Nio officially unveils 3rd brand Firefly, debut model to begin deliveries in H1 2025
Firefly is positioned in the boutique compact car market and leverages existing sales channels to drive growth, Nio said in a statement.
Nio Q3 earnings call: Sales and profitability targets, new model plans, and more
Nio is confident of doubling sales next year and aims to be profitable by 2026. The third brand is officially named Firefly and its first model will begin deliveries in the first half of 2025.
Nio posts lower-than-expected Q3 revenue, gross margin improves
Nio reported weaker-than-expected revenue in the third quarter, which was also below its guidance range. It reported a net loss that was flat from the second quarter, with gross margin improving to 10.7 percent.
China NEV retail at 581,000 in Nov 1-17, up 7% from same period last month
Retail sales of all passenger cars in China totaled 1.11 million units in the November 1-17 period, up 30 percent from a year earlier and up 3 percent from a month earlier.
China to have 3.6 million public chargers by end of 2024, nearly 70% of global total, says TrendForce
Global public EV charging pile deployment is constrained by land availability and grid planning, compounded by slowing NEV market growth, TrendForce said.
China BEV export growth to slow this year on EU tariffs and lower demand, says Canalys
China's export growth for BEVs is expected to slow to 9 percent this year, with its contribution to passenger car exports falling to 19.0 percent in 2024 from 22.5 percent in 2023, Canalys said.
CATL in talks to set up battery recycling operations in Europe
CATL is in talks to set up a battery recycling business in Europe, discussing possible plant sites with European governments including Hungary, according to Bloomberg.
Huawei's HIMA unit to double model offerings in 2025 with Aito M8 to rival Li L9, report says
HIMA's available models will exceed 10 next year, and one of the key models will be the Aito M8, which will compete with Li Auto's Li L9.
China starts pilot transportation of EV batteries by rail with participation of CATL, BYD
Currently 90 percent of China's power batteries are transported by road, and rail transportation is expected to reduce costs and improve efficiency.
Xpeng Q3 revenue beats estimates, gross margin hits record high
Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations.
