Three major EV competitors to NIO

In July 2021, Lucid Motors began trading publicly as a result of a SPAC merger with Churchill Capital IV

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It currently has the ticker LCID and trades on the NASDAQ. It was established in 2007 as Aviera, a business that created EV batteries and powertrains for automakers

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Market capitalization of over $25 billion indicates a reasonably promising future for Lucid

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The leader in the EV industry is Tesla (NASDAQ: TSLA). Despite its fair share of detractors, the corporation consistently seems to outperform expectations

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The EV behemoth posted Q2 2022 earnings of $2.27 per share and adjusted earnings of $16.93 billion.

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It has accomplished all of this despite a number of setbacks over the past year, including Elon Musk's distracting antics around his planned acquisition of Twitter

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Another Chinese manufacturer of EVs is Xpeng Xiaopeng Motors (NYSE: XPEV). It is an opponent of both Tesla and NIO

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It is currently working in the same two nations, China and Norway, for NIO in particular. This is a fantastic entry point into the European Market for both of these businesses

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The G3 SUV and the P7 Sedan, which are both eerily similar to Tesla's Model Y and Model 3 Sedan, respectively, have both been built by the company since 2018

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Previously, this southern Chinese EV manufacturer operated a subsidiary and held a licence in California to conduct our self-driving experiments on its vehicles

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