NIO Inc. is the most prominent premium-priced Chinese brand in a crowded electric vehicle industry with dozens of competitors including startups, state-owned automakers and joint ventures with foreign partners. “Hopefully, in the second half of next year, we can start some small batch exploration in countries where EVs are popular,” Li said. He’s found partners in tech behemoth Tencent Holdings Ltd.; assisted driving leader Mobileye NV; the world’s biggest battery maker, Contemporary Amperex Technology Co.; auto-parts suppliers Robert Bosch GmbH and Continental AG; and aluminum producer Novelis Inc. NIO’s sole model, the ES8, is decked out in Nappa leather, sports HEPA air filters and has an aerospace-grade aluminum alloy body. William Li said the company might export a battery-swapping service already offered in China that might help it compete with rival Tesla. Jesse Pound @jesserpound. Li aims to “reignite enthusiasm and passion towards automobiles,” he wrote in the prospectus, seeking to create an all-encompassing “joyful lifestyle.” (Unlike Musk, Li doesn’t share his vision via Twitter or China’s equivalent, Weibo.). Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. (AP Photo/Ng Han Guan). In April, the company delivered 3,155 electric cars, which is 181% more than a year ago. The maker of electric cars and crossovers shot as high as $13.80 before plunging under $1.50 last October. They have raised US$8 billion in fresh capital from stock markets or investment funds this year. Nio stock is rising on China's direct investment in the electric car maker By Dana Blankenhorn , InvestorPlace Contributor Aug 11, 2020, 6:01 … NIO positively surprised with relatively strong sales results in China. The chairman of Chinese electric car brand NIO says it plans to start expanding to Western markets next year. NIO maintains it has “significant control” over manufacturing but added “there can be no assurance that we will successfully maintain quality standards.”. In June, however, the gap between Tesla and Nio was wider, at 12,478, with 14,954 Model 3s sold and 2,476 ES6s delivered. (Bloomberg Opinion) -- Hate to break it you, NIO Inc. is no Tesla. Another quarter will go on marketing expenses, including so-called NIO Houses – members-only social clubs. BEIJING -- Chinese electric car brand NIO plans to start expanding to Western markets next year and might export a battery-swapping service that could help it compete with rival Tesla, the company’s chairman said Thursday. Chinese electric car brand NIO looks at expansion abroad, How Trump plowed through $1 billion, losing cash advantage, With coronavirus concerns a factor, it's all tied up in North Carolina: Poll, Mom missing for 12 days in national park was 'disoriented' after injuring head, Trump dismisses pandemic, rips Fauci as 'disaster' on campaign all-staff call, NIO Chairman William Li speaks during an event at the company flagship store in Beijing on Thursday, Aug. 20, 2020. “We would like to start with European countries.”. NIOs IPO efforts in the USA is showing that investors are becoming soberer when looking at investing in EV start-ups. Having raised about 20 billion yuan through multiple financing rounds and borrowings in the past couple of years, the company continues to sink most of its money into research and development: Half goes into employee compensation, more than the amount spent on design and development. The company lost $164 million in the quarter ending in June but said sales of its two SUV models, priced at up to 370,000 yuan ($53,000), rose to a record 10,331. For now, it remains a dressed-up auto-tech company and parts assembler with bold ambitions. Li said that if NIO decides to offer that service in Western markets, it could help the company compete with Tesla in crowded cities such as New York and Chicago where owners park in the street or cannot set up a charging point at home. Nio posted a loss of 1.21 billion yuan for the quarter ending with June, narrowing down from a 63.6 per cent loss over the same period a year ago, thanks to efforts it made to cut production and marketing costs. Shares of Nio jumped 22.57% on Wednesday after JPMorgan upgraded the company to an overweight rating based on surging demand for electric vehicles in China. Its cars are manufactured by state-backed Anhui Jianghuai Automobile Group Corp., or JAC, at a new plant in Hefei, per the prospectus, under a five-year agreement signed in 2016. Its stock has, however, rebounded sharply, rising by more than 13-fold after China emerged out of the Covid-19 pandemic since April. The company is … New York-listed Nio, viewed as a bellwether of the Chinese electric-vehicle industry, narrowed the gap with US carmaker Tesla, mainland China’s highest selling electric-car marque, over the last three months.The company, started by William Li Bin … Most of the proceeds will go toward R&D. rose 7.4 per cent year on year to 1.94 million units in September, China’s top electric-car battery producer, Nio to team up for battery-swap venture as industry sales forecast to triple by 2025. Just seven months ago, Shanghai-based electric vehicle maker Nio (NIO) was seen as a cautionary tale.

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