When Chinese electric vehicle (EV) maker (NYSE: NIO) went public in September 2018, it seemed like an interesting alternative to investing in Tesla (NASDAQ: TSLA). Nio was growing rapidly and stood out from the competition because it used swappable batteries, which could be quickly replaced across its network of battery stations, instead of traditional chargers.

Prior to its public debut, Nio turned a lot of heads with the introduction of its high-end EP9 supercar in 2016. That vehicle was never mass produced, but it generated a lot of buzz for Nio's brand before it rolled out its first commercial vehicle the following year. Today, Nio produces a wide range of electric sedans and SUVs.

Image source: Nio.

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Source Fool.com