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However, the EV industry came under pressure because of the semiconductors shortage. In addition, EV stocks have recently experienced a sell-off amid investors’ concerns regarding a new COVID-19 variant in South Africa. Which is why today we’re going to take a look at NIO Inc. (NIO) and Faraday Future Intelligent Electric Inc. (FFIE) to determine which EV stock is better to buy on the dip.
Founded in 2014, NIO develops, manufactures, and sells EVs in China, targeting the luxury electric SUVs segment. The company also offers an innovative subscription-based model for its batteries. Headquartered in Gardena, California, FFIE also engages in the development and selling of EVs and EV-related products in the U.S. and across the globe.
