A recent LinkedIn job posting by Nio triggers the speculation that the Chinese electric vehicle maker may be planning to enter the US market. However, according to one analyst who follows the company closely, it is still some time away from becoming a reality.
In a research sent to investors on Monday, Deutsche Bank analyst Edison Yu noted that Nio recently posted on LinkedIn a job listing for "Business plan – US market" suggesting its global ambitions are growing.
Nio is looking for someone to "formulate an action plan to enter the US market" which would still be several years away if it decides to move forward, the analyst said.
It's worth noting that Yu said they currently assume no contribution from US sales in their 2025 earnings forecast and reaffirmed his $70 price target on Nio, which means an 18.5 percent upside potential from Nio stock's closing price of $59.07 on Monday.
Yu added that in the near term, Nio's management is committed to launching European sales later this year and "we believe the first market will be Norway."
Additionally, Yu called investors attention that Nio previously unveiled its used car platform called "Nio Certified" and this news was largely overshadowed by the ET7 and hybrid solid state battery unveilings.
"In our view, this move is very telling about Nio's ultimate goal which is to create a close loop streamlined ecosystem for its users, similar to what Apple has done," Yu said.
Nio stock went up by 6.38 percent to close at $62.84 on Tuesday.
(Source: cnEVpost)
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