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Technology Stocks : NIO, China's Tesla Rival
NIO 61.95+6.2%Jan 22 4:00 PM EST

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From: Julius Wong11/28/2020 7:08:25 AM
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Nio preps for big investor event in January
Nov. 27, 2020 8:05 AM ET|About: NIO Limited (NIO)|By: Clark Schultz, SA News Editor

Nio (NYSE: NIO) is slated to host Nio Day on January 9 in Chengdu in an event that looks like could be a major catalyst for shares.

The Chinese electric vehicle maker is expected to introduce its first sedan model and reveal more details on its next vehicle platform called the NP2, according to Bank of America.

Pricing and details are not available yet on the new platform, but autonomous driving (level 4 driver assistance system) is seen being a key highlight of the product.

In a meeting with BofA analysts, Nio execs said the company expects vehicle gross margin to reach 15-20% over the long term.
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