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Nio deliveries surge 320% in July; Nikola to report earnings this week

Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Ines Ferre discuss the market action for Nio and Nikola.

Video Transcript

BRIAN SOZZI: Let's get right to Ines Ferre for a look at the electric auto market. Ines.

INES FERRE: And Brian, taking a look at Nio, the electric car maker in China, after it reported its deliveries for July-- with those deliveries increasing by a whopping 322%-- year-to-date, the increase has been 111% with Nio delivering more than 17,000 vehicles year-to-date. Right now, the stock is up more than 11%. Year-to-date, it's up more than 229%.

Just to give you an idea about Nio, this company went public in 2018. Of course, it's seen as the competitor to Tesla in China. It's a much smaller company, though, than Tesla. Just to give you an idea, Tesla last year delivered more than 367,000 vehicles. Nio delivered more than 20,000 vehicles.

But so far, year-to-date, this stock-- this company has done very well with deliveries. It received a huge capital injection earlier this year, over the last couple of months. And it's seen as really benefiting from the tailwinds of capital going into the electric vehicle market.

Also, we're taking a look at Nikola, because Nikola will be reporting its quarterly results after going public just in June through a merger, a [? stat ?] merger. So right now, Nikola is up more than 3%. Of course, the company hasn't manufactured yet a vehicle or sold vehicles, but it has come out with prototypes of its semi-truck, of its Badger. It's done online reservations for the Badger. So expect to hear a lot about that, about any development.

The company just, in fact, broke ground in Arizona for a new plant in Arizona that's going to manufacturer more than 35,000 semi-trucks. So any color around that is what analysts will be looking at. Brian, Alexis.

BRIAN SOZZI: Ines, I think that's a very good point. Essentially, there are no financials for this company. I mean, they're burning money. So it'll be interesting to see the market reaction.

INES FERRE: Exactly.