There are several new entrants in the electric vehicle manufacturing space, and figuring out which one of these will succeed in the long run can be quite challenging. EV start-ups that plan to begin production a year or two from now could be particularly risky investments, because there will be quite a few suppliers of electric vehicles by the time these companies enter the market. One such company is Nio (NYSE: NIO).
Nio, Inc (NYSE: NIO) was trading up about 1% on Thursday, while continuing to consolidate a 17% move off the bottom of $33.17 the stock printed on Oct. 7. The EV manufacturer, which recently began shipping vehicles to Norway had a rough third quarter, losing 36% of its value between July 1 and Sept. 30. On Thursday, it was reported 110-year-old asset management firm Baillie Gifford lowered its exposure in the China-based company during the period by about 287,255 shares, reducing its original 90
Chinese electric vehicle maker Nio Inc (NYSE: NIO) may introduce its electric sedan ET7’s electric drive system to all models, cnEVpost reported on Tuesday, citing a Chinese news publication. What Happened: The Shanghai-headquartered Nio may bring the second-generation electric motor to other models such as the ES8, ES6 and EC6, as per reports coming from China. The electric drive system has a combined system power of 480kW — 180kW at the front and 300kW at the rear — and a peak torque of 850 Nm