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Tesla Rivals Challenge Its Lead as Nio Sets Encouraging Record
By: TheStreet | July 3, 2022
• Tesla's rivals are not even coming close to producing and delivering EVs at the same rate as the Austin, Texas-based market leader.
Electric vehicle makers have been struggling over the last two years to produce and deliver cars, trucks and SUVs despite obstacles such as supply chain disruptions, semiconductor shortages and factory shutdowns caused by the covid pandemic.
The industry's leading EV manufacturer Tesla (TSLA) on July 2 said that plant closures at its Shanghai gigafactory in April and May and supply chain disruptions led to a smaller number of deliveries than expected in its second quarter ending June 30 with 254,695, which was 26.7% higher than the same period in 2021, but 17.7% lower than its record of 310,048 delivered in the first quarter of 2021. Analysts were originally expecting about 295,000 deliveries.
Tesla's production declined to 258,580 vehicles in the second quarter compared to 305,407 in the first quarter. It had produced 305,840 vehicles in the fourth quarter of 2021.
Tesla's rivals are not even coming close to producing and delivering EVs at the same rate as the Austin, Texas-based market leader. But they keep trying.
Tesla Rivals Struggle to Produce and Deliver Volume of EVs
Tesla rival Nio (NIO) on July 1 said that it had delivered 12,961 vehicles in June for a 60.3% year-over-year increase and its highest number of monthly deliveries ever. The company also reported 25,059 EVs delivered in the three months ending June 2022, increasing by 14.4% year-over-year. Nio has delivered a cumulative 217,897 EVs as of June 30.
NIO on June 15 rolled out its ES7, a new mid-large five-seat smart electric SUV, which is the first SUV product based on NIO's latest technology platform Technology 2.0. NIO also launched the 2022 ES8, ES6 and EC6 equipped with the upgraded digital cockpit domain controller and sensing suite, enhancing the computing and perception capabilities as well as digital experience of the vehicles. The company expects to start deliveries of the ES7 and the ES8, ES6 and EC6 in August.
Chinese EV maker XPeng (XPEV) on July 1 said it delivered 15,295 vehicles in June, a 133% increase year-over-year; 34,422 in the second quarter ending June 30 for a 98% increase year-over-year and 68,983 in the first six months of the year for a 124% increase year-over year.
The Guangzhou, China-based company said in August it will begin accepting orders for its new G9 SUV with an official launch in September.
Beijing-based Li Auto (LI) on July 1 said it delivered 13,024 EVs in June, a 68.9% increase year-over-year and 28,687 in the second quarter ending June 30 for a 63.2% increase year-over-year. The company on June 21 began taking orders for its Li L9 SUV and recorded 30,000 orders as of June 24, according to a statement. Test drives will begin July 16 with deliveries beginning by the end of August.
GM Follows Behind Tesla and Other Rivals
General Motors (GM) had 7,300 EV sales in the second quarter, according to a July 1 statement. The Detroit automaker's sales included deliveries of the BrightDrop Zevo 600 delivery van, GMC Hummer EV pickup, and the resumption of the Chevrolet Bolt EV and Bolt EUV production.
GM said the Cadillac Lyriq production is accelerating, with initial deliveries in process. Orders for the 2023 model year sold out within hours and preorders for the 2024 model opened on June 22.
The company said it will gradually increase production of the Cadillac Lyriq and GMC Hummer EV Pickup in the second half of 2022.
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Nio (NIO) Price Target Increased to $28.00 by Analysts at HSBC
By: MarketBeat | June 30, 2022
• NIO (NYSE:NIO - Get Rating) had its price objective upped by HSBC from $26.00 to $28.00 in a research report issued to clients and investors on Thursday, The Fly reports. HSBC's target price suggests a potential upside of 28.09% from the company's previous close...
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Nio Shares Pare Back Gains as June Deliveries Lag Behind Rivals
By: Scott Kanowsky | July 1, 2022
Investing.com -- U.S.-listed shares in Nio Inc Class A ADR (NYSE:NIO) moved slightly lower on Friday, paring back early gains, after the Chinese electric car maker reported lower deliveries than its closest peers in June despite solid growth during the month.
