Today, some pretty intriguing news about Nio (NYSE:NIO) has sent shares of NIO stock nearly 4% higher.
It appears the Chinese car maker has a surprise for investors, registering a new trademark for a model called the EF9.
Here’s what investors will want to know about the EF9 model.
NIO Stock Soaring on EF9 Anticipation
Today’s announcement of Nio’s EF9 trademark registration with the China National Intellectual Property Administration is certainly intriguing. Generally speaking, trademark registrations don’t really get this much hype.
However, it appears there’s actually good reason for this hype.
According to some reports, the EF9 model could be a high-end supercar. Indeed, that’s an interesting development. There’s expectations this supercar could rival the Toyota (NYSE:TM) Alpha or Lexus LM. That said, not much is known at this present time. Speculators are doing what they do best with NIO stock, and it appears right now, the sky is the limit.
The Bottom Line
EV stocks have already been bid up today due to very bullish news coming out of the U.S. For Chinese companies like Nio, this news is perhaps less relevant. That said, Nio has expressed interest in international expansion, with plans to enter Europe, followed by the U.S.
President Joe Biden’s $2 trillion infrastructure spending plan includes a massive investment of $174 billion into the U.S. EV market to help accelerate growth. The Biden administration acknowledges how far China is ahead in the EV race, and wants the U.S. to catch up. Accordingly, his administration is hopeful that half a million EV chargers could be installed over the course of this decade.
Now, EV infrastructure globally has been a key headwind facing EV investors of late. This announcement, while impacting mostly U.S. stocks right now, does provide a nice pathway for growth for the sector.
This announcement, combined with Nio’s impressive product lineup, appear to be enough fuel for this stock right now.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.