Nio Inc. (NIO) could be headed to $60, we noted on Monday.
At the time, the EV stock traded at just $47.60. Today, its’ up to $53.21 and exploding ahead of its NIO Power Day on July 9, and its June 2021 delivery 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.
We expect to see even better numbers for June.
However, it’s not the only EV stock that’s accelerating higher.
After running from $22.50 to $44.32, XPEV is consolidating at the moment. From here, we’d like to see a potential breakout with a test of $50. It should also be nearing June 2021 delivery results, as well after a blockbuster report for May 2021. For that month, it delivered 5,686 vehicles, which was a 483% increase year over year. Year to date deliveries are up 427%.
Another hot EV stock to consider is Li Auto (LI).
After running from $17.50 to $34.90, the stock is trying to break above prior resistance dating back to February. If it can break out here, LI could potentially test its previous high of $47.50.
The best part – the EV boom shows no signs of slowing down at all.
In fact, it’ll only accelerate, as countries around the world race to put millions of EVs on the roads after pledging to cut emissions.