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That will be achieved through new models, expanding the company's charging and battery swap network, and unlocking self-driving technology, the NIO CFO said. | NIO US | NIO HK | NIO SG
An NIO (NYSE: NIO) executive re-emphasized the electric vehicle (EV) maker's confidence that it will meet its goal of doubling sales this year, at a time when the Chinese auto industry has been weak overall so far this year.
"We are very confident to achieve our sales target in 2023," NIO CFO Steven Feng said in an interview with Bloomberg TV today.
That will be achieved through new models, expanding the company's charging and battery swap network, and unlocking self-driving technology, Feng said.
NIO delivered a total of 122,486 vehicles in 2022, up 34 percent from 91,429 vehicles in 2021.
William Li, the company's founder, chairman and CEO, said during a March 1 analyst call after NIO reported its fourth-quarter earnings that the company aims to see sales double this year compared with last year.
"Our team is very confident in that," Li said at the time.
If raw material prices fall in line with current trends, and without considering the investment in innovative businesses, NIO could still be profitable in the fourth quarter of this year, Li said earlier.
Feng mentioned in the interview with Bloomberg TV today that the company is "confident" of breaking even at the group level next year.
Strong revenue growth and tighter expenses are key to improving profitability, he said.
Feng also mentioned the ongoing price war in the auto industry in the interview, saying it showed there were too many carmakers in China.
"We expect the industry to go through some profound consolidation," Feng said."It's almost consensus that China now has too many automakers, but we have no plan to buy anyone."
NIO's shares traded in Hong Kong surged in early trading today, rising more than 7 percent to HK$74.25 at press time, bringing its gains over the past two days to about 17 percent.
Sales performance in China's auto market has been weak overall so far this year, with cumulative retail sales of all passenger vehicles from January to February at 2.68 million units, down 19.8 percent year-on-year, according to data released earlier this month by the China Passenger Car Association (CPCA).
Retail sales of NEVs in China in the first two months were 770,000 units, up 23.31 percent year-on-year.
China's auto market remained weak heading into March, and the ongoing price war has brought disruptions to the sector.
In terms of insurance registrations, China's passenger car sales for the month were 630,000 units as of March 19, down 2.53 percent year-on-year, according to data monitored by CnEVPost.
Among them, insurance registrations of NEVs for the month were 220,000 units, up 12.34 percent year-on-year.
China NEV insurance registrations for week ending Mar 19: BYD 38,414, Tesla 18,712, NIO 1,775
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NIO and Li Auto are already using Nvidia DRIVE Orin chips in their smart driving systems, with NIO even having its third-generation battery swap stations equipped with two of the chips. | BYDDY.US | BYD HK
(Image credit: Nvidia)
BYD (OTCMKTS: BYDDY) will use Nvidia's DRIVE Orin chips in its next-generation models, making it the latest Chinese new energy vehicle (NEV) maker to use the US chip giant's smart-driving chips.
Nvidia is enhancing its partnership with BYD, which will use the DRIVE Orin system-on-chip (SoC) across the multiple models of its next-generation Dynasty and Ocean series vehicles, according to a press release from the US chip giant yesterday.
Nvidia and BYD share the belief that future cars will be programmable, evolving from being based on many embedded controllers to high-performance centralized computers -- with functionalities delivered and enhanced through software updates over the life of the car, the release said.
Nvidia's press release provided no further details on BYD's plans to use the DRIVE Orin chips. BYD's product matrix includes the Dynasty and Ocean series, with dozens of models.
Several Chinese electric vehicle (EV) makers are already using Nvidia's DRIVE Orin chips to power the vehicles' assisted driving systems.
All of NIO's (NYSE: NIO) models based on the latest NT 2.0 platform come standard with the NIO Adam supercomputer, which is built on four DRIVE Orin chips and has more than 1,000 TOPS of computing power.
Orin is the world's highest-performance, most advanced processor for self-driving vehicles and robots, offering up to 254 TOPS to handle a large number of applications and deep neural networks running simultaneously in autonomous vehicles and robots, Nvidia said following the launch of NIO ET5 in late 2021.
In addition to using the DRIVE Orin chip in vehicles, NIO is equipping the third-generation battery swap station with 2 Nvidia Orin chips for a total computing power of 508 TOPS.
