What's Going On With Chinese EV Manufacturer NIO Stock On Wednesday?
NIO Inc. (NYSE:NIO) saw its shares gain ground on Wednesday as optimism rose over a potential easing of trade tensions between the United States and China.
During a closed-door event hosted by JPMorgan Chase & Co. in Washington, U.S. Treasury Secretary Scott Bessent hinted at the possibility of a thaw in the current tariff standoff on Tuesday, which has cast a shadow over cross-border commerce.
Meanwhile, Nio's sub-brand Onvo made headlines at the 2025 Shanghai Auto Show by revealing its new flagship SUV, the L90.
Designed with space efficiency and family use in mind, the vehicle will hit the Chinese market later this year, CNeV Post reports.
Onvo's L90 boasts generous dimensions — stretching over 5.1 meters long — and includes a wheelbase exceeding 3.1 meters.
The vehicle accommodates six passengers while still offering a trunk capacity for seven standard 20-inch suitcases. Additionally, the front trunk (frunk) features 240 liters of space, enough to stow away two large suitcases and a compact one, which Onvo says is currently unmatched in China.
Eric Yu, head of product at Onvo, underscored the L90's storage credentials, citing its market-leading frunk volume among SUVs available domestically, CnEV Post adds.
Meanwhile, William Li, Nio's founder and CEO, used the event to provide a detailed roadmap of the company's product pipeline for the year.
He confirmed that the revamped third-generation ES8 would debut in Q4, along with the unveiling of Onvo's next release — the L80 SUV, CnEV Post reports.
Nio plans to maintain a steady stream of product launches throughout 2025, ultimately reaching a total of nine models. These include the recently released ET9 luxury sedan and the compact Firefly, as well as updated versions of its ET5, ET5 Touring, ES6, and EC6 lines.
Price Action: NIO shares closed higher by 4.80% to $3.93 on Wednesday.
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