Nio Delivered 37,705 EVs in May and Is Making Its Own Chips Now. Can It Compete With BYD at Scale?
The beaten-down automaker's revenue is soaring, but its share price isn't.
Nio Delivered 37,705 EVs in May and Is Making Its Own Chips Now. Can It Compete With BYD at Scale?
Overview
Investors in Chinese electric vehicle (EV) maker Nio (NYSE: NIO) have a right to be skeptical of the company. Over the last five years, the stock has lost 87.5% of its value, and it is now trading at less than $6 a share.
That said, the company has aggressively retooled its growth strategy and is now boasting new models, record deliveries, and solid revenue growth.
Details
But is it enough? Can this longtime underperformer finally break out of its slump and challenge rival BYD for dominance?
Source
Originally published at www.fool.com.
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