What's Going On With EV Maker Nio Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Nio Inc (NYSE:NIO) stock was trading higher Thursday amid reports of launching its first vehicle under the Onvo brand, priced lower than Tesla's Model Y. However, the stock reversed its gains. Nio plans to deliver the L60 SUV in September and aims for international sales. The L60 will use affordable batteries from BYD Co. Nio's stock has lost 33% in the last 12 months. Investors can gain exposure via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:KARS).
May 16, 2024 | 3:39 pm
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NEGATIVE IMPACT
Tesla faces new competition from Nio's Onvo brand, which is launching a vehicle priced lower than Tesla's Model Y.
Nio's new vehicle, priced lower than Tesla's Model Y, could attract price-sensitive customers, potentially impacting Tesla's sales in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Investors can gain exposure to Nio via KraneShares Electric Vehicles And Future Mobility Index ETF.
The ETF includes Nio, providing investors with a diversified exposure to electric vehicle and future mobility stocks.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Investors can gain exposure to Nio via KraneShares MSCI China Clean Technology Index ETF.
The ETF includes Nio, providing investors with a diversified exposure to clean technology stocks in China.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Nio Inc is launching its first vehicle under the Onvo brand, priced lower than Tesla's Model Y. The L60 SUV will be delivered in September and aims for international sales. The stock has lost 33% in the last 12 months.
The launch of a new, competitively priced vehicle under the Onvo brand could boost Nio's market position and sales, especially with plans for international expansion. However, the stock has been underperforming, losing 33% in the last 12 months.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
XPeng Inc is also leveraging BYD batteries for its Mona sub-brand, following Nio's strategy.
XPeng's adoption of BYD batteries for its Mona sub-brand aligns with Nio's strategy, potentially enhancing its competitive edge in the EV market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50