Chinese EV startup showing strong growth potential with 141% revenue growth and solid financials

From Google: 2024-10-11 19:30:16

A Chinese EV startup is gaining attention as a potential growth stock to buy. The company’s revenue grew by 141% year over year. It has a strong gross margin of 19.8% and a solid balance sheet with $6.3 billion in cash. With increasing demand for EVs, this stock may offer good growth potential.

The EV startup has reported strong second-quarter earnings, with revenue reaching $1.31 billion. The company delivered 87,148 vehicles during the quarter, an increase of 153% year over year. Its gross margin improved to 19.8%, showing strong profitability. With a solid balance sheet and expanding market share, this stock could be a good buy.

Investors are eyeing the Chinese EV startup as a potential growth stock. The company has a market cap of $78.6 billion and $6.3 billion in cash. Its stock has been on a steady uptrend, gaining 58.9% in the past year. With strong revenue growth and improving margins, this stock may continue to climb.



Read more at Google: Is This Chinese EV Startup A Good Growth Stock To Buy Now? – Barchart