NIO: The Electric Vehicle Stock to Buy Before the Bull Market Returns

Rising interest rates and inflation concerns have had a huge impact on the stock market and the economy, including the automobile industry. But that won’t last, and as optimism returns, auto sales will rise. Consumers are transitioning from fuel-driven cars toEVs, so it’s wise to find the electric vehicle stocks to buy before the bull market returns.

The adoption of EVs across the U.S.is impressiveand it is growing at asolid pace. EV makers are trying their best to increase production and meet the rising demand. The Government is also offering the necessary incentives to ensure the quick adoption of EVs. Looking at the current scenario, one can rightly say that EVs are the future of the world and they are here to stay. The current market volatility can be considered an ideal opportunity to invest in electric vehicle stocks before they surge again.

I have always been bullish about EV stocks because I believe in the technology and its long-term impact on our lives. Complete EV adoption could take years but we are on the right path. The EV companies mentioned here are in the growth stage and have humongous potential to grow. Let’s dig deeper into the electric vehicle stocks to buy before the bull market returns.

Nio (NIO)

Chinese EV makerNio(NYSE:NIO) has been in the news lately for several positive developments. The company has an excitingnew battery upgradefor the fourth quarter of this year. It will offer a 150 kWh solid-state battery to old and new Nio car owners alike.

All new Nio models will come with the new battery. Existing owners can easily swap in the batteries whenever they want to.

This battery is a great move in the industry and it will improve the efficiency of Nio models to a great extent. That said, the EV maker also has an attractive product lineup. Last month, itlaunched the ES7, an advanced EV that can go from 0 to 60 miles per hour in under four seconds. It is also working on a mass-market model that will become available in 2024.

With a new battery and an attractive product lineup, there is a lot to look forward to. Having reported solid monthly deliveries for consecutive quarters, Nio has become a strong player in the EV industry and NIO stock is a deal while it is trading below $20. The new products will drive growth and the company could also impress investors with the quarterly numbers.

The company is in a good place to capture a large pie of the EV industry so NIO stock is a solid buy before it starts the upward journey. It’s one of the top electric vehicle stocks to buy before the bull market returns.

$NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$