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NIO Inc ADR NIO Stock Quote

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Morningstar‘s Stock Analysis NIO

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Competition Pressure Heating Up in China EV Space; We Prefer Nio and BYD-H

Vincent Sun Equity Analyst

Analyst Note

| Vincent Sun |

We see intensifying price pressure in China's new energy vehicle, or NEV, market, especially in the mass-market and entry-level premium segments. After Tesla’s late October China price cuts, several automakers followed suit, offering direct discounts, insurance rebates, and other incentives. Coupled with the national subsidy expiring in 2023, we anticipate the CNY 150,000-CNY 300,000 price segment to face greater competition. With such a backdrop, we maintain our preference for Nio for its premium brand positioning and BYD for its strong plug-in hybrid model lineup.

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Key Statistics NIO

Company Profile NIO

Business Description

Nio is a leading electric vehicle maker targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations such as battery swapping and autonomous driving technologies. Nio launched the first model, its ES8 seven-seater electric SUV in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold over 91,000 EVs in 2021, accounting for about 2.7% of the China passenger new energy vehicle market.

No. 56 AnTuo Road, Building 20, Anting Town
Shanghai, 201804, China, People's Republic of
T +86 2169082018
Industry Auto Manufacturers
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 15,204

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