Written by Cláudio Afonso | info@claudio-afonso.com
Daiwa Capital Markets analyst reiterates NIO’s price target of $72 and a Buy rating implying an upside potential of 253.62% based on the last closing price of $20.36. The analyst forecasts that the EV maker will rise its sales volume by 59% in 2022. On January 2021, two weeks after NIO shares hit its all-time-high at $66.99, Daiwa Securities reiterated its Buy rating on NIO shares in with a $100 price target. The Group was one of the first ever to give a three digit price target on NIO shares.
Despite the chip shortage issue, Daiwa analyst sees “strong delivery capacity for existing models” as well as an “expected shorter ramp-up period for the production of new models”. The Shanghai-based company is likely to post “strong auto sales growth starting later this year through 2024, supported by new model launches and steady deliveries”
Daiwa Capital Markets is the wholly owned subsidiary of Daiwa Securities Group, one of the largest brokerage and financial services groups in Japan.
NIO’s Shanghai Manager, 庆华, wrote this Friday on NIO App regarding the Covid-19 situation in China and how it is affecting the company. “The closure time of the epidemic in Shanghai has exceeded most of our expectations” — he started to say. “At present, almost all of the 1,240 employees of the Shanghai company are also confined to home, unable to respond to the service needs of users and friends in a timely manner, and apologize to users and friends.” — NIO’s Shanghai General Manager said.
On April 2, Ganesh Iyer, Chief Information Officer of NIO, Executive Vice President and Managing Director of Nio’s North American office was invited to talk at NIO’s SEEDs Talks, in China. Iyer, talked about the development and evolution trend of the automotive industry and its characteristics. Before joining NIO, Iyer started working for Tesla in 2012, by the time the American EV maker launched its first electric vehicle.
NIO announced on Monday that held the the ceremony for the completion of NIO’s Vehicle Pilot Center on March 16 with the first vehicle from NeoPark in Hefei rolling off the production line. NeoPark is a hub for hundreds of key supporting enterprises with an annual production capacity of 1 million vehicles and 100 GWh battery. NeoPark is expected to realize a gross yearly output of RMB 500 billion ($78 Billion USD).
Written by Cláudio Afonso | info@claudio-afonso.com
