With the launch of Nio’s first sedan, the ET7, spurring bullish investor sentiment, Nio rose 11 percent to more than $65 in the pre-market trading session.
If this rally continues until the US stock market opens, Nio’s market capitalization will exceed $100 billion for the first time.
By comparison, BMW’s latest market capitalization was 44.7 billion euros ($54.6 billion). This means that Nio’s market capitalization is about to become two times that of BMW.
In an interview with media including cnEVpost in Chengdu on January 10, William Li Bin, founder, chairman, and CEO of Nio, responded to the company’s share price surge in the past year.
He said that the movement of Nio’s share price is beyond the company’s control while admitting that there is still a gap between Nio and BMW.
“The reality we see is that right now Nio’s sales are less than 2 percent of BMW’s, and Nio is still a very small company. Capitalization is determined by the market and we can’t do much about it,” he said.
However, he also said that this is not a bad thing and represents the existence of very high expectations from investors for Nio, which can bring more pressure and forward momentum to the company.
