NIO Inc. (NIO, Financial) saw a 1.14% increase in its stock price, reaching $4.43. Analysts at DBS Bank, led by Rachel Miu, have a positive outlook on NIO's potential earnings growth. This optimism is driven by the anticipated rise in sales of the new Onvo L60 model and the company's accelerated overseas expansion.
The Onvo L60 model sold 832 units in its first month, and sales are expected to grow for the remainder of the year. Additionally, NIO's recent joint venture agreements to expand into the Middle East and North Africa are likely to further boost its sales performance.
