Demand in the electric vehicles (EV) market has been resilient so far this year despite macroeconomic headwinds. However, the margins of EV makers are under pressure due to increased competition. While the long-term growth potential of the EV market seems attractive due to the growing adoption of EVs and government incentives, automakers might face short-term headwinds due to high interest rates and intense rivalry. With this backdrop in mind, we used TipRanks’ Stock Comparison Tool to place Nio (NYSE:NIO), Tesla (NASDAQ:TSLA), and BYD (OTCMKTS:BYDDY) (BYDDF) against each other to find the most attractive EV stock as per Wall Street analysts.
Nio (NYSE:NIO)
Macro pressures, intense competition in the Chinese EV market, and price cuts weighed on Nio’s performance in the first half of the year.
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