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NIO Goes Parabolic, Plots Tesla Flanking

A NIO EP9 electric car is displayed at its store in Beijing, China August 20, 2020. REUTERS/Tingshu Wang

"Chinese electric car maker NIO hit all-time intraday highs on Monday after doubling its deliveries in October to a new monthly record. NIO delivered 5,055 vehicles in October, an increase of 100% year-over-year. In 2020 deliveries jumped to 31,430 vehicles, a 111.4% spike compared to last year", reports Yahoo Finance. Tesla's main competitor may come from China, not from Detroit companies like Ford and Chrysler.

That is a parabolic curve which means NIO is doing amazingly great in the public market. The EV race is heating up as Nwite notes.

In 2019, leading EV manufacturer, Tesla, unveiled its Shanghai China plant, with a 250,000 production target in the South Asian country. China has become a huge market for New Energy Vehicle (NEV), and the American company is poised to take advantage of it.

In 2018, 1.3 million NEV were sold in China, coupled with Chinese government’s incentives, it opened ways for further interest. The Chinese government introduced a purchase tax exemption to encourage consumers to embrace EVs coming from plants in China.

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And our own is to wait until the cars are shipped to Nigeria? Or we just waiting to build the charging stations once the vehicles enter here? Of course some will even use diesel and petrol to power their charging stations...

The same way almost every country claimed to be in the race for Covid-19 vaccine production, we should also be in the race for EV production. China didn't invent anything in that respect, they are working with what is already known, so nothing stops us well.

Just enter the ring, it doesn't matter whether you win or lose; you will surely win someday.