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CnEVPost Newsletter: NIO reports Q1 earnings, reveals plans for battery development and sub-brand
NIO Q1 revenue beats expectations, but higher battery costs lead to lower margins - CnEVPost — cnevpost.com NIO refrained from raising vehicle selling prices in the face of rising raw material costs in the first quarter, which had a negative impact on gross margins.
NIO Q1 earnings call live update: Deliveries of mass-market model will begin in H2 2024 - CnEVPost NIO's new orders in May reached a record high and the company is confident of achieving a rapid climb in deliveries in the second half of the year.
NIO tones down after AMD clarifies partnership fiasco - CnEVPost AMD says it looks forward to broad cooperation with NIO in the future.
Kaiyuan Securities initiates coverage on NIO with 'Outperform' rating, says new models will drive sales growth - CnEVPost The analyst expects NIO to deliver 140,000, 200,000 and 270,000 units from 2022-2024, respectively.
Tesla sells 32,165 China-made vehicles in May, exports 22,340 from Shanghai plant - CnEVPost Tesla's Shanghai plant produced 33,544 vehicles in May, 22,340 of which were exported.
Tesla's Shanghai plant returns to 100% capacity utilization - CnEVPost Since production resumed in late April, Tesla Giga Shanghai has produced a cumulative total of more than 40,000 vehicles.
BYD raises price cap on share buybacks as stock rises faster than it can execute - CnEVPost BYD previously announced a buyback price cap of RMB 300, but its shares have risen 40 percent in the past month to about RMB 330.
BYD sees electrification moving much faster than imagined as its order backlog reaches 600,000 units - CnEVPost "We feel that the electrification process is accelerating much faster than we thought," said BYD Chairman Wang Chuanfu.
CATL denies rumors that losses on its futures investments will drag down earnings - CnEVPost There have been rumors recently that CATL may recognize a loss on its futures investment in its first-half earnings report, leading to very poor second-quarter results.
Jidu's first production vehicle will be SUV to compete with Tesla Model Y - CnEVPost Jidu's first production model is positioned as a mid-size SUV that will be a generation ahead of Tesla in terms of intelligence, according to its CEO.
China's wholesale sales of passenger NEVs up 49.8% in May from April, CPCA data show - CnEVPost China's NEV industry has been hit by the current epidemic, but the year-on-year improvement has exceeded expectations, the CPCA said.