As of the closing time of US stocks on Tuesday, October 27, the share price of Chinese electric car manufacturer NIO
rose 9.34% to USD 28.44, pushing the company's market value to USD 38.36 billion.
The share prices of NIO and several other electric car manufacturers were hit hard by the market sell-off the day before (Monday). Investors appeared to be selling high-volatility stocks because of the new spate of COVID-19 cases.
But NIO went the other way. Unlike other companies that have been hit by market fluctuations, NIO only sells cars in China. In addition, the company's latest sporty high-end EC6 electric crossover began shipping in September this year and is expected to boost the number in the upcoming financial report.
The EV upstart is expected to announce strong Q3 2020 results in November.
NIO company delivered 4708 cars in September setting a new monthly record, up by 133.2% year-on-year. Among them, 3210 ES6’s were sold, ES8 1482 ES8’s and 16 EC6’s.
The company previously predicted that its vehicle deliveries would reach 11,000-11,500 vehicles in the third quarter, an increase of approximately 129.2% to 139.6% year-on-year, and an increase of approximately 6.5% to 11.3% from the previous quarter.