Category: Nio

Categories
CalPERS China Electric eMobility eV Hedge Fund Positions Li Auto Nio XPeng

Largest US pension cuts stake in NIO, liquidates Li Auto in Q1

CalPERS liquidated its position in in the third quarter of 2022.

The largest US public pension continued to trim its investment in Chinese electric vehicle (EV) stocks in the first quarter.

The California Public Employees' Retirement System (CalPERS) owned 2,210,446 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F report dated May 12.

This is down 390,806 shares, or 15.02 percent, from 2,601,252 at the end of the fourth quarter of 2022.

The pension's holdings in NIO were worth $23.23 million at the end of the first quarter, down 8.4 percent from 25.36 million at the end of the fourth quarter.

CalPERS now has about $440 billion in assets under management and is the largest public pension in the US. It opened a position in NIO in the first quarter of 2019, when it bought 140,451 shares. NIO went public in the US on September 12, 2018.

CalPERS cut its position in NIO by 10.79 percent in the fourth quarter of last year. The value of the pension's holdings in NIO fell 44.85 percent during the fourth quarter due to a large drop in NIO's stock price during the period.

In the third quarter of 2022, CalPERS liquidated its position in XPeng (NYSE: XPEV) while increasing its stake in NIO by 18.20 percent. As of the end of the first quarter, it still did not own any XPeng shares.

The pension liquidated its position in , another Chinese EV company, in the first quarter.  CalPERS held 1,136,298 shares of Li Auto at the end of the fourth quarter last year.

NIO, XPeng and Li Auto all rose in the first quarter, up 7.79 percent, 9.14 percent and 22.3 percent, respectively.

Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng-CnEVPost

Several prominent hedge funds reduced their positions in these three Chinese EV companies in the first quarter.

Bridgewater reduced its holdings in NIO by 40.53 percent, XPeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter, according to Friday's Form 13F.

Renaissance cut its position in NIO by 0.16 percent, XPeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.

Bridgewater cuts positions in NIO, XPeng, Li Auto in Q1

The post Largest US pension cuts stake in NIO, liquidates Li Auto in Q1 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
Bridgewater China Electric eMobility eV Hedge Fund Positions Li Auto Nio XPeng

Bridgewater cuts positions in NIO, XPeng, Li Auto in Q1

Bridgewater reduced its holdings in NIO by 40.53 percent, by 25.98 percent and by 54.69 percent in the first quarter.

Bridgewater Associates, the world's largest hedge fund founded by renowned investor Ray Dalio, reduced its position in the Chinese electric vehicle (EV) trio in the first quarter, the second consecutive quarter it did so.

Bridgewater held 2,526,156 US-traded ADRs of NIO (NYSE: NIO) at the end of the first quarter, down 1,721,751 shares, or 40.53 percent, from 4,247,907 at the end of the fourth quarter, according to a Form 13F it filed with the SEC on Friday.

The value of Bridgewater's holdings in NIO was $26.55 million at the end of the first quarter, down $14.87 million, or 35.90 percent, from $41.42 million at the end of the fourth quarter.

Bridgewater's holdings in NIO decreased by 27.91 percent in the fourth quarter of last year. Prior to that, the fund's position in NIO had grown for five consecutive quarters.

At the end of the first quarter, Bridgewater's holdings in XPeng (NYSE: XPEV) stood at 1,501,493, a decrease of 527,119, or 25.98 percent, from the end of the fourth quarter.

The fund's holdings in XPeng were last valued at $16.68 million, a decrease of 17.27 percent from the end of the fourth quarter.

Bridgewater's holdings in XPeng decreased by 6.15 percent during the fourth quarter of last year. This followed three quarters of increased or unchanged holdings.

Bridgewater's holdings in Li Auto's US-traded ADRs were 792,442 shares at the end of the first quarter, a decrease of 956,375 shares or 54.69 percent from the end of the fourth quarter.

Bridgewater's Li Auto position had a value of $19.77 million at the end of the first quarter, a decrease of 44.58 percent from the end of the fourth quarter.

NIO, XPeng, and Li Auto all gained in the first quarter, up 7.79 percent, 9.14 percent, and 22.3 percent, respectively.

Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng-CnEVPost

Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng

The post Bridgewater cuts positions in NIO, XPeng, Li Auto in Q1 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Hedge Fund Positions Li Auto Nio XPeng

Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng

Renaissance reduced its position in NIO by 0.16 percent, by 98.88 percent and by 20.44 percent during the first quarter.

Renaissance Technologies LLC, one of the world's most prominent hedge funds, held its position in NIO (NYSE: NIO) steady during the first quarter, but reduced its holdings in XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI).

Renaissance held 10,791,394 US-traded ADRs of NIO at the end of the first quarter, down 17,200 shares or 0.16 percent from 10,808,594 at the end of the fourth quarter, according to a Form 13F filing on Friday.

