NIO’s Hong Kong, Singapore shares hit new highs as outlook brightens

NIO’s shares in Hong Kong and Singapore have climbed to fresh record highs as the global outlook for electric-vehicle demand brightens.
The electric-car manufacturer’s Singapore-listed shares NIO, +2.90% gained 4.1% to US $24.77 while its Hong Kong stock 9866, +2.65% rose 4.3% to 196.60 Hong Kong dollars (US$25.05), both new highs.
How do analysts say:
The moves come amid expectations that global EV demand is set to rise, with analysts from Nomura projecting growth of 32% a year through to 2025. Sales in China “should be underpinned by price-competitive, technologically advanced, and attractively-designed EV models,” they said in a note.
U.S. and European sales are also set to get a boost from increasing consumer preferences for low-emission vehicles and mounting regulatory pressure to cut carbon emissions, the analysts said.
Prices for the raw materials needed to make vehicle batteries — like lithium, cobalt and nickel–also look set to decline from 2023 amid greater supply, which should ease cost pressures for companies like NIO, they added.
$NIO Inc. USD OV (NIO.SG)$ $NIO Inc (NIO.US)$ $NIO-SW (09866.HK)$