profile

CnEVPost

CnEVPost Newsletter: Nio reports Q3 earnings, unveils Firefly brand

Published 4 days ago • 1 min read

CnEVPost Newsletter: Daily Recap

Nov 20, 2024

​Nio posts lower-than-expected Q3 revenue, gross margin improves​

Nio reported weaker-than-expected revenue in the third quarter, which was also below its guidance range. It reported a net loss that was flat from the second quarter, with gross margin improving to 10.7 percent.

​Nio Q3 earnings call: Sales and profitability targets, new model plans, and more​

Nio is confident of doubling sales next year and aims to be profitable by 2026. The third brand is officially named Firefly and its first model will begin deliveries in the first half of 2025.

​Nio officially unveils 3rd brand Firefly, debut model to begin deliveries in H1 2025​

Firefly is positioned in the boutique compact car market and leverages existing sales channels to drive growth, Nio said in a statement.

​Huawei's HIMA unit to double model offerings in 2025 with Aito M8 to rival Li L9, report says​

HIMA's available models will exceed 10 next year, and one of the key models will be the Aito M8, which will compete with Li Auto's Li L9.

​CATL in talks to set up battery recycling operations in Europe​

CATL is in talks to set up a battery recycling business in Europe, discussing possible plant sites with European governments including Hungary, according to Bloomberg.

​China BEV export growth to slow this year on EU tariffs and lower demand, says Canalys​

China's export growth for BEVs is expected to slow to 9 percent this year, with its contribution to passenger car exports falling to 19.0 percent in 2024 from 22.5 percent in 2023, Canalys said.

​China to have 3.6 million public chargers by end of 2024, nearly 70% of global total, says TrendForce​

Global public EV charging pile deployment is constrained by land availability and grid planning, compounded by slowing NEV market growth, TrendForce said.

​China NEV retail at 581,000 in Nov 1-17, up 7% from same period last month​

Retail sales of all passenger vehicles in China totaled 1.11 million units in the November 1-17 period, up 30 percent from a year earlier and up 3 percent from a month earlier.

Did you know that you can now subscribe to company-specific newsletters? Just click on “Preferences” and update your subscription.

​Unsubscribe · Preferences​

CnEVPost

China EV news, data, insights and more.

Read more from CnEVPost

CnEVPost Newsletter: Daily Recap Nov 22, 2024 Xiaomi's 2nd EV model could be launched in Q1 2025, report says Xiaomi's second EV model is scheduled to hit the market in February or March next year, internally codenamed MX11, and will compete directly with the Tesla Model Y, according to local media. Nio denies after rumor of acquisition by BYD swirls A Nio executive has denied a rumor that the company will be acquired by BYD, after the fake information circulated widely on social media....

2 days ago • 1 min read

CnEVPost Newsletter: Daily Recap Nov 21, 2024 Great Wall Motor to adopt Huawei's driver assist system, report says Great Wall Motor will become the latest to adopt Huawei's smart driving system after BYD, and its first model to feature the system will be the Tank 700 Hi4-T off-road SUV, according to local media. Deutsche Bank expects Nio brand to sell 223,000 cars in 2025, Onvo 219,000, Firefly 8,000 Deutsche Bank raised its sales forecast for Nio Inc in 2025, using the same 450,000 full-year...

3 days ago • 1 min read

CnEVPost Newsletter: Daily Recap Nov 19, 2024 China EV insurance registrations for week ending Nov 17: Nio 3,800, Tesla 17,100, Xiaomi 5,700, BYD 94,700 Li Auto had 12,300 insurance registrations last week, Xpeng 6,300, Zeekr 6,000, Leapmotor 8,500 and Aito 7,200. Xpeng Q3 revenue beats estimates, gross margin hits record high Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations. Nio still hopes to expand...

5 days ago • 1 min read