Electric vehicle company Nio can rally 50%, says HSBC as it upgrades the stock

Nio plans to begin deliveries of its ET7 electric sedan in 2022.
Evelyn Cheng | CNBC

Chinese automaker Nio stands to benefit from strong electric vehicle demand growth, which should push the stock higher, HSBC said Friday as it upgraded the company to a buy rating.

More In Future of Energy

CNBC ProSunPower's slide is a buying opportunity, Evercore ISI says in bullish initiation of coverage
CNBC ProStruggling solar energy play Enphase Energy is set to rebound, KeyBanc says
CNBC ProHow to play the next big trend in ESG investing: green data centers