistent Losses at NIO NIO managed a strong delivery performance in June, handing over 24,925 vehicles, its second-highest monthly total on record. That pushed Q2 deliveries to 72,056 units, up about 26% year-over-year. For the first half of 2025, the company delivered 114,150 vehicles, a 31% jump compared to the same period last year. Financially, the EV company posted Q1 revenue of $1.66 billion, representing a 21% year-over-year increase, but just shy of analyst estimates near $1.73 billion. Vehicle sales remained the primary revenue driver. Despite this miss, margins improved, with vehicle gross margin rising to 10.2% from 9.2% a year ago. Management reiterated its goal of reaching 20% gross margin for the core NIO brand and 15% for Onvo by late 2025, with profitability expected in Q4. 'We continue to invest in multi-brand expansion and cost efficiencies, and Q2 guidance reflects momentum in deliveries,' said CEO William Li on the earnings call. While free cash flow declined, the company ended the quarter with around $3.5 billion in cash and equivalents, giving it solid financial flexibility heading into the second half of the year. With nine new models planned for 2025 and a target of reaching operating profitability by year-end, NIO appears to be positioning itself for a strong turnaround. What Does Wall Street Think About NIO Stock? Most Wall Street analysts are not as bullish as Morgan Stanley, with the broader consensus rating on the stock at 'Hold.' In fact, even Hsiao, ahead of his bullish endorsement, wrote: 'Although we strongly recognize Onvo L90's advantages in the crowded race, beating market expectations isn't without challenges considering Onvo's unsatisfactory track record of execution and inferior brand awareness, which require extra effort for Onvo to leverage L90 and upcoming L80 to overcome the deficit.' NIO shares are currently trading above the average price target of $4.37, implying little to no expected upside over the next year. However, the 16 analysts in coverage have a wide range of targets, ranging as high as $8.10 - a 79.2% premium from Monday's close - to as low as $3, in line with the April year-to-date bottom. On the date of publication, Nauman Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Mandelson's plea to Blair for a fresh chance
Peter Mandelson's desperation to get back into government after twice being forced to resign from Tony Blair's cabinet is revealed in newly-released official files. According to papers released by the National Archives in Kew, west London, Mr Mandelson (as he then was) even enlisted the help of former BBC director general Lord Birt in his campaign to secure another top job. His efforts were rewarded when Mr Blair appointed him to the plum post of Britain's commissioner on the European Commission in Brussels with responsibility for trade. Mr Mandelson was forced to quit as Northern Ireland secretary in January 2001 following claims he had helped the controversial Indian businessman Srichand Hinduja secure a UK passport in return for sponsoring the Millennium Dome. Although an official inquiry cleared him of any impropriety, Mr Blair was reluctant to bring his old friend back into the fold after he had already resigned once before in a scandal over an undeclared home loan from fellow Labour minister Geoffrey Robinson. In April 2003, however, Lord Birt – who was serving as a senior policy adviser in No 10 – wrote to the prime minister urging him to think again. 'I gather from Peter that you still talk to him regularly – but, as a safeguard, you may like to know what he reports to me about his current state of mind,' he wrote. 'He feels this spring/summer may be the moment of decision for him. He's approaching 50 – and he is sorely conscious that time is passing and he has yet to fulfil his promise. 'As you know, Peter's deepest wish is to return to government. He stresses that he has already proved to be a capable minister, and that he would be a strong ally for you in cabinet. 'If you judge a return to government is not possible, then he would like you to consider appointing him as EC Commissioner. 'One way or another, he says he wants to settle his future this year, even if it means a career outside politics.' Just four months later, it was announced that he was to be the UK's next European commissioner. He was subsequently awarded a life peerage in 2008 and is currently the British Ambassador to the United States.
Yahoo
2 hours ago
- Yahoo
ESA selects 5 rocket companies for European Launcher Challenge
When you buy through links on our articles, Future and its syndication partners may earn a commission. The European Space Agency (ESA) has taken a step toward diversifying its access to space. ESA has chosen five rocket companies to pass through to the next round of its competition to encourage and support the development of new launch vehicles. The agency announced on July 7 that it had selected German companies Isar Aerospace and Rocket Factory Augsburg (RFA), Maiaspace from France, Spain's PLD Space and Orbital Express Launch, or Orbex, which is based in the United Kingdom, to proceed to the next stage of its European Launcher Challenge. The European Launcher Challenge (ELC) is a new scheme to promote new small and medium-sized launch vehicles and boost competitiveness in Europe, which for decades has relied on large Ariane rockets. The challenge was announced in November 2023, followed by a request for information and a formal call for proposals in March 2025, leading to ESA announcing the preselected challengers. The ELC has two components. The first is for launch services to be performed for ESA from 2026 to 2030, while the second is for development and demonstration of larger, upgraded launchers. Each chosen company will be eligible for up to 169 million euros ($198 million US) in support to cover one or both of these components. The ESA member states will finalize funding decisions in November at the agency's crucial ministerial council, which will set funding for projects for the next three years. Both Isar Aerospace and RFA have made it to the pad already. Isar's Spectrum rocket had a first, short-lived flight in March from Norway, with the launcher exploding seconds in flight. RFA's RFA One rocket exploded on the pad in the Shetland Islands back in August 2024 during a static fire test. RELATED STORIES — European Space Agency: Facts & information — Spanish company PLD Space launches rocket for 1st time — Scottish rocket startup Skyrora fails on 1st space launch attempt PLD Space conducted a suborbital flight of its Miura 1 rocket in 2023, as a stepping stone toward launching the orbital Miura 5. Orbex, meanwhile, is working on its Prime microlauncher, while Maiaspace is developing its reusable Maia rocket. These are not the only European companies engaged in developing new rockets, with Skyrora (U.K.), Latitude (France) and HyImpulse (Germany) at various stages of developing their rocket concepts. Solve the daily Crossword
