Where Will Nio Stock Be in 3 Years?
With share prices down 26% over the last 12 months, Nio (NYSE: NIO) stock hasn't been a very rewarding investment -- especially compared to popular electric vehicle (EV) maker , which more than doubled in the same period. With that said, the Chinese company boasts an impressive growth rate and several key innovations to help set it apart from the competition. Let's explore what the next three years could bring.
The Chinese EV market is competitive, and automakers must offer a unique value proposition to stand out. For Nio, this involved targeting the premium side of the industry with new products, such as its ET9 sedan, expected to retail for 800,000 yuan ($112,151) when it becomes available in 2025. But Nio's efforts don't end there.
Unlike rivals, Nio has pioneered a unique charging strategy called battery as a service, allowing customers to subscribe to a program for swapping batteries at any of its 2,200 global swap stations. According to management, its technology can exchange spent batteries for new ones in three minutes. This is significantly faster than Tesla superchargers, which take 15 minutes to fill a battery up to provide 200 miles of service.
Source Fool.com
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