Is Nio A Buy?
๐๐$NIO Inc.(NIO)$
share price has jumped an impressive 44% in the past month and up 52% year to date. However today it fell 4% at close of trading. Is Nio A Buy?
Let's Do A Dive into the fascinating world of Nio.
There are several catalysts for Nio. On 27 June 2023, Nio, through its Energy business unit, signed a strategic partnership with China's 3rd largest oil company, CNOOC which is aimed at building charging and Battery swap infrastructure. CNOOC said that it will provide Nio with reliable sites, technology and service support to fuel the rapid growth of its charging and Battery swap network.
The Chinese authorities has unveiled a 520 billion yuan (USD 72.3 billion) package of tax breaks over 4 years for EVs and other green cars. New EVs purchased in 2024 and 2025 will be exempted from purchase tax amounting to as much as 30,000 yuan (USD4170) per vehicle. The exemption will be halved and capped at 15,000 yuan for purchases made in 2026 and 2027. This will spur greater purchases of EVs in China.
Nio has delivered a record 20,462 EVs in July, the new ES6 exceeding 10, 000 units. That 's up 103% from 10, 052 EVs in the same month last year and up a whopping 91% from 10,707 EVs in June.
Morgan Stanley said that a solid order backlog and improving production ramp is great news for Nio' s ongoing operational recovery and rising sales.
Nio's CEO William Li has announced that Nio will start production of its new smartphone in Q3 this year after being granted licence by the Chinese Government to access Internet in China.
All these new developments are great news for Nio's investors.
Is Nio a Buy? I would say Yes! It's time for Nio to shine. However patience and time in the market are required when investing in Nio as it is subject to much volatility in the short term. In the long term, Nio is a powerhouse to be reckoned with. Even though there are many competitors in the EV markets, Nio 's strength is its unique battery swapping technology and niche in the premium market. Chi a is after all the world's biggest EV market.
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