Do Nio's Record Deliveries Mean the EV Maker Has Turned the Corner?
Investors have been waiting for Chinese EV maker Nio (NYSE: NIO) to begin to show the promise many had already priced into the stock. That's been especially true recently as the company has had to navigate challenge after challenge.
Nio needs production volume growth to accelerate. But headwinds this year have kept vehicle deliveries fairly steady, and losses continued to grow instead. With Nio just reporting a huge jump in November monthly deliveries on Thursday, investors might now think the company has finally turned the corner.
When Nio reported its third-quarter update last month, it showed signs that its investments to grow production capacity last year were starting to pay off. It delivered 31,607 electric sedans and SUVs in the third quarter after averaging just about 25,000 for the prior three quarterly periods.
Source Fool.com
