5 Best EV Battery Stocks Under $10

2. Nio Inc. (NYSE:NIO)

Share Price as of April 5: $9.21
Number of Hedge Fund Holders: 25

Nio Inc. (NYSE:NIO) is a Chinese automobile manufacturer specializing in designing and developing premium electric vehicles (EVs). It also manufactures EV batteries as it seeks to grow an independent supply chain. Nio Inc. (NYSE:NIO) has also developed its own battery swapping and charging infrastructure to support its growing fleet of electric vehicles and has worked to integrate advanced charging and battery management systems into its vehicles.

As an EV battery market player, Nio Inc. (NYSE:NIO) enjoys greater control over the quality and performance of the batteries that power its vehicles. Also, the proprietary battery-swapping technology allows the company to carve a niche in the industry. Most importantly, Nio Inc. (NYSE:NIO) has a strong brand and customer loyalty, especially because it is among China’s EV market pioneers. Also, the company has strong financials, providing a robust background for the share price to take off.

The number of hedge funds tracked by Insider Monkey having stakes in Nio Inc. (NYSE:NIO) decreased to 25 in Q4 from 26 in the preceding quarter. These stakes hold a consolidated value of $379.68 million. Electron Capital Partners is a significant shareholder in the company, with 6.3 million shares valued at $61.45 million.