Despite reporting another record month of electric vehicle (EV) deliveries yesterday and more good news since, Nio (NYSE:NIO) stock has been down in trading today, suggesting an opportunity to buy the dip for bullish investors.
cnEVpost is a business publication dedicated to covering Chinese EV companies, and reported today that Nio would be partnering with Red Star Macalline Group to .
Compared to
Tesla (NASDAQ:TSLA) charging stations, Nio’s offerings have an emphasis on battery swaps, wherein a driver trades their drained battery for a freshly charged one, rather than having to wait for the battery to charge.
cnEVpost additionally reported today that top Chinese investment bank CICC expects Nio to benefit from .
In the Tuesday report, the bank said “excellent user experience and word-of-mouth effect” were big drivers of new customer acquisition. Furthermore, “CICC remains unchanged on NIO’s earnings forecast and maintains its $85 price target.”
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
