Nio

Rumors that have been going on for nearly a year have finally come true, as Chinese electric car company Nio has officially announced that it will enter overseas markets, with Norway as its first stop.

Nio has always touted itself as a user-centric company, so it would make sense to innovate on user rights, and blockchain technology provides a good direction.

In the first half of 2020, Nio became CATL's largest customer as its shipments continued to rise.

Nio will start delivering vehicles in Norway this September, with the first model being the new ES8. Nio's flagship electric sedan, the ET7, will arrive in Norway next year.

Deutsche Bank analyst Edison Yu's team raises Nio's gross margin forecast by 250bps to 20.3 percent, leading to a higher EPS estimate.

USTC's research strength in China is almost comparable to that of Tsinghua University and Peking University. The university is located in Hefei, Anhui Province, which is also home to Nio China's headquarters and the JAC Nio facility.

Nio delivered 7,102 vehicles in April, down 2 percent from March, as chip shortages put constraints on its production capacity. The figure was up 125.1 percent from a year ago.

JP Morgan reiterated its Overweight rating on Nio and its $70 price target, about 80 percent above the stock's Thursday close of $38.99.

William Li is confident about Nio's position in the market, saying that in the high-end market there is no brand that can compete fully with Nio, including products, services, and user communities.

Despite continued supply chain challenges, chip and battery supply shortages don't appear to be affecting Nio as badly as expected, as the Chinese electric car company continues to give strong second-quarter delivery guidance.