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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 457.82+1.3%Jan 23 4:00 PM EST
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To: TobagoJack who wrote (177841)9/7/2021 7:30:36 AM
From: Julius Wong  Read Replies (1) of 219715
 
NIO Stock Finds Saving Grace in Lotus Partnership

Things could’ve been much worse for NIO stock today, but some optimistic news is softening the blows. The company is signing an investment pact with British sport automaker Lotus. The deal is preceding a huge change to the Lotus business model, and through the partnership, the automakers plan to make Lotus’ entire vehicle fleet all-electric.

The deal saw a $2.3 billion funding round led by Nio’s investment arm, Nio Capital. Through the deal, four new Lotus vehicles will hit the market, beginning next year and going through 2026. The companies will produce these cars at a joint development facility in Wuhan; another facility in China will supplement production, making 150,000 vehicles per year.

This news presents a great future for Lotus, and, if all is successful, it will be a highly lucrative investment by Nio. The deal stands to rocket Lotus ahead of companies like Porsche and Ferrari (NYSE: RACE), who are lagging behind on the switch to an all-electric fleet. As it stands now, Ferrari is promising just its first all-electric vehicle by 2025. Meanwhile, Porsche’s goal is to electrify 80% of its offerings by 2030 — this 80% including hybrid vehicles.

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