I have been talking about it for months and as early as a week ago, but the competition is coming.
The newest competition is Nio. Nio manufactures and markets electric vehicles. Nio already has a vehicle in production and they have delivered over 1,000 units under EP9, EVE, and ES8 brand names.
EP9 - the world's fastest' all-electric supercar.
EVE
ES8 - the electric SUV and very comparable to the Tesla Model X.
Nio was founded in 2014 and is headquartered in Shanghai, China and already has financial backing from Baidu and Tencent. This past week, Nio had an initial public offering on the New York stock exchange. They plan to use the money to ramp up production of their current ES8 and launch new vehicles in China first and then globally.
They too have an aggressive global long term plan which includes mobile charging stations inside electric vans, several electric car service centers, and battery swap stations. Nio wants to sell 50,000 vehicles by 2020 and 160,000 vehicles by 2025. Nio plans to have 12 store locations by the end of 2018. However, their expenses are rising and they will need to tap the capital markets again in the near future. One thing to be mindful of is Nio's valuation. As you know, Tesla's valuation is CRAZY.
Evercore ISI thinks Nio's valuation at best should double
which gives you a stock price of about $20, which is 100% more to the upside from the current stock price.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
