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Chinese electric car brand NIO improves sales and targets Tesla

NIO is improving its sales figures and financial situation at a rapid pace. This well-known Chinese electric car brand is determined to stand up to Tesla to become the benchmark premium firm in the field of electric mobility. The value of NIO’s stock has exceeded that of General Motors.

About a year ago the Chinese brand NIO he was in a really delicate situation. This electric car maker was on the brink. The drop in sales coupled with the lack of liquidity created a dangerous cocktail that left the door open for the disappearance of the company. Right now things have changed. And a lot. The implementation of a restructuring plan is being decisive.

The sales figures are improving, the arrival of new models encourages more customers to jump on the electric mobility bandwagon and, just as important, the NIO’s share value has grown in a very relevant way. At this time the value of NIO shares has exceeded those of General Motors. A fact that allows you to discover at a stroke how things are in this Chinese brand of electric cars.

NIOThe NIO brand has experienced a very positive evolution in recent months

NIO’s advance in China puts Tesla in the spotlight

There is no other automobile firm in China that can more clearly illustrate the change in perception that is taking place among consumers and investors regarding electric mobility. It is true that China is the first market in the world for electric vehicles. However, the rapid and even miraculous recovery that NIO is experiencing is a clear sign that things are changing.

NIO is also the Chinese luxury brand better able to compete head-to-head with Tesla. The American firm led by Elon Musk has already settled in the Asian Giant. The start-up of its Gigafactory in Shanghai is being key in the expansion process that Tesla is experiencing in the Chinese market. NIO has all the tools to directly rival Tesla.

Prices are another determining factor. Times are coming when there will be superior competition as a significant price adjustment is anticipated in the premium electric vehicle market. The NIO ES6 starts from $ 54,000 (€ 45,515). A considerably higher figure compared to the price of the Tesla Model 3 in China. Now, NIO is playing a very important trick. And it has to do with the main component of any electrical.

NIO brand dealer in ChinaNIO brand dealer in China. In picture, the NIO ES8

NIO offers different battery options

This Chinese brand has decided to bet on various options related to the battery of its electric. For example, it offers rental and / or upgrade services that reduce the cost of ownership of an electric NIO over the years. In addition, the company has a network of battery exchange stations to avoid having to carry out the charging process and has a fleet of “charger vehicles” to help drivers who need to recharge their car battery but they cannot access a charging point.

The NIO’s monthly sales surpassed the 5,000-unit barrier for the first time in October 2020. Its registrations in China (the only market where it is present) have clearly recovered in recent months. However, these records are still far from those harvested by Tesla, which usually closes each month with between 11,000 and 12,000 units sold.

William Li, Chief Executive Officer of NIO, commented that their car prices are higher than expected: “Our cars were sold at a higher average price than we expected and the orders for our cars are also very good. There is a clear brand differentiation between NIO and Tesla. “

Nio, the Chinese alternative to Tesla, hopes to reach Europe in 2021Nio, the Chinese alternative to Tesla, hopes to reach Europe in 2021Read news