Monthly deliveries jumped by 12,961 vehicles, up 60.3%, as the company got a boost from demand for its electric SUVs and a recovery in China's massive auto market. The uptick marks Nio's best month of deliveries since its shares first started publicly trading in 2018.
However, Nio's results were outpaced by close rivals Xpeng Inc (NYSE:XPEV) and Li Auto Inc (NASDAQ:LI). XPeng delivered 15,295 vehicles in June - an increase of 133%. Meanwhile, Li Auto reported a 69% bump up in monthly customer deliveries to 13,024.
Demand has recently begun to pick back up for all three of these EV start-ups, with June's delivery figures following stronger sales in the previous month. The downturn earlier in the year stemmed from strict lockdowns in China that constrained supply chains and disrupted output.
Nio, which has its headquarters in Shanghai and factories in Hefei, was particularly impacted by Covid restrictions. June marks the first month since December 2021 with deliveries over 10,000.
None of the companies provided detailed forecasts about future performance.
But there are signs of recovery in the broader Chinese car market. Retail auto sales for June 20 to June 26 jumped by 28% compared to the previous period in May, according to data released earlier this week from the China Passenger Car Association.
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NIO Round bottom base on the weekly just below a low volume area
By: TrendSpider | June 30, 2022
• $NIO Round bottom base on the weekly just below a low volume area.
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Mizuho Cuts NIO (NYSE:NIO) Price Target to $48.00
By: MarketBeat | June 27, 2022
• NIO (NYSE:NIO - Get Rating) had its price target reduced by analysts at Mizuho from $55.00 to $48.00 in a research report issued on Monday, The Fly reports. Mizuho's target price indicates a potential upside of 99.34% from the stock's previous close...
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Sad for those people. It should not affect the price, It was a bad accident.
Chinese electric carmaker Nio says that two people were killed when one of its vehicles fell from the third floor of its headquarters in Shanghai.
One member of staff and a person from a partner company died in the crash.
The incident took place on Wednesday at about 17:20 local time, the firm said. The people who died were inside the vehicle as it fell from the building.
Nio says it immediately started an investigation into the incident in co-operation with government officials.
The third storey area from where the car fell has been variously described as a showroom, a testing facility or a car park.
"Our company has collaborated with public security department to launch the investigation and analysis of the cause of the accident. Based on the analysis of the situation at the scene, we can initially confirm that this was an accident (not caused by the vehicle)," the company said in a statement.
NIO The hot streak continues as price is now approaching the April highs
By: TrendSpider | June 21, 2022
• $NIO The hot streak continues as price is now approaching the April highs.
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NIO Bullish trend broke out of resistance & held above the 50 & 100 daily EMAs
By: TrendSpider | June 19, 2022
• $NIO Bullish trend broke out of resistance & held above the 50 & 100 daily EMAs RSI however shows some bearish divergence forming.
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NIO Strong move through the downtrend line today as #GoNoGo remains firmly bullish
By: TrendSpider | June 17, 2022
• $NIO Strong move through the downtrend line today as #GoNoGo remains firmly bullish.
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Nio Stock Is Jumping. It’s Not Just About a New Car
By: Barron's | June 14, 2022
Nio stock was soaring after the Chinese electric-vehicle maker announced a new car. The big move, however, may have more to do with hopes for the Chinese economy than any individual car.
Nio stock has gained 19% to $18.97 at 1:28 p.m. on Tuesday ahead of a launch event on Wednesday. The company is expected to reveal its much-anticipated ES7 SUV—it teased a video of something—and the hope is that it will help drive new sales through 2022.
But Nio is also benefiting from what looks to be a reassessment of Chinese stocks by investors. While the S&P 500 has fallen 0.3% and the Dow Jones Industrial Average is off 0.5%, the iShares MSCI China ETF (MCHI) has gained 3.1%. That’s helped boost not only Nio, but Li Auto, which is up 12%, XPeng (XPEV), which has risen 7.8%, and Alibaba Group Holdings (BABA), which is up 6.7%.
