New Trump Bombshell

The Freeport Society and Louis Navellier have just issued a shocking election prediction for 2024. I believe Donald J. Trump will go down as America's last Republican president. But NOT for the reasons you may think...

NIO Plans Organizational Changes At Onvo Sub-brand: What's Going On?

Nabaparna Bhattacharya
June 04, 2024

NIO Inc. (NYSE:NIO) shares are trading lower in the premarket session on Tuesday.

The Chinese electric vehicle manufacturer unveiled its most recent organizational reshuffle, which encompasses its various businesses, including the sub-brand Onvo, CnEV Post reported.

The company stated that this move is essential for its business and organizational advancement, the report read, citing an internal letter.

The electric vehicle (EV) manufacturer has rebranded several units formerly identified as “Strategic New Businesses”:

  • Strategic New Business I is now referred to as the Onvo division (OV).
  • Strategic New Business II has been relabeled as the Chip Development unit (CD).
  • Strategic New Business III has undergone a name change to become the Firefly business unit (FY).
  • Strategic New Business IV has been transformed into the Nio Phone business (NP).

Recently, NIO reported selling an impressive 20,544 EVs in May. This includes 12,164 premium smart electric SUVs and 8,380 premium smart electric sedans. The May number marked a record total for the Shanghai-based company.

Apart from the alterations in nomenclature, Nio’s strategic new business cluster maintains its existing department heads and reporting structure.

The Onvo business unit has established 16 regional companies designated as second-tier departments. These entities are tasked with advancing the Onvo brand, arranging channel distributions, overseeing daily store operations, and attaining regional sales targets, the report added.

All general managers of Onvo’s regional companies directly report to Xia Qinghua, Nio’s Assistant Vice President and the Head of Onvo Sales and Service, CnEV Post added.

The modifications were initially disclosed by the local media outlet China Star Market.

Nio officially introduced its sub-brand, Onvo (known as Ledao in China), on May 15, commencing pre-sales of its inaugural model, the L60, priced at RMB219,900. This price positions it RMB30,000 below the Tesla, Inc. (NASDAQ:TSLA) Model Y, CnEV Post added.

Price Action: NIO shares are trading lower by 0.37% to $5.32 premarket at last check Tuesday.

Read Next: Julia Roberts And George Clooney Back Joe Biden In Presidential Race, Yet Hollywood Has Largely Hesitated On Endorsing A Candidate — Here’s Why

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

Continue Reading...

Popular

OpenAI whistleblowers ask SEC to investigate the company's non-disclosure agreements with employees

NEW YORK (AP) — OpenAI whistleblowers have filed a complaint with the Securities and Exchange Commission and asked the agency to investigate whether the ChatGPT maker illegally restricted workers from speaking out about the risks of its artificial intelligence technology.

Renowned Fitness Guru Richard Simmons Dies At 76

The fitness industry is mourning the loss of one of its most iconic figures, Richard Simmons, who passed away at the age of 76, ABC News reported on Saturday.  What Happened

Man Who Predicted Trump 2016 Win: "Prepare for Election Meltdown" - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

Trump's Family Reacts To Attempted Assassination: 'Toughest Man I've Ever Met'

Following the attempted assassination of former President Donald Trump on Saturday, his family shared heartfelt messages.

Top 3 Industrials Stocks That Are Ticking Portfolio Bombs

Three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

U.S. Loses to China in Shocking WAR GAMES - Ad

Pentagon says new "living missile" key to winning a future conflict. Investors stand to reap 35,960% on shares of the small defense contractor that makes powerful new weapon.

Wall Street's Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 6% Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.

Microsoft, Amazon Or Palantir: Reddit Users Debate How To Invest $4,900

Reddit users debate best stock picks for $4.9K investment. Microsoft and Amazon seen as strong choices, while Palantir's potential sparks debate.

This Is Where the World's Richest Men Are Putting Their Money - Ad

Bill Gates, Peter Thiel, Mark Zuckerberg -- they're pouring millions into something we call Imperium technology. And you can invest in this tech alongside them starting with just $10. Bill Gates called Imperium "one of the most powerful technologies of the 21st century."

Elon Musk Says 'Lying On This Platform Doesn't Work Anymore' After Biden VP Kamala Harris Gets Community Noted On X After Posting About Trump

Elon Musk challenged Vice President Kamala Harris's claim about former President Trump's stance on a national abortion ban after her post on X was flagged by the Community Notes feature, asserting that Trump's position has been misrepresented.

July 22nd - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on June 24th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Joe Biden Shares His Performance Enhancer Drink Ahead Of 2024 US Presidential Debate: 'I Don't Know What They've Got In These'

Ahead of the debate, Biden took to X, sharing a humorous post about his "performance enhancer" drink, DARK BRANDON'S SECRET SAUCE, and joked, "I don't know what they've got in these performance enhancers, but I'm feeling pretty jacked up. Try it yourselves, folks.

This Could Be Like Buying Crypto In 2020 - Ad

Wall Street veteran Ian King says, "this could be like buying crypto in 2020." Now Ian's pounding the table on a new opportunity that's on the cusp of mainstream adoption just like crypto in 2020. And he's recommending you buy 3 little-known stocks ahead of an official announcement from the U.S. government.

