The Electric Vehicle companies have been the highlight this year. Elon Musk is leading the EV industry and guiding the future to its new phase.
The Electric Vehicle market is growing at an unparalleled speed and there no stopping for the EVs to rule the future automobile world. Elon Musk, who is the pioneer of the EV industry has set high standards that have shaped a new cutting-edge technology driving the cars.
More and more investors are heavily investing in EV stocks. The hype created in the electric vehicle market has reached its peak. With high expectations from EVs, the future holds many mysteries.
Recently, the most buzzing EV maker in the market has been Nio (NIO) for the past couple of months. Also, Xpeng (XPENG), another Chinese EV maker has been a highlight in the stock market. Whereas, Tesla (TSLA) as usual is on the leading front.
Let’s have a look at each of these companies’ accomplishments and what they have been doing in the recent past.
One of China’s leading automakers, Nio (NIO) has had a good time this year—investors have kept their eyes on NIO stock. However, in recent weeks, the stock has lost a bit of momentum. But, there’s much more coming Nio’s way in the new year.
Nio is ready with a new delivery update due in early January and the annual Nio Day scheduled for January 9, 2021. In past annual day events, the company has launched new products and various services, which has helped the stock to make strong moves.
Nio is also going to announce its first sedan along with few other launches at the new year event. It’s expected that the new sedan will have a coupe design like the Audi A7. This will be Nio’s fourth mass-produced model that will make it to the market. Moreover, the company could also begin the mass manufacturing of this model by Q4 2021.
Also, Nio has signed an agreement with State Grid EV Service, a Chinese unit of state-owned electricity distributor. With this deal, Nio (NIO) is anticipated to build 100 stations across China by 2021.
So, things look prosperous for the EV maker as we head into the new year.
Another Chinese Electric-vehicle maker that just went public in the summer this year, XPeng (XPEV) has gone live in Europe. The company has delivered its first 100 vehicles to Europe. This a big achievement for the Chinese company to expand its ecosystem across the globe.
Since its listing in August, XPeng has made a lot of buzz in the EV market. However, the stock is trading on a downside for the past few weeks. Though, the company has much more to prove as we head into the new year.
XPeng will be offering its vehicles in Norway, its first market outside China. Moving out of its home country is a big achievement for the EV maker. Customers in more than 28 cities across Norway will get their G3 SUV. Almost 100 G3 sports models will be sent to the customers. The model starts at an initial price of $41,000.
The company is expected to enter more countries in Europe. But, before the EV maker steps foot in the other new markets, the company will take time to decide where to head next.
The President of XPeng, Brian Gu believes that if they want to become a successful EV company, they would have to become a global brand.
Tesla (TSLA) is driving the EV market at the moment. But there are new automakers in the market that will give a tough time to Musk’s automaker. Tesla has a market cap of almost $630 billion which is more than many of the leading car companies includingVolkswagen, Toyota, Nissan, Hyundai, GM, Ford, Honda, Fiat Chrysler, and Peugeot.
Recently, Tesla announced that it is about to enter the world’s second-most populated market next year. On Monday, an Indian minister said that Tesla will begin its operations in India in early 2021.
It is anticipated that Tesla will begin its operations with sales of its EVs in the next year. The automaker has plans to initiate manufacturing and assembling of its vehicles in the country.
Moreover, Tesla is also set to join the prestigious S&P 500. The automaker has become a big fish in the stock market. This new addition will drive more investors towards Musk’s company.
The growing demand for electric vehicles is driving new economies into the EV market. The competition is intense but all the EV makers have high upside potential as the market keeps on growing each year.