NIO - NIO: The Gamble On EV Battery Technology
2024-04-08 00:33:43 ET
Summary
- NIO's stock has had a poor Q1 at the stock markets, with its price having halved along with weakness in other EV stocks as well.
- Not all other EV companies have seen weak deliveries in Q1 like NIO and Tesla have, however. These numbers can also cast a shadow on the upcoming revenue figures.
- The company has some positives underway, though. It has started production of the long-range battery pack and is expanding partnerships for battery swaps too.
- In the meantime, its P/S has dropped to abysmal lows, which actually makes it attractive compared to EV peers. However, there's no convincing fundamental reason to buy it yet.
It hasn't been a poor start to Q1 2024 for China's electric vehicle [EV] company NIO ( NIO ), with a dramatic 52% year-to-date [YTD] price fall after it already saw a 7% decline in 2023....
NIO: The Gamble On EV Battery Technology