Chinese electric vehicle startup Nio reports narrower-than-expected loss

Jun 02, 2020 NIO

After a miserable 2019, Nio finally has opportunities to make some adjustments this year. Meanwhile, with the support of preferential policies, it solved its financing problem.

According to the new policy for new energy vehicles issued on April 23, it was stipulated that those models with a price of more than 300000 yuan (including 300000 yuan) before subsidies would no longer enjoy preferential policies, but the "power exchange mode" vehicles would not be limited by this regulation. It is almost pulling off the frame for Nio. Although the prices of the two models that have been mass produced by Nio are higher than 300000 yuan, they all adopt the power exchange mode.

At the end of April, due to the investment of the national team capital, Nio's cash flow pressure was temporarily relieved.

From the performance, under the background of the epidemic, Nio's first quarter revenue and delivery showed an unexpected decline: In Q1 of 2020, Nio's revenue reached 1.37 billion yuan, a year-on-year decrease of 15.9% and a month-on-month decrease of 51.8%. In Q1 2020, its total delivery reached 3,838, a year-on-year decrease of 3.8% and a month-on-month decrease of 53.3%.

TO READ THE FULL ARTICLE