Nio (NYSE: NIO) reported significantly lower revenue for the first quarter, as it navigated a traditionally weak quarter in a challenging environment. The company reported revenue of RMB 9.91 billion ($1.37 billion) in the first quarter, missing analysts’ expectations of RMB 10.75 billion in a Bloomberg survey, according to its unaudited financial report released today. Read more…
Category: CnEVPost
Polestar plugs into Nio’s charging network in China
Polestar now has access to more than 2,200 Nio charging stations, including more than 11,000 charging stalls. Read more…
Nio changes strategy on 3rd brand Firefly, 1st model to debut in China instead of Europe, report says
Firefly’s first model will make its debut in China, possibly at the end of this year, before launching in Europe in the first half of next year, according to local media. Read more…
Xpeng appoints European design veteran who had worked at BYD, Changan as VP of design
Xpeng appointed JuanMa Lopez as vice president of design, saying he will drive the evolution and upgrade of the company’s design style. Read more…
Global EV battery market share in Jan-Apr 2024: CATL 37.7%, BYD 15.4%
CATL continued to be No. 1, but with a slight decrease in share from Jan-March. BYD remained in second place and increased its share. Read more…
Mercedes-Benz to adopt smart driving solution from Chinese startup Momenta, report says
Mercedes-Benz’s all-electric CLA model will be equipped with a high-level intelligent driving solution from Momenta that does not rely on high-definition maps, and will be capable of pilot assisted driving in urban areas, according to local media. Read more…
Nio seeking cost reduction advice from partners
Nio is looking to its partners for cost-cutting advice, saying their expertise and industry experience will be important in meeting its cost-cutting goals. Read more…
Nio’s new orders in May up 37% from Apr, Deutsche Bank survey shows
BYD and Tesla both saw record highs in new orders in China in May, according to Deutsche Bank. Read more…
Nio president confirms construction of F3 plant has begun, says F1, F2 can no longer meet demand
Nio’s F3 plant is located in Hefei’s NeoPark, and with the subsequent launch of new products, the production capacity of the existing 2 factories can no longer meet demand, Qin Lihong said. Read more…
China NEV retail at 790,000 in May, up 17% from Apr, preliminary CPCA data show
China’s NEV penetration at retail stood at 46.88 percent in May and 40.26 percent year-to-date, according to preliminary data from the CPCA. Read more…
BYD’s FinDreams unit to supply battery cells to Tesla’s Shanghai Megafactory
BYD’s battery making unit FinDreams will be Tesla’s new supplier of energy storage cells outside of CATL, securing more than 20 percent of orders for the Megapack product line, according to local media. Read more…
BREAKING: Nio gets regulatory approval to build 3rd plant in China, report says
The new plant will have a capacity of up to 600,000 units per year, which will raise its total capacity to 1 million units, according to Reuters. Read more…
Li Auto further cuts 2024 sales target to around 480,000 units, report says
This is the second cut after Li Auto lowered its 2024 sales target from 800,000 units to 560,000-640,000 units. Read more…
Nio makes China’s 1st list of L3/L4 autonomous driving pilot automakers
Entry into the list lays the groundwork for the commercialization of high-level autonomous driving capabilities, Nio said. Read more…
Nio users drive over 100 million km with smart driving features in May
Nio users have driven a total of nearly 1 billion kilometers using NOP and NOP+ by the end of May. Read more…
Nio provides average of 68,084 battery swap services per day in May
On average, each Nio user used the battery swap service six times in May, each time taking about three minutes. Read more…
China May NEV wholesale at 910,000, up 16% from Apr, CPCA estimates show
In May, the start of car trade-in subsidies and the cooling of price wars have stimulated spending among groups that were previously on the sidelines, the CPCA said. Read more…
Tesla China sells 72,573 cars in May, up 16.74% from Apr
In the January-May period, Tesla China sold 355,616 vehicles, down 7.12 percent from 382,859 in the same period last year. Read more…
China EV insurance registrations for week ending Jun 2: Nio 6,700, Tesla 15,200, BYD 53,400, Xiaomi 2,200
Nio vehicles had a record 6,700 insurance registrations in China last week, up 24.07 percent from 5,400 the week before. Read more…
Geely, STMicro sign SiC device supply deal
STMicro said it will supply SiC power devices for Geely’s multiple brands of mid- to high-end all-electric vehicles, helping to boost performance, speed up charging and extend range. Read more…
