CnEVPost Newsletter: Nio Q2 earnings; China EV insurance registrations
Nio missed Wall Street's revenue estimates and widened its net loss to RMB 6.06 billion in the second quarter, but gave a third-quarter outlook that beat expectations.
Nio is expanding its sales team in line with a target sales capacity of 30,000 units per month, and hopes to build this capability initially by the end of September.
Between August 1 and August 27, Nio vehicles saw 16,000 insurance registrations in China, Xpeng at 11,700, Li Auto at 29,100 and Tesla at 56,400 units.
The key to the deal is that Xpeng can get more sales by tapping into Didi's massive network of 19 million drivers in China, Deutsche Bank said.
A total of 29 percent of Xpeng G6 owners compared the Tesla Model Y and 9 percent compared the Nio ES6 when purchasing the car.
A previous report said that a number of Chinese automakers, including Chery and Nio, were planning to order their own car carriers.
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