China's Very Hot EV Maker Nio
Nio, EV Maker Taking on Tesla Source: Nio Hot Global Stock Shanghai based electric vehicle maker Nio wants to take on Tesla and be the "Tesla killer". It's share price on the NYSE has been soaring. It's up 1000% since it cratered in March at $3.00. It is now up to $26.50, Big Wall Street houses like Citi are calling it a buy. They've put a target price of $33.20 on it because of it's "very strong order backlog", its efforts to cut battery costs and its growing market share. Nio is back by two Chinese tech giants, Tencent and Baidu. The Nio EV car, shown above, is an example of Nio's fashionable, futuristic design in EVs. Nio's Different Approach Nio's business approach is innovative. It has heavily focused on creating a brand, including selling Nio hats and merchandise on line. It offers battery-swapping, mobile power vans and "Nio Houses" which