Nio Day 2023 will be held on December 23 in Xi’an, Shaanxi province, Northwest China, where Nio will unveil a new flagship model.
(Image credit: CnEVPost)
Nio (NYSE: NIO) released its third-quarter earnings results today and held an analyst call afterward.
Here are the live updates from Nio’s earnings call, with the latest at the top.
Over the next year, Nio’s priority in Europe will continue to be ensuring experiences rather than increasing sales.
Nio is in a position to open up NOP Plus testing to pioneer users in over 100 cities.
Nio already has a sales force of around 5,700, but more than 3,000 are recent recruits.
Nio’s sub-brand codenamed Alps has recently completed its trial production in VB status and there is still enough time to optimize and improve it.
Nio’s battery swap network will include both dedicated and shared networks, and the company will start using building a shared battery swap network next year. This shared network will be available for both Nio and Alps brands.
Alps models will not share the sales network with the Nio brand, but will share part of the service network and service centers.
Nio will keep the prices of its vehicles stable and will not trade price cuts for sales.
Nio will ensure that the nine core products across the three brands are launched on schedule. Many inputs are in the process of being made and these products will be announced progressively in the near future.
Nio has increased its sales force, sales outlets and it will take some time for this sales capacity to turn into sales.
Nio will continue to invest in its core technologies to ensure a competitive edge. The new model that Nio will unveil at Nio Day 2023 will feature a number of globally leading technologies.
For the in-house manufacturing of batteries, Nio doesn’t see the possibility of the business helping to improve gross margins in three years’ time, so the company has opted for other approaches.
Nio will continue to work on battery cells, materials, and packs, but will commission production to reduce costs.
With Nio’s acquisition of JAC’s plant assets and full control of the manufacturing process, production costs are expected to fall by about 10 percent.
Nio already has dozens of battery swap stations held by partners but operated by Nio.
A separate financing for Nio’s power business cannot be ruled out.
In China, the vast majority of urban users live in apartments, and more than half of the users don’t have the conditions to install a charging post.
So for Chinese users, battery swap is the best way to replenish energy. This is especially important for mass market users.
Nio has already announced the signing of two car companies for battery swap cooperation, and several more are in the process of negotiation.
Nio Day 2023 will be held on December 23 in Xi’an, Shaanxi province, Northwest China, where Nio will unveil a new flagship model.
The model will be the result of Nio’s technological innovation and will become the global technology benchmark for smart electric vehicles, leading the trend of smart electric vehicle technology.
NOP plus coverage of urban routes and the number of cities reached is increasing rapidly and has significantly exceeded the goals set out at the Nio in Innovation Day in September.
Nio will hold a communication session in the near future, where it will share more information and plans related to smart driving.
According to retail data from China Automotive Technology and Research Center (CATARC), Nio ranked No. 1 in China’s EV market with a transaction price of RMB 300,000 or more in the third quarter, with a share of more than 40 percent.
Going forward, Nio will stay focused on executing its strategies and improving operational efficiency.
The competitiveness of Nio’s NT 2.0 platform-based models will be unleashed further next year.
Nio Q3 earnings: Revenue hits record high, gross margin rebounds to 8%, loss narrows
