Category: Nio

NIO to officially launch new ES6 on May 24, delivery to start next day

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, NIO said today.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) will officially launch the new ES6 SUV in China next Wednesday, and deliveries will begin the next day, making it the fastest model from launch to delivery.

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, the company announced today on its mobile app.

The model is available for pre-order now, and consumers who pay a RMB 5,000 ($720) pre-order deposit before its official launch and convert those payments into a non-refundable deposit by July 31 will receive a Moon-themed exterior package and orange caliper worth RMB 8,000 and NOP+ two years free access worth RMB 9,120.

NIO has not announced any more information about the new ES6 based on its latest NT 2.0 platform, and its pricing is expected to be known on May 24.

It is not clear whether NIO will hold an offline launch of the new ES6 or whether the model will be launched only at an online event.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: NIO)

NIO officially unveiled the 2023 ET7 sedan at a brief launch event on the first day of the Shanghai auto show on April 18, and allowed an improved version of the ES6 SUV based on the NT 2.0 platform to make its debut.

The older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

On May 11, NIO asked its community for opinions on the pricing of the new ES6, and a questionnaire at the time offered six options: under RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and above RMB 398,000.

For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The move underscores the high hopes it has for the model's sales prospects.

From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).

The new ES6 is now widely seen as being powerfully equipped and competitively priced, which has sparked discontent among some owners who previously purchased the ES7 SUV.

Last month, several ES7 owners formed a WeChat group to collectively express their dissatisfaction that the upcoming new ES6 means NIO has betrayed them.

NIO's announcement today of the launch date for the new ES6 confirms a rumor from earlier this month.

Local auto industry media D1EV reported on May 4 that the new ES6 will be officially launched on May 24, and that show cars of the model will be available in NIO stores starting on the launch day.

Compared to the old ES6, the new model will retain only the Sport version, and the previously available higher-priced Performance and Signature versions have been optimized to become the new ES7 model currently on sale, the report said.

($1 = RMB 6.9582)

NIO asks its community for advice on pricing of new ES6

The post NIO to officially launch new ES6 on May 24, delivery to start next day appeared first on CnEVPost.

For more articles, please visit CnEVPost.

NIO to officially launch new ES6 on May 24, delivery to start next day

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, NIO said today.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) will officially launch the new ES6 SUV in China next Wednesday, and deliveries will begin the next day, making it the fastest model from launch to delivery.

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, the company announced today on its mobile app.

The model is available for pre-order now, and consumers who pay a RMB 5,000 ($720) pre-order deposit before its official launch and convert those payments into a non-refundable deposit by July 31 will receive a Moon-themed exterior package and orange caliper worth RMB 8,000 and NOP+ two years free access worth RMB 9,120.

NIO has not announced any more information about the new ES6 based on its latest NT 2.0 platform, and its pricing is expected to be known on May 24.

It is not clear whether NIO will hold an offline launch of the new ES6 or whether the model will be launched only at an online event.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: NIO)

NIO officially unveiled the 2023 ET7 sedan at a brief launch event on the first day of the Shanghai auto show on April 18, and allowed an improved version of the ES6 SUV based on the NT 2.0 platform to make its debut.

The older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

On May 11, NIO asked its community for opinions on the pricing of the new ES6, and a questionnaire at the time offered six options: under RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and above RMB 398,000.

For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The move underscores the high hopes it has for the model's sales prospects.

From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).

The new ES6 is now widely seen as being powerfully equipped and competitively priced, which has sparked discontent among some owners who previously purchased the ES7 SUV.

Last month, several ES7 owners formed a WeChat group to collectively express their dissatisfaction that the upcoming new ES6 means NIO has betrayed them.

NIO's announcement today of the launch date for the new ES6 confirms a rumor from earlier this month.

Local auto industry media D1EV reported on May 4 that the new ES6 will be officially launched on May 24, and that show cars of the model will be available in NIO stores starting on the launch day.

Compared to the old ES6, the new model will retain only the Sport version, and the previously available higher-priced Performance and Signature versions have been optimized to become the new ES7 model currently on sale, the report said.

($1 = RMB 6.9582)

NIO asks its community for advice on pricing of new ES6

The post NIO to officially launch new ES6 on May 24, delivery to start next day appeared first on CnEVPost.

For more articles, please visit CnEVPost.

