Nio Shares Jump on Launch of Budget-Friendly ES8 SUV
This article first appeared on GuruFocus. Nio (NIO, Financials) surged Thursday after unveiling one of its most affordable electric SUVs, part of its strategy to stay competitive in China’s crowded EV market. The new ES8, announced late Thursday, is priced at 308,800 yuan ($43,000) under a battery subscription plan, allowing users to swap or upgrade…