Why NIO Stock Is Down

fool2021-03-25

What happened

Shares of Chinese electric-vehicle makerNIOwere trading lower on Wednesday, amid broad market turbulence affecting shares of manyelectric vehicle makersand other emerging technology companies.

So what

There was no major news driving NIO's shares lower -- or major news of any kind that was directly related to NIO or its stock. The company did share some minor news, but it seems positive: As of 3:16 a.m. local time, a NIO battery-swap station in Suzhou (just west of Shanghai) completed the company's 2 millionth battery swap.

NIO said that its network of over 200 battery-swap stations -- which automatically swap a NIO's battery pack for a fully charged one -- now complete a swap about once every 10 seconds, on average.

It's not huge news, and it's certainly not what's moving the stock today. But now you know.

Now what

That seconds-between-battery-swaps number could well fall over the next several months, as NIO begins deploying its new "second-generation" battery-swap stations. The new stations can store more battery packs and complete swaps more quickly than the current units, and theycost less to build, NIO said earlier this month.

NIO confirmed on Wednesday that it expects the first of those second-generation stations to be up and running in mid-April.

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Comments

  • HappyTrade
    2021-03-26
    HappyTrade
    Buy again
  • 中概真菜
    2021-03-25
    中概真菜
    Actually is because of the ridiculous US governance[微笑] [微笑] [微笑] 
  • greynaldum
    2021-03-25
    greynaldum
    Time to buy
  • Tourmaline
    2021-03-25
    Tourmaline
    Buy buy
  • lawgbk
    2021-03-25
    lawgbk
    Sigh
  • JJQ
    2021-03-25
    JJQ
    Good to hear!  NIO! ?
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