Nio Inc. (NIO) is a Chinese multinational automobile manufacturer that specializes in designing and developing electric vehicles.
And while the company has struggled in recent months due to supply-chain constraints, it’s continuing to see solid growth.
Back in April, NIO reported that it had sold over 100,000 electric vehicles since its founding in 2014. For perspective, it took Tesla (TSLA) over 12 years from its founding to manufacture the same number of electric vehicles.
And in September, NIO delivered 10,628 automobiles worldwide – marking its best month ever… and year-over-year growth of 126%.
This is a trend that will likely only continue to grow…
Since TSLA entered the Chinese market and increased the popularity of electric vehicles in the region, Beijing has realized that it can capitalize on this elevated demand to tackle issues such as air pollution and its over-reliance on fossil fuels.
Because of this, the country amplified its spending in the space. This enabled it to become home to the largest electric-vehicle market in the world. It has also helped bolster NIO’s financials and put pressure on TSLA in the process.
And as China further spends on electric vehicles, it should result in greater revenue for NIO moving forward.
The Forever Battery: Making Gas Guzzlers Obsolete
Sponsored
A new battery breakthrough is ready to hit the market. It could revolutionize the $2 trillion automotive industry…
And could soon make gas guzzlers obsolete.
This technology is predicted to cause a 1,500% surge in electric vehicle sales over the next four years.
The company pioneering this new battery could be the investment of a lifetime.
