Nio Inc (NYSE: NIO) is pushing to the upside in premarket today after William Li – its chief executive was named “EV person of the year”.
Why did Nio CEO win the title?
Li was crowned at the 2024 TopGear.com Electric Awards on Monday.
The news arrives shortly after Nio became the first electric vehicle firm to launch semi solid-state batteries for the mass market. According to Jack Rix – edit-in-chief of BBC Top Gear:
Li has been signing deals all over China to use its battery swap tech as a standard on future cars, stamping his mark on EVs.
Note that the company based out Shanghai, China is also slated to unveil its first car for the mass market in May. Nio stock is down some 40% for the year at writing.
Watch here: https://www.youtube.com/embed/z9DFt5vEYig?feature=oembed
Nio saw a big increase in deliveries in March
Last month, Nio reported a 46% sequential increase in its monthly deliveries while the metric was up 14.3% versus last year (find out more).
The Chinese EV firm is close to hitting half-a-million in total deliveries to date. BBC’s Jack Rix also said on Monday:
Nio is busy rolling out its battery swap stations across central Europe, and if the format spreads the way, then Li could become one of the most influential people in the car industry.
Our market analyst Crispus Nyaga expects $NIO to hit $7.0 in the near term but expects a downturn to follow afterwards.
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