NIO Price Rises on News of European Market Entry

Dubbed the ‘Chinese Tesla’, Nio plans to enter European markets this autumn, CEO William Li said at a web conference recently. It has been suggested that Norway could be the ideal headquarters for the Electric Vehicle maker.

Nio was founded in Shanghai back in 2014, and are the are the second largest electric vehicle (EV) manufacturer in the world by market cap. They are sixth largest of all global car companies, valued higher than giants like GM and Honda, despite only selling cars in China presently.

The stock price rose today By 9% on the news, up to $50 at the time of writing. Nio already have offices in the UK, US and Germany, and their workforce number is now up to 9000 strong. Even though the share price rose 1600 percent over the last 12 months, we remain bullish and predict the price will jump to over $75 by July, if the company continues to Exceed delivery demands.

For me NIO is a BUY.