From Nasdaq.:



Chinese electric vehicle (EV) maker Nio made a splash by introducing the new “executive flagship” ET9 sedan at its annual Nio Day event. The four-seat sedan is aimed at the ultra-luxury vehicle market and is expected to compete with Porsche’s Panamera model and Mercedes-Benz’ luxury S trim. The ET9 will begin sales in early 2025 and is expected to be priced at around $112,000, making it more expensive than the Tesla Model S sedan. The introduction of the ET9 garnered investor approval, leading to a boost in Nio’s shares by almost 10%.

Investors also see a bigger impact beyond the limited market for the ET9, as Nio highlighted the in-house technology included in the vehicle, which can be transferred to its other vehicles. The company is yet to reach profitability but continues to ramp up production volume and has expanded beyond China to several European markets. Nio’s research and development spending has led to new leading technologies, and it is well-positioned to benefit from global growth for EVs, making it a potential stock to own in an aggressive part of a portfolio for long-term shareholders.

The Motley Fool Stock Advisor analyst team did not identify Nio as one of the 10 best stocks for investors to buy now, despite the company’s recent product introduction and potential for future growth.



Read more: Why Nio Stock Shot Higher Today