Nio Limited, the largest electric car manufacturer in China, struggled initially at the beginning of the year to pay its workers and sustain its employees. But this did not deter the Company’s market capitalization from approaching $100 billion, and its share price has increased by more than 1,400% in the past 12 months.
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The launch of a new car NIO ET7 has been announced by the Company’s representatives recently. Price-wise, the model has a starting price of 448 thousand yuan, approximately US $69000. It is capable of driving more than 500 kilometers on its 70 kWh battery. Experts also note that the sedan can accelerate from zero to 100 km/h in 3.9 seconds thanks to two batteries on the front axle-power 245 horsepower. On the rear axle power 408 horsepower.
Car deliveries are expected to begin as early as the first quarter of 2022. A car such as the NIO ET7 is far from being a budget car. However, it costs more than the china made Model 3 which is selling at 265 000 Yuan, which is not subject to government incentives but is cheaper than the imported Tesla Model 3 which costs around 734000 Yuan.
The Company’s management is active in taking advantage of the current market situation and regularly attracts more capital. On Monday, when the stocks reached all-time highs, another funding round was announced through convertible bonds totaling $1.3 billion for the period up to 2026 and 2027. Additionally, NIO plans to exchange existing securities for shares until 2024, which will further dilute investors’ shares.
Although the shares of Nio Limited (NIO) look exceptionally expensive, especially when compared to Ford and General Motors, investors appear to have faith in NIO’s ability to continue to grow.