BMW has already agreed to pay $20 million to Solid Power through June 2024 as certain milestones are achieved. This will allow parallel research and development on solid-state batteries.Īs Solid Power deepens its partnership with BMW, financing expansion in the future is unlikely to be a concern. Recently, Solid Power licensed cell design and manufacturing process to BMW (OTCMKTS: BMWYY). There are however few potential catalysts for the year that can translate into a big rally. The company is still in the development stage for solid-state batteries. However, it seems that the worst is over for the stock. Solid Power (NASDAQ: SLDP) has been in correction mode through 2022. This provides ample flexibility for international expansion and investment in product development. Nio reported cash and equivalents of $7.2 billion as of Q3 2022. The company has already guided for break-even in its core business by Q4 2023. As vehicle deliveries accelerate, Nio is positioned for EBITDA margin expansion. This is another factor that’s likely to support deliveries growth.Īnother reason to be bullish is operating leverage. It’s also worth noting that the company has aggressive expansion plans in Europe. This will ensure that deliveries growth remains robust. With several positive catalysts for the current year, Nio stock is poised to double from current levels.įirst and foremost, Nio plans to launch five new models in 2023. On a year-on-year basis, deliveries surged by 50.8%. Amidst a surge in covid cases in China, Nio set a record with monthly delivery of 15,815 vehicles in December 2022. Nio (NYSE: NIO) is another stock under $10 that’s likely to double your money in 2023.
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