Renaissance's holdings in NIO were worth about $113 million, up $8.03 million, or 7.62 percent, from $105 million at the end of the second quarter, as NIO shares rose in the first quarter.

The fund began its holdings in NIO in the second quarter of 2021, when it bought 5,293,900 shares. It reduced its holdings in NIO by 28.63 percent and 14.77 percent in the third and fourth quarters of last year, respectively.

While maintaining a flat position in NIO, the fund reduced its holdings in XPeng and Li Auto, particularly in XPeng, in the first quarter.

At the end of the first quarter, Renaissance held 81,929 shares of XPeng's US-traded ADRs, down 7,236,771, or 98.88 percent, from 7,318,700 shares at the end of the fourth quarter last year.

The fund's holdings in XPeng were valued at $910,000, down 98.75 percent from $72.75 million at the end of the fourth quarter.

Renaissance first bought XPeng in the third quarter of 2021.

The fund owned 8,111,300 shares of Li Auto at the end of the first quarter, down 2,083,700 shares or 20.44 percent from 10,195,000 at the end of the fourth quarter.

Its holdings in Li Auto were worth $202 million, down 2.69 percent from $208 million at the end of the fourth quarter.

Renaissance first bought Li Auto in the second quarter of 2021 and increased its position in the company in each subsequent quarter until the fourth quarter of last year, when it reduced its stake in the automaker by 17.91 percent.

During the first quarter, NIO gained 7.79 percent, XPeng gained 9.14 percent and Li Auto gained 22.3 percent.

Baillie Gifford trims holdings in NIO, Tesla slightly in Q1

The post Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Hedge Fund Positions Li Auto Nio XPeng

Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng

Renaissance reduced its position in NIO by 0.16 percent, by 98.88 percent and by 20.44 percent during the first quarter.

Renaissance Technologies LLC, one of the world's most prominent hedge funds, held its position in NIO (NYSE: NIO) steady during the first quarter, but reduced its holdings in XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI).

Renaissance held 10,791,394 US-traded ADRs of NIO at the end of the first quarter, down 17,200 shares or 0.16 percent from 10,808,594 at the end of the fourth quarter, according to a Form 13F filing on Friday.

Renaissance's holdings in NIO were worth about $113 million, up $8.03 million, or 7.62 percent, from $105 million at the end of the second quarter, as NIO shares rose in the first quarter.

The fund began its holdings in NIO in the second quarter of 2021, when it bought 5,293,900 shares. It reduced its holdings in NIO by 28.63 percent and 14.77 percent in the third and fourth quarters of last year, respectively.

While maintaining a flat position in NIO, the fund reduced its holdings in XPeng and Li Auto, particularly in XPeng, in the first quarter.

At the end of the first quarter, Renaissance held 81,929 shares of XPeng's US-traded ADRs, down 7,236,771, or 98.88 percent, from 7,318,700 shares at the end of the fourth quarter last year.

The fund's holdings in XPeng were valued at $910,000, down 98.75 percent from $72.75 million at the end of the fourth quarter.

Renaissance first bought XPeng in the third quarter of 2021.

The fund owned 8,111,300 shares of Li Auto at the end of the first quarter, down 2,083,700 shares or 20.44 percent from 10,195,000 at the end of the fourth quarter.

Its holdings in Li Auto were worth $202 million, down 2.69 percent from $208 million at the end of the fourth quarter.

Renaissance first bought Li Auto in the second quarter of 2021 and increased its position in the company in each subsequent quarter until the fourth quarter of last year, when it reduced its stake in the automaker by 17.91 percent.

During the first quarter, NIO gained 7.79 percent, XPeng gained 9.14 percent and Li Auto gained 22.3 percent.

Baillie Gifford trims holdings in NIO, Tesla slightly in Q1

The post Renaissance keeps NIO position stable in Q1, nearly liquidates position in XPeng appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Nio NIO ET5 NIO Europe NIO Norway

NIO filming ET5 touring promo in Norway, more images revealed

NIO is filming promotional videos for the ET5 touring in Norway, and leaked images show more details of the model.  |  NIO US | NIO HK | NIO SG

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

More images of the NIO (NYSE: NIO) ET5 touring have been revealed, as the model gets closer to its official launch.

Auto blogger Delu shared several images of the model on the NIO App today, saying that NIO is filming promotional videos for the model in Norway.

"This is one of the top three touring models in my mind, they are the Volvo V60, Audi RS6 and now the ET5 Touring," the blogger wrote.

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

On May 9, CnEVPost obtained two spy photos of the ET5 touring appearing on the streets of Europe, showing that the car has the yellow color exclusive to the ET5 sedan sold in China.

CnEVPost has learned from a source is that the model is expected to make its official debut in Europe in June.

In January, NIO co-founder and president Qin Lihong said the company would launch the ET5 touring, a sister model of the ET5, in June or July.

That new variant of the ET5 will debut in Europe, where the model was developed primarily for European consumers, Qin said at the time.