NIO to officially launch new ES6 on May 24, delivery to start next day

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, NIO said today.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) will officially launch the new ES6 SUV in China next Wednesday, and deliveries will begin the next day, making it the fastest model from launch to delivery.

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, the company announced today on its mobile app.

The model is available for pre-order now, and consumers who pay a RMB 5,000 ($720) pre-order deposit before its official launch and convert those payments into a non-refundable deposit by July 31 will receive a Moon-themed exterior package and orange caliper worth RMB 8,000 and NOP+ two years free access worth RMB 9,120.

NIO has not announced any more information about the new ES6 based on its latest NT 2.0 platform, and its pricing is expected to be known on May 24.

It is not clear whether NIO will hold an offline launch of the new ES6 or whether the model will be launched only at an online event.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: NIO)

NIO officially unveiled the 2023 ET7 sedan at a brief launch event on the first day of the Shanghai auto show on April 18, and allowed an improved version of the ES6 SUV based on the NT 2.0 platform to make its debut.

The older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

On May 11, NIO asked its community for opinions on the pricing of the new ES6, and a questionnaire at the time offered six options: under RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and above RMB 398,000.

For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The move underscores the high hopes it has for the model's sales prospects.

From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).

The new ES6 is now widely seen as being powerfully equipped and competitively priced, which has sparked discontent among some owners who previously purchased the ES7 SUV.

Last month, several ES7 owners formed a WeChat group to collectively express their dissatisfaction that the upcoming new ES6 means NIO has betrayed them.

NIO's announcement today of the launch date for the new ES6 confirms a rumor from earlier this month.

Local auto industry media D1EV reported on May 4 that the new ES6 will be officially launched on May 24, and that show cars of the model will be available in NIO stores starting on the launch day.

Compared to the old ES6, the new model will retain only the Sport version, and the previously available higher-priced Performance and Signature versions have been optimized to become the new ES7 model currently on sale, the report said.

($1 = RMB 6.9582)

NIO asks its community for advice on pricing of new ES6

The post NIO to officially launch new ES6 on May 24, delivery to start next day appeared first on CnEVPost.

For more articles, please visit CnEVPost.

NIO to officially launch new ES6 on May 24, delivery to start next day

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, NIO said today.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) will officially launch the new ES6 SUV in China next Wednesday, and deliveries will begin the next day, making it the fastest model from launch to delivery.

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, the company announced today on its mobile app.

The model is available for pre-order now, and consumers who pay a RMB 5,000 ($720) pre-order deposit before its official launch and convert those payments into a non-refundable deposit by July 31 will receive a Moon-themed exterior package and orange caliper worth RMB 8,000 and NOP+ two years free access worth RMB 9,120.

NIO has not announced any more information about the new ES6 based on its latest NT 2.0 platform, and its pricing is expected to be known on May 24.

It is not clear whether NIO will hold an offline launch of the new ES6 or whether the model will be launched only at an online event.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: NIO)

NIO officially unveiled the 2023 ET7 sedan at a brief launch event on the first day of the Shanghai auto show on April 18, and allowed an improved version of the ES6 SUV based on the NT 2.0 platform to make its debut.

The older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

On May 11, NIO asked its community for opinions on the pricing of the new ES6, and a questionnaire at the time offered six options: under RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and above RMB 398,000.

For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The move underscores the high hopes it has for the model's sales prospects.

From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).

The new ES6 is now widely seen as being powerfully equipped and competitively priced, which has sparked discontent among some owners who previously purchased the ES7 SUV.

Last month, several ES7 owners formed a WeChat group to collectively express their dissatisfaction that the upcoming new ES6 means NIO has betrayed them.

NIO's announcement today of the launch date for the new ES6 confirms a rumor from earlier this month.

Local auto industry media D1EV reported on May 4 that the new ES6 will be officially launched on May 24, and that show cars of the model will be available in NIO stores starting on the launch day.

Compared to the old ES6, the new model will retain only the Sport version, and the previously available higher-priced Performance and Signature versions have been optimized to become the new ES7 model currently on sale, the report said.

($1 = RMB 6.9582)

NIO asks its community for advice on pricing of new ES6

The post NIO to officially launch new ES6 on May 24, delivery to start next day appeared first on CnEVPost.

For more articles, please visit CnEVPost.

NIO to officially launch new ES6 on May 24, delivery to start next day

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, NIO said today.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) will officially launch the new ES6 SUV in China next Wednesday, and deliveries will begin the next day, making it the fastest model from launch to delivery.