What’s brought Chinese stocks, which have gotten pummeled, back into favor, at least for one day. After another series of near-total Covid-19 lockdowns, the economy has started to reopen, while policy makers are starting to take steps to ease monetary conditions at a time when the U.S. Federal Reserve is set to raise interest rates by the most since the 1990s.
Money has to go somewhere, and as investors start to fear what’s to come in the U.S., they’re looking to China as a potentially safer haven for their cash.
And that’s a scary thought in and of itself.
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$NIO 21D big spot to hold, really needs the Lockdowns to stop
By: Options Mike | June 12, 2022
• $NIO Earnings not good, delivery numbers forecast not good....
21D big spot to hold, really needs the Lockdowns to stop.
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NIO Stock Falls After Earnings - Where Will It Go From Here?
By: The Tokenist | June 10, 2022
• Nio stock price is trading over 40% lower year-to-end and almost 60% down in the past 12 months
• Tighter financial conditions bearing a significant impact on high-growth stocks, the risks to US delisting, and supply chain headwinds are the key factors behind Nio's bearish rout
• It is now unlikely that shares will turn higher in the short run
Nio Reports Bigger-than-expected Loss
This week, Chinese EV maker Nio (NYSE:NIO) reported a loss of 1.8 billion yuan for the first quarter of 2022, down 62.6% from the year-ago period. However, the Chinese electric automaker said revenue rose 24.2% year-over-year to 9.9 billion yuan, driven by stronger electric vehicle (EV) sales.
The company reported a new record high of 25,768 EV deliveries in the first three months of the year, up 28.5% from the same period last year. Nio said it generated 9.2 billion yuan from vehicle sales in the quarter, up 24.8% year-over-year, though vehicle margin fell to 18.1% from 21.2% in the year-ago quarter on higher costs.
The Shanghai-based electric vehicle maker said R&D expenses surged by 156.6% from the year-ago period to 1.8 billion yuan due to higher staff and incremental design and development costs for its latest offerings.
Nio reported a 68.3% jump in selling, general and administrative expenses to 2 billion yuan. The EV company reported a basic and diluted net loss per share of 1.12 yuan, down from 3.14 yuan in the year-ago quarter and compared to 1.36 yuan per share in the fourth quarter of last year.
While supply chain constraints and new waves of coronavirus infections weighed on China-based operations, Nio said it registered strong demand for its complementary products, and saw an all-time high of order inflows in May, said the company's founder, chairman, and CEO William Li.
Nio's CFO Steven Wei said the company's listing in Singapore last month reinforced its position in the global financial markets and added that the carmaker has been cooperating with its supply chain partners to ramp up production capacity and vehicle delivery.
"While making decisive investments in new products, technologies and businesses, we strive to continuously optimize our cost structure, improve operating efficiency and create long-term value for our shareholders."
Moving forward, Nio expects its vehicle deliveries for Q2 to be in the range of 23,000 to 25,000 and anticipates Q2 revenue to range from 9.3 billion to 10.1 billion yuan.
Has Delisting Been De-risked?
The EV company recently listed its shares in Singapore, marking the third stock exchange with live trading after listing on the New York Stock Exchange and Hong Kong.
The carmaker's decision to make a third listing comes after the U.S. Securities and Exchange Commission (SEC) warned that numerous U.S.-listed Chinese companies face a delisting risk from U.S. exchanges.
During his reign, former U.S. President Donald Trump signed a bill that asked foreign companies that want to list their shares in the U.S. to adhere to stricter auditing standards, and those who fail to comply could be delisted.
The bill raised concerns among many major U.S.-listed Chinese companies, including Alibaba (NYSE:BABA), and JD.com (NASDAQ:JD), among others, which then opted for secondary listings to reduce the delisting risks.
Most of those companies carried out their secondary listings in Hong Kong, including Nio. This way, Nio mitigated the risk of being forced out of NYSE. However, its decision to carry out the third listing in Singapore is not a move commonly seen among its peers.
Shares of its competitors Xpeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) are also listed in Hong Kong after their so-called dual primary listings.
