Shares of NIO surged over 300% in the last year and many investors are still bullish on the stock.
According to cnEVpost, China International Capital Corporation Limited has updated its forecast for Nio, saying it expects the Chinese electric vehicle maker to sell 98,000 cars in 2023, 5% more than its previous estimate. They expect Nio’s production and sales to remain strong throughout 2023.
Nio delivered 21,896 units in the second quarter, near the upper end of the company’s 21,000- to 22,000-unit delivery guidance, in line with market expectations.
What to expect on Nio Power Day
The company recently announced it would be holding its Nio Power Day next week as an informal third anniversary of Nio Power. The event will be hosted in Shanghai, in a hotel in close proximity to one of the company’s battery swapping stations. The intention is that Nio will use this as a platform to “showcase its products, technologies, and layout plans related to energy replenishment.” Here’s what you need to know about Power Day:
- The event will be streamed domestically in China for interested investors and attendees. Unfortunately, it will not be available online to interested parties outside of the country.
- According to Benzinga, Nio Power “is a mobile, internet-based power solution with extensive networks for battery charging and swap facilities. Through Power Cloud, the unit offers a power service system with chargeable, swappable and upgradable batteries to users.
- Nio also offers at-home charging, which gives users more than a 50% battery charge in just an hour. Users can also charge via their mobile devices.
- Nio has previously indicated their intention to speed up the opening of their improved battery-swapping stations, where a battery can be replaced in approximately three minutes. It’s possible that updates on this endeavor will be made at Power Day.
- Nio stock is already up about 30% over the past month, which is also outperforming Tesla approximately three times over in the same time frame.
- Power Day comes on the heels of Nio being recently approved for its flagship SUV to be mass produced and sold in Europe. It will enter this market in Norway with hopes that it will spread to other points over time.
Power Day is also an opportunity for investors to do deeper research for themselves, as the company will share future plans and strategy, along with a closer look at what they have to offer. Any time a company is providing a road map for their future, anyone who might hold an interest in investing with them should take advantage so they can verify if they want to buy into their future. The information at the upcoming event may or may not be jaw dropping but it should help in putting the coming years into much clearer focus.
