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NIO CEO says company prepared for market upheaval in 2025
- NIO founder, CEO and Chairman William Li says that the company is well prepared for the upheaval expected in 2025, when it anticipates a strong product cycle. He added that the recently launched NIO ET9 Sedan is able to pilot itself, even in adverse conditions thanks to lidar and “Shenji” soC systems. Also launched at the event was the NIO firefly micro EV, reflecting what Li claims is a unique mindset among automakers when it comes to delivering “best in class” safety. Improved battery life and increased functionality are also promised.
- NIO announced estimated 2021 deliveries in excess of 231k vehicles, with ambitions to break even in 2026. Among these deliveries, the new ET9 is priced at RMB 778k ($120,194), with deliveries scheduled to begin in 2022. More affordable units such as the ET7 and the European ET5 are expected in 2022, with European launch dates and specifics to be announced. With NIO shares up over 240% YTD, it’s one of China’s hottest stocks in what is an increasingly crowded EV market.
- NIO’s ambitious push east to Europe intensified last week when the Chinese automaker announced that it had signed an MOU with theme-park giant Rulantica to build a charging network for electric vehicles powered by renewable energy drawn from the park. The MOU specifically aims to create charging for the park’s customers, with the intention of exceeding 20 NIO charging points on completion.
- New ET9, China-flagship EV from NIO revealed. With up to 620 miles of range (est), and self-driving capabilities thanks to its massive amount of sensors, this EV comes in with a massive, “in your face” sort of styling, and NIO announced that the new ET9 dubbed “China’s debut super EV” will start at around $70,000 and will compete price-wise with Tesla’s Model S.
- Chinese electric carmaker Nio is to build up to six battery-swap stations in Budapest, under a new agreement with charging network operator E.ON. The stations will allow drivers to swap the battery in their Nio car for a fully charged replacement in a matter of minutes, mitigating the need to find a charging station.
- Analysts at Credit Suisse have initiated coverage of Nio with an 'outperform' rating and a target price of $63.80 per ADR. The Swiss investment bank believes a more gradual reduction in EV subsidies, compared to earlier expectations, will boost the outlook for the Chinese EV maker in the near future.
- Chinese electric vehicle (EV) maker Nio is seeking to raise more than $1.8bn in a dual-listing of its shares in Hong Kong, according to informed sources. “The funds raised will be used to finance business development, research and development, and working capital,” a person with knowledge of the situation said. Proceeds from the fundraising will be spent on research and development, as well as developing sales networks and product design.
- China's electric vehicle maker Nio has raised $2.7bn (£2bn) to fund capacity expansion and R&D on self-driving technologies over the coming three years. With a US-listing and capitalisation now above Ford, many predicting that Nio will soon overtake Tesla; the EV sector’s largest provider.
- Chinese electric vehicle manufacturer Nio said it saw an “explosive” increase in sales in Q2, although it still made a net loss for the period of RMB 1.16 billion ($168 million). Deliveries hit 10,331, compared with 3,553 in the previous quarter, while revenue jumped from RMB 1.4 billion to RMB 3.72 billion. The months from July have seen record-high numbers of orders and deliveries, the company said.
- Chinese electric vehicle maker Nio delivered 5,055 vehicles in August, up 104% YoY and a monthly record. That brings the company’s cumulative deliveries to 58,288. It said it expects to achieve a production rate of 5,000 per week in September and may increase its capacity accordingly.
- Nio expects Q2 2021 revenues of $1.24B-$1.25B – growth of about 47% over Q1 – thanks to deliveries of roughly 21k EVs, beating previous guidance, according to a preliminary financial report. Gross margin is expected to be 18%-19%, up from 17.2% in Q1. Shares of Chinese EV makers have slumped this year over regulatory uncertainty and the global chip shortage.
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