Nio share price upgrade#
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Consumers in China seem to have accepted the notion of renting and swapping batteries, which provides a steady source of income to Nio. The company recently announced that it completed its 4 millionth battery swap within China. While some analysts have scoffed at the Battery as a Service model, it has proved popular and lucrative for Nio.

ItвЂ™s a similar function to the way that empty propane tanks are swapped for full ones or refilled at places such as Costco ( NASDAQ: COST). Nio is also a unique player in the electric vehicle space as it runs a proprietary вЂњBattery as a ServiceвЂќ operation whereby owners of its cars lease and swap batteries at power-swap stations around China. With Nio pushing into the European market, sales of the new E7 could really takeoff and help Nio to become a global player in the electric vehicle market.

Goldman Sachs forecast that the ET7 could reach similar levels to those of the BMW 7 series and Mercedes S-class, which each sell more than 10,000 units per month in China alone. In its analysis, Goldman Sachs compared the ET7 to other premium sedans made by BMW ( ETR: BMW) and Daimler ( ETR: DAI).

Plus, Nio has just expanded into Norway, its first foray outside of China, and has announced plans to begin sales in Germany next year.ДЄnother reason why Goldman Sachs and others are high on NIO stock right now is the fact that the company is about to deliver a new luxury sedan in early 2022 called the вЂњ ET7вЂќ that could help to supercharge its sales. For this yearвЂ™s third quarter, the company delivered a total of 24,439 vehicles, up 100.2% year-over-year.ДЄt the end of September, the total number of vehicles delivered by the company stood at 142,036. A Closer Look at NIO StockДЇor September, Nio reported that it delivered 10,628 vehicles during the month, marking a year-over-year increase of 125.7%.

The additional manufacturing capacity comes as Nio reports much better-than-expected deliveries and expands into Europe for the first time.

ThatвЂ™s an upgrade from the 240,000 electric cars that Nio originally estimated its new plant would produce annually. The new plant, which is being built in partnership with JAC Motor, will give Nio the capability to make up to 300,000 vehicles a year. The Goldman upgrade came after Nio announced that it had successfully completed a milestone in the construction of its new manufacturing plant in Hefei, China. NIO was ignited on news that investment bank Goldman Sachs (NYSE: GS) had upgraded the companyвЂ™s stock to a вЂњbuyвЂќ rating and forecast that they could rise more than 60% to $56 per share. Now might be a good time for investors to reconsider ChinaвЂ™s leading electric vehicle manufacturer and ride the current upsurge to profits. However, NioвЂ™s stock has been on a tear since the start of October and has risen 14% in the last 30 days.

Nio share price full#

Nio share price series#

Nio share price upgrade#