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Nio Outlook Raised With Upgrades After Nio Day

Highlights:

  • Pre-orders of ET7 Nio’s newest product line have overwhelmed and crashed the Nio App.
  • Waitlist to order the Nio ET7 have 3+ month.
  • JP Morgan Chase analyst Nick Lai raises Price Target to $75 from $50.
  • Deutsche Bank analyst Edison Yu took his price target to $70 from $50.
  • Credit Suisse analyst Bin Wang raised his target to $71 from $65.

Wall Street Raises Overall Sentiment Toward Nio Inc.

This past weekend, Nio Inc.,  hosted their annual consumer event Nio Day 2021. The overall sentiment? It was a success. Both Asia’s and U.S. Wall Street viewed the contents unveiled on Nio Day with a very positive sentiment. In short, Nio launched a new electric sedan line and talked about their battery and software improvements, including a partnership with Nvidia.

Nick Lai, JP Morgan Chase, analyst raised Nio’s (Ticker: NIO) price target to $75. He has kept the price target to Overweight rating on the shares. Lai explains on his research note the following four points regarding the company’s new model and technology advancement:

  • In-house autonomous driving solution with Nvidia (NVDA).
  • Solid-State Batteries for their new model (ET7 Sedan).
  • Monetization LiDar.
  • Commercialization of LiDar.

Analysts across Wall Street are raising their price targets as well. Premarket gains have raised Nio’s market capitalization to more than $100 billion. It is currently up more than 10% in the premarket, trading around $65.

Solid-State Battery Technology Will Be the Ultimate Test.

Can Nio really produce solid-state battery technologies in less than 2 years?

Nio’s plan to include solid-state batteries is a direct challenge to EV competitors including QuantumScape (TICKER:QS) – who is pioneering solid-state battery. QuantumScape, whose company is devoted to solid-state battery technology, has a timeline of 2025 whereas Nio has already announced an ambitious release plan of 2022. Nio has yet to provide further details on their solid-state batteries, we look forward to seeing what they have in store.

 

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