Skip to main content

Nio Is the Next Tesla, Jim Cramer Says

Author:
Publish date:
Video Duration:
1:16

Could Nio  (NIO) - Get NIO Inc. (China) Report be the next Tesla? Tesla was TheStreet's stock of the year in 2020 after its unprecedented rise in the past year. 

"In all the excitement generated by Tesla (TSLA) the stock, we often seem to forget about Tesla the company and what it stands for. Elon Musk has a vision and that vision is to make a car that doesn't destroy the environment. He has had this market pretty much to himself for several years and, like a Netflix (NFLX) or an Amazon (AMZN), the company's sales hit a level of scale that allows Tesla to fund its business at very inexpensive levels in the stock market through incredibly eager buyers. In this case, Tesla's doing it with stock sales -- $5 billion at the market right now, second tranche by the way," Jim Cramer wrote in his column for Real Money.

"Now, though it has a challenger, NIO (NIO), the Chinese company that unveiled a new electric vehicle luxury sedan this very weekend that people are going gaga about. Its got tons of features, including an Nvidia (NVDA) based self-driving solution. Lots of bells and whistles that could rival Tesla in the electric vehicle market," he continued. 

Watch: Everything Jim Cramer Is Watching in the Stock Market Monday

Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Related Videos