Nio's Record Run Continues As Deliveries Spike 121% In December

Nio's domestic rival Li Auto Inc. LI 0.79% reported Friday monthly deliveries of 6,126 Li ONEs, representing a 31.9% month-over-month increase and a 529.6% year-over-year gain.

Tesla, which reports numbers by quarter but not by month, said its fourth-quarter deliveries came in at 180,570, up 29.6% quarter-over-quarter and 61.2% higher than a year ago.

What's Next

The 2020 Nio Day scheduled for Jan. 9 is the next upcoming catalyst for the EV maker.

Nio confirmed that at the fourth Nio Day it will launch a new sedan model, while also sharing the latest developments in autonomous driving and other core technologies.

"Aspired by the spirit of 'Always Forward,' the theme of the upcoming NIO Day, we will continue investing in the smart EV technologies, accelerating our new products development, broadening our sales and service network, and striving for the best holistic experiences for our growing user community in 2021 and beyond," Nio said.

Price Action 

Nio shares, which hit an all-time high of $57.20 on Nov. 24, have pulled back since then amid fears of unsustainable valuation and a regulatory clampdown in China.

The stock has managed to regain some of its lost momentum in the past couple of sessions.

The deliveries update could lend support to the upside in the run up to the Jan. 9th Nio Day.

Thursday, the stock closed at $48.74, up 0.74%.

Photo courtesy Nio

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