The company recently announced robust delivery numbers for July 2021. Li Auto is a China-based company that designs and manufactures premium EVs. The average NIO price target of $64.50 implies 43.1% upside potential to current levels. Nio, whose stock has surged over 231% in one year, is scheduled to announce its Q2 financial numbers on August 11. Furthermore, hedge fund managers have increased their holdings by 54.0K shares in three months. On TipRanks, Nio has received 6 positive analyst reviews for a unanimous Strong Buy consensus rating. While Nio’s delivery growth rate in July significantly lagged peers (read more: NIO July Deliveries Jump 124.5% Shares Gain), Wall Street maintains a bullish outlook on the stock. Furthermore, its cumulative deliveries of vehicles, including the ES8 (six-seater or seven-seater flagship SUV), ES6 (five-seater high-performance SUV), and EC6 (five-seater premium coupe SUV) reached 125,528 as of July 31. Nio said that it delivered 7,931 vehicles in July, implying year-over-year growth of 124.5%. The company recently announced delivery numbers for July 2021. Meanwhile, with over 138% growth in one year, the average Tesla price target of $746.91 implies 5.1% upside potential to current levels. TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Tesla is currently Positive, with hedge fund managers increasing their holdings by 229.1K shares in the last quarter. Tesla’s Moderate Buy consensus rating is based on 12 Buys, 7 Holds, and 4 Sells. In addition to Potter, most of the analysts have a bullish view of TSLA stock. Thanks to its back-to-back strong quarterly performances and solid demand, Piper Sandler analyst Alexander Potter reiterated a Buy rating on Tesla stock with a price target of $1,200 (68.8% upside potential). The EV pioneer continues to deliver robust financial numbers (read more: Tesla Is Firing on All Cylinders Analyst Says ‘Buy’), backed by stellar demand, higher production and deliveries, and efforts to reduce costs. Elon Musk’s Tesla holds the lion’s share of the market, despite the growing number of competitors. When combined with the country’s strong sense of community and high purchasing power, it is an extremely attractive market for NIO in Europe.Let’s begin with Tesla, which is synonymous with EV.
NIO’s CEO William Li added: “In Europe, Norway is at the forefront of e-mobility and sustainable growth. In 2022, the offer will be established nationwide through a cooperation network with additional authorized partners. In addition, NIO will establish a service network in four other cities (Bergen, Stavanger, Trondheim and Kristiansand) in 2021. Within Norway, the premium services are based on the establishment of a full-fledged NIO service and delivery center in Oslo. giving NIO users in Norway a unique charging experience. With NIO Power Home, a charging solution developed for the home will be added to the offering. In addition, NIO will also build its own Supercharger network in Norway. More swap stations will be added in 2022, creating initially a power network in five cities in Norway. The first four stations are scheduled to go into operation before the end of 2021. NIO intends to establish its entire product and service portfolio in Europe – including the innovative NIO Power Swap technology, which enables vehicle batteries to be automatically replaced within three minutes. NIO launched the ET7, a flagship premium smart electric sedan, in January 2021. NIO launched the EC6, a five-seater premium smart electric coupe SUV, in December 2019, and began deliveries of the EC6 in September 2020. NIO launched the ES6, a five-seater high-performance premium smart electric SUV, in December 2018, and began deliveries of the ES6 in June 2019. NIO launched the ES8, a seven-seater flagship premium smart electric SUV in December 2017, and began deliveries of the ES8 in June 2018 and its variant, the six-seater ES8, in March 2019.
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