Nio (NIO) Shares Surge 10% to Yearly High Ahead of Q4 Earnings Release

Chinese electric vehicle giant Nio (NIO) saw its shares surge by as much as 10% on Tuesday morning, hitting a yearly high following the announcement of its upcoming earnings release.

Chinese electric vehicle giant Nio (NYSE:NIO) saw its shares rise by as much as 10% on Tuesday morning, hitting a yearly high. The stock surged after the company announced the upcoming release of its fourth-quarter and full-year financial results.

Investors will be closely examining the company’s performance as it pivots towards expansion into mass-market electric vehicles with two new brands.

Here’s a closer look at the key details:

* Nio is set to report its fourth-quarter and full-year 2024 earnings on Friday, March 21, before the market opens.

* The company is expected to report a loss of $0.30 per share from revenue of $3.35 billion, according to analysts polled by Bloomberg.

* In December 2024, Nio delivered a record-breaking number of EVs, exceeding 31,000 units sold.

* The company has already started sales of its Onvo brand, while its Firefly compact smart EV, priced at around $20,500, is now available for preorder.

* Firefly is the second brand launched by Nio this year as part of its broader plan to introduce more affordable EV models and compete effectively with Tesla (NASDAQ:TSLA) and BYD in the rapidly growing segment of vehicles priced under $30,000.

* Earlier this year, Nio announced a price cut for its flagship ES8, adjusting the starting price to 486,000 yuan ($70,000).

* As of the third quarter of 2024, Nio's vehicle sales climbed by 57% year-over-year, while its operating margin reached 13.1%, up from 9.2% in the first quarter.

* The company also expanded its partnership with BASF Coatings to enhance vehicle exterior coatings. The partnership, which includes annual dialogues on innovative solutions, aims for greater efficiency and further reductions in production costs.