The new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries starting on May 25, the company announced today on its mobile app.

The model is available for pre-order now, and consumers who pay a RMB 5,000 ($720) pre-order deposit before its official launch and convert those payments into a non-refundable deposit by July 31 will receive a Moon-themed exterior package and orange caliper worth RMB 8,000 and NOP+ two years free access worth RMB 9,120.

NIO has not announced any more information about the new ES6 based on its latest NT 2.0 platform, and its pricing is expected to be known on May 24.

It is not clear whether NIO will hold an offline launch of the new ES6 or whether the model will be launched only at an online event.

NIO to officially launch new ES6 on May 24, delivery to start next day-CnEVPost

(Image credit: NIO)

NIO officially unveiled the 2023 ET7 sedan at a brief launch event on the first day of the Shanghai auto show on April 18, and allowed an improved version of the ES6 SUV based on the NT 2.0 platform to make its debut.

The older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

On May 11, NIO asked its community for opinions on the pricing of the new ES6, and a questionnaire at the time offered six options: under RMB 368,000, RMB 368,000, RMB 378,000, RMB 338,000, RMB 398,000, and above RMB 398,000.

For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The move underscores the high hopes it has for the model's sales prospects.

From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).

The new ES6 is now widely seen as being powerfully equipped and competitively priced, which has sparked discontent among some owners who previously purchased the ES7 SUV.

Last month, several ES7 owners formed a WeChat group to collectively express their dissatisfaction that the upcoming new ES6 means NIO has betrayed them.

NIO's announcement today of the launch date for the new ES6 confirms a rumor from earlier this month.

Local auto industry media D1EV reported on May 4 that the new ES6 will be officially launched on May 24, and that show cars of the model will be available in NIO stores starting on the launch day.

Compared to the old ES6, the new model will retain only the Sport version, and the previously available higher-priced Performance and Signature versions have been optimized to become the new ES7 model currently on sale, the report said.

($1 = RMB 6.9582)

NIO asks its community for advice on pricing of new ES6

The post NIO to officially launch new ES6 on May 24, delivery to start next day appeared first on CnEVPost.

For more articles, please visit CnEVPost.

NIO EC7 and ET5 wait times get slightly longer

Wait times for the EC7 have changed from about 5 weeks to 5-7 weeks, and for the ET5 from about 2 weeks to 2-3 weeks.

NIO EC7 and ET5 wait times get slightly longer-CnEVPost

(Image credit: CnEVPost)

NIO's (NYSE: NIO) EC7 coupe SUV and the ET5 sedan saw slightly longer wait times in China after the information for the ES7 SUV saw a similar change a week ago.

The EC7's current expected delivery date is 5-7 weeks, up from about 5 weeks previously, information from the NIO App monitored by CnEVPost shows.

The last change in the model's wait time information was on April 28, when it changed from about 4 weeks to about 5 weeks.

The EC7 was launched on NIO Day 2022, December 24, 2022, and NIO announced plans at the time that deliveries of the EC7 would begin in May.

On April 28, NIO EC7 started delivery, slightly ahead of the original plan.

The EC7 is NIO's second coupe SUV after the EC6, with a wind resistance coefficient of only 0.23 Cd, which NIO said is the lowest among mass-produced SUVs worldwide.

In addition to the EC7, the ET5 also has a slightly longer wait time.

The current expected delivery date for the ET5 is 2-3 weeks, slightly higher than the previous time of about 2 weeks. On April 10, the wait time for the sedan was reduced from about 3 weeks to about 2 weeks.

NIO EC7 and ET5 wait times get slightly longer-CnEVPost

NIO's website and app currently showcase seven models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, and ET5.

In the vehicle configurator of the NIO App, there are 5 models available -- new ES8, ES7, EC7, ET7, ET5. The configurator of the new ES6 and EC6 based on the NT 1.0 platform is not available.

Wait time information for all other NIO models remains unchanged, with the new ES8 still showing deliveries expected to begin in June, the ES7 wait time at about 4 weeks, and the ET7 at about 3 weeks.

The last change in wait times for NIO models was on May 9, when the expected delivery date for the ES7 went from about 3 weeks to about 4 weeks.

NIO model wait time update: EC7 and ET5 become longer

The post NIO EC7 and ET5 wait times get slightly longer appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Singapore’s deputy PM visits NIO House in Shanghai

NIO is building a R&D Center in Singapore, where it looks into smart power solutions & autonomous driving technologies, said Lawrence Wong.

