We believe we should achieve profitability in the next one to two years.Can you achieve profitability as a China-only brand or do you need global sales as well? In China we have provided more than 500,000 swaps to our customers. Sales of new-energy vehicles, including electric cars, are set to reach 1.1 million units this year in China, with Tesla expected to account for around 10 percent of that, the China Association of Automobile Manufacturers has forecast. Choose your news – we will deliver. Li said Nio hopes to enter international markets in the second half of next year starting with selected European countries. Other investors are Guotai Junan Financial Products Co. and the government-backed Hubei Provincial Science and Technology Investment Group. How the Paris auto show is going on without visitors, Opportunity lies in virtual format of NADA Show, Subaru sees 2-year delay until return to record growth, Virus delays dealership construction projects, Dongfeng to raise 21 billion yuan for advanced tech, electrification push, Girsky praises Nikola's IPO alternative, bullish on rebound, Mobility startups, venture capitalists plot ways to weather COVID disruptions, Venture capital firms have varied approaches, Israeli companies demo automated lane-keeping system. Registrations of Tesla Inc. vehicles in China have topped 61,000 this year, versus the 17,702 vehicles Nio delivered through July. From day one, NIO’s been busy baking in a very aggressive front end design to its cars. The crossover competes with the Audi Q7 in China. Europe is one of the prospective markets we have been considering very seriously. For the EV market there are a lot of similarities between Europe and China. Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe. “In the vehicle-battery separation model, batteries will become an important asset instead of a source of power only.”. In the past decade the Chinese government has offered the highest incentives in the world. We will start deliveries of a new product next year. The Chinese government was supposed to end the subsidy this year but decided to extend it for another two years because of COVID-19, reducing it gradually. "We need some time to make sure they understand our brand," he added. It’s the same for Europe and the China – it’s an aftersales service provided to car buyers. We are open to cooperation. Right now we have 1,200 patents related to the battery pack, the vehicle, the power-swap stations and our cloud-based scheduling system. Its sleek ES8 and ES6 utility vehicles are attracting buyers as the coronavirus pandemic eases in China, helping Nio’s stock price more than triple this year. We spent three years developing an innovative way to build up a sales network in China, but that may not apply to Europe. You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy. Are there some advantages maybe? As a new car company we can focus on the technology. It will take another two years to achieve that. Battery swapping never took off in Europe and the Israeli company that pushed for it, Better Place, went out of business. After a brutal 2019, Nio has new funding and achieved record sales in its home market last month. The ES6 is available with either a 70 or 84kWh battery, giving up to a claimed 317 miles or so of range (on the wildly-optimistic NEDC cycle). There are some lower-hanging fruits in terms of other markets, for example, Asian countries around China. Two powertrains will be offered. Nio currently sell two SUVs with a third one coming. Choose your news – we will deliver. We still have a long way to go. A key issue, however, is that all countries will need to lower expectations for economic development and income growth. NIO designs and develops smart, high-performance, electric vehicles with an aim to be the first “User Enterprise” in the world. We are also open to cooperating with other brands and companies. Nio ES6 is a 317-mile electric SUV with a swappable, upgradable battery ... from the purchase price by opting for Nio's battery subscription program where you lease the battery from Nio… Nio had a record May and a recent round of investment has boosted the company’s cash after a difficult year. nio es6 NIO is much more than a car company. Our cooperation in China with JAC works very well because the manufacturing industry is mature and there is excess capacity. Customers can still choose to buy the entire vehicle, battery included, for 343,600 yuan ($49,600.). A Nio ES8 is pictured in Hefei, China. China remains ahead in terms of development and investment in the EV industry, for example, in terms of batteries and charging. ISSN 2643-6604 (online), 'Extremely damaging' no-deal Brexit would cut Bentley profits, CEO says, Daimler CEO warns of big loss from hard Brexit, GM plans investments to expand EV production. For more information, see our Privacy Policy. That being said, if there is an incentive policy, we should try to qualify, but this is not a strategically important issue for us. ISSN 2576-1064 (print) As we enter the global market we are going to take this battery swap technology to more markets. This is going to challenge consumption, and not just for EVs. A new government regulation in April maintained buyer rebates for vehicles equipped with swappable batteries. How will you persuade others to redesign their vehicles to accept your batteries? More regions will be added the following year, and by 2023-24 Nio will be in “the main markets globally,” he said. Why do you believe this time it could work here? Europe is more of a mature market compared with China. Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business. In some cases it will present some opportunities. Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. The cheapest Nio car after subsidies is now an ES6 SUV priced 273,600 yuan ($39,553 or 33,420 euros) without ownership of the battery pack, versus 343,600 yuan ($49,700 or 41,970 euros) including the pack. Brand loyalty among car buyers in Europe is quite rigid. Click here to learn more. NIO designs and develops smart, high-performance, electric vehicles with an aim to be the first “User Enterprise” in the world. The good news for Nio is that there’s an exception for vehicles that cost more than 300,000 yuan if you have battery swap technology. What are your target export markets? Unless otherwise stated, all prices are shown as Manufacturer's Recommended List Price (MRLP) inclusive of GST, exclusive of options and on road costs. 1155 Gratiot Avenue We started with SUVs [the ES8 and ES6] because we leveraged the same platform and our third model [the EC6] that is launching now is a coupe-styled SUV. The venture will serve just Nio vehicles for now, though it is open to working with other carmakers, Li said. They can also replace the battery with a newer, improved one in the same car shell as technology rapidly advances. Our volume will not be that high in the short term in these new markets, but it will be good practice for the team to get us ready, dealing with international orders, cross-border logistics and more. September 29, 2020 | The beginning of the end for gasoline-powered vehicles? The Automotive News mission is to be the primary source of industry news, data and understanding for the industry's decision-makers interested in North America. Nio President Lihong Qin told Automotive News Europe in June that the automaker could launch in some European countries in one to two years, but said the company first had its eye on more accessible markets such Asian countries around China. We planned to start sales outside China this year, but we had to postpone that because of the COVID-19 outbreak. The approach means customers can buy just the vehicle shell outright, while agreeing to pay rental fees for the battery. This resulted in the introduction of many models but very few competitive products. Have an opinion about this story? We have not decided where, but we have been studying the topic for quite a while. They set a threshold of 300,000 yuan (37,350 euros) [EVs that cost more don’t qualify for the subsidy]. Yes, I'd like to receive email communications on editorial features, special offers, research and events and webinars from Automotive News. Automotive News Europe has added a wide range of new digital products. It depends on the investment as well as the product mix and the average selling price, but we need to at least double current sales to achieve this target. You’ve got your slim DRLs (Daytime Running Lights) positioned in the corners of the hood, right where it joins the front fascia, then the headlight clusters just beneath them, housed by the shark-like bumper. The so-called battery-as-a-service model could “considerably lower the purchase cost,” Credit Suisse Group analysts said earlier this week. China’s Nio Inc. and Contemporary Amperex Technology Co. aim to lighten that burden by allowing customers to lease batteries separately from vehicles, reducing upfront purchase costs. We believe battery swapping can level the playing field for EVs and solve range anxiety issues. EVs are on same starting line in both markets, therefore, we are going to see very similar development paths. Detroit, Michigan See more newsletter options at autonews.com/newsletters. Click here to submit a Letter to the Editor, and we may publish it in print. Please select at least one newsletter to subscribe. Detroit MI 48207-2997 Speaking from a business perspective, government incentives should not be a foundation for growth. The four owners will each invest an initial 200 million yuan ($28.9 million) into the venture, called Wuhan Weineng Battery Asset Management Co. More investors are in the process of participating, Li said. Where will the EV market go in terms of body styles? It will also take time for the EV segment to grow. However, the barrier to entering Europe is tougher than most other places, so we need to get ourselves fully prepared. While Nio may be ahead of the pack in terms of the battery-as-a-service concept, competition remains stiff. This year has brought better news, including new state investment from the Chinese city of Hefei and record monthly sales of its two SUVs in May. Tel: +1 877-812-1584, ISSN 2643-6590 (print) What happened to Better Place doesn’t prove that battery swapping technology is the wrong technology. In May we set a record with 3,436 deliveries, but we cannot rely on the current delivery numbers to achieve profitability. Under the new lease model, the starting price of Nio’s ES6 utility vehicle without a battery will be 273,600 yuan ($39,500), and the battery’s monthly lease starts at 980 yuan, Nio said. Nio President Lihong Qin says brand loyalty is the toughest challenge the Chinese electric car maker will have to overcome to have success in Europe. However, we can’t say the industry is more advanced compared with Europe. The premium brand hit financial rock bottom last year after reaching losses of about $6 billion since being founded in 2014. For example, if people can install a home charger they can avoid fuel stations and public interaction in those places. Rival BAIC Motor Corp. uses swappable battery technology too but only for fleets. How will the pandemic change consumer and government behavior in terms of EVs? The ES6 made no exception, so it’s only natural for the EC6 to adopt he same styling.
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