![]() Nevertheless, the Chinese EV maker NIO adopted this mechanism which has significantly increased its spending. ![]() It is significant to note here that the power swap idea was discarded by Elon Musk in 2015. By 2025, Nio hopes to have over 4,000 battery swap stations globally, with over 1,000 overseas. The company has established more than 10 NIO battery swap stations in the EU.īy the end of this year, the EV company plans to have 120 power swap stations in the region. The company has also launched two swap stations in Norway, one of the biggest EV countries in the industry. It has already opened a battery swap station in Germany, where it expects to gain market share. Nio (NYSE: NIO) is also expanding its business in Europe. This included 300,000 swaps on its power stations along the highways. The Chinese EV maker also revealed that during the Chinese New Year season, the company catered for around 1 million power swaps. As per the latest stats from the company, till January 2023, NIO cumulative deliveries reached 298,062. These deliveries included 2,190 SUVs and 6,316 Sedans. In January 2023, NIO delivered a total of 8,506 vehicles. A total of 122,486 vehicles were delivered during 2022, which was a 34% increase from 2021. In Q4 2022, the company’s revenue surged to RMB 16,063 million, which was 62.2% higher than NIO’s 2021 profit during the same quarter. This included 22,824 SUVs and 19,228 sedans. According to these results, NIO delivered 40,052 vehicles in the Q4 of 2022. The most recent news is the latest unaudited financial results that cover Q4 and the whole of 2022. In a statement, JP Morgan’s CEO warned that the economy faces a mild recession in 2023. Companies like Alphabet, Microsoft, Meta Platforms, Salesforce, and Goldman Sachs are laying off thousands of workers. This means that Nio could be forced to follow the trend in the coming months, which will hit its margins.įurther, there are worries about the global economy now that many well-known companies have started slashing their labor force. Second, there are concerns about Nio pricing power now that well-known brands have started lowering their prices. As such, investors are worrying about demand in the industry since Nio manufactures premium cars. There are hundreds of companies in the industry like Li Auto, BYD, and Xpeng that are building electric vehicles. First, there are concerns that the EV industry is getting crowded. Nio and other EV companies have struggled in the past few months for several reasons. One sigh of relief is the fact that the price has bounced off the 2022 low, which shows that there is still demand around $8.50 level. The price failed to break above the December highs and retested the range lows. ![]() ![]() However, the bulls couldn’t keep momentum in February, and the price tanked very hard. NIO stock (NYSE: NIO) started the year 2023 very strong, gaining 30% in January. ![]()
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