Nio

An unnamed Nio source told the China Securities Journal that the chip shortage exceeded previous forecasts, and it is still closely monitoring the supply situation and actively coordinating supply chain resources.

"We were informed that the equipment renovation of the production line will be done next week along with the Tomb-Sweeping Day holiday," the report quoted an Nio source as saying.

Nio expects to deliver approximately 19,500 vehicles in the first quarter of 2021, down from the previously released outlook of 20,000 to 20,500 vehicles.

This seems to conflict somewhat with previous announcements from Nio. A spokesperson from the company couldn’t confirm the information.

"The stamping line equipment for Tesla's Shanghai plant was sold to them by us, which is kind of like us selling a weapon to a competitor," Li said.

That means an average of one Nio vehicle leaves the battery swap station with a fully charged battery every 10 seconds, the company said.

Nio has contacted Credit Suisse and Morgan Stanley to offer 5 percent of its total share capital in Hong Kong, the report said, citing sources who added that Nio could also go public in China's A-share market.

Under the five-year strategic cooperation agreement, the two companies agreed to cooperate in the construction of battery swap stations along the Beijing Capital Ring Expressway.

Chinese EV trio - Nio, Xpeng Motors, and Li Auto have made the leap from 0 to 1 and have distinctive brand characteristics, and are now evolving rapidly on the intelligent track, an analyst said.

At that time, He gave support to Nio despite the opposition of his friends and also invested a total of $300 million in Xpeng.