12 Best EV Stocks to Buy For Long Term Investment

10. NIO Inc. (NYSE:NIO)

On April 1, 2026, NIO Inc. (NYSE:NIO) reported March deliveries of 35,486 vehicles, up 136% year-over-year. The total included 22,490 vehicles from its Nio brand, 6,877 from Onvo, and 6,119 from its Firefly brand. For the first quarter of 2026, the company delivered 83,465 vehicles, representing a 98.3% year-over-year increase, bringing cumulative deliveries to 1,081,057 as of March 31.

Last month, HSBC upgraded Nio to Buy from Hold and raised its price target to $6.80 from $4.80, citing improved visibility and stronger conviction in the company’s 2026 volume growth and earnings trajectory following its Q4 report. HSBC highlighted new model launches and strength in the core portfolio, particularly the ES8, as drivers of volume growth, mix improvement, and margin expansion.

Similarly, Nomura upgraded Nio to Buy from Neutral with a $6.60 price target, noting the company’s improving business and financial performance over the past two quarters and suggesting it is entering a healthier operating cycle, while still projecting a 25% shipment CAGR from 2025 to 2028 despite trimming near-term shipment estimates.

NIO Inc. (NYSE:NIO) develops and sells smart electric vehicles globally.