Wednesday , December 2 2020

Elon who? Tesla’s Chinese rival NIO is up 1,200% this year

TNW uses cookies to personalize content and ads to
make our site easier for you to use.
We do also share that information with third parties for
advertising & analytics.

Inside money, markets, and big tech

Zoom out tho

Chinese electric vehicle stock NIO is now up 1,200% for the year-to-date and has shown little sign of slowing down.

Often pegged as a primary Tesla rival, NIO is today worth almost $66 billion, making it the sixth most valuable carmaker in the world ahead of major marquees like US’ General Motors and Germany’s BMW.

On the other hand, Elon Musk‘s wunderstock Tesla is still number one, having eclipsed Toyota earlier this year.

nio, stock

But while Tesla has impressively returned nearly 400% this year, its 2020 returns seem small compared NIO’s.

In the 10 years since Tesla‘s IPO, the company’s stock has risen by up to 10,500% at its peak, and more than 8,500% at today’s prices.

Zoom out and it’s clear just how far NIO has to climb to truly compete with Tesla‘s returns.

[Read: Watch Tesla’s meteoric rise — set to techno-remixed Elon Musk tweets]

NIO’s share price actually spent most of its time since its US IPO in 2018 in the red. In fact, it was only in June that the company’s stock turned positive since its listing on the New York Stock Exchange.

NIO stock has now returned more in two years than the tech-heavy NASDAQ 100 index has in the past 10.

(If the visualization above doesn’t show, try reloading this page in your browser’s “Desktop Mode.”)

Indeed, NIO’s success is remarkable. As Bloomberg noted, the company was in dire straits before consumer and market sentiment shifted from skepticism to opportunism.

Bloomberg highlighted a $1 billion investment led by a Chinese municipal government in June as a key trigger for NIO’s turnaround.

Published November 13, 2020 — 16:30 UTC

Thank you!

Copyright © 2006—2020.
All rights reserved.
Made with

This Article was first published on thenextweb.com

About IT News Ug

Check Also

Big Pharma’s COVID-19 vaccines injected $1 trillion into the S&P 500

TNW uses cookies to personalize content and ads to make our site easier for you …

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

//zuphaims.com/afu.php?zoneid=2572107