New Expansion and Battery Plans
Nio will start producing self-developed high-voltage battery packs in the latter half of 2024, Nio's CEO William Li told analysts this week.
In an attempt to rival its biggest competitor, Tesla (NASDAQ:TSLA), Nio has already hired 400 employees to research and develop battery technologies, with a plan to have both self-produced and externally sourced batteries.
Unlike Tesla, which uses 400-volt batteries, Nio will produce 800-volt lithium-ion battery packs with an advantage of a faster recharge. Li added that new battery packs will be available for sale in the latter half of 2024, presumably for a price of 200,000 to 300,000 yuan.
Media reports also circulated that Nio has advanced plans for expansion on U.S. soil. The EV company has reportedly started the recruitment process for production facilities in the U.S. which will be used for either complete knock down (CKD) or semi-knock down (SKD) assembly methods. This includes shipping manufactured and/or semi-assembled components for assembly in another country.
The move would represent a continuation of Nio's ambitions to provide services in 25 countries and regions by 2025, including Western Europe, Australia, and the U.S.
The new report correlates with a report from January, saying that Nio had signed a ten-year lease in San Jose, which will be used as the EV company's local headquarters.
Nio is looking for park planning experts, planning and infrastructure experts, body craft experts, and overseas logistics project managers for its US-based manufacturing-related positions.
Summary
Nio investors received another blow as shares fell over 7% on the Q1 earnings report. Shares of the EV company were already down sharply in a more challenging macro environment in 2022. It is now unlikely that shares will turn higher as long as the company faces supply chain management troubles and macro headwinds.
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NIO Falls As Margins Decline
By: Vladimir Zernov | June 9, 2022
Key Insights
• NIO released its first-quarter report, beating analyst estimates on both earnings and revenue.
• Traders focused on falling margins and deliveries guidance for the next quarter.
• The market remains worried about China’s zero-COVID policy which increases risks of lockdowns in Shanghai.
NIO Retreats After Q1 2022 Report
Shares of NIO found themselves under strong pressure after the company released its first-quarter results.
The company reported revenue of $1.56 billion and an adjusted loss of $0.13 per share, beating analyst estimates on both earnings and revenue.
In the first quarter, NIO delivered 25,768 vehicles compared to 25,034 vehicles in Q4 2021. Vehicle margin declined from 20.9% in Q4 2021 to 18.1% in Q1 2022. Gross margin has also declined from 17.2% to 14.6%.
In the second quarter of this year, NIO expects to deliver between 23,000 and 25,000 vehicels. Total revenues are expected to be in the $1.47 billion – $1.59 billion range.
The market focused on falling margins and modest guidance, which was bearish for NIO stock. In addition, it looks that traders remain worried about the possibility of more lockdowns in Shanghai.
What’s Next For NIO Stock?
Analysts expect that NIO will report a loss of $0.54 per share in the current year and a loss of $0.11 per share in the next year. Analyst estimates have been moving lower in recent months, which is not surprising given the negative impact of lockdowns in China.
In recent weeks, NIO stock managed to move away from yearly lows amid a broad rebound in Chinese stocks. It should be noted that NIO stock is down by more than 70% from the highs that were reached back in 2021, so some speculative traders may see this major pullback as a buying opportunity.
In the near term, NIO stock will remain sensitive to news about the situation with coronavirus in China. The company’s second-quarter guidance already looks bleak, and another lockdown will further hurt margins and deliveries.
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$NIO Q1 Deliveries up +28.5% YoY but forward guidance weighs
By: TrendSpider | June 9, 2022
• $NIO Q1 Deliveries up +28.5% YoY but forward guidance weighs.
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NIO Power is a mobile internet-based power solution with extensive networks for battery charging and battery swap facilities. Enhanced by Power Cloud, it offers a power service
the system with chargeable, swappable, and upgradable batteries to provide users with power services catering to all scenarios.
NIO News
 NIO's Game-changer: Unveiling the 1,000 KM Range Electric Vehicle Battery | New Era in EV Technology! | |
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