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Re: NextEV Nio

What happens when you don't have the coveted license, Case 1 (Lawrence please note):
Hint: Piggybacking
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Future Nio vehicles may be co-developed with Changan:
http://www.reuters.com/article/changan-nextev-idUSL3N1HI21P
Yes, and it's interesting that NIO has chosen two, not one, SOE partners to help it clear the hurdles of gaining approval.
Perhaps we can expect to see more of the same collaboration, as investor enthusiasm varies directly with product output of the start-ups.
LeEco's choice of a foreign partner, Aston Martin, was perhaps misguided.
 

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New bases

Even after utilizing a newly constructed, Nio-dedicated JAC factory in Hefei where production of the ES8 is ramping up, as well as entering into an agreement to make use of GAC's upcoming "New Energy Base" in Panyu (Guangzhou), Nio has announced that it will construct a new factory in Jiading district of Shanghai for future models.

http://autonews.gasgoo.com/china_news/70013591.html
 

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The next product after the upcoming ES6 will be a vehicle called ET7.

The ET7, on which development work is ongoing, was mentioned on the Linkedin page of an engineer working for Tata Manufacturing Technology Consulting (Shanghai) Co., Ltd., the local arm of Singapore-based Tata Technologies that has been working with Nio since 2015 with respect to product development (including the ES8), PLM (product lifecycle management), body structural engineering, stamping and closures (doors, tailgates, etc.).

Also see para 3 of this article.
 

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JAC, GAC, and now Changan!

http://autonews.gasgoo.com/new_energy/70015048.html

NIO, Changan to hold 45% stake in their JV sited in Nanjing


Shanghai (Gasgoo)- Changan NIO New Energy Vehicle Technology Co., Ltd., a joint venture co-built by Changan Automobile and NIO, rolled into Jiangning Development Zone, Nanjing on Aug. 17. It is said that the new JV plans to have an investment of RMB 5 billion and will start construction within this year. The new JV is expected to research and develop three new models and the first one will be put into production in 2020.

The new company will name William Li, founder of NIO, as chairman, Li Wei, executive vice president of Changan Automobile, as vice chairman. The JV's CEO will be Yang Fang, who is a veteran in auto industry in such areas as sales, market, R&D and strategy.

Changan and NIO will take a 45% stake in the JV respectively. The rest 10% stake will be held by senior executives and also will be used to attract talents.

In April, 2017, Changan Automobile and NIO signed a strategic cooperation agreement to cooperate in R&D, production, sales and service in intelligent new energy vehicle (NEV) field.

Apart from the cooperation with Changan, NIO also teamed up with GAC Group to set up GAC NIO New Energy Automotive Co., Ltd., which will be dedicated to the R&D, sales and services of intelligent connected NEVs. GAC and NIO respectively hold 45% and 55% stake of their JV.

William Li recently disclosed that the JVs co-developed by GAC and Changan will be operated with the same method as that of a startup. However, both GAC NIO and Changan NIO will cooperate in designing and development, sales, aftersales of products, as well as joint procurement of auto parts, but not will involve in vehicle manufacturing area.
 

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https://www.scmp.com/tech/big-tech/article/3029968/after-us5-billion-losses-chinas-tesla-challenger-nio-fights-survive
https://www.scmp.com/business/companies/article/3029936/after-raking-us5-billion-losses-four-years-chinas-tesla-wannabe

Excerpts:

...

Cost overruns, weak sales, and major recalls have led NIO to plunge 74 per cent since its market value hit a record US$11.9 billion about a year ago. More broadly, the company’s reversal of fortune illustrates why concerns are mounting that China created an electric-vehicle bubble that may be about to burst.

“This year and the next, there’s going to be a lot of card-shuffling for these EV startups,” said Siyi Mi, an analyst at Bloomberg NEF. “Before, venture capital chased after them, but it’s not the case any more.”
...

China has gradually scaled back subsidies for new-energy vehicles — all-electric, fuel-celled autos and plug-in hybrids — since 2017 to help the industry stand on its own two feet and avoid a bubble. That’s undermined growth, prompting the likes of top Chinese electric carmaker BYD to warn recently that earnings will wane.

At NIO, pressure is building for it to raise more funds. The carmaker is seeking to reduce its workforce by 14 per cent to 7,500 by the end of the month, according to the company. Incidents involving batteries catching fire or spewing smoke forced NIO to recall about 4,800 vehicles - more than 20 per cent of all the cars it’s ever sold. Second-quarter deliveries dropped from the preceding three-month period.

...

But money is in short supply for the carmaker, which is now counting on receiving as much as 10 billion yuan in funding from an investment firm backed by the Beijing city government.
...

“NIO didn’t position itself in the right place,” said Yale Zhang, founder and CEO of AutoForesight. “I’m not optimistic about its future in the long run.”
 

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The Chinese automaker surpassed General Motors!

With a market value of about $ 411 billion, Tesla is the world's most valuable automaker. The current value of General Motors, another American giant, is $ 51.6 billion. Of course, according to analysts, Tesla's value is bubbling and is likely to decline in the future, and other automakers will add value by producing more competitive products. One of these companies is Nio China, whose market value has now reached $ 53.4 billion.


In fact, the value of Nio China shares rose 28 percent last week due to increased demand for electric vehicles in China and the election of Joe Biden as President of the United States. The Nio ES8 long-wheelbase currently on the market in China is a direct competitor to the Tesla Model X, with 643 horsepower and a range of 500 km. The car will likely be available in other markets, including North America. The market value of Nio was very low until a few years ago, and the company was actually struggling financially. Apparently, these problems have been solved because the company was able to raise about $ 435 million. Nio also has a research and development center in Silicon Valley, USA, and its design studio is located in Munich, Germany. The company is headquartered in Shanghai, China.
 

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