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This nostalgic symbol could vanish from Hong Kong forever

This nostalgic symbol could vanish from Hong Kong forever

CNN10 hours ago

Hong Kong's government announced the shift away from the city's iconic red taxis toward multicolored electric and hybrid vehicles. Toronto native Alan Wu has refurbished one to keep the nostalgia alive for himself and others among the city's diaspora.

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Nio (NIO) Could Climb 33% as Goldman Sachs Lifts Rating and Price Target
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Goldman Sachs upgraded Chinese electric vehicle maker Nio (NIO, Financials) to Neutral from Sell and raised its 12-month price target to $3.80 from $3.70, citing recent cost-cutting measures and a decline in share price. The updated target implies a potential upside of about 9% from current levels. Warning! GuruFocus has detected 3 Warning Signs with NIO. Goldman Sachs analyst Tina Hou noted that Nio's efforts to reduce operating expenses by 20%25%including project cancellations, staff reductions, and streamlined operationscould support margin improvement of 4%10% over the next three years. Nio has faced challenges, including widening losses, a 21% year-to-date share price drop, and heightened competition from Tesla (TSLA, Financials) and BYD. Despite the upgrade, Goldman Sachs remains cautious. It cited weak demand, a high debt load, and reduced delivery expectations as ongoing risks. Nio's cash and investments declined from $5.7 billion to $3.6 billion in Q1 2025, underscoring balance sheet concerns. Wall Street maintains a Hold consensus on Nio stock, with two Buy, seven Hold, and one Sell ratings over the past three months. The average analyst price target is $4.58, suggesting a 33% upside. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Mazda's Rotary-Engine RX-7 Successor Almost Ready, But Next Miata's a Few Years Away
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At Mazda, the desire for a Mazda RX-7 successor is there. The Iconic SP concept is the blueprint, too, and a next-generation rotary engine is almost technically complete. The business case for the revived RX-7 sports car just needs to fall into place, a final factor made even more challenging in today's tariff-striven global economy. Mazda plans a successor to the RX-7, based on the Iconic SP sports car concept, featuring a range-extender hybrid with a rotary engine. It's larger than the Miata, which will continue with internal combustion engines. Both cars aim to preserve Mazda's sports car spirit. This summary was generated by AI using content from this MotorTrend article Read Next The Mazda Iconic SP sports car concept was first shown at the 2023 Japan Mobility Show. The two-seater in Viola Red with 2+2 interior space was promised as a production car, similar in design, in the next few years. Masashi Nakayama, general manager of Mazda's Design Division, calls the Iconic SP a pure sports car with its long nose and Coke-bottle shape with wide haunches. It is not a replacement for the Mazda MX-5. It is larger than the Miata. 'You can expect Iconic SP will be a good successor for RX-7,' Mazda Chief Technical Officer Ryuichi Umeshita tells MotorTrend . Different Sports Cars, Different Powertrains While the Miata will continue to use an internal combustion engine, the Iconic SP was shown as having a range-extender hybrid with an electric motor and a dual-rotor rotary engine acting as generator. Output would be about 365 horsepower. The engine is a more powerful and emissions-compliant version of the rotary engine that made its revival as a range extender in the 2023 Mazda MX-30. The MX-30 was not offered in the U.S. because its rotary engine did not meet emissions regulations. But the new, more powerful rotary engine in development will, Umeshita says. 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