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Chinese electric vehicle company, NIO Inc. (NYSE: NIO), hasn’t had the best start to 2024 with the stock plummeting by 37.05% year-to-date.
That’s despite the company signing battery-swap agreements with other Chinese automakers, including, Changan Automobile, Geely Group, JAC Group and Chery Automobile.
Back in the December, NIO also announced a $2.2 billion investment from Abu Dhabi. You can read more about it here.
On Thursday, the company released the latest delivery numbers for January, which had a rare positive effect on the share price.
NIO delivered 10,055 cars last month, which was up by 18.2% from January 2023.
The company has delivered 459,649 vehicles in total as of 31/1/2024.
The EV maker is expected to announce the latest financial results for the fourth quarter on around 21/3/2024.
The stock was up by 1.60% at the end of trading day on Thursday at $5.71 a share and is currently trading at the lowest level since June 2020.
NIO stock price targets
NIO Inc. is the 1367th largest and 5th largest electric vehicle company in the world with a market cap of $11.91 billion.
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Sources: NIO Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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