Shares of Chinese language electric-vehicle maker NIO (NYSE:NIO) had been buying and selling decrease on Wednesday, amid broad market turbulence affecting shares of many electrical automobile makers and different rising know-how corporations.
As of 10:30 a.m. EDT, NIO’s American depositary shares had been down about 4.8% from Tuesday’s closing value.
There was no main information driving NIO’s shares decrease — or main information of any sort that was instantly associated to NIO or its inventory. The corporate did share some minor information, but it surely appears optimistic: As of three:16 a.m. native time, a NIO battery-swap station in Suzhou (simply west of Shanghai) accomplished the corporate’s 2 millionth battery swap.
NIO mentioned that its community of over 200 battery-swap stations — which mechanically swap a NIO’s battery pack for a totally charged one — now full a swap about as soon as each 10 seconds, on common.
It is not enormous information, and it is definitely not what’s shifting the inventory in the present day. However now you recognize.
That seconds-between-battery-swaps quantity may effectively fall over the following a number of months, as NIO begins deploying its new “second-generation” battery-swap stations. The brand new stations can retailer extra battery packs and full swaps extra rapidly than the present items, and so they value much less to construct, NIO mentioned earlier this month.
NIO confirmed on Wednesday that it expects the primary of these second-generation stations to be up and working in mid-April.
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