- China-based electric vehicle company NIO Inc. (NYSE: NIO) has announced a delivery update for November 2020. These are the details.
China-based electric vehicle company NIO Inc. (NYSE: NIO) has announced a delivery update for November 2020. The company delivered 5,291 vehicles last month, up 109.3% year-over-year. This means NIO has delivered 36,721 vehicles in 2020 in total, increasing by 111.1% year-over-year. The cumulative deliveries of ES8, ES6, and EC6 was 68,634 as of November 30, 2020.
Specifically, the deliveries consisted of 1,387 ES8s (6-seater and 7-seater flagship premium smart electric SUV), 2,386 ES6s (5-seater high-performance premium smart electric SUV), and 1,518 EC6s (5-seater premium electric coupe SUV).
Earlier this week, NIO received a price target upgrade from $7.70 to $59 by Goldman Sachs. And Goldman Sachs analyst Fei Fang also upgraded the rating to Neutral from Sell.
Disclosure: I have a small NIO position in my stock portfolio.