Earnings

Nio has more than 100 subsidiaries located in multiple regions, resulting in the need for additional time to prepare for capital liquidity disclosures, the company said.

The team does not see compelling reason to own the stock as it will not have new products until the third quarter and the new EREV will target a relatively small segment.

Li Auto's guidance for first quarter deliveries is 30,000-32,000 vehicles, the same as its previous guidance for the fourth quarter of last year.

Deutsche Bank maintains a Hold rating on Li Auto and a $34 price target, implying a 14.8 percent upside.

Li Auto delivered 35,221 vehicles in the fourth quarter of last year, above the previous guidance range of 30,000-32,000 vehicles.

In 2021, Tesla sold 169,853 Model Ys and 150,890 Model 3s in China.

The growth is mainly due to increased penetration in the NEV and energy storage markets in 2021, boosting battery sales.

Tesla said its factories have been below full capacity for several quarters, a situation that could continue further throughout 2022 as the supply chain becomes the main limiting factor.

Uxin expects fourth quarter revenue to be RMB 480 million to RMB 500 million.

While Xpeng and Li Auto outpaced Nio in third quarter deliveries, Nio had the highest revenue as its vehicles sold for the highest price of the three.