![]() Recently, Audi defeated NIO in court over the naming of its vehicles. Therefore, it seems like there is a bearish momentum, which will make it difficult for the stock to bounce back any time soon. It also managed to crash below the important support level at $11.71, which was the lowest level in May this year. This means that, ultimately, the company’s growth will slip in the coming months.įurther, from a technical perspective, the stock has been in a strong sell-off in the past few months. Some of the top competitors are BYD, Li Auto, and XPeng. Nio is now competing with more than 400 EV companies in China. First, competition in the EV industry is growing rapidly recently. ![]() There are several factors that could drag the Nio stock price lower in the coming months. However, its notable competitors like XPENG and Li Auto only spend 17.9% and 15.2%, respectively. In 2022, the company’s R&D spending remained at 20% of its revenue. NIO (NYSE: NIO) is also spending a lot on its R&D as compared to its competitors. We are very confident to achieve our sales target in 2023, Steven Feng – NIO CFO ![]() In his recent comments, NIO CFO Steven Feng seemed confident in achieving this year’s sales target. The addition will help boost sales amid growing competition. The company will also be increasing its vehicle lineup from six to eight models. The quarterly financials also showed an adjusted net loss of RMB 5065 million. NIO stock price got hit badly by the news as its downtrend intensified. According to this report, it incurred a net loss of 5,786 million Yuans during the 4th quarter. NIO recently released the financial results for Q4 2022. Nevertheless, the Chinese EV maker NIO adopted this mechanism which has significantly increased its spending. It is significant to note here that the power swap idea was discarded by Elon Musk in 2015. By 2025, Nio hopes to have over 4,000 battery swap stations globally, with over 1,000 overseas. The company has established more than 10 NIO battery swap stations in the EU.īy the end of this year, the EV company plans to have 120 power swap stations in the region. ![]() The company has also launched two swap stations in Norway, one of the biggest EV countries in the industry. It has already opened a battery swap station in Germany, where it expects to gain market share. Nio (NYSE: NIO) is also expanding its business in Europe. Nevertheless, NIO still remains optimistic about the future of the technology and intends to expand its battery-swap network globally. Tesla CEO Elon Musk has already discarded the idea after some consideration. It is worth mentioning here that NIO is only one of the few electric vehicle manufacturers betting big on battery-swapping technology. These charging stations could be ideal for long-distance travelers while also boosting the company’s revenue. The company has rolled out around 10 of its next-generations battery swap stations in China. This is expected to increase the revenue of the Chinese EV maker significantly. NIO Accelerates Development Of Battery-Swap StationsĪs per the latest NIO stock news, the company is accelerating the development of its network of battery swap stations. During the Chinese new year, the company completed 1 million power swaps. As per the latest stats from the company, till January 2023, NIO cumulative deliveries reached 298,062. These deliveries included 2,190 SUVs and 6,316 Sedans. In January 2023, NIO delivered a total of 8,506 vehicles. A total of 122,486 vehicles were delivered during 2022, which was a 34% increase from 2021. In Q4 2022, the company’s revenue surged to RMB 16,063 million, which was 62.2% higher than NIO’s 2021 profit during the same quarter. According to these results, NIO delivered 40,052 vehicles in the Q4 of 2022. recently released its unaudited financial results that cover Q4 and the whole of 2022. According to a recently conducted poll by Capital IQ, NIO has a target range of $6.66 to $19.87. However, JPMorgan has maintained its neutral outlook for the stock of the EV maker. The investment giant has increased its outlook from $8.5 to $9. Recently, JPMorgan has raised its price target for NIO shares.
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