On July 13, NIO’s stock was at $45.95. However, after that, it had a slump: the stock is still declining. Today, it is at $41.5, resulting in a 9.7% loss. Nevertheless, the company has recently held a Power Day Event. The presentation showed that the company is not just creating cars, it is also committed to playing the long game, ensuring products are in place to support buyers. That is crucial for the long-term growth of NIO stock.
The company has taken an unorthodox approach from most EV makers in terms of tackling range anxiety. Nio has built charging stations — the usual solution — but the focus is on its battery as a service program. Nio owners can pay for their battery through subscription, resulting in a lower cost of purchasing a Nio EV because the battery is the most expensive component in an electric car. However, it also lets users swap out for higher or lower capacity batteries as needed.
Another reason is that at the start of the month, Nio said June deliveries for its EVs hit 8,083. This is a 116.1% year-over-year increase. And it continues a streak of monthly delivery records. Also, when about range anxiety, charging, and battery swapping, do not forget the Nio ET7. When announced in January, Nio was focused on the fact that this luxury sedan will be its first attempt at autonomous driving.
Finance and Entertainment Reporter
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