Nio

Nio reported mixed fourth-quarter results while providing a better than feared first-quarter outlook, said Deutsche Bank.

Nio's Alps sub-brand will debut in the second quarter, with the first model launching in the third quarter and volume deliveries beginning in the fourth quarter.

Nio reported a net loss of RMB 5.37 billion in the fourth quarter, down 7.2 percent from the fourth quarter of 2022 and up 17.8 percent from the third quarter of 2023.

BYD was at 38,500 units last week, up 21.84 percent from the previous week's 31,600.

The camouflage-wrapped car has a few words on its rear window that mean it's better than Tesla's Model Y.

Those who have been looking to buy a Model Y lately can wait a little while, as Alps' first model is certainly cheaper, said Nio's William Li.

Nio Capital-backed EV-Tech and Nio will jointly develop products based on Nio's STEM Young high-voltage architecture, with deliveries to the Nio brand and Nio's second brand expected to begin in 2025.

Nio's latest NOP+ could be used outside of Greater China, further demonstrating its algorithm's ability to adapt to different traffic rules and driving scenarios, Morgan Stanley said.

The Chinese New Year holiday caused disruption, and potential customers' wait-and-see ahead of the 2024 models may also have had an impact.

Focus will mostly be on the gross margin, and Nio management's guidance for first-quarter deliveries are expected to be weak.