Nio Onvo will formally launch the L60 on September 19, with a worth barely decrease than the pre-sale worth of RMB 219,900. Development of the F3 plant has already begun, with manufacturing set to begin within the third quarter of subsequent 12 months.
Nio (NYSE: NIO) in the present day reported better-than-expected second-quarter earnings after which held an analyst name.
Here is what CnEVPost has summarized from the decision, with the most recent on the prime.
If every of Nio’s battery swap stations gives 60 companies per day and fees a price corresponding to the price of supercharging, then the enterprise will break even.
Presently Nio has greater than 2,500 battery swap stations, with a median of 30-40 companies per day per station.
Nio will start deliveries of the primary Firefly mannequin in 2025, and product preparations are going very nicely thus far.
China’s new vitality car (NEV) penetration price might exceed 80 % in about 2 years.
By subsequent 12 months, Nio can have merchandise which can be higher fitted to world enlargement, together with Onvo and one other model codenamed Firefly.
Nio goals to enhance the effectivity of Onvo shops, and the typical renovation value for every of the shops which can be at present open doesn’t exceed RMB 1 million. For the subsequent 100 Onvo shops, the renovation prices can be even decrease.
Nio’s F2 plant has already began double-shift manufacturing. The F3 plant has begun development and can go into manufacturing within the third quarter of subsequent 12 months.
By the third quarter of subsequent 12 months, Nio can have a minimum of three factories that may be capable of assure manufacturing wants.
Firm-wide, Nio’s progress technique could be very clear. By way of worth band protection, Nio can have 3 manufacturers protecting the vary of RMB 140,000 to RMB 800,000. If the BaaS battery rental mannequin is taken under consideration, the worth vary is RMB 100,000 to RMB 700,000.
The long-term objectives for the Nio model are 40,000 gross sales monthly and a 25 % gross margin.
Onvo is focusing on a market with annual gross sales of 8 million items or extra, with a better quantity cap. A gross margin of 15 % is an affordable goal for Onvo in the long term.
Nio hopes to get car margin to the 15 % stage within the fourth quarter.
For the Onvo L60 provide chain, Nio is at present making ready for 10,000 deliveries in December, with a goal of 20,000 deliveries in the course of the 12 months.
Nio hopes that the Onvo L60 will attain 20,000 items delivered in a single month someday in 2025.
For gross sales and companies, as of now, the Nio model has 161 Nio Homes and 408 Nio Areas, in addition to 351 service facilities and 63 supply facilities.
The Onvo model has already opened 105 shops in 55 cities, and can have over 200 shops by the 12 months finish.
As for market improvement, Nio is accelerating the worldwide enlargement. On August 20, NIO’s UAE web site went dwell. And in This autumn, the merchandise can be launched and delivered in UAE.
Whereas guaranteeing controllable funding and environment friendly operations, Nio may even actively consider alternatives worldwide, introducing merchandise to extra markets.
On September 19, Nio’s family-centric mass-market model Onvo goes to have a good time the launch of its first mannequin, L60. And the person supply will begin in late September.
The Onvo L60 has a pre-sale worth of RMB 219,900, and can be barely decrease on the official launch.
With robust confidence on this all-around product, Nio will spare no efforts in ramping up manufacturing and fulfilling the market demand.
Highlights from Nio’s second-quarter earnings report:
Income got here in at RMB 17.446 billion ($2.4 billion), higher than analysts’ expectations of RMB 17.385 billion. That is up 98.89 % year-on-year and up 76.07 % from the primary quarter.
Web loss was RMB 5.05 billion, down 16.7 % year-on-year and down 2.7 % from the primary quarter.
Gross margin was 9.7 %, greater than analysts’ expectations of 8.736 % and the very best for the reason that third quarter of 2022.
Car margin was 12.2 %, in contrast with 6.2 % within the second quarter of 2023 and 9.2 % within the first quarter of 2024.
Nio posts better-than-expected Q2 earnings as deliveries hit report excessive
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