Electric vehicle stocks, like Nio aren’t slowing down.
In fact, a year from now, we wouldn’t be shocked to see it at $100 a share.
For one, analysts still love it. Analysts at Bank of America and at Deutsche Bank for example raised their price target on NIO to $70. JP Morgan lifted its target to $75.
Two, 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 company also just unveiled its new luxury sedan, and a longer-range battery.
“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).”
Even better, month over month deliveries are only accelerating.
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%.
With NIO, we may be looking at the next Tesla-like run.