11 Best Lithium and Battery Stocks To Invest In

6. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Holders: 20

NIO Inc. (NYSE:NIO), a leading electric vehicle company, focuses on premium smart EVs and is known for its battery swapping technology and Battery as a Service (BaaS) model, which offers flexible battery subscription options. The company also recently launched its mass-market brand ONVO, which started selling vehicles in September 2024. Its vehicles include features like battery swapping and support for various battery ranges.

In 2023, NIO launched a 150 kWh semi-solid-state battery, increasing the driving range of its vehicles to about 930 kilometers (578 miles) per charge, outperforming traditional lithium-ion batteries. As of the third quarter of 2024, the company reported having 2,737 global power swap stations, including 887 on highways, providing over 58 million swaps for NIO and ONVO users. Additionally, more than 24,000 power and destination chargers are operational. The company is expanding internationally, opening its first NIO House in the MENA region and sales and deliveries are underway in the UAE. Next year, NIO aims to accelerate global growth with products from ONVO and Firefly.

As reported by TipRanks on December 3, DBS analyst Rachel Miu views the company’s expansion to increase market reach in a positive light. The analyst maintained a Buy rating on NIO (NYSE:NIO) with an HK$58.00 (HK$1 = US$0.13) price target.