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NIO, the Chinese version of Tesla soaring to new heights

On Monday, the Chinese electric automaker NIO Inc – ADR (NYSE: NIO) shares rose 8% higher and hit new all-time-high following the company launched mass production of new electric car on Saturday. NIO also announced a collaboration with Nvidia Corp, the latest electric vehicle ET7 will use NVIDIA Drive Orin SoC for AI-assisted driving.

NIO, the Chinese version of Tesla soaring to new heights

On Monday, the Chinese electric automaker NIO Inc – ADR (NYSE: NIO) shares rose 8% higher and hit new all-time-high following the company launched mass production of new electric car on Saturday. NIO has unveiled its latest electric sedan model, and the car could go as far as 1,000km on a single charge, using a 150-kWh battery.

NIO also announced a collaboration with Nvidia Corp, the latest electric vehicle ET7 will use NVIDIA Drive Orin SoC for AI-assisted driving. “The collaboration between NIO and NVIDIA will accelerate the development of autonomous driving on intelligent vehicles” William Li, NIO CEO said.

The new electric car can accelerate from zero to 100 kmph in just 3.9 seconds and features a 150-kW battery for 600 miles of battery range. The ET7 integrates an advanced sensor package — with 11 cameras and lidar sensors. The new model is now available for pre-order on the NIO app, and the deliveries are estimated to start in Q1 2022.

HASH

The NIO stock rallied more than 1,700% in 2020. On Tuesday, the stock closed slightly lower on Tuesday after the company's plans to sell $1.3 billion of convertible senior notes. “The company plans to use the net proceeds from the notes offering mainly for general corporate purposes and to further strengthen its cash and balance sheet positions,” Nio said.

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Nike Q4 earnings and revenue beat estimates

Nike Q4 earnings and revenue beat estimates

The sneaker giant Nike (NYSE: NKE) delivered better-than-expected financial results for the fourth quarter on Monday after market close. “Nike’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers," Nike CEO, John Donahoe said.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Major stock markets around the world started the week on a positive note. However, many market participants continue to digest the shift of focus away from inflation and back to the economic slowdown. However, this will be an exciting week as the European Central Bank will host a forum in Portugal.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global stocks and commodities tumbled last week after the major central banks including the US Federal Reserve and Swiss National Bank have turned extremely hawkish. This week inventors anxiously awaiting the FED chair Powell's Testimony.