NIO is the first EV Stock to $20.
EV-News.com asked a question:
Which EV stock will hit $20 first?
The results show a majority of people voted for Workhorse ($WKHS)
Why is NIO the first to $20?
SALES:
On August 11, 2020, NIO has their earnings report and EV-News.com admitted that NIO is a top company. NIO announced sales were up four times (x4) compared to 2019 Q2 sales, they are the #1 SUV seller in China priced about 400,000 RMB ($57,500 USD), and would be hiring more workers to produce over 5,000 EVs per month.
NIO also has an important aspect to their company that is often overlooked.
The BaaS / Suppliers of Power.
BaaS
"Battery as a Service"
During their Earning's Report, NIO declared that the manufacturing cost of an individual battery has diminished, while the efficiency of the chargers has surged.
NIO already has BaaS systems installed throughout China.
NIO also recently announced that the EV company would be doing a battery subscription program. The cost to "exchange" the batteries are not too expensive and this also helped lower the cost of the vehicle by almost $10,000.
Future Outlook
NIO recently announced that they are looking to expand beyond China.
They have established Europe as the targeted location for 2021. With the potential of opening its borders, NIO is further establishing itself as a top company to invest in.
As research and innovation continue in their BaaS systems, this should allow the price of the battery to diminish and accelerate the exchange time.
The future of this company is solid. At the beginning of every month around the 3rd-4th, NIO announces how many vehicles they sold in the prior month (and the stock always jumps). Looking forward to seeing how many sales they made in the month of August.
Editor in Chief Statement
After listening to multiple EV stock's Q2 Earning reports, EV-News.com determined NIO was the company to invest in and voted them as the first to $20. NIO is ahead of any USA based competition, and are proving it with their stock price. It will be exciting to see the future and what happens with this company. EV-News.com will keep an eye on $NIO.
- Alan Dowden
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