DIRS.INFO The most relevant business & tech news

☆ Shares of Nio soar more than 20% as EV deliveries more than double in April
▼ + stars: | 2024-05-02 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April. Nio shares also helped boost the broader Hang Seng index , which jumped 2% by midday trading. "The deliveries consisted of 8,817 premium smart electric SUVs, and 6,803 premium smart electric sedans," the company said in a statement on Wednesday. Nio has delivered 45,673 vehicles so far this year, 21.2% higher than the same period a year earlier. The Chinese EV maker has also been expanding its battery swap partnerships as it seeks to get an edge on the infrastructure side of the EV ecosystem.

Persons: Nio's ET5, Nio Organizations: Central China International, Nio Inc, Hong Locations: Wuhan, China, Hong Kong

☆ China's EV carmaker Nio jumps 4% after reporting narrower-than-expected losses
▼ + stars: | 2023-12-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Here's how Nio did in the third quarter, according to LSEG consensus estimates: Revenue: 19.1 billion Chinese yuan ($2.7 billion) versus 19.4 billion yuan expected. 19.1 billion Chinese yuan ($2.7 billion) versus 19.4 billion yuan expected. Loss per share: 2.67 yuan per share loss versus 2.91 yuan loss expected. That was smaller than the 3.7 yuan per share loss recorded in the second quarter of the year. The company said fourth-quarter revenue will be between 16.1 billion yuan and 16.7 billion yuan, representing a year-on-year increase of between 0.1% to 4.0%.

Persons: ET5, Nio, William Li, Li, Li Auto Organizations: HK, Central China International, Getty, Revenue, EV Locations: Wuhan, China, U.S

☆ Chinese Tesla rival Nio cuts 10% of workforce as CEO predicts 'intense competition'
▼ + stars: | 2023-11-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Nio's ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Chinese electric carmaker Nio plans to cut 10% of its workforce amid "fierce competition," CEO William Li said Friday. This is a tough but necessary decision against the fierce competition." Like many Chinese electric vehicle startups, Nio has been hit by weak consumer sentiment in the world's second-largest economy, stiff competition and a price war kicked off by Elon Musk's Tesla. Nio first resisted any price declines, but ultimately carried one out in June.

Persons: Nio's ET5, William Li, Li, Nio, Elon Musk's Tesla, Xpeng Organizations: Central China International, CNBC, stoke Locations: Wuhan, China

☆ Nio reports wider second-quarter loss amid China slowdown and product line revamp
▼ + stars: | 2023-08-29 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Revenue: 8.77 billion yuan ($1.21 billion), vs. 9.25 billion yuan expected. 8.77 billion yuan ($1.21 billion), vs. 9.25 billion yuan expected. On a GAAP basis, the company reported a net loss of $835.1 million, or 51 cents per share. A year ago, Nio reported a net loss of 2.76 billion yuan, or 1.68 yuan per share, on revenue of 10.29 billion yuan. Nio's gross margin on vehicles for the second quarter was 6.2% in the second quarter, down from 16.7% a year ago but up from 5.1% in the first quarter of 2023.

Persons: Nio's ET5, Nio, William Bin Li Organizations: Central China International, Refinitiv . Locations: Wuhan, China, Abu Dhabi

☆ Chinese EV maker Nio raises more than $700 million in capital injection from Abu Dhabi
▼ + stars: | 2023-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Nio's ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. BEIJING — Chinese electric car company Nio announced Tuesday it received $738.5 million in new capital from a fund owned by the Abu Dhabi government. The strategic investment ultimately gives the fund, CYVN Holdings, a 7% stake in Nio. Nio earlier this month said lackluster car deliveries was affecting cash flow, and that it was delaying capital expenditure and some research and development projects. Nio disclosed cash and cash equivalents of 14.76 billion yuan ($2.07 billion) as of March, below what it disclosed for the end of 2021 and 2022.

Persons: Nio's ET5, Nio Organizations: Central China International, CYVN Holdings Locations: Wuhan, China, BEIJING, Abu Dhabi, Nio, U.S

Search resuls for: "Nio's ET5"

5 mentions found