NIO experienced an 11% stock increase after the announcement of its Onvo L90 SUV, representing its push into the mass-market EV segment. The Onvo L90 targets competition with Tesla's Model Y. Meanwhile, Toyota's stock rose by 13% in premarket trading after a U.S.-Japan trade deal reduced tariffs. Despite NIO's growth ambitions and significant delivery increases, challenges such as competition and unprofitability persist. Toyota's diversified portfolio remains strong but faces slower EV adoption and challenges in the U.S. market.
NIO surged nearly 11% after unveiling its Onvo L90, a three-row electric SUV designed to compete with Tesla's Model Y, signaling its push into the mass-market EV segment.
Toyota is climbing almost 13% in premarket trading following President Trump's announcement of a major U.S.-Japan trade deal imposing just 15% tariffs on imported goods.
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