After riding a large wave of momentum in recent months, electric vehicle (EV) stocks are taking a breather. Indeed, shares of popular EV names like Nio (NYSE:NIO), Rivian Automotive (NASDAQ:RIVN) and Lucid Motors (NASDAQ:LCID) have all declined more than 20% the past month. However, the much anticipated Nio Day 2021 begins tomorrow. Investors are expecting big announcements that could potentially turn around the recent poor price momentum of NIO stock in particular.
So, what else has been going on with NIO stock lately?
Well, tensions between the U.S. and China have been hurting NIO stock as well. Investors are concerned that a delisting of Nio could potentially be in the cards. Earlier this year, Reuters announced that Nio had a contingency plan that could see shares of NIO stock listed on the Hong Kong Stock Exchange in the event of a delisting.
Currently, fans of NIO stock are counting down the hours until Nio Day. Let’s take a deeper look into what investors should expect.
NIO Stock: What to Expect From Nio Day 2021
- The event will kick off at 6 a.m. Eastern time and conclude at 7:30 a.m. The early time is due to the show’s location in Suzhou, China.
- Nio will unveil a new EV model that will reportedly compete with Tesla’s (NASDAQ:TSLA) Model 3 and BMW’s (OTCMKTS:BMWYY) 3 Series.
- The new model is rumored to be called the ET5, which will be a smaller version of the ET7 sedan. Deutsche Bank analyst Edison Yu expects the EV to be Nio’s most affordable vehicle, with an estimated price tag of $46,000. For comparison, Nio’s least expensive model currently sells for around $55,000. Yu estimates that the ET5 will add 65,000 deliveries to Nio’s plate by 2023.
- Nio is also expected to debut another mystery EV vehicle. Yu believes the EV could be similar to the Toyota (NYSE:TM) Alphard, which is a luxury multi-purpose vehicle that sold 20,000 units in China last year.
- Additionally, the Chinese EV company recently filed a trademark for the name EF9. This led investors to speculate that the mystery EV could be a convertible version of the EP9.
- Furthermore, investors are expecting updates on hybrid solid-state batteries, delivery times and availability in European countries, and the Nio Technology Platform 2.0. Three vehicles will be added to the Nio Technology Platform 2.0, one of them being the ET7. However, the remaining two are unknown.
- Finally, CEO William Li confirmed earlier this year that Nio was working on a new vehicle brand. Li explained that “the relationship between Nio and our new mass-market brand will be like that of Audi-Volkswagen and Lexus-Toyota.”
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.