All NIO and other EV stocks shareholders are very optimistic about the future of the industry, and at the same time waiting for any great news that can trigger a bull on the market.
NIO stock News
NIO, a pioneer in China’s high-end electric vehicle market, today announced the results of its deliveries. The manufacturer delivered 3,965 vehicles in August 2020, representing a strong 104.1% year-over-year growth, bringing its deliveries to 21,667 vehicles in 2020 in total, increasing by 109.9% year-over-year
The manufacturer also indicated that deliveries of the EC6, its 5-seater electric coupe with a range of 615 km, will begin in September 2020.
“In August, we achieved our best-ever monthly performance on both deliveries and order growth,” said William Bin Li, founder, chairman, and chief executive officer of NIO. “As we continue to improve the production capacity for all NIO products, our monthly capacity will reach 5,000 units in September to support our future deliveries. With the closing of our recently announced ADS offering, we have further enhanced our balance sheet and optimized our capital structure to be better prepared for the acceleration of our core technology development, autonomous driving in particular, and the global market expansion in the future,” said William Bin Li, founder, President, and CEO of NIO.
This new could boost the stock price even further and set a new target price beyond the $20.