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All eyes are on Nio Inc (NYSE: NIO) today ahead of its communication session scheduled for 01:30 pm (Beijing time) on March 14^th.

Nio will upgrade its BaaS offering as well

The electric vehicles company is expected to share its strategy for long-life batteries on the event that will be live streamed on its mobile app.

Nio Inc. will also upgrade its battery as a service (BaaS) offering on Thursday. Its statement this morning reads:

 

Nio’s BaaS battery rental service is about to receive a full upgrade. We’re hosting this user communication session and would like to talk to you in detail about the tweak and thinking behind it.

The news arrives only days after $NIO reported a sequential increase in its quarterly loss. Nio stock is down about 30% for the year at writing.  

Is Nio stock worth buying today?

$NIO expects to deliver up to 33,000 vehicles in its current financial quarter versus Edison Yu – a Deutsche Bank analyst at around 25,000 only.

He, therefore, remains super bullish on Nio shares. His buy rating is coupled with a $9.0 price objective that suggests about a 50% upside from here.

A few years ago, Rivian, Lucid, and Fisker were successful competitors to Tesla, boasting significant market caps and optimistic prospects due to high investor interest. However, the current situation is much bleaker. The electric vehicle (EV) sector is experiencing a slowdown in…

— Shawn Ng (@RocKMaTiCoN) March 4, 2024

Yu’s view is in contrast with our market expert Crispus Nyaga who continues to see a possibility of a bearish breakout in Nio Inc as long as it’s trading below the $7.0 level.

The EV maker has recently started giving away Nio Phones for no additional cost to customers buying its 2024 model. The give away, as per the local media reports, will remain live for March only.

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