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NIO Limited (NIO) designs, manufactures, and sells electric vehicles in the People's Republic of China, Hong Kong, the United States, the United Kingdom, and Germany.
The company offers five, six, and seven-seater electric SUVs. It is also involved in the provision of energy and service packages to its users; marketing, design, and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities.
In addition, the company offers charging solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Mobile, a mobile charging service through charging trucks; Public Charger, a public fast charging solution; and Power Express, a 24-hour on-demand pick-up and drop-off charging service.
Further, it provides value-added services, such as statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; repair and routine maintenance services; courtesy car services during lengthy repairs and maintenance; and roadside assistance, as well as data packages.
NIO Limited has a strategic collaboration with Mobileye N.V. for the development of automated and autonomous vehicles; and collaboration agreements with various manufacturers for the manufacture of ES8, a six or seven-seater high-performance electric SUV. The company was formerly known as NextEV Inc. and changed its name to NIO Limited in July 2017.
With the recent announcement of its battery-as-a-service subscription model, under the new entity Battery Asset Co., in which it will own 25% stake, the stock has seen a strong "bullish wedge" formation. This stock should continue to increase along the chart's formation.
Entry Point: $14.40
Trading Range: $1.19 - 16.44
Stop Loss: $13.55
Target Price: $15.90
Taking profits at $16.80.