Li Auto (NASDAQ: LI) also uses two Nvidia Orin X chips in its AD Max smart driving system, and its AD Pro system uses the Journey 5 chips from local Chinese supplier Horizon Robotics.
Back to BYD, the NEV maker announced on March 23 last year that it had entered into a partnership with Nvidia on smart driving technology to equip some of its NEVs with the Nvidia DRIVE Hyperion platform for smart driving and smart parking of vehicles starting in the first half of 2023.
BYD's NEVs will use the Nvidia DRIVE Orin chip as a centralized computing and AI engine for autonomous driving and smart cockpit features, according to the company's press release at the time.
On January 4 of this year, BYD announced that it was working with Nvidia to bring Nvidia GeForce NOW cloud gaming streaming to its vehicles.
BYD is the largest NEV maker in China, selling 1,863,494 NEVs in 2022, up 208.64 percent year-on-year.
The company sold 193,655 NEVs in February, up 27.96 percent from 151,341 units in January and 119.36 percent from 88,283 units a year earlier, data it released earlier in the month showed.
BYD working with Nvidia to bring GeForce NOW cloud gaming to its vehicles
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For more articles, please visit CnEVPost.
NIO and Li Auto are already using Nvidia DRIVE Orin chips in their smart driving systems, with NIO even having its third-generation battery swap stations equipped with two of the chips. | BYDDY.US | BYD HK
(Image credit: Nvidia)
BYD (OTCMKTS: BYDDY) will use Nvidia's DRIVE Orin chips in its next-generation models, making it the latest Chinese new energy vehicle (NEV) maker to use the US chip giant's smart-driving chips.
Nvidia is enhancing its partnership with BYD, which will use the DRIVE Orin system-on-chip (SoC) across the multiple models of its next-generation Dynasty and Ocean series vehicles, according to a press release from the US chip giant yesterday.
Nvidia and BYD share the belief that future cars will be programmable, evolving from being based on many embedded controllers to high-performance centralized computers -- with functionalities delivered and enhanced through software updates over the life of the car, the release said.
Nvidia's press release provided no further details on BYD's plans to use the DRIVE Orin chips. BYD's product matrix includes the Dynasty and Ocean series, with dozens of models.
Several Chinese electric vehicle (EV) makers are already using Nvidia's DRIVE Orin chips to power the vehicles' assisted driving systems.
All of NIO's (NYSE: NIO) models based on the latest NT 2.0 platform come standard with the NIO Adam supercomputer, which is built on four DRIVE Orin chips and has more than 1,000 TOPS of computing power.
Orin is the world's highest-performance, most advanced processor for self-driving vehicles and robots, offering up to 254 TOPS to handle a large number of applications and deep neural networks running simultaneously in autonomous vehicles and robots, Nvidia said following the launch of NIO ET5 in late 2021.
In addition to using the DRIVE Orin chip in vehicles, NIO is equipping the third-generation battery swap station with 2 Nvidia Orin chips for a total computing power of 508 TOPS.
Li Auto (NASDAQ: LI) also uses two Nvidia Orin X chips in its AD Max smart driving system, and its AD Pro system uses the Journey 5 chips from local Chinese supplier Horizon Robotics.
Back to BYD, the NEV maker announced on March 23 last year that it had entered into a partnership with Nvidia on smart driving technology to equip some of its NEVs with the Nvidia DRIVE Hyperion platform for smart driving and smart parking of vehicles starting in the first half of 2023.
BYD's NEVs will use the Nvidia DRIVE Orin chip as a centralized computing and AI engine for autonomous driving and smart cockpit features, according to the company's press release at the time.
On January 4 of this year, BYD announced that it was working with Nvidia to bring Nvidia GeForce NOW cloud gaming streaming to its vehicles.
BYD is the largest NEV maker in China, selling 1,863,494 NEVs in 2022, up 208.64 percent year-on-year.
The company sold 193,655 NEVs in February, up 27.96 percent from 151,341 units in January and 119.36 percent from 88,283 units a year earlier, data it released earlier in the month showed.
BYD working with Nvidia to bring GeForce NOW cloud gaming to its vehicles
The post BYD to use Nvidia Orin chips in its next-gen EV models appeared first on CnEVPost.
For more articles, please visit CnEVPost.
