Hyperdrive

China EV Maker Nio to Unveil New Sedan as Valuation Eclipses GM

Nio expected to introduce first sedan in China on Saturday
Shares surged 12-fold in 2020 as investors look for next Tesla

Nio ES6 electric sport-utility vehicle, right, and EP9 electric sports vehiclePhotographer: Qilai Shen/Bloomberg

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By Esha Dey

January 8, 2021 at 9:16 PM UTC

This article is for subscribers only.

The rally that has lifted the value of Chinese electric carmaker Nio Inc. to nearly the combined worth of auto behemoths General Motors Co. and Ford Motor Co. may get another boost as the company prepares to introduce its first-ever sedan on Saturday.

Nio shares soared more than 12-fold last year, and the stock added another 21% in the first week of 2021, amid a growing view that electric vehicles are the future of the auto industry and as Tesla Inc.’s valuation climbed to new heights.