Nio reported third-quarter results that were results largely as previewed and gave a better-than-feared outlook for the fourth quarter, said Edison Yu's team.
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Smart up 50%, MG down 21%, Nio down 82%.
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Nio Day 2023 will be held on December 23 in Xi'an, Shaanxi province, Northwest China, where Nio will unveil a new flagship model.
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Nio is opening a new page in its story, acquiring F1 and F2 plants from JAC and reporting the highest revenue.
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Nio (NYSE: NIO) reported third-quarter revenue of RMB 19.07 billion, up 46.64 percent year-on-year and 117.36 percent from the second quarter.
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Nio said it will acquire the manufacturing equipment and assets of the F1 and F2 plants from JAC for a total consideration of about RMB 3.16 billion.
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For the week of November 27 to December 3, BYD's vehicle insurance registrations in China were 56,200 units.
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Nio's annual event, Nio Day, is expected to take place at the end of this month.
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China has imposed restrictions on car production over the past decade amid concerns about overcapacity. Nio had previously been producing cars under JAC's qualification.
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As JAC's deal to sell its factory assets comes to a deadline, rumors that Nio will buy them and announce its own car-making qualifications are circulating widely on Chinese social media.
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