Chinese EV maker NIO extends gains on upbeat delivery outlook for Q2

[TaiShang]

Chinese EV maker NIO extends gains on upbeat delivery outlook for Q2

CGTN - 05-Jun-2019

NIO Inc., a leading Chinese electric vehicle (EV) manufacturer, saw its shares reaping solid gains throughout Tuesday, after the company reported upbeat EV delivery readings for the first two months of the second quarter (Q2).

With 1,089 ES8s delivered in May, a total of 2,213 such EVs were delivered in April and May, the automaker said in a statement on Tuesday.

"With April and May deliveries completed, we now anticipate full second quarter ES8 deliveries to be near the top of, or to exceed, the company's prior guidance range of 2,800 to 3,200 quarterly deliveries," said William Li, founder, chairman and CEO of NIO.

Customers look on as a NIO Inc. EP9 sports car stands on display inside the Nio House showroom at the Shanghai Tower in Shanghai./ VCG Photo

Shares of NIO rose around 2.7 percent around market close. As of Tuesday, the New York Stock Exchange-listed firm has been valued at over 3.1 billion U.S. dollars in terms of market capitalization.

NIO began delivering the ES8, a 7-seater high-performance premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019.

As of May 31, aggregate deliveries of the ES8 reached 17,550 total vehicles.

"In light of the challenging macroeconomic and Chinese auto market backdrop, our team has been working to deepen our market penetration and expand our channels," Li added.

The company also announced that the ES6, a 5-seater high-performance premium electric SUV launched in December, is on schedule to commence deliveries to users later this month.

Founded in November 2014 and listed in the United States in September 2018, the Shanghai-based company designs, jointly manufactures, and sells smart and connected premium EVs.

https://news.cgtn.com/news/3d3d774d7745544d35457a6333566d54/index.html

@Kai Liu

 

[Kai Liu]

Chinese EV maker NIO extends gains on upbeat delivery outlook for Q2

CGTN - 05-Jun-2019

NIO Inc., a leading Chinese electric vehicle (EV) manufacturer, saw its shares reaping solid gains throughout Tuesday, after the company reported upbeat EV delivery readings for the first two months of the second quarter (Q2).

With 1,089 ES8s delivered in May, a total of 2,213 such EVs were delivered in April and May, the automaker said in a statement on Tuesday.

"With April and May deliveries completed, we now anticipate full second quarter ES8 deliveries to be near the top of, or to exceed, the company's prior guidance range of 2,800 to 3,200 quarterly deliveries," said William Li, founder, chairman and CEO of NIO.

Customers look on as a NIO Inc. EP9 sports car stands on display inside the Nio House showroom at the Shanghai Tower in Shanghai./ VCG Photo

Shares of NIO rose around 2.7 percent around market close. As of Tuesday, the New York Stock Exchange-listed firm has been valued at over 3.1 billion U.S. dollars in terms of market capitalization.

NIO began delivering the ES8, a 7-seater high-performance premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019.

As of May 31, aggregate deliveries of the ES8 reached 17,550 total vehicles.

"In light of the challenging macroeconomic and Chinese auto market backdrop, our team has been working to deepen our market penetration and expand our channels," Li added.

The company also announced that the ES6, a 5-seater high-performance premium electric SUV launched in December, is on schedule to commence deliveries to users later this month.

Founded in November 2014 and listed in the United States in September 2018, the Shanghai-based company designs, jointly manufactures, and sells smart and connected premium EVs.

https://news.cgtn.com/news/3d3d774d7745544d35457a6333566d54/index.html

@Kai Liu

Great progress. NIO represents the higher end. Together with the lower end EV brands, the future of EV will be dominated by China.

 

[TaiShang]

Great progress. NIO represents the higher end. Together with the lower end EV brands, the future of EV will be dominated by China.

Together with GAC, they have also formed a new brand: Hycan.

***

GAC NIO’s HYCAN sees prototype of first model roll off production line

Monika From Gasgoo| June 04 , 2019

Shanghai (Gasgoo)- HYCAN, a new EV brand launched by the joint venture GAC NIO, recently saw a prototype car of its first model roll off the production line. According to local media outlets, the mass-produced model is likely to be launched at the end of the year, and will be available for delivery in the first half of 2020.

(Concept of HYCAN's first model, photo source: offical WeChat account of HYCAN)

Although the prototype is heavily camouflaged, it still can be noticed that the “7”-shaped daytime running lights and the LED headlights whose relation to the concept displayed before is apparent at first glance.

As to the side profile, the “hidden” door handles, the upward-sloping waistlines, the floating roof as well as the window trims are in tune with the design for the concept, while the multi-spoke trims are one of visible nuances.

With an unmistakable rear end, the prototype still features the “7”-shaped taillights, echoing its front face.

The HYCAN-branded new model is said to boast a NEDC-rated range over 600km. However, specific details like vehicle measurement, power parameters and battery quality have been remained uncovered to date.

A half month ago, GAC NIO launched the all-new car brand HYCAN (an abbreviation of “here you can”, Chinese brand name is “Hechuang”) in Hangzhou. The concept of the new brand's first model was unveiled at the same time. According to GAC NIO’s CEO Liaobing, the mass-produced vehicle will be up to 90% similar to the concept.

http://autonews.gasgoo.com/china_news/70016015.html

 

[Hamartia Antidote]

Well it had some gains and was up at $3.1B
But now...

2.4200
-0.1000 (-3.97%)
At close: June 14 4:01PM EDT

Market Cap 2.483B