The Election Shock Nobody Expected... (But You'll See It Coming) - Ad

It comes down to just 9 words...Nine simple words which when spoken, will determine the outcome of the 2024 election...These words have nothing to do with Trump, the economy, or what's happening in Ukraine, China or Israel. This is the scandal that isn't being reported (yet.) But my political operatives tracked down this story.

'Rich Dad Poor Dad' Author Robert Kiyosaki Agrees With Raoul Pal's Bitcoin 'Banana Zone' Theory: 'He Knows What He's Talking About'

World-renowned author and financial educator, Robert Kiyosaki, recently expressed his support for macro guru Raoul Pal’s much-discussed “Banana Zone” theory, predicting a significant surge in Bitcoin’s (CRYPTO: BTC) value.

Boeing Faces Sanctions From NTSB Over Unauthorized Release Of 737 MAX Investigation Details

The NTSB's action further strains the relationship between Boeing and government agencies, amid the planemaker's efforts to avoid criminal charges from the U.S. Department of Justice (DOJ) before a July 7 deadline.

The Election Shock Nobody Expected... (But You'll See it Coming) - Ad

It comes down to just 9 words... Nine simple words which when spoken, will determine the outcome of the 2024 election... These words have nothing to do with Trump, the economy, or what's happening in Ukraine, China or Israel. This is the scandal that isn't being reported (yet.) But my political operatives tracked down this story.

US Allies Urge Biden To Step Down After Disastrous Debate Performance: 'Important To Manage One's Ride Into The Sunset'

The European allies of the United States are calling for President Joe Biden to step down following his widely criticized performance in the recent presidential debate.

Wall Street's Most Accurate Analysts Spotlight On 3 Financial Stocks Delivering High-Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.

Elon Did It Again: This Could be Bigger than Tesla - Ad

After revolutionizing online payment processing (PayPal), space exploration (SpaceX) and the auto industry (Tesla)... He's getting ready to do it again with his new A.I. venture. This could be bigger than Tesla, bigger than SpaceX, and bigger than Paypal.

e.l.f. Beauty Expands Roblox Partnership With Real-World Commerce Test

e.l.f. Beauty is testing real-world commerce on Roblox with support from Walmart. This initiative offers a limited-edition e.l.f. UP! Pets Hoodie.

What Is Nvidia's New $1 Trillion Superproject? - Ad

While most are still focused on Nvidia's recent performance, they're missing this massive, $1 trillion pivot Nvidia's making right now. But it's what's happening behind the scenes that should be most exciting for investors. We've identified three companies that Nvidia needs to lean on to help get the job done.

Ford's Jim Farley Embraces EVs, Exciting Rival Tesla CEO Elon Musk, But Report Says Nearly Half Of EV Owners In US Want To Switch Back To Gas

Ford CEO Jim Farley on Friday wrote an article on X, detailing his long-standing love for gas vehicles and a newfound love for EVs, and rival CEO Elon Musk is excited. The sentiment, however, is not shared by EV owners across the U.S.

Colorado's Youth Cannabis Use Hits Historic Lows, Survey Finds

Colorado's latest survey shows declining youth cannabis use alongside broader shifts in risky behaviors and mental health improvements.

The World's First Trillion Dollar Drug - Ad

By 2030, Wall Street experts predict it could generate more revenue than the top 10 best-selling drugs... combined. Early investors stand to reap tremendous rewards as its growth surges 75,000% by 2030. Former hedge fund manager Ian King predicts this could become the world's first trillion-dollar drug. And he's recommending 3 little-known stocks to play this fast-moving trend.

Heather Lovier Named COO Of Rocket Companies, Replacing Bill Emerson

Heather Lovier appointed COO of Rocket Companies, replacing Bill Emerson, amid focus on tech innovation and operational strategy.

New Home Sales Dip In May As High Mortgage Rates Keep Buyers 'On The Sidelines'

Sales of new single-family homes declined in May due to high mortgage rates. Median sales price was $417,400. Inventory low, demand strong.

Are Banks Already Using Your ESG Score Against You? - Ad

As we speak, the powers that be are building a full-scale social credit system ...And soon, it could be used to control the way you live your life. Legendary financial forecaster, Dr. Martin Weiss recorded an urgent message on how to prepare, including the three steps you should consider RIGHT NOW.

UBS Sells Stake In China Joint Venture To Comply with Local Regulations: Report

UBS selling partial stake in securities joint venture to BSAM in China, consolidating operations, CEO says it's optimal move for compliance.

The AI Presentation 'They' Don't Want You to See - Ad

Wall Street legend confesses, "I feel a sense of duty to share what I know with as many people as I can... that's why I made this free for all to view."

Billionaire Peter Thiel Voices Skepticism On Bitcoin's Future Growth: 'I'm Not Sure It's Going To Go Up That Dramatically'

Tech billionaire Peter Thiel has voiced doubts about Bitcoin’s (CRYPTO: BTC) capacity for significant price growth while also expressing regret for not purchasing more of the cryptocurrency.

Exposed: 3 Cent Crypto to Explode July 22nd? - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Arkansas sues 2 pharmacy benefit managers, accusing them of fueling opioid epidemic in state

LITTLE ROCK, Ark. (AP) — Arkansas on Monday sued two pharmacy benefit managers that oversee coverage for insurers, employers and other large clients, accusing them of fueling the opioid crisis in the state.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service