Why NIO Stock Is Higher Today

Did NIO appropriate verify plans to enter the European market later this 300 and sixty five days?

What took remark

Shares of Chinese language electric-vehicle NIO (NYSE:NIO) had been shifting increased on Monday, after a describe that its CEO confirmed plans to enter the European market later this 300 and sixty five days. 

As of 10: 15 a.m. EST, NIO’s American depositary shares had been up about 7.7% from Friday’s closing price.

So what

NIO CEO William Bin Li stated that NIO plans to commence selling vehicles in Europe within the 2d half of 2021, per a describe from Chinese language media outlet Bitauto.com. The firm plans to enter other world markets subsequent 300 and sixty five days, per the describe.

That confirms a slightly dropped by Li in January, when he stated that the navigation plan in NIO’s ET7 point to vehicle gave a clue about the firm’s export plans. It is laborious to content, nevertheless reports comprise rapid that the plan shows a space in Oslo, Norway. 

The dashboard of the NIO ET7 show car, with a location visible on the touchscreen.

Does that ogle handle Oslo to you? Image source: NIO.

It acquired’t be ravishing if NIO begins its export push with Norway, because the nation has the very best rate of electric vehicle adoption within the arena. A miniature little bit of over half of recent vehicles equipped in Norway final 300 and sixty five days had been EVs, up from about 42% in 2019. 

NIO rival XPeng began sales of its electric G3 SUV in Norway in December.

Now what

Auto merchants acquired’t comprise to wait long for more particulars: NIO will describe its fourth-quarter and fleshy-300 and sixty five days 2020 earnings after the U.S. markets shut at the novel time. Wall Boulevard analysts polled by Thomson Reuters quiz NIO to remark a fourth-quarter lack of $0.07 per fragment on income of about $1 billion, on common. 

Jabber that NIO’s earnings call will initiate at 8 p.m. EST, or 9 a.m. (Tuesday) Beijing time. 

This article represents the conception of the author, who would possibly perchance perchance disagree with the “official” advice remark of a Motley Idiot top rate advisory carrier. We’re motley! Questioning an investing thesis — even one of our enjoy — helps us all mediate seriously about investing and manufacture selections that attend us change into smarter, happier, and richer.

John Rosevear has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.”>

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