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.

Company overview

• Founded: November 2014
• Headquarters: Shanghai, China
• Number of employees: 20,000+ (2023)
• Industry: Automotive
• Key people: William Li (CEO), Lihong Qin (President), Wei Feng (CFO)

Stock reaction

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.

Stock performance

• 5 day: -5.46%
• 1 month: -30.96%
• 3 months: -26.70%
• Year-to-date: -37.05%
• 1 year: -52.26%

NIO stock price targets

• Mizuho: $15
• Deutsche Bank: $16
• CLSA: $14
• Sanford C. Bernstein: $8
• JP Morgan Chase & Co.: $10.50
• Citigroup: $19.20
• UBS Group: $15
• Nomura: $7.50
• Barclays: $8
• Morgan Stanley: $12

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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