Great News for Nio's Massive Battery-Swapping Ambitions
(NYSE: NIO) has always been a fascinating stock to follow with its many ups and downs. The Chinese automaker is poised for strong growth on the back of launching two entirely new brands, Onvo and Firefly.
Nio is also intriguing for its decision to push battery-swap technology, which it offers at thousands of locations. The idea is foreign to many U.S. investors, but it's far more popular in China. Nio recently received some good news regarding its battery-swap ambitions -- here's what you need to know.
A battery swap is simply when someone with an appropriate vehicle drives a depleted battery into a swap station, and replaces it with a fully charged battery. Nio's newest vehicles can do this in roughly two-and-a-half minutes.
Source Fool.com
NIO Inc. Stock
€4.24
-1.740%
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A potential of -29.25%, resulting from comparing the current price of 4.24 € with the target price of 3 € for NIO Inc., shows the chance of incurring significant losses.
