r/nio
Nio Just Launched a Budget EV to Take On Tesla and BYD. Nio Stock Finally Worth Buying
Nio's new budget EV Onvo L80 undercuts Tesla Model Y by $2,400, backed by doubled vehicle margins and rapid delivery growth.
- New budget EV undercuts key competitors like Tesla Model Y on price.
- Vehicle margins nearly doubled year over year in Q1.
- Rapid delivery growth strengthens the bullish investment case.
Key Points
Nio's new budget EV undercuts Tesla's Model Y on price.
Its vehicle margins nearly doubled year over year in Q1.
Rapid delivery growth is strengthening the bullish case for Nio.
It's called the Onvo L80, and some would argue that it could give Tesla and BYD some real competition by undercutting the two on price.
Nio's (NYSE: NIO) budget electric SUV starts at around $36,000, which isn't the most affordable EV in China, but it competes on price with the Tesla Model Y, which is one of the top-selling electric SUVs in the Middle Kingdom. It clocks in at about $2,400 cheaper.
And in terms of quality, it far exceeds Tesla and BYD.
Onvo L60 is the one to compete with Tesla Model Y and BYD. Not Onvo L80. That is why they revamp the L60 with lidar and new features to improve the appear of it.
Yeah NIO and the Chinese EV sector in general are not doing to well very competitive, saturated, price wars, geo politics it’s a tough call, the issue is value investors don’t see a big growth catalyst, so that why it’s become more a traders stock ergo the volatility
I would hold rather than buy right now, it's been a pattern where one day is great after good news and then they dump the next. Its ass but it's happened so often it's something we should expect