On Christmas Eve, Nio (NIO) – Get Free Report needed everybody to really feel the sunshine.
“Really feel the Mild” was the theme for the Chinese language automaker’s Nio Day 2022, its annual occasion held in Hefei this 12 months. There, the corporate launched two new flagship electrical SUVs: the EC7 and ES8, which is able to begin delivery in Might and June.
Nio mentioned the brand new SUVs would have autonomous battery swaps. The automobiles can plan routes for battery swap, drive to the places, robotically full the ability swap, and get again on the freeway.
Wall Avenue appeared to be feeling the sunshine.
Morgan Stanley analyst Tim Hsiao, who has an obese score and $16.10 worth goal on Nio shares, advised buyers that the next-generation power-replenishment know-how was “the important thing highlight of the day.”
Financial institution of America analyst Ming Hsun Lee mentioned in a analysis observe that the flagship coupe SUV mannequin has “class” whereas the brand new ES8 will convey enhanced efficiency primarily based on the NT2.0 autonomous driving know-how platform.
Lee, who maintained a purchase score on Nio with a $15 worth goal, cited the corporate’s “benefits within the premium sensible EV section and robust mannequin pipelines.”
However issues have turned darkish for Nio.
Nio ‘Prudently’ Lowers Expectations
The corporate mentioned on Dec. 27 it had “prudently” lowered its expectations for fourth quarter deliveries.
Nio now expects to ship 38,500 to 39,500 automobiles within the fourth quarter, down from beforehand launched outlook of 43,000 to 48,000 automobiles.
“In December 2022, the corporate has been going through challenges in deliveries and productions, along with sure supply chain constraints, brought on by the outbreak of the omicron coronavirus variant in main cities in China,” Nio mentioned in a statement.
The carmaker mentioned that whereas its groups “have strived to take care of steady operations on all fronts, we weren’t in a position to attain our full capacities, notably when there have been disruptions on supply and registration procedures involving customers.”
China’s newest wave of covid-19 infections is sparking concern amongst scientists {that a} harmful new virus variant may emerge for the primary time in additional than a 12 months, Bloomberg reported.
Nio’s lowered outlook follows an announcement that hackers stole user data and information about Nio’s gross sales.
Nio mentioned that on Dec. 11 that it had acquired an electronic mail during which the sender requested for $2.25 million in bitcoin to stay silent and never publish the stolen knowledge.
“The corporate strongly condemns such illegal acts and won’t bow all the way down to cybercrimes,” Nio mentioned. “We’ll study from the teachings and strengthen our technical power to constantly enhance the safety safety of Nio’s info methods to totally defend the knowledge safety of our customers.”
This incident adopted a revelation In April the place the corporate mentioned that one in every of its server managers used his place to mine ether, the second largest cryptocurrency after bitcoin, for greater than a 12 months.
Powerful Yr for Some EV Firms
It has been a tricky 12 months for some electric vehicle companies, together with Rivian (RIVN) – Get Free Report, which has seen its inventory worth tumble greater than 80% since January.
Rivian can be affected by supply-chain challenges, that are driving up prices and are having a huge effect on its efforts to mass-produce automobiles.
Lucid Group’s (LCID) – Get Free Report inventory took an analogous nosedive and even the mighty Tesla has watched its shares head south as CEO Elon Musk shelled out $44 billion to take over Twitter.
Automakers have labored to make electrical automobiles extra inexpensive in 2022.
Ford (F) – Get Free Report, which began manufacturing and deliveries of the F-150 Lightning, the electric version of the enduring F-150 pickup truck, added a 3rd shift within the Michigan plant accountable for assembling the F-150 Lightning.
President Joe Biden, who has made the adoption of inexperienced automobiles one in every of his priorities, included tax credit within the Inflation Discount Act, which was signed final August, to encourage customers to decide on electrical automobiles once they purchase automobiles.
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