NIO’s share price, which has soared above $42 and has a market capitalisation of nearly $60 billion, is already the world’s sixth-most valuable auto company, after overshot BMW in the capital markets on March 3rd with a share price of $35.5 billion and a market capitalisation of $48.2 billion. The good news is that NIO today released a 100kWh battery pack, 315km of NEDC for the EC6 model. NIO is also developing a 150kWh battery pack, by which time the ES6/EC6 NEEDC will have a range of more than 900 km.
The results of China’s new energy head seeds also seem to have made Tesla CEO Elon Musk look on, as he quipped in the latest social developments that NIO is still “young” and that “420 is ten times as much as 42”.
The 420 here is Tesla’s share price, which was actually over $438 at the time of writing.
From the core technology and visibility point of view, NIO and Tesla obviously still have a big gap, however, deep into the Chinese market, power exchange and so on may be NIO’s comparative advantage, in the promising new energy market, in the end what will happen in the future, it is not yet known.
It is worth mentioning that NIO plans to increase its annual production capacity to 300,000 units by the end of next year.