NIO (NIO, $58.91) unveiled its all-electric sedan
Shares of Chinese electric carmaker NIO unveiled its first battery-powered sedan ET7. The ET7 prices start at 448,000 yuan ($69,193) before government subsidies. Deliveries will begin the first quarter of 2022.
NIO also launched a bigger volume battery pack that promises to boost driving range, an upgraded autopilot system and the second iteration of its battery-swap station.
The ET7 offers two battery options, 70 kWh and 100 kWh, that provide a range of 311 miles and 435 miles, respectively. By late 2022, the company will also offer a 150 kWh battery version that can go 620 miles on a single charge.
According to Wedbush Securities analyst Daniel Ives, strong demand for EVs in China is reaffirmed by solid sales figures from Tesla, Xpeng , Li Auto , Baidu and NIO indicate room for all electric carmakers.
“For this year we are seeing a tidal wave-like surge of EV demand globally with our expectations that EV vehicles ramp from ~3% of total auto sales today to 10% by 2025,” Ives wrote in a note. The analyst further mentioned that adding that EV sales can potentially double in the region over the next few years amid the pent-up demand for EV vehicles across all price points.
NIO's Stochastic Oscillator is remaining in oversold zone for 2 days
Be on the lookout for a price bounce soon.
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Notable companies
The most notable companies in this group are Tesla (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), NIO Inc. (NYSE:NIO).
Industry description
Automobiles continue to be arguably the most popular form of passenger travel in the U.S., and major automobile makers have revenues and market capitalizations running into multi-billions. In recent years, the industry has been experiencing some path-breaking innovations like electric vehicles and self-driving technology. While there are long-standing companies like General Motors, Ford, and Toyota Motors operating in this space, there are also emerging/rapidly growing players like Tesla – which has had a major role in the growing popularity of the electric vehicle market. With technological advancements taking steam in the auto space, we’ve also witnessed collaborations (or talks of potential partnerships) of carmakers with tech behemoths like Google’s subsidiary, Waymo.
Market Cap
The average market capitalization across the Motor Vehicles Industry is 32.93B. The market cap for tickers in the group ranges from 2.49M to 559.85B. TSLA holds the highest valuation in this group at 559.85B. The lowest valued company is EVTGF at 2.49M.
High and low price notable news
The average weekly price growth across all stocks in the Motor Vehicles Industry was -5%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was -8%. BCAUF experienced the highest price growth at 14%, while GKIT experienced the biggest fall at -59%.
Volume
The average weekly volume growth across all stocks in the Motor Vehicles Industry was 42%. For the same stocks of the Industry, the average monthly volume growth was 13% and the average quarterly volume growth was 88%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 43
P/E Growth Rating: 74
Price Growth Rating: 66
SMR Rating: 74
Profit Risk Rating: 85
Seasonality Score: 0 (-100 ... +100)