Evil Knievil: NIO now

Saturday’s Times covered NIO, a Chinese manufacturer of electric cars. The main product sells for £60,000 and goes from 0 to 60 mph in 3.9 seconds which is ideal for when one is returning from the boozer to one’s baked beans on toast. The batteries go 50% further than Tesla’s product and take much less time to recharge. Tesla’s share price surely faces competition.

But NIO is capitalised at $100bn as against Tesla’s $800bn and cannot be a buy at its current $60 (up from $2 in ten months). The solution is to short both these absurd valuations. IG and others will give you a price.