CNBC's Jim Cramer on NIO: I admit that I was late to the party

CNBC's "Mad Money" host Jim Cramer said Chinese electric vehicle (EV) maker NIO (NYSE: NIO) did take off and he admits that he was late to the party.

In the show on November 2, Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

Comment on NIO, he said:

This thing did take off. I admit that I was late to the party on this one. ... And I think it does go higher.

In an October 15 show, Cramer said he recognizes NIO has been a hot one and "I'm not going to stick my neck out, but I'm not going to fight you if you like NIO."

CNBC's Jim Cramer: I'm not going to fight you if you like NIO

Regarding the recent big surge of Chinese electric vehicle (EV) maker NIO (NYSE: NIO), he said in the October 15 show:

Oh my god, NIO. OK, so NIO was down ... it's been a straight line up. NIO is the Tesla of China. I've been recommending Alibaba, that's been my Chinese play.

But I recognize NIO has been a hot one. I'm not going to stick my neck out, but I'm not going to fight you if you like NIO.

NIO shares went up by about 9 percent to trade at $33.32 as of market close on Monday.

Behind the 10-fold spike in NIO's stock price