NIO to beat Tesla as China’s EV leader
On June 29, Louis Navellier, the chief investment officer of fund management company Navellier, said that NIO will surpass Tesla to become China’s largest EV company.
Subsequently, NIO’s share price ushered in a rise this Monday.
Louis Navellier said: “Another EV company will eventually replace Tesla to become China’s largest EV manufacturer. The company I am talking about is NIO. The current situation is that this company is leading mainland China and Hong Kong’s EV market.”
He further states: “In the future, this company calls itself a new generation of car companies, because the electric vehicles they design and produce use cutting-edge technologies such as interconnection, autonomous driving, and artificial intelligence. Moreover, the company is also in cooperation with Nvidia and other cutting-edge chip companies.”
At the beginning of June this year, NIO stated that it would launch a high-end electric car next year. The current code name of the new car is “Gemini”. This move crushed outside speculations, previous rumors that a Shanghai-based company will launch a lower-priced entry-level electric car.
According to the performance report recently released by NIO, the company’s delivery volume in May increased by over 95% year-on-year.
