Nio Day Set For Jan. 9: What You Need To Know
Nio Inc – ADR (NYSE: NIO) shares, which have seen a loss of momentum in recent weeks, are nicely set up for the new year with a delivery update due in early January and the annual Nio Dayscheduled for Jan. 9.
What Happened: The annual Nio Day event in the past has served as a platform for new product and service launches and catalyzed strong stock moves.
An invite Nio shared with Benzinga includes some information that's already public, including the venue, a generic itinerary and the event's theme.
The Nio Day, which is customarily a year-end event, was pushed back to 2021. It will be held at Wuliangye Chengdu Performing Arts Center with the theme of "Always Forward."
Related Link: Wall Street Bullish On Nio Despite Recent Pullback: 'A Must-Own Growth Stock'
What To Expect: Nio is on track to announce a few launches at the event, including its first sedan. This would be the company's fourth mass-produced model, with speculations suggesting it will likely have a coupe design like the Audi A7.
It is also believed the company could start mass manufacturing the model by the fourth quarter of 2021.
Nio is expected to announce a 150 kilowatt-hour battery back that will likely increase the range of its EVs to over 900 kms.
The new pack is expected to be compatible with all existing Nio models.
An upgrade to Nio's advanced driver assistance system platform, named NT2.0, is also expected to be unveiled at the event. It will likely feature lidar technology.
The company will also announce its second-gen battery swap stations.
Why It's Important: Investor expectations in the run-up to the event could lift Nio's shares, which have been rangebound below the all-time highs reached on Nov. 24.
First up is the company's deliveries update for December, which is due in early January.
With Nio having deliveries 10,346 vehicles for the first two months of the fourth quarter, the company would need to deliver 6,654 vehicles in December to hit the high-end of its fourth-quarter guidance range of 16,500-17,000.
NIO Price Action: Nio shares were down 1.92% at $44.89 at last check Monday.
Related Link: BofA's Takeaways On Nio's 2021 Plans
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