We’ve highlighted opportunity in Nio a few times.
On Nov. 4, we said it could hit $50. On Jan.4, we said it could hit $60. Now, as it trades at $64, we believe it could easily hit $70 a share, near-term.
For one, electric vehicle demand shows no signs of slowing with Joe Biden in office.
“There are now one million electric vehicles on the road in the United States. But a key barrier to further deployment of these greenhouse-gas reducing vehicles is the lack of charging stations and coordination across all levels of government. As President, Biden will work with our nation’s governors and mayors to support the deployment of more than 500,000 new public charging outlets by the end of 2030,” he said.
Plus, analysts estimate bigger demand – especially with countries around the world pushing new programs to encourage consumers to buy battery powered vehicles.
The stock is pushing even higher after Nio unveiled a new EV luxury sedan, and a longer-range battery. In fact, on Jan. 9, 2021, “NIO Day 2020 was held in Chengdu. NIO launched its first autonomous driving model, the NIO ET7, a smart electric flagship sedan. The ET7 has a pre-subsidy price from RMB 448,000 or RMB 378,000 with BaaS (Battery as a Service).”
Better, recent deliveries were explosive.
For December and 2020 full-year delivery results. NIO delivered 7,007 vehicles in December, increasing by 32.4% month-over-month, setting a new record for five consecutive months, and by 121% year-over-year. For the full year, NIO delivered 43,728 vehicles in 2020, representing a year-on-year increase of 112.6%.