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 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.
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.
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.
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.
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.
Wuling to build logistics cars based on CATL's battery swap solution
SAIC-GM-Wuling has entered into a partnership with CATL to use the latter's Choco-SEB battery swap solution in the logistics vehicle segment.
Nio still hopes to expand global presence to up to 25 countries and regions by 2025
Nio hopes to enter more than 90 percent of overseas markets in the next five to ten years.
Xiaomi reports $1.3 billion in revenue from EV business in Q3 with 39,790 deliveries
In the third quarter, Xiaomi's innovation business, which includes EVs, had a gross margin of 17.1 percent and an average vehicle sales price of RMB 238,650.
Nio Onvo aims to have up to 1,000 stores by end of 2025, report says
Onvo aims to have at least 500 stores by March next year and 800-1,000 by the end of 2025, according to local media.