Tag: NIO

By on March 23, 2020

With the way China organized its great leap forward into electrification, we knew it would bury hundreds of automotive startups in the process. By propping up countless businesses, China ensured it could boast more new EV manufacturers than any other nation on the planet. Yet most  industry watchers presumed there would be a low survival rate once these fresh firms attempted to transition into legitimate automakers. Some analysts predicted only 10 percent would still be in operation by 2023, while others said 1 percent was probably more realistic.

While this trial by fire seemed poised to weed out lesser-known companies, we’ve seen major players struggling of late. One of them is NIO — a company broadly viewed as a Tesla rival, but which is probably most famous for building the EP9 electric hypercar that traveled the globe to smash EV records in 2017. NIO had a tough 2019, posting a $479-million loss during the second quarter and announced the elimination of 2,000 employees — that’s after it sold its Formula-E team, closed an office in California, abandoned at least one planned factory, and ditched one new model mid-development.

The company now openly acknowledges that it might not survive through 2020.  (Read More…)

By on September 24, 2019

Despite assuming the role of one of China’s most promising electric vehicle startups, NIO is struggling. The first quarter of this year was a mess. Worried about bad publicity stemming from battery fires, NIO recalled 4,800 vehicles ⁠— more than it sold in Q1. It also endured a noteworthy sales decline, a drop in share price, sold off its Formula E racing team, and announced it would cut around 10 percent of its workforce.

The situation has not improved for Q2. According to reports from the manufacturer, losses expanded 83.1 percent from the previous year to about 3.3 billion yuan ($463 million). Despite NIO’s recent addition of the ES6 crossover, Q2 sales were down 7.9 percent from Q1 ⁠— resulting in a grand total of 3,553 deliveries. NIO now believes it will have to sheer 20 percent of its workforce to save costs. (Read More…)

By on August 15, 2019

Nio, one of China’s biggest EV startups, is confronting difficult times, though the primary reasons for its plight are less than obvious. Automotive startups have a low survival rate, but Nio was presumed to be the next big thing in vehicular electrification. It looked poised to become one of the few EV companies that would survive in Asia, likely serving as China’s response to Tesla, and even had a successful Formula E racing team to showcase its engineering might.

We sad had because Nio sold that team this year. It also needed to recall 4,800 vehicles after reports of three catching fire, endured a sizable sales drop, witnessed its share price plummet, announced plans to layoff 10 percent of its workforce, and just lost one of its co-founders.  (Read More…)

By on October 15, 2018

Nio, originally launched as NextEV in 2014, announced that it had delivered 3,268 electric SUVs in the third quarter of 2018. Not only does this beg the question of when Nio swapped from Formula E and electrified hypercars to utility vehicles, but it also makes us wonder how a burgeoning EV firm managed to surpass production goals. Aren’t all zero-emission automobiles that aren’t developed by established automakers supposed to languish in purgatory?

Answering the first question is easy. Nio started deliveries of the ES8 crossover last June, though it still sells the high-performance EP9 for $1.2 million. We doubt that model provided any significant contributions to overall volume in Q3. The trickier bit of this equation is figuring out how the Nio moved all that metal. While 3,200 cars is a paltry some for a mainstream manufacturer, it’s pretty damn good for a company that just started building a volume electric. Even Tesla would have been envious in 2012.  (Read More…)

By on April 30, 2018

Nio, the Chinese electric vehicle startup that uses swappable batteries and implements a full-time digital assistant, wants to launch a global model that would make its way to the United States by 2020. To do it, it needs an alternative to the traditional dealer network most brands rely upon. Fortunately for Nio, it already has an app that allows for direct sales in China.

However, that doesn’t mean Americans would be comfortable with purchasing a car over the phone. Nor does it guarantee the United States would eagerly adopt the kind of vehicles Nio is building. For the most part, the North American market isn’t hugely enamored with electric vehicles, and the portions that are interested seem fiercely loyal to a specific Californian brand named after a Serbian-American inventor.  (Read More…)

By on May 14, 2017

ep9 Nurburgring

Engineering a vehicle with the Nürburgring in mind doesn’t always produce the most enjoyable on-road driving experience, but it often results in one hell of a performance machine. The NIO EP9 electric supercar was already the fastest EV ever to grace the track, which is a feat in itself since the Tesla Model S proved itself incapable of maintaining full-trust for the duration of the 14-mile track. However, after taking another stab at it, the NIO is claiming the EP9 is now the fastest production vehicle ever to grace the track — gas or electric.

Under what NIO admitted to being perfect conditions, the EP9 completed the course in 6:45.90. That’s over 19 seconds quicker than its pervious lap time and 6 seconds quicker than the Lamborghini Huracan Performante’s. The EP9 also bested the Radical SR8LM, which is not globally street legal and only slightly more useful for daily-driving duties than the space shuttle.  (Read More…)

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