China-dependent electrical motor vehicle (EV) producer Nio (NYSE:NIO) is producing waves — and probable enemies — following reporting its next quarter of fiscal 12 months 2021 earnings outcomes.
In the report, Nio stated its auto deliveries arrived at 21,896 throughout the time period. This signifies an increase of 111.9% yr-over-calendar year (YoY) and a 9.2% increase quarter-above-quarter (QoQ). The EV organization also claimed complete revenues for Q2 ended up $1.31 million, which is 127.2% superior YoY and 5.8% higher QoQ.
Having said that, despite the earnings figures getting reliable, they are not the motive why NIO inventory is in the news nowadays. Fairly, a couple of reviews from Nio CEO William Li for the duration of the company’s earnings get in touch with are why the EV leader is top of brain on Wall Avenue right now.
What did Li say? Let us get a closer appear at his words and what they suggest for Nio and the EV sector total.
NIO Stock on Look at Next CEO Remarks
- All through the webinar, Li made it clear that Nio is “working on a mass-market place new brand name that will be positioned comparable to Volkswagen (OTCMKTS:VWAGY) and Toyota Motors Corp. (NYSE:TM).”
- “The connection among Nio and our new mass-industry brand will be like that of Audi-Volkswagen and Lexus-Toyota,” stated Li.
- In accordance to Reuters, Nio “had stepped up preparations to make mass-industry products less than a different brand name and a ‘core team’ experienced been assembled as a ‘first stage of a strategic initiative.’”
- Apart from this group of vehicle manufacturers, Li also mentioned one particular of Nio’s direct EV opponents in his statements.
- “We want to supply far better solution and company at charges decreased than Tesla Inc. (NASDAQ:TSLA),” he extra.
- Additionally, Li also mentioned that Nio’s designs would not contend with Wuling Hong Guang Mini EV.
- That is the mini EV created by Typical Motors (NYSE:GM) in its joint venture with SAIC Motor.
- Also, Nio plans on releasing three new styles upcoming calendar year — like its initial sedan.
NIO inventory was down about 3% as of Thursday afternoon.
On the day of publication, Nick Clarkson did not have (either specifically or indirectly) any positions in the securities talked about in this write-up. The views expressed in this write-up are individuals of the author, topic to the InvestorPlace.com Publishing Recommendations.
Nick Clarkson is a internet editor at InvestorPlace.
Post printed from InvestorPlace Media, https://investorplace.com/2021/08/nio-inventory-8-factors-to-know-about-nios-new-ideas-to-take-down-toyota/.
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