NIO (NYSE: NIO) Shares Tag Another All-Time High as the CEO Hints at a 900-Kilometer Range Battery and the Company Reports Record-Shattering Deliveries for October 2022

NIO (NYSE: NIO) Shares Tag Another All-Time High as the CEO Hints at a 900-Kilometer Range Bombardment and the Company Reports Record-Shattering Deliveries for October 2020

NIO (NYSE:NIO) has, for all intents and purposes, now transformed into a unidirectional stock play as its shares keep traversing an upwards trajectory. As an illustration, the stock is up over 10 pct in today'south pre-market place trading session, forming a new all-time high in the process. The stock has now registered year-to-date gains of over 700 per centum

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Last week, NIO experienced a like surge on the back of a stock price target upgrade past Morgan Stanley (NYSE:MS). To wit, the Wall Street behemoth had chosen NIO "a strong EV leader in the making" in its most contempo investment note, raising the stock price target to $33 from the original peg at $20.fifty. Morgan Stanley analyst, Tim Hsiao, based this upgrade on improve-than-expected Q3 deliveries, margin upside potential, and an "update of our assumptions behind NIO's vehicle and long-term accept rate of NOP".

A host of factors seem to be contributing to today'due south surge in the EV manufacturer'due south shares. First, on the 30th of Oct, NIO's CEO LI Bin revealed that the visitor was working on a 150-kWh battery, extending the electric current range of the ES6 from 430km to over 900km. Mr. Bin made these comments while addressing the EP Society – NIO's top user lodge. Should this materialize, NIO'due south EVs would essentially attain parity with the combustion engine and hybrid vehicles. Further details are probable to be revealed at the upcoming NIO Day consequence, scheduled for the 9th of January 2021.

Moreover, every bit we reported before today, NIO revealed record-shattering deliveries for the calendar month of Oct. Equally per the company'south press statement, NIO delivered 5,055 EVs last month, including 2,695 units of the ES6 model, ane,477 units of the ES8 model, and 883 units of the EC6 model. This cumulative Oct 2020 delivery number marks an increase of 100.one percent relative to the comparable month last year. Yr to date, the company has at present delivered 31,430 vehicles.

Bear in mind that NIO has been swiftly ramping upward its product capacity. Earlier in Oct, the company'southward CEO, Li Bin, revealed in an interview with a Chinese TV aqueduct that the EV manufacturer was leveraging its ongoing partnership with JAC Motors to increment its product chapters to 150,000 units in 2021. In a crucial insight, the CEO likewise indicated that the company'due south production capacity would double to 300,000 units per annum, respective to a monthly production chapters of 25,000 units, by the end of 2021.

Source: https://wccftech.com/nio-shares-tag-another-all-time-high-as-the-ceo-hints-at-a-900-kilometer-range-battery-and-the-company-reports-record-shattering-deliveries-for-october-2020/

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