How Nio Stock Can Surge To $10 [Forbes]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Forbes
Chinese luxury electric vehicle maker Nio stock reported deliveries of 20,976 vehicles for October, roughly flat versus September and up 30% year-over-year. Deliveries for the first 10 months of the year came in at 170,257 vehicles, up 35% versus last year. Nio's delivery performance was better than rivals. For perspective, Xpeng delivered 23,917 vehicles for October, up 20% compared to last year. Xpeng's total year-to-date sales for the first ten months of the year stood at about 122,500 units, a 21% increase from the same period last year. In comparison, Li Auto , the largest of the emerging EV players in China, delivered 51,443 vehicles in October 2024, up 27.3% year-over-year. So what has been driving growth for Nio and what are some of the trends that could drive the stock higher? Growth for Nio was driven largely by its value-priced Onvo brand, which sold a total of 4,319 vehicle units for the month. The brand's first vehicle, the Onvo L60, was launched in September and is pr
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- 11/1/24 - Form 6-K
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