These charging stations could be ideal for long-distance travelers while also boosting the company’s revenue. The company has rolled out around 10 of its next-generations battery swap stations in China. This is expected to increase the revenue of the Chinese EV maker significantly. NIO Bets Big On Next-Gen Battery-Swap StationsĪs per the latest NIO stock news, the company is accelerating the development of its network of battery swap stations. During the Chinese new year, the company completed 1 million power swaps. As per the latest stats from the company, till January 2023, NIO cumulative deliveries reached 298,062. These deliveries included 2,190 SUVs and 6,316 Sedans. In January 2023, NIO delivered a total of 8,506 vehicles. A total of 122,486 vehicles were delivered during 2022, which was a 34% increase from 2021. In Q4 2022, the company’s revenue surged to RMB 16,063 million, which was 62.2% higher than NIO’s 2021 profit during the same quarter. According to these results, NIO delivered 40,052 vehicles in the Q4 of 2022. recently released its unaudited financial results that cover Q4 and the whole of 2022. The top Chinese EV brand also intends to reduce the number of free battery swaps from 6 to 4 per month. Therefore, from June 1, the new buyers will have to pay for home charging points. The company intends to make the complete transition to its second-generation platform NT 2.0, by accelerating the sales of its old stock.Īccording to the most recent NIO news, the company is planning to stop providing free home charging points to its buyers. However, these incentives have more to do with phasing out the first-generation stock than competing with its rivals in price cuts. In fact, NIO has already started to offer incentives to its customers. This means that Nio could be forced to follow the trend in the coming months, which will hit its margins. Second, there are concerns about Nio pricing power now that well-known brands have started lowering their prices. As such, investors are worrying about demand in the industry since Nio manufactures premium cars. There are hundreds of companies in the industry, like Li Auto, BYD, and Xpeng, that are building electric vehicles. First, there are concerns that the EV industry is getting crowded. Nio and other EV companies have struggled in the past few months for several reasons. The ongoing price drop war among the competitors might also give sales a much-needed boost. The Chinese EV market is expected to do good this year as the industries open after years of lockdown and restrictions. After a drop in March, NIO stock (NYSE: NIO) showed a great recovery but couldn’t gain strength above the key psychological level of $10.
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