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“They are unlikely to get closer to Tesla in terms of sales, with the US carmaker still enjoying an overwhelming advantage in consumer awareness and maturity of technologies,” said Yale Zhang, managing director of industry researcher Automotive Foresight. 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, started by William Li Bin in 2014, delivered 3,226 of its ES6 sport-utility vehicles (SUVs) in September, a year-on-year increase of 87 per cent, according to the China Passenger Car Association (CPCA).

NIO says it has about $600 million of capital expenditure needs over the next year (starting in July), roughly equal to its cash on hand as of June. Nio stock is rising on China's direct investment in the electric car maker By Dana Blankenhorn , InvestorPlace Contributor Aug 11, 2020, 6:01 … But with cash burn of more than $500 million in the first half, that’s no longer enough. Meanwhile, we have witnessed strong order growth momentum driven by the increasing recognition of our competitive products, exceptional services, and particularly the battery swapping technologies by our existing and potential users.”. The public offering would value the electric-car maker at somewhere between $8 billion and $9 billion, an eye-popping sum for a company that doesn’t actually manufacture its own vehicles.

“A lot of people need this battery swap because they cannot install a charger at home,” Li said. NIO, whose early investors included Chinese tech giants Tencent, Baidu and Lenovo, has struggled financially, but Li said the company is more stable as sales improve. “We would like to start with European countries.”. (Bloomberg Opinion) -- Hate to break it you, NIO Inc. is no Tesla. NIO Electric Car Strategy in the news. Its stock had cratered to less than $3 a share in New York trading, investors were … A self-declared rival of Elon Musk’s Tesla Inc., NIO has been on the road rallying global investors for an imminent listing in New York – just as Musk’s troubles escalate. The ES8 (7- or 6-seat SUV), on the other hand, is just a shadow of what it was in 2018/2019. The Chinese electric-car company may have the trappings of the automaker of the future but ornaments won’t be enough to turn it into a genuine contender. Around a quarter of NIO’s targeted $1.3 billion of IPO funds are earmarked for manufacturing facilities, including the Shanghai plant.

Subsidies were due to end but have been extended through 2022 to help producers weather the pandemic. 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. He raised the price target for Nio’s shares to US$40 from US$14 in August. 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.). The models between NIO and Tesla were the GAC Aion S, the Buick Velite 6, and the BYD Qin Pro. Save up to 50% off Nike items. NIO positively surprised with relatively strong sales results in China. 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 … The Chinese electric-car company may have the trappings of the automaker of the future but ornaments won’t be enough to turn it into a genuine contender. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. A third model, a coupe, goes on sale in September. In fact, growing suspicions about its ability to turn a profit early this year knocked its shares down to US$2.11 in March, 47.5 per cent below its close in 2019. Just as Musk’s vision catapulted the appeal of electric cars, entrepreneur William Li wants to do the same in China. JAC, meanwhile, has its own ambitions, producing its first electric SUV with Volkswagen AG in May.


“Hopefully, in the second half of next year, we can start some small batch exploration in countries where EVs are popular,” Li said.
Tesla, on the other hand, led the sector by quite a distance last month, by a margin of 8,103, having delivered 11,329 of the Model 3 cars built at its Shanghai-based Gigafactory 3.

The firm also introduced a …

Hillhouse Capital and Sequoia Capital are among private backers that have funded Li’s vision. NIO positively surprised with relatively strong sales results in China. In April, the company delivered 3,155 electric cars, which is 181% more than a year ago. For the first three years, NIO pays per-car and foots the bill for the plant’s operating losses. Nio’s Swedish R&D chief Roger Malkusson said there was more to come from the current electric car architecture: ‘We will still launch one or two more products on the current platform. The company is … Initially, NIO was valued at $37 billion now it seems that the company can only raise around $1 billion through the IPO which sets the value closer to $8 billion. Morgan Stanley upgrades Nio, says electric car stock could jump another 15% .
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