11 Best EV Charging Stocks To Invest In

4. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Holders: 20

NIO Inc. (NYSE:NIO), a prominent EV manufacturer in China, is driving growth through substantial investments in charging infrastructure and innovative technologies. The company operates one of the largest public charging networks among Chinese car manufacturers, with over 2,000 supercharging and destination charging stations across China. It is one of the best EV charging stocks to invest in.

The extensive network is not just for its vehicles. Through partnerships with other automakers like Huawei’s Harmony Intelligent Mobility Alliance, Chery, Jetour, Geely, Jiyue, Polestar, and Hongqi, the company’s charging facilities are accessible to a broader range of EVs. The approach enhances its market visibility and boosts revenue by increasing the use of its charging stations, with more than 80% of current users driving non-NIO vehicles.

The company’s innovation extends beyond charging with its Power Swap technology. The system allows drivers to swap out depleted batteries for fully charged ones in just three minutes at designated stations.

With nearly 4,000 Power Charger Stations, 23,256 chargers, and connections to over 1.6 million third-party chargers, it has conducted over 51 million battery swaps. The company has also established 78 Power Journeys routes in China and two in Europe, which makes its technology more accessible to international customers.

As of September, NIO (NYSE:NIO) had 2,552 battery swap stations in China, including 837 situated along highways. The company plans to expand this network to cover over 2,300 counties by the end of 2025. Additionally, a recent partnership with Suzhou Energy Group, a state-owned Chinese enterprise, will support the growth of the company’s charging and battery swap infrastructure, virtual power plants, and zero-carbon stations.

In the second quarter, the company reported revenues of RMB 17,446.0 million (1 RMB = US$0.14 as of September 9), a significant increase of nearly 99% year-over-year and 76% from the previous quarter. Vehicle deliveries also surged, reaching 57,373 units, which is nearly 144% higher compared to the same period last year and almost 91% higher than the first quarter of 2024.

In the second quarter, 20 hedge funds held positions in NIO (NYSE:NIO) worth $82.117 million. As of Q2, Point72 Asset Management is the most dominant shareholder in the company and has a position worth $26.89 million.