10 High Growth Lithium Stocks to Invest In

4. NIO Inc. (NYSE:NIO)

5-Year Revenue CAGR: 51.18%

Average Price Target Upside: 11.80%

Number of Hedge Fund Holders: 20

One of the high-growth lithium stocks, NIO Inc. (NYSE:NIO) specializes in premium smart electric vehicles and is recognized for its battery swapping technology and Battery as a Service (BaaS) model, offering flexible battery subscription options. Its product lineup includes various SUVs and sedans, including the ET9, set for delivery in 2025.

Its vehicles feature innovations like battery swapping and compatibility with different battery ranges. The company operates in China and several European countries, with plans for further global expansion. It has research and development centers in key global locations. Its battery swapping allows quick battery changes and health assessments, while BaaS decouples battery costs from vehicle prices, which provides users with flexible battery upgrades.

In 2023, NIO (NYSE:NIO) introduced a 150 kWh semi-solid-state battery that extends the driving range of its vehicles to about 930 kilometers (578 miles) per charge, surpassing traditional lithium-ion batteries.

The new technology blends the high energy density of solid-state batteries with the practicality of lithium-ion, which improves vehicle performance. The upgradeable nature of the battery pack adds value for current NIO owners. The company is also developing other battery technologies, including 4680 cells and lithium manganese iron phosphate (LMFP) batteries, to further boost energy density and performance.

NIO (NYSE:NIO) announced its earnings in September where it reported record deliveries of 57,373 vehicles in Q2, a 144% increase year-over-over. The company has captured over 40% of China’s BEV market for models priced above RMB 300,000 (RMB 1 = US$ 0.14).

For the third quarter, it reported a record-high quarterly delivery of 61,855 vehicles, representing an 11.6% growth compared to the previous year. In September alone, the company delivered 21,181 vehicles, a 35.4% year-over-year increase. The deliveries included 20,349 vehicles from NIO’s (NYSE:NIO) premium smart electric vehicle brand and 832 from its family-oriented brand, ONVO. ONVO’s first model, the L60, a mid-size smart electric SUV, launched on September 19, with deliveries starting later that month. The company’s cumulative deliveries reached 598,875 as of September 30, 2024.