Nio (NIO) is something interesting right now. The stock is being pumped on some hope for the future.

60 Minutes turned its attention to the Chinese electric vehicle market in a detailed segment. Let us discuss what we saw:

The news show highlighted the massive support from the Chinese government for the electric vehicle industry, including the significant rebates and license waivers that help to prop up demand.

A lot of attention was paid to Nio, even though the EV upstart only delivered about 10K vehicles last year. Nio’s heavy focus on tech features and manufacturing innovation was profiled very favorably.

The point was made that Nio, just like the other dozens of Chinese EV manufacturers competing for market share, needs to convince consumers that it makes high quality cars.

Chinese automakers are also prepping to sell outside of their home turf. Nio is just one of about nine China-based automakers with operations on the West Coast of the U.S.

Investors have been bidding up select Chinese auto names. In the last month, Nio is up 23% and Kandi Technologies is 73% higher. NIO has had an interesting few months since its IPO:

Nio launched an IPO back in September 2018 to raise funds for its future growth. The company launched its first volume electric vehicle, the ES8 7-seat SUV, at a 2017 event, with deliveries starting in June 2018. In December of last year, it launched a five-seat SUV, the ES6, with deliveries forecast to start in the first half of this year.

Nio will announce its full Q4 results on March 5, but we do have somewhat of an idea of how things are going. The company delivered nearly 8,000 units in the final quarter of the year, crushing its vehicle guidance, and up nicely from the less than 3,300 units delivered during Q3. The company clearly beat its 10k unit goal for 2018.

On the upcoming earnings report, we should hear from the company not only on its 2019 guidance for the ES8, but how pre-orders for the lower-priced ES6 are faring. As a point of reference, the Street currently expects NIO to come in with roughly $2.5 billion in revenues this year, up from about $660 million in 2018

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