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[베이징=이데일리 신정은 특파원]Nio (NIO Weirai), which is known as the’Chinese version of Tesla’ and is highly praised in the stock market, announced that it will release an electric vehicle that can run 1000km on a single charge.
According to the Chinese observer network, Nio showed off the electric sedan’ET7′ at’Nio Day’ held in Chengdu, Sichuan Province, China on the 9th. Like Tesla’s’Battery Day’, Nio is opening Nio Day and revealing plans to launch a new car.
The ET7 is Nio’s fourth electric car model, and features a 150 kWh battery pack with a mileage of 1000 km. This is the longest mileage among electric vehicles currently on sale. Nio plans to build a service so that customers can drive immediately without charging through the battery exchange method.
Tesla’s Model S has a maximum range of 719 km, certified in China. Currently, a new model running 840km is being developed. Hyundai Motor Company has announced that it will release a model that can drive 500km or more with a single charge through the new electric vehicle platform’E-GMP’.
Also, the Nio ET7’s zero-back (100km/h from standstill) is only 3.9 seconds. The price was measured slightly higher, ranging from 448,000 yuan (about 76 million won) to 526,000 yuan (about 89 million won). The model 3, a Tesla sedan made at the factory in Shanghai, China, starts at 260,700 yuan.
The Nio ET7 is expected to go on sale in the first quarter of next year. Models with batteries with a mileage of 1000 km are expected to be released only in the fourth quarter.
With the launch of this new model, attention is paid to whether Nio’s share price will rise further. Nio, a Chinese electric vehicle startup established in November 2014, was listed on the New York Exchange in the U.S. in 2018.
Nio’s stock price, which was traded in the $3 range at the beginning of last year, soared to the current $50 level amid the electric car craze. In one year, it jumped over 2000% and exceeded the market cap of General Motors (GM). On the 8th, the last trading day, Nio closed at $58.92 per share on the New York Exchange, up 8.55% from the previous day.
Gary Brack, a Tesla investment expert, raised Nio’s target price to $65 after Nioday.
However, concerns over the bubble in the Nio share price continue to emerge. Although Nio has an excellent position in the Chinese electric vehicle market, the sales volume is about thousands of units per month. However, the stock price is more overvalued than Tesla.
According to Hana Financial Investment, Nio is currently trading at 34.1x the sales ratio (PSR) to the stock price for the preceding 12 months, which is higher than Tesla (22.2x).
Seung-Hye Baek, a researcher at Hana Financial Investment, analyzed that “the mid- to long-term growth potential can be evaluated positively, but the current stock price level may be burdensome considering’bubble concern’ and intensifying competition in the future.