NIO Stock Could be Headed to $60

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Nio Inc. (NIO) shows no signs of slowing.

Over the last few weeks, the stock ran from about $32.50 to $49.16, where it’s breaking out on news of its upcoming NIO Power Day on July 9.

It’s also running ahead of June 2021 sales numbers.

For May, the company delivered 6,711 vehicles in May 2021, 95.3% year-over-year growth. The deliveries consisted of 1,412 ES8s, the Company’s six-seater and seven-seater flagship premium smart electric SUV, 3,017 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,282 EC6s, the Company’s five-seater premium smart electric coupe SUV.

Plus, it’s running on accelerating global EV demand. 

Remember, countries all over the world have pledged to cut emissions.  The U.S. just pledged to reduce emissions by up to 52% over the next several years. Europe wants to cut CO2 emissions by up to 55% by 2030. China says it’ll stop releasing CO2 in the next 40 years.

To help, says the International Energy Agency (IEA), we have to stop using gas-powered vehicles in the next 14 years, abandoning coal mines, and ending oil exploration.

In addition, a new report by Cairn Energy Research Advisors predicts a surge in electric vehicle sales in 2021 as countries around the world push new programs to encourage consumers to buy battery powered vehicles.  Cairn estimates global sales of EVs in 2021 will jump 36% and top 3 million vehicles for the first time ever.

General Motors Company just announced it will boost global spending on EVs to 435 billion through 2025. The automaker will build two additional battery plants in the U.S. That news comes just weeks after Ford Motor announced plans to spend $30 billion on electric vehicles.

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