12 Biggest Lithium Stocks to Buy According to Hedge Funds

6. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Holders: 20

Chinese automaker NIO Inc. (NYSE:NIO) is focused on producing high-end smart electric vehicles. One of the company’s most standout features is its battery-swapping technology, which allows drivers to quickly replace depleted batteries with fully charged ones at designated stations.

NIO Inc.’s (NYSE:NIO) vehicle margin increased from 11% in Q3 2023 to 13.1% in Q3 2024 on account of lower component costs and greater operational efficiency. The company set a quarterly record of 61,855 vehicle deliveries in the third quarter, up 11.6% year-over-year. In addition, with 61,023 deliveries, the NIO brand maintained its 48% market share for battery electric vehicles.

Earlier in December of last year, Citi expressed confidence in NIO Inc.’s (NYSE:NIO) financial goals for the coming years, reaffirming its buy rating and $8.90 price target. NIO’s sales targets for 2025 include a 10-to-20% increase in NIO brand sales YoY. By March 2025, 20,000 units of the Onvo brand’s L60 model are expected to be sold, with the segment’s monthly sales expected to increase by 30,000 to 50,000 units following the introduction of two new SUVs in the second half of 2025.