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Nio has delivered 36,721 electric vehicles since the calendar flipped in January 2020. Hereby representing a rise of approximately 111.1% year-over-year.Shares of Chinese electric vehicle company Nio Inc (NYSE: NIO) were down approximately 6.43% on Tuesday to trade around .53. At the time of writing, Nio stock is down 5.30%, trading at .86. The drop in Nio stock price is in contrast with the record-high sales reported for November. Whereby, Nio delivered 5,291 vehicles in November 2020, increasing by 109.3% year-over-year.Nio Sales“The deliveries consisted of 1,387 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 2,386 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 1,518 EC6s, the Company’s 5-seater premium electric coupe
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Nio has delivered 36,721 electric vehicles since the calendar flipped in January 2020. Hereby representing a rise of approximately 111.1% year-over-year.
Shares of Chinese electric vehicle company Nio Inc (NYSE: NIO) were down approximately 6.43% on Tuesday to trade around $50.53. At the time of writing, Nio stock is down 5.30%, trading at $47.86. The drop in Nio stock price is in contrast with the record-high sales reported for November. Whereby, Nio delivered 5,291 vehicles in November 2020, increasing by 109.3% year-over-year.
Nio Sales
“The deliveries consisted of 1,387 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 2,386 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 1,518 EC6s, the Company’s 5-seater premium electric coupe SUV,” Nio indicated in the press release.
Notably, Nio has delivered 36,721 electric vehicles since the calendar flipped in January 2020. Hereby representing a rise of approximately 111.1% year-over-year. Apparently, despite the increased competition in the electric vehicle industry, Nio has experienced a surge in demand for its vehicles. As result, the company has indicated that it is expanding its production capacity this month to meet the rising demand.
Nio and Tesla Stocks Market Performance
The company has a market valuation of approximately $73.56 billion with 1.08 billion outstanding shares. Although miles behind American electric vehicle company Tesla Inc (NASDAQ: TSLA) that has over $500 billion in valuation, Nio is capable of delivering quality electric vehicles that are competitive in the market.
Furthermore, Tesla is facing technical challenges with some of its models thus giving Nio a chance to climb higher in the hierarchy of demand.
According to the metrics provided by MarketWatch, Nio stock has rallied approximately 2,005.42% in the past one year, but more interestingly they have jumped 1156.97% year to date.
The volatility is almost twice that of Tesla in the respective timeframe. Whereby Tesla shares are up approximately 744.14% in the past one year and managed to climb around 578.41% year to date.
In the past three months, Nio stocks have added approximately 151.14% whereas Tesla stocks managed 19.48%. This is an indication Nio stocks have a higher demand in the market and investors are confident in its capabilities to deliver in the coming quarters.
On the Flipside
Nio has several models in the market including the ES8, ES6 and EC6. Being the company’s flagship products, they received a warm reception in different markets during the pandemic. “Cumulative deliveries of ES8, ES6 and EC6 as of November 30, 2020 reached 68,634,” the company noted in the press release.
The company has intensively invested in artificial intelligence to remain competitive in the market. Mid last month, Qiyan Wang, NIO’s VP of Engineering, Digital Systems said the company is committed to developing AI-focused vehicles.
“NOMI (the first in-vehicle artificial intelligence) … allows our users to interact with the vehicle, and … deliver joyful experiences to our users, which is NIO’s commitment,” Qiyan said.
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