On Nov. 4, 2020, we said NIO could hit $50.
This morning, it’s up to $53 and could now head to $60, near-term. The best part — Nio Inc. heads into the New Year with electric vehicle sales soaring.
This morning, the company said it delivered another 7,007 vehicles for December 2020, an increase of 32.4% month over month, and 121% year over year. For the full-year, the company managed to deliver 43,728 vehicles, a year over year increase of 112.6%.
“2020 has been a challenging year for the whole world. Against this backdrop, NIO has achieved consecutive record-highs along the way and closed the year on a high note with remarkable December deliveries of over 7,000 vehicles,” said William Bin Li, founder, chairman, and chief executive officer of NIO.
“These results are attributable to the growing recognition of our premium brand, the competitive and compelling products, and services, the expanding sales network, and most importantly, the continuous support from our passionate and loyal user community,” he added.
In addition, we have to consider that EV sales may only increase from here, and help drive NIO deliveries higher. It could easily push NIO to $60, near-term.