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NIO January deliveries announced

2 February 2024 By Klavs Valters

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Chinese electric vehicle company, NIO Inc. (NYSE: NIO), hasn’t had the best start to 2024 with the stock plummeting by 37.05% year-to-date.

That’s despite the company signing battery-swap agreements with other Chinese automakers, including, Changan Automobile, Geely Group, JAC Group and Chery Automobile.

Back in the December, NIO also announced a $2.2 billion investment from Abu Dhabi. You can read more about it here.

On Thursday, the company released the latest delivery numbers for January, which had a rare positive effect on the share price.

NIO delivered 10,055 cars last month, which was up by 18.2% from January 2023.

The company has delivered 459,649 vehicles in total as of 31/1/2024.

The EV maker is expected to announce the latest financial results for the fourth quarter on around 21/3/2024.

Company overview

  • Founded: November 2014
  • Headquarters: Shanghai, China
  • Number of employees: 20,000+ (2023)
  • Industry: Automotive
  • Key people: William Li (CEO), Lihong Qin (President), Wei Feng (CFO)

Stock reaction

The stock was up by 1.60% at the end of trading day on Thursday at $5.71 a share and is currently trading at the lowest level since June 2020.

Stock performance

  • 5 day: -5.46%
  • 1 month: -30.96%
  • 3 months: -26.70%
  • Year-to-date: -37.05%
  • 1 year: -52.26%

NIO stock price targets

  • Mizuho: $15
  • Deutsche Bank: $16
  • CLSA: $14
  • Sanford C. Bernstein: $8
  • JP Morgan Chase & Co.: $10.50
  • Citigroup: $19.20
  • UBS Group: $15
  • Nomura: $7.50
  • Barclays: $8
  • Morgan Stanley: $12

NIO Inc. is the 1367th largest and 5th largest electric vehicle company in the world with a market cap of $11.91 billion.

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Sources: NIO Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

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