China's Very Hot EV Maker Nio

 Nio, EV Maker Taking on Tesla 


Source:  Nio

                                                           


Hot Global Stock

Shanghai based electric vehicle maker Nio wants to take on Tesla and be the "Tesla killer".  It's share price on the NYSE has been soaring.  It's up 1000% since it cratered in March at $3.00.  It is now up to $26.50, Big Wall Street houses like Citi are calling it a buy.  They've put a target price of $33.20 on it because of it's "very strong order backlog", its efforts to cut battery costs and its growing market share.  Nio is back by two Chinese tech giants, Tencent and Baidu. The Nio EV car, shown above, is an example of Nio's fashionable, futuristic design in EVs.

Nio's Different Approach

Nio's business approach is innovative.  It has heavily focused on creating a brand, including selling Nio hats and merchandise on line. It offers battery-swapping, mobile power vans and "Nio Houses" which are Nio showrooms that can also be used as "Clubhouses".  Nio has upgraded its technology, including a smarter autopilot system.  And, it is currently valued at $36 billion.

EV Information Center  https://amazon.com/author/ekane

To take a look at journalist Edward Kane's latest book "The Elon Musk Factor", go to https://read.amazon.com/kp/embed?asin=B08KHCYGY9&preview=newtab&linkCode=kpe&ref_=cm_sw_r_kb_dp_SSDIFbX2K4NQ4   I co-authored the book with Ed.

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