From Investing.com:



The article covers three major events in the electric vehicle space this week. Firstly, China’s Nio Inc. announced a $2.2 billion investment deal with CYVN Holdings, which is expected to improve the company’s financial stability until 2025. Second, Mullen Automotive Inc. executed a 1-for-100 reverse stock split to maintain compliance with Nasdaq’s minimum bid price requirement, with the possibility of facing delisting from the Nasdaq exchange. Lastly, the U.S. government is considering increasing tariffs on Chinese goods, including electric vehicles, in early 2024, as part of a review of tariffs imposed by the Trump administration. The potential tariff increase is being considered as part of a broader review that includes evaluating reducing tariffs on specific Chinese consumer goods. These events had varying impacts on the stock prices of NIO and Mullen, with NIO ending the week up 0.94% and Mullen ending down 29.46%. This article emphasizes the importance of real-time news and highlights the benefits of subscribing to InvestingPro for real-time financial news updates.



Original: This week in EVs: Nio’s big deal