Nio Rallies As EV Maker Confirms Dec. 18 'Nio Day' Event Themed 'Hello World'

Nio Inc - ADR NIO shares, which on Friday tumbled to their lowest level since mid-May, have been on the mend. After a modest gain Monday, the stock's rally has picked up the pace.

What Happened: One of Nio's biggest catalytic events — "The Nio Day 2021" — will be Dec. 18, the Chinese EV startup confirmed in an emailed statement.

The itinerary was announced by the company on the Nio app in mid-October. Suzhou, a city located west of Shanghai and is close to Zhejiang and Jiangsu provinces, reportedly has a large number of Nio users and was chosen as this year's location following voting by Nio users on the company's app.

Tuesday's confirmation comes in the wake of the COVID-19 omicron variant threat that has emerged in the interim.

The event is scheduled to start at 7 p.m. Beijing time and will go on until 8:30 pm.

Nio said in the statement the theme of the 2021 annual event will be "Hello World," which signifies reacting to the ever-changing world with an "open and inclusive" mind. The company also said the event will feature the latest news on its product roadmap.

Related Link: Nio Analyst Sees This One Catalyst Driving Growth, Ups Price Target

Why It's Important: Nio investors are looking ahead to the event as one that can help reverse the fortunes of the shares that have been languishing for the most part of the year.

It was the announcements made at the Nio Day 2020, held on Jan. 9 this year due to the COVID-19 pandemic, that drove the shares to their all-time high of $66.99 on Jan. 11.

This time around, Nio investors may be keen to get a confirmation on the launch schedule for the ET7 sedan. The company had previously given a timeline of early 2022.

With the company confirming it will have three new models in 2022, it is widely expected it will likely unveil the models at the event. A mid-size sedan that could compete against Tesla Inc.'s TSLA Model 3 could make its appearance.

The company has also hinted in the past that it might launch a mass-market vehicle under a different brand name.

NIO Price Action: Nio shares were rising 2.01% to $33 Tuesday afternoon at publication.

Related Link: Nio Stock Falls To Pattern Support: What's Next?

Photo: ET7 via Nio