Category: Nio

NIO ES7 and ET5 wait times become shorter

Wait times for both the ES7 and ET5 are now around 3 weeks, compared to 4-6 weeks and 3-4 weeks respectively.  |  NIO US | NIO HK | NIO SG

(From left to right: EC7, EC6, ET7, ET5. Screenshot on March 28.)

NIO's (NYSE: NIO) ES7 SUV and ET5 sedan have slightly shorter wait times in China, after the expected delivery dates for the two models became longer half a month ago.

The NIO ES7 now has an expected delivery date of about 3 weeks, down from the previous 4-6 weeks, information from the NIO App monitored by CnEVPost shows.

NIO ET5 also has a current expected delivery date of about 3 weeks, down from 3-4 weeks previously.

On March 14, the wait time for the ES7 went from about 3 weeks to 4-6 weeks, and the ET5 went from 2-3 weeks to 3-4 weeks.

NIO App is currently showing eight models, including the ES8, ES6, and EC6 based on the NT 1.0 platform, and the new ES8, ES7, EC7, ET7, and ET5 based on the NT 2.0 platform.

The EC7 and the new ES8 were unveiled at NIO Day 2022 held on December 24, 2022, and deliveries will begin in May and June, respectively.

The wait time information is unchanged today for all models except for the ES7 and ET5.

The NIO App stopped showing the expected delivery time for the ET7 on March 13, and that information is still not displayed.

Late last night, a local media report said that the current NIO ET7 has been discontinued and its annual facelift may be unveiled during the Shanghai auto show next month.

The current ET7 has some minor interior issues, and the revamped version will be optimized and will also further enhance the quality of the interior, D1EV quoted a salesperson at an NIO store in Beijing as saying.

NIO is no longer accepting customized orders for the ET7, and consumers who buy the model now will only have the option of available stock cars, the report said.

(From left to right: All-new ES8, old ES8, ES7, ES6. Screenshot on March 28.)

NIO stops ET7 production, to launch facelift this year, report says

Changes in wait times for NIO models

DateModelPrevChangeLatest
03/28/23ET5 (NT 2.0)3-4 weeks↓About 3 weeks
03/28/23ES7 (NT 2.0)4-6 weeks↓About 3 weeks
03/14/23ET5 (NT 2.0)2-3 weeks↑3-4 weeks
03/14/23ES7 (NT 2.0)About 3 weeks↑4-6 weeks
03/13/23ET7 (NT 2.0)About 3 weeksNAStop showing
02/14/23ES7 (NT 2.0)3-4 weeks↓About 3 weeks
02/14/23ET7 (NT 2.0)3-4 weeks↓About 3 weeks
02/14/23ET5 (NT 2.0)About 3 weeks↓2-3 weeks
02/6/23ET5 (NT 2.0)3-4 weeks↓About 3 weeks
01/28/23ES7 (NT 2.0)2-3 weeks↑3-4 weeks
01/28/23ET7 (NT 2.0)2-3 weeks↑3-4 weeks
01/28/23ET5 (NT 2.0)7-9 weeks↓3-4 weeks
01/11/23ET5 (NT 2.0)8-10 weeks↓7-9 weeks
01/5/23ET5 (NT 2.0)9-11 weeks↓8-10 weeks
12/29/22ET5 (NT 2.0)10-12 weeks↓9-11 weeks
12/22/22ET5 (NT 2.0)12-14 weeks↓10-12 weeks
12/20/22ES7 (NT 2.0)4-6 weeks↓2-3 weeks
12/13/22ET5 (NT 2.0)13-15 weeks↓12-14 weeks
12/13/22ET7 (NT 2.0)About 2 weeks↑2-3 weeks
12/13/22EC6 (NT 1.0)About 2 weeksNAStop showing
12/2/22ET5 (NT 2.0)21-23 weeks↓13-15 weeks
11/25/22ES7 (NT 2.0)7-9 weeks↓4-6 weeks
11/25/22ET7 (NT 2.0)3-5 weeks↓About 2 weeks
11/23/22ES8 (NT 1.0)About 2 weeksNAStop showing
11/16/22ET7 (NT 2.0)4-6 weeks↓3-5 weeks
11/10/22ES8 (NT 1.0)2-3 weeks↓About 2 weeks
11/10/22ES6 (NT 1.0)2-3 weeks↓About 2 weeks
11/10/22EC6 (NT 1.0)2-3 weeks↓About 2 weeks
11/3/22ES7 (NT 2.0)11-13 weeks↓7-9 weeks
11/3/22ET7 (NT 2.0)6-8 weeks↓4-6 weeks
11/3/22ES8 (NT 1.0)2-4 weeks↓2-3 weeks
11/3/22ES6 (NT 1.0)2-4 weeks↓2-3 weeks
11/3/22EC6 (NT 1.0)2-4 weeks↓2-3 weeks
10/31/22ES7 (NT 2.0)12-14 weeks↓11-13 weeks
10/31/22ES8 (NT 1.0)3-5 weeks↓2-4 weeks
10/31/22ES6 (NT 1.0)3-5 weeks↓2-4 weeks
10/31/22EC6 (NT 1.0)3-5 weeks↓2-4 weeks
10/21/22ES7 (NT 2.0)13-15 weeks↓12-14 weeks
10/21/22ET7 (NT 2.0)11-13 weeks↓6-8 weeks
10/21/22ET5 (NT 2.0)21-23 weeksNAStop showing
10/21/22ES8 (NT 1.0)4-6 weeks↓3-5 weeks
10/21/22ES6 (NT 1.0)4-6 weeks↓3-5 weeks
10/21/22EC6 (NT 1.0)4-6 weeks↓3-5 weeks

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NIO stops ET7 production, to launch facelift this year, report says

A revamped version of the ET7 is expected to be optimized for exterior and interior details and will likely be unveiled during the Shanghai auto show, according to a local media report.

(Image credit: CnEVPost)

NIO (NYSE: NIO) is rumored to have stopped production of its flagship sedan ET7, which would not be surprising if it turns out to be true, as the NIO App stopped showing the wait time for the model earlier this month after months of low deliveries.

The current NIO ET7 has been discontinued and its annual facelift will be launched within the year, local automotive media D1EV reported late last night, adding that a revamped version of the ET7 is expected to have optimized exterior and interior details and will probably be unveiled during the Shanghai auto show next month.

The current ET7 has some minor interior issues, and the revamped version will be optimized and will also further enhance the texture of the interior, the report said, citing a salesperson at an NIO store in Beijing.

There is no way to know what specific changes will be made, but the salesperson mentioned that the overall texture of the upgraded ET7's interior will be closer to that of the ES7, according to the report.

NIO is no longer accepting orders for customized models of the ET7, and consumers who buy the model now will only have the option of available stock cars, the report said.

As is NIO's practice, the company is expected to offer upgrade options for ET7 vehicles that have already been delivered, according to the report.

The NIO ET7, the company's first sedan, was launched at the NIO Day 2020 event on January 9, 2021, with deliveries beginning March 28, 2022.

In April 2022, the ET7's first full month of delivery, the sedan was ranked No. 10 on the China Passenger Car Association's (CPCA) list of premium sedans with a starting price above RMB 300,000 ($43,570) with 693 units sold at retail.

With increased capacity, ET7 sales continued to grow after deliveries began and reached a monthly high of 4,349 units in June 2022.

Deliveries of the ET7 remained around 3,000 units per month for the vast majority of the second half of last year, but the figures slipped to 1,379 units in December, missing the CPCA's top-tier sedan sales ranking for the first time.

In January and February of this year, NIO ET7 deliveries slipped further to 521 and 649 units respectively, according to data from the CPCA monitored by CnEVPost.

On March 1, when asked on an earnings call whether the ET7 would have a revamped version this year, William Li, NIO's founder, chairman, and CEO, did not give a positive answer but said that the company had been working on the product iterations and improvements and that it would communicate in a timely manner.

Long-time NIO follower @肉肉爸比ev hinted on March 10 on Weibo that a revamped version of the ET7 is not far from launch.

On March 13, the NIO App stopped showing the expected delivery time for the ET7, previously the wait time for the model was about 3 weeks.

($1 = RMB 6.8851)

NIO App no longer shows ET7 wait time as talk of revamped model heats up

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NIO signs deal with die-casting parts supplier Wencan

Wencan aims to supply products from near 's plants by 2025, and the two companies will work together to arrange capacity expansion plans.  |  NIO US | NIO HK | NIO SG

(Image credit: CnEVPost)

NIO (NYSE: NIO) has entered into a strategic partnership with yet another auto parts giant that will provide supply support near its plants.

One-piece die-casting parts supplier Wencan Group signed a five-year strategic cooperation framework agreement with NIO on March 26, according to an exchange announcement today from the Shanghai-listed company.

The two companies will collaborate on supply, low carbon, digitalization and globalization to achieve supply support around NIO's Hefei plants, according to the announcement.

Wencan and NIO will also collaborate in depth on lightweight research and development of integrated die-casting structural parts for the body and new material applications.

The two will also explore all-round cooperation in products including integrated battery boxes, core electric vehicle components and automotive chassis, according to the announcement.

Wencan aims to supply products near the NIO plants by 2025, and the two companies will work together to arrange capacity expansion plans, including investing in new production lines, or building new production sites, to ensure smooth production and delivery of NIO projects, the announcement said.

Wencan will also use its global presence to provide full support to NIO's international business and to provide full support to the electric vehicle company's global R&D and product validation, according to the announcement.

NIO will promote Wencan's casting business to its partners and will explore cooperation in other business areas, the announcement said.

The two will also cooperate deeply on business car purchases and employee car purchases.

Wencan is one of China's best-known suppliers of integrated die-casting parts and a core supplier of structural body parts to NIO, according to the team led by Cui Yan, an analyst at local brokerage firm Huaxi Securities.

Wencan's parts are used in NIO's entire lineup of models, and the average value of its parts used per NIO vehicle is more than RMB 3,000, Cui's team said in a March 17 research note.

Most automakers won't adopt 's model of using one-piece die-casting machines on their own because it requires a large investment and the scale effect is less than that of third-party suppliers, the team said.

On October 26, 2022, Wencan announced plans to raise up to RMB 3.5 billion through a private placement, of which RMB 1 billion will be used to build a parts manufacturing project in Anhui province.

Wencan plans to build a plant in Lu'an, Anhui province, which will help better serve customers including NIO and , Cui's team said.

The new agreement with Wencan is the second NIO has signed with the parts giant so far this month.

On March 16, Tesla's parts supplier Ningbo Tuopu Group announced that it had signed an agreement with NIO to establish a strategic partnership for the development, manufacture and supply of NEV parts and components.

One of the goals of the partnership between the two is for Ningbo Tuopu to provide parts supply near NIO's factories in Hefei, according to the announcement.

Tesla parts supplier Ningbo Tuopu signs cooperation deal with NIO

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First NIO House in Netherlands opens

co-founder and president Qin Lihong attended the ribbon-cutting ceremony for the opening of the NIO House in the Netherlands.  |  NIO US | NIO HK | NIO SG

(NIO co-founder and president Qin Lihong (first from left) attended the ribbon-cutting ceremony for the opening of the first NIO House in the Netherlands.)

NIO (NYSE: NIO) has opened its first flagship showroom in the Netherlands after the company teased the move earlier this week.

The first NIO House in the Netherlands opened on March 23, and it is located at Meent 80-84 in Rotterdam, the country's second-largest city, according to an article published yesterday in the European edition of the NIO App.

The NO House consists of seven main areas, including a vehicle display area, as well as areas for NIO users to relax and interact with the community.

In the vehicle display area, local visitors can experience NIO's three models, the ET7, EL7 and ET5. The EL7 is known as the ES7 in China.

The opening of the first NIO House in the Netherlands is an important moment for the company, which aims to be more than just electric driving; it welcomes everyone, said Ruben Keuter, general manager of NIO Netherlands.

The first image in the NIO App article shows the company's co-founder and president, Qin Lihong, at the ribbon-cutting ceremony for the opening of the NIO House.

The NIO Houses are NIO's flagship showrooms, which function to display and sell vehicles while providing a space for NIO owners to live a quality lifestyle. The company's showroom also includes the smaller NIO Spaces.

On October 1, 2021, NIO opened its first NIO House in Norway, its first such facility in Europe.

NIO released data on March 1 showing that as of the end of February, it had 101 NIO Houses worldwide, including 99 in China and two in Europe.

As of February 28, NIO had 296 NIO Spaces worldwide, including 290 in China and six overseas.

NIO's 2nd swap station in Netherlands comes online

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NIO’s 1st NIO House in Netherlands to open on Mar 23

The House is located in the Rotterdam Centrum neighborhood of Rotterdam, the second largest city in the Netherlands.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO)

NIO (NYSE: NIO) will open its first NIO House in the Netherlands a day later, as the Chinese electric vehicle (EV) maker works to bring its entire service model from China to overseas markets.

NIO's first NIO House in the Netherlands will officially open on March 23 local time, according to a post by Ruben Keuter, general manager of NIO Netherlands, published today on the company's mobile app.

The NIO House is located in Rotterdam, the second largest city in the Netherlands, which is an important port connecting five continents.

NIO Houses is NIO's flagship showroom, which functions as a space to display and sell vehicles while providing a quality lifestyle for NIO owners. The company's showrooms also include the much smaller NIO Spaces.

The NIO House building generally consists of two areas, a display area for vehicle models, and a place with various functions for users.

With the NIO House, NIO hopes to make this lifestyle available to users in every city, so that outsiders will think that buying an NIO vehicle is not just getting a car, but joining a high-end lifestyle group.

The first NIO House in the Netherlands is located in Rotterdam's Rotterdam Centrum neighborhood, next to a new, chic and colorful variety of buildings, according to the article in the NIO App.

On October 1, 2021, NIO opened an NIO House in Norway, its first such facility in Europe.

NIO held the NIO Berlin launch event on October 7 European time, introducing its three latest models to European consumers -- the ET7, EL7 and ET5. The EL7 is known as the ES7 in China.

On October 18, NIO said it made the first ET7 deliveries in Germany and the Netherlands.

On December 1, the first NIO battery swap station in the Netherlands went online. On December 13, NIO announced that its second battery swap station in the Netherlands was put into operation.

Here are some images of Rotterdam shared by NIO.

NIO to launch ET5 shooting brake variant in Europe in June or July, says president

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NIO CFO says confident of meeting this year’s sales target

That will be achieved through new models, expanding the company's charging and battery swap network, and unlocking technology, the 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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China NEV insurance registrations for week ending Mar 19: BYD 38,414, Tesla 18,712, NIO 1,775

Insurance registrations for China's NEVs were 113,000 last week, up from 108,000 the week before.

Insurance registrations for new energy vehicles (NEVs) in China increased last week compared to the previous week, with a mixed performance from major EV makers.

From March 13 to March 19, insurance registrations for all passenger vehicles in China were 321,000 units, up from 308,000 units the previous week, according to figures shared by several car bloggers on Weibo.

Insurance registrations for NEVs were 113,000 last week, up from 108,000 the week before.

(OTCMKTS: BYDDY) vehicles continued to see the most insurance registrations, with 38,414 last week, up from 37,141 the previous week.

(NASDAQ: TSLA) vehicles saw 18,712 insurance registrations last week, up from 17,032 the week before.

was 1,775 vehicles last week, down from 2,170 the week before.

NIO guided for first-quarter deliveries between 31,000 and 33,000 units earlier this month, meaning March deliveries are expected to be between 10,337 and 12,337 units.

The company's insurance registrations for the first week of March, which included February 27 and February 28, were 3,345 units.

(NASDAQ: LI) vehicles registered 5,438 insurance units last week, up from 4,243 the previous week.

(NYSE: XPEV) had 1,296 vehicles last week, down from 1,635 the week before.

posted 914 units last week, down from 1,043 units the previous week.

China NEV insurance registrations for week ending Mar 12: BYD 37,141, Tesla 17,032, NIO 2,170

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China EV industry sell-off creates opportunity, says Morgan Stanley

leads the pack with superior execution, but risk-reward increasingly favors and after a drastic sell-off this year, Morgan Stanley said.

Shares of major Chinese electric vehicle (EV) makers have generally suffered a sell-off so far this year, as the sector's weak sales at the start of the year and recent widespread price wars have raised investor concerns.

However, in Morgan Stanley's view, the sales potential of China's EV companies in the second half of the year is underestimated at a time when costs are sliding.

"We think YTD stock corrections should have discounted competition risks but underrate the cost-driven upside to EV margin/volume in 2H, " Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors on March 19.

As of Monday's close, NIO's (NYSE: NIO) US-traded ADR was down 10 percent this year, XPeng was down 8 percent, and Li Auto was up about 12 percent.

Hsiao's team believes that significant margin pressure from price wars will fuel market concerns about industry profitability and cash flow, especially among new energy vehicle (NEV) heavyweights, namely and China, which can afford to initiate another round of price cuts in the second quarter.

That, combined with weak full-year sales following the stimulus withdrawal, could dampen sales volumes and margins for EV brands in the first half of 2023, the team said.

Still, the production potential of China's NEV industry in the second half of the year and beyond appears to be underestimated as the decline in prices of batteries and key components accelerates following aggressive capacity expansion in 2022, the team noted.

This could translate into potential margin relief for NEV makers and potentially increase NEV penetration in the second half of the year in a cost-effective manner, the team said.

Hsiao's team estimates a 20-25 percent drop in battery costs for major NEV makers, implying a 6-10 percentage point cost savings.

The price drop of lithium carbonate, a key raw material for batteries, has accelerated in recent days and saw its biggest one-day drop so far this year on March 20, according to a CnEVPost report yesterday.

The average price of both industrial-grade lithium carbonate and battery-grade lithium carbonate fell by RMB 12,500 per ton on March 20, with the latest average price at RMB 272,500 per ton and RMB 312,500 per ton, respectively.

NIO's management said in a call with analysts after the March 1 earnings announcement that they expect lithium carbonate prices to fall back to around RMB 200,000 per ton this year, boosting gross margins back up.

EV makers that can take full advantage of this will not only enjoy margin relief, but also have more flexibility to price their models to further boost NEV penetration in mass markets and lower-tier cities, Hsiao's team wrote in their report.

"That said, the tailwinds from falling input costs may take time to kick in as our checks with major OEMs suggest they are still in discussions with battery suppliers on new terms," the team added.

The team believes that a tougher operating environment will accelerate market reshuffling, with leading EV manufacturers weathering the downturn better than their peers, while the growth of smaller, lagging EV startups could be slowed by a depletion of liquidity in 2023.

Growing investments should also push up cash burn rates. As a result, the ability to optimize working capital and access to market funding will play a more important role in ongoing operations in 2023, the team added.

"Our analysis suggests EV trio (NIO, XPeng, and Li Auto) will still hold fast, backed by healthy balance sheet conditions and better connections to capital markets," Hsiao's team wrote.

The team said they're fully aware of investor worries about EV startups' cash burn that may rapidly deplete their liquidity.

But they believe the EV trio can remain self-funded for the next 18 months, even under the stress-test scenario of a prolonged price war.

"We believe continuous investment would further solidify their technology leadership and enable them to have a better chance of winning out in the next up-cycle," the team wrote.

The team believes that trough valuations mean the market has lowered expectations for EV startups' operational performance and financial resilience in an industry downturn, making any marginal improvement in their sales a meaningful stock catalyst.

Li Auto leads the pack with superior execution, but risk-reward increasingly favors XPeng and NIO after this year's sharp dip, the team said.

Lithium prices see biggest drop this year in China as decline accelerates

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NIO’s 1st 3rd-gen swap stations to go live on Mar 28

's third-generation battery swap stations are expected to be ready for volume production in April, with deployment ramping up in May, William Li said a month ago.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO)

NIO (NYSE: NIO) will officially bring its first third-generation battery swap stations online at the end of this month, a timeline that appears to be slightly earlier than it previously announced.

On March 28, NIO's first 10 third-generation battery swap stations will go live, the company said in an article posted today on its mobile app.

The article does not provide more information on the third-generation stations, but said that 10 special guests will be on-site to see the battery swap stations on their wish list delivered.

NIO officially unveiled the third-generation battery swap station at NIO Day 2022 on December 24, 2022, capable of storing up to 21 battery packs, up from 13 in its predecessor generation and five in the first generation of the facility.

The third-generation battery swap station increases the daily service capacity of a single station to 408 times, a 30 percent increase over the second generation.

Notably, NIO also equipped two LiDARs and two Nvidia Orin chips on the third-generation battery swap station, for a total computing power of 508 TOPS.

The company then announced plans to add 400 battery swap stations in 2023, but that plan was raised to 1,000 a month ago.

William Li, founder, chairman and CEO of NIO, said on February 21 that NIO will further accelerate the deployment of battery swap stations, aiming to have a cumulative total of more than 2,300 battery swap stations by the end of 2023.

Mass production of NIO's third-generation battery swap stations was well underway, with volume production expected to begin in April and deployment accelerating in May, Li said at the time.

Starting in June, NIO will basically maintain a construction rate of 120-150 battery swap stations per month, he said.

On February 28, the NIO App added a wish list feature that allows vehicle owners to provide suggestions for where they would like battery swap stations to be located to support faster buildout.

To date, NIO has received 132,238 wish lists for battery swap stations, according to the article in the NIO App today.

Of those, 68.3 percent want the planned new battery swap stations this year to be located in urban areas, and 31.27 percent want the facilities to be located along highways.

Beijing was the most mentioned city on these wish lists, followed by Shanghai and Suzhou.

There were 240 potential sites covering more than 50 users and 12 sites covering more than 200 users, NIO said.

After receiving the owners' wish lists, NIO held 221 events in 134 cities, meeting with 6,459 users face-to-face, according to the article in the NIO App.

NIO has not added any battery swap stations in the past half month. As of March 5, the company had 1,321 such facilities in China, according to data monitored by CnEVPost.

NIO reveals aggressive plan to add 1,000 swap stations in 2023

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