Chinese EV maker NIO (NYSE:NIO) reported vehicle deliveries of 16,074 for the month of October, up by 59.8% year-over-year. The company’s vehicle deliveries consisted of 11,086 premium smart electric SUVs, and 4,988 smart electric sedans. NIO’s cumulative deliveries reached 415,623 as of October 31.
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As of October 31, “NIO had deployed 2,079 Power Swap Stations globally, with 621 of them strategically located along expressways in China.” In addition, the company’s global charging network consisted of 1,923 Power Charger Stations with 9,122 supercharging piles.
What is the Future Price of NIO Stock?
Overall, analysts are cautiously optimistic about NIO stock with a Moderate Buy consensus rating based on six Buys and three Holds. The average NIO price target of $14.16 implies an upside potential of 93.9% at current levels.
