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NIO Stock Gains On Expectations It’s Set to Unveil New Models By Investing.com

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Chinese company that makes electric vehicles NIO Inc The NYSE rose 5.2% Monday following a StreetInsider report that it was expected to unveil new models during its NIO Day celebration.

StreetInsider reports that models will be unveiled by the company, one being ET5, and another model not yet known. 

On December 18, the company will host the NIO Day annual event at the Olympic Sports Center, Suzhou.

NIO’s ET7 Sedan was unveiled at the previous event. 

Following its second-quarter results, NIO said it will be entering the mass market via a new brand with preparations accelerated and a core team established. NIO CEO William Li said that NIO has the same relationship to its new brand than Lexus to Toyota and Audi to Volkswagen. (DE :).”).

Vijay Rakesh (Mizuho Analyst) stated in a note last week that he was optimistic about electric vehicle manufacturers Tesla (NASDAQ:), and NIO because of strong electric vehicle demand and subsidy tailwinds. 

 

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