Singapore's deputy PM visits NIO House in Shanghai-CnEVPost

A Singaporean deputy prime minister visited a NIO House in Shanghai today, the first senior local official to visit the electric vehicle (EV) maker since it went public on the country's stock market.

Lawrence Wong, Singapore’s Deputy Prime Minister and Minister for Finance, tweeted today that he visited NIO and saw its next-generation battery technology.

"NIO is building a R&D Center in SG, where it looks into smart power solutions & autonomous driving technologies. Had a fruitful conversation & I wish NIO all the best in its EV journey in SG," Wong wrote.

Wong shared a picture that shows William Li, the founder, chairman and CEO of NIO, accompanying him on his tour.

"NIO team is honored to welcome Singapore Deputy Prime Minister and Minister for Finance Mr. Lawrence Wong and Singaporean government officials for a visit and further discussion at NIO House | Shanghai Tower today," the EV company said in a retweet.

On May 20, 2022, NIO was listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST), becoming the first Chinese automaker to list in three locations.

NIO announced at the time that it would establish an artificial intelligence and autonomous driving R&D center in Singapore. The company has already established R&D centers in Beijing, Shanghai, San Jose, USA, and Europe.

"We will also leverage Singapore's advantageous position as an international financial and technology center. By collaborating with science and research institutions and establishing NIO's R&D center for AI and AD in Singapore, we will further broaden and enhance our global R&D footprint," Li said at the time.

NIO made a secondary listing in Hong Kong by way of introduction on March 10, 2022, and the listing in Singapore was its second secondary listing.

NIO is currently down 2.89 percent to S$8.07 in Singapore. It closed down 2.46 percent to HK$63.50 in Hong Kong today.

NIO makes its debut on Singapore's stock market

The post Singapore's deputy PM visits NIO House in Shanghai appeared first on CnEVPost.

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NIO exceeds 1,400 swap stations in China

NIO's 1,400th battery swap station in China was built with German retail giant METRO, and the two have built a total of 21 such facilities together to date.

NIO exceeds 1,400 swap stations in China-CnEVPost

(Image credit: NIO)

NIO (NYSE: NIO) has surpassed 1,400 battery swap stations in China, as deployment of its third generation of the facility accelerates.

The electric vehicle (EV) maker today put eight new battery swap stations into operation, bringing the total to 1,403, with 374 of them located along highways, according to an article it posted today on the NIO App.

NIO's 1,400th battery swap station in China is located next to a store of German retail giant METRO in Shanghai, and is the 61st third-generation battery swap station of the EV maker.

The partnership between NIO and METRO began two years ago when the two signed a strategic cooperation agreement on March 29, 2021, to collaborate on the construction of charging stations and battery swap stations.

To date, 21 battery swap stations have been jointly built by the two companies, NIO said today.

NIO exceeds 1,400 swap stations in China-CnEVPost

NIO's owners have used battery swap services more than 22 million times, averaging nearly 50,000 times a day, and on average, a vehicle receives a fully charged battery from a battery swap station every 1.9 seconds, NIO said.

In addition to providing replenishment services, these battery swap stations have provided a total of 76,131 battery upgrades to owners, according to the article.

NIO allows owners to upgrade their standard-range battery packs to 100 kWh long range packs on a monthly, annual, or permanent basis.

NIO exceeds 1,400 swap stations in China-CnEVPost

On March 3, NIO began offering incentives to encourage owners to upgrade their battery packs to long-range ones.

At the NIO Day 2022 event on December 24, 2022, NIO's third-generation battery swap station was launched, capable of storing up to 21 packs, up from 13 in its previous generation and 5 in the first generation of that facility.

NIO announced plans at the time to add 400 battery swap stations in 2023, though that plan was raised to 1,000 on February 21.

William Li, NIO's founder, chairman and CEO, said at the time that the company would further accelerate the deployment of battery swap stations, with a goal of having more than 2,300 battery swap stations in China by the end of 2023.

NIO's first 10 third-generation battery swap stations went live in 10 Chinese cities on April 12.

On April 18, Li said on the first day of the Shanghai auto show that NIO will add about 200 battery swap stations every month starting in June.

As of May 15, NIO also had 2,580 charging stations in China, offering 15,312 charging piles. The company's charging map has access to more than 7,000,000 third-party charging stations.

NIO swap station count update: 8 added, total 1,403

The post NIO exceeds 1,400 swap stations in China appeared first on CnEVPost.

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NIO ET5 touring spotted in real life in China uncamouflaged

The NIO ET5 touring with a green exterior is seen for the first time. Yellow and blue versions of the model have already been seen in Europe, while the black version appeared in a regulatory filing in China.

The NIO ET5 touring is on the streets of China without camouflage, after the model was seen in Europe in recent days.

A WeChat user shared three images of the NIO ET5 touring without camouflage in a group chat where CnEVPost is present, showing a green version of the model.

This is the first time the NIO ET5 touring with a green exterior has been seen. Yellow and blue versions of the model have already been seen in Europe, while the black version appeared in a regulatory filing in China.

It is not clear in which Chinese city the NIO ET5 touring was photographed, and the temporary number plate affixed to its rear window is illegible.

On March 9, China's Ministry of Industry and Information Technology announced the latest batch of models that will be allowed to be sold in China, and the NIO ET5 touring was included.

The model in the catalog was in black exterior and has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm, respectively, and a wheelbase of 2,888 mm, in line with the regular ET5 sedan.

The NIO ET5 touring is equipped with dual motors produced by NIO's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.

On May 9, CnEVPost obtained two spy shots of the NIO ET5 touring, showing the model on the streets of Europe, with the yellow color exclusive to the ET5 sedan sold in China.

On May 12, auto blogger Delu shared multiple images of a blue NIO ET5 touring on the NIO App, saying that NIO was filming a promotional video for the model in Norway.

The NIO ET5 touring is expected to make its official debut in Europe in June, with the launch in China likely to come a little later.

NIO co-founder and president Qin Lihong said in January that this variant of the ET5 would debut in Europe, where the model was developed primarily for European consumers.

Derivatives of sedans have been a niche market in China, and few car companies have tried to tap into it before.

's electric vehicle (EV) brand unveiled its first model, the Zeekr 001, on April 15, 2021, the first such model released by a local brand, with deliveries starting in October 2021.

The Zeekr 001 was an unexpected success in China, with 71,941 units delivered in the full year 2022.

Zeekr positions the Zeekr 001 as a shooting brake sedan, while NIO emphasizes that this NIO ET5 variant is a touring model.

NIO filming ET5 touring promo in Norway, more images revealed

The post NIO ET5 touring spotted in real life in China uncamouflaged appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Largest US pension cuts stake in NIO, liquidates Li Auto in Q1

CalPERS liquidated its position in in the third quarter of 2022.

The largest US public pension continued to trim its investment in Chinese electric vehicle (EV) stocks in the first quarter.

The California Public Employees' Retirement System (CalPERS) owned 2,210,446 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F report dated May 12.

This is down 390,806 shares, or 15.02 percent, from 2,601,252 at the end of the fourth quarter of 2022.

The pension's holdings in NIO were worth $23.23 million at the end of the first quarter, down 8.4 percent from 25.36 million at the end of the fourth quarter.

CalPERS now has about $440 billion in assets under management and is the largest public pension in the US. It opened a position in NIO in the first quarter of 2019, when it bought 140,451 shares. NIO went public in the US on September 12, 2018.

CalPERS cut its position in NIO by 10.79 percent in the fourth quarter of last year. The value of the pension's holdings in NIO fell 44.85 percent during the fourth quarter due to a large drop in NIO's stock price during the period.

In the third quarter of 2022, CalPERS liquidated its position in XPeng (NYSE: XPEV) while increasing its stake in NIO by 18.20 percent. As of the end of the first quarter, it still did not own any XPeng shares.

The pension liquidated its position in , another Chinese EV company, in the first quarter.  CalPERS held 1,136,298 shares of Li Auto at the end of the fourth quarter last year.

NIO, XPeng and Li Auto all rose in the first quarter, up 7.79 percent, 9.14 percent and 22.3 percent, respectively.

Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng-CnEVPost

Several prominent hedge funds reduced their positions in these three Chinese EV companies in the first quarter.

Bridgewater reduced its holdings in NIO by 40.53 percent, XPeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter, according to Friday's Form 13F.

Renaissance cut its position in NIO by 0.16 percent, XPeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.

Bridgewater cuts positions in NIO, XPeng, Li Auto in Q1

The post Largest US pension cuts stake in NIO, liquidates Li Auto in Q1 appeared first on CnEVPost.

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