Chinese automotive company Nio Inc. (NYSE: NIO) has raised more than $5 billion in investor capital so far, and its stock is one of the most searched on Zacks.com. Despite these positive moves, Nio shares had a -20.1% return during the past four weeks compared to the +1.6% gain seen by the Zacks S&P 500 Composite. The Zacks Automotive–Foreign industry category where the company’s shares are listed also saw a 1.2% gain over the same period.

Although it didn’t pioneer the idea of battery swapping as an alternative to charging battery electric vehicles (BEVs), Chinese electric vehicle company Nio was the first major company to roll out battery swapping stations alongside regular charging stations. With more than 2,300 installed…

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