reiterated its Buy rating and $70 12-month price target on NIO.
Yu's team expects that deliveries of the NIO ET5 could be just about 9,000 units next year, with that number expected to rise to 65,000 in 2023 as capacity ramps up.
Beside the ET5, the team believes that NIO may also be working on a sporty coupe, either a variant of the ET5 or possibly a separate model.
Yu's team believes the ET7 should sell well and that orders may already be as high as 50,000-60,000.
The team predicts ET7 deliveries of 30,000 units next year, limited by supply, and then doubling to 60,000 units in 2023. For context, the BMW 5 Series, Audi A6L and Mercedes E-Class all sell well over 100,000 units a year in China.
cnevpost.com/2021/12/20/...erially-expand-nios-vehicle-reach/