12 Best Penny Stocks to Invest in According to the Media

7. NIO Inc. (NYSE:NIO)

Share Price (As of January 3): $4.63

Number of Hedge Fund Holders: 20

NIO Inc. (NYSE:NIO) is one of the leading Chinese EV makers. The company specializes in premium smart EVs and is known for its battery-swapping technology and Battery-as-a-service (BaaS) model. The company’s well-known EV models sold in the market include ES8, ES6, EC6, and ET7.

The company’s financial performance is improving. During Q3 2024, NIO Inc.’s (NYSE:NIO) vehicle margin rose to 13.1%, up from 11% in Q3 2023, which reflects better component costs and operational efficiencies. During the third quarter, NIO achieved a quarterly record with 61,855 vehicle deliveries, marking an 11.6% growth year-over-year. The NIO brand alone accounted for 61,023 deliveries, maintaining its battery electric vehicle market share of 48%. NIO recently launched its mass-market brand ONVO, which has begun selling vehicles and targets the mainstream family market.

NIO Inc. (NYSE:NIO) plans to begin the production of its flagship model, the ET9, in March 2025. This vehicle is expected to reinforce NIO’s premium image and attract more customers. NIO Inc.’s improved financial outcomes and focus on profitability make it a promising EV stock. To learn more about small-cap EV stocks, you can visit 11 Small-Cap EV Stocks to Invest In.