Nio Takes Critical Step for Its Next Growth Phase

Nio (NYSE: NIO) investors had been patiently waiting for this growth phase to take off. It was only a matter of time before Nio's recently launched, and more affordable, brands Firefly and Onvo gained traction and drove deliveries higher. In October, Nio's deliveries jumped 92.6% compared to the prior year, and year-to-date deliveries are up nearly 42%. Meanwhile, despite being in the middle of this growth phase, the automaker is already putting its fingerprints on the next phase. Nio's Firefly brand is the youngest of its brands and still has immense near-term upside, as the brand's total of 5,912 vehicles delivered in October was only about 14% of the automaker's monthly total. What's intriguing about Firefly, for investors, is that the brand was designed with global markets in mind. More specifically, it was largely focused on the compact car segment that accounts for about 17% of global annual sales, and Europe is home to a third of those compact cars. Nio's recent move goes beyond just preparing to sell overseas, and it's specifically seeking growth in right-hand-drive markets that don't have punitive tariffs on Chinese electric vehicles (EVs). Just this week Nio rolled out its first round of right-hand-drive vehicles for export to Singapore; the automaker plans to enter Thailand and Great Britain next year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool