China Specialist, Auto and Industrial Specialist

Victoria Li

20 years experience as sell side analyst focusing on China's Industrial and Auto sectors

Nio: Holding League Table Spot, but Further Challenges on the Way

NIO: Will It Survive the Fight with Tesla?

Equity Bottom-Up

<ul>
<li>After the wait of nearly a year, management announced that it will start ET7 delivery on 28th March. However market pushback rises.</li>
<li>The newly announced new ET5 is lacking an exciting selling point, doubtful if it will attract enough potential buyers to give up existing well-known competitor models and wait for it.</li>
<li>YTD, NIO (NIO US) underperformed its peers by nearly 40% due to lagging monthly delivery. It would continue to underperform peers in the next three years.</li>
</ul>


After the wait of nearly a year, management announced that it will start ET7 delivery on 28th March. However market pushback rises.
The newly announced new ET5 is lacking an exciting selling point, doubtful if it will attract enough potential buyers to give up existing well-known competitor models and wait for it.
YTD, NIO (NIO US) underperformed its peers by nearly 40% due to lagging monthly delivery. It would continue to underperform peers in the next three years.


NIO

NIO: Is the Future Still with NIO?