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

Such models have a large market in Europe, while sales of sedans are low, which is the opposite of the situation in China, Qin said at the January event.

"Derivatives of sedans are a niche market in China, but the opposite is true in Europe. We don't see many real sedans in Europe," he said at the time.

In early March, the ET5 touring appeared on a filing list from Chinese industry regulators and its key specifications were revealed.

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

The NIO ET5 touring has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm respectively, and a wheelbase of 2,888 mm, in line with the ET5 sedan.

It will be equipped with dual motors produced by NIO's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.

As with several other NIO models based on the NT 2.0 platform, the NIO ET5 touring supports the option of a retractable electric tow hook, which can tow a maximum of 1,400 kg of caravan weight.

Exclusive: NIO ET5 touring appears in Europe as local launch nears

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

The post NIO filming ET5 touring promo in Norway, more images revealed appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Nio NIO ET5 NIO Europe NIO Norway

NIO filming ET5 touring promo in Norway, more images revealed

NIO is filming promotional videos for the ET5 touring in Norway, and leaked images show more details of the model.  |  NIO US | NIO HK | NIO SG

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

More images of the NIO (NYSE: NIO) ET5 touring have been revealed, as the model gets closer to its official launch.

Auto blogger Delu shared several images of the model on the NIO App today, saying that NIO is filming promotional videos for the model in Norway.

"This is one of the top three touring models in my mind, they are the Volvo V60, Audi RS6 and now the ET5 Touring," the blogger wrote.

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

On May 9, CnEVPost obtained two spy photos of the ET5 touring appearing on the streets of Europe, showing that the car has the yellow color exclusive to the ET5 sedan sold in China.

CnEVPost has learned from a source is that the model is expected to make its official debut in Europe in June.

In January, NIO co-founder and president Qin Lihong said the company would launch the ET5 touring, a sister model of the ET5, in June or July.

That new variant of the ET5 will debut in Europe, where the model was developed primarily for European consumers, Qin said at the time.

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

Such models have a large market in Europe, while sales of sedans are low, which is the opposite of the situation in China, Qin said at the January event.

"Derivatives of sedans are a niche market in China, but the opposite is true in Europe. We don't see many real sedans in Europe," he said at the time.

In early March, the ET5 touring appeared on a filing list from Chinese industry regulators and its key specifications were revealed.

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

The NIO ET5 touring has a length, width and height of 4,790 mm, 1,960 mm and 1,499 mm respectively, and a wheelbase of 2,888 mm, in line with the ET5 sedan.

It will be equipped with dual motors produced by NIO's electric drive systems division in Hefei, Anhui province, with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.

As with several other NIO models based on the NT 2.0 platform, the NIO ET5 touring supports the option of a retractable electric tow hook, which can tow a maximum of 1,400 kg of caravan weight.

Exclusive: NIO ET5 touring appears in Europe as local launch nears

NIO filming ET5 touring promo in Norway, more images revealed-CnEVPost

The post NIO filming ET5 touring promo in Norway, more images revealed appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
Baillie Gifford China Electric eMobility eV Hedge Fund Positions Nio Tesla

Baillie Gifford trims holdings in NIO, Tesla slightly in Q1

Baillie Gifford trimmed its holdings in NIO and Tesla by 0.77 percent and 2.83 percent, respectively, in the first quarter, but the value of its holdings in them rose.

Baillie Gifford held 120,132,616 shares of NIO's US-traded ADRs at the end of the first quarter, according to a 13F filing posted on the SEC's website on May 3.

That's down 926,459 shares, or 0.77 percent, from 121,059,075 at the end of the fourth quarter, CnEVPost's calculations show.

During the fourth quarter of last year, Baillie Gifford's position in NIO increased by 24,277,897 shares or 25.09 percent.

Baillie Gifford's holdings in NIO were worth $1.26 billion at the end of the first quarter, up 6.97 percent from $1.18 billion at the end of the fourth quarter.

NIO rose 7.79 percent in the first quarter after it fell 38 percent in the fourth quarter of last year.

In addition to reducing its position in NIO slightly, Baillie Gifford also reduced its holdings in Tesla slightly in the first quarter.

At the end of the first quarter, the fund held 26,054,483 shares of Tesla, down 759,855 shares, or 2.83 percent, from 26,814,338 shares in the fourth quarter of last year.

However, Baillie Gifford's holdings in Tesla were worth $5.4 billion at the end of the first quarter, up 63.65 percent from $3.3 billion in the fourth quarter of last year, due to a big jump in Tesla's stock price in the first quarter.

Tesla rose 68.42 percent in the first quarter after it fell 59 percent in the fourth quarter of last year.

Baillie Gifford previously held (NASDAQ: LI), but liquidated its position in the extended-range electric vehicle (EREV) maker in the fourth quarter of last year.

As of March 31, Baillie Gifford did not own Li Auto, (NYSE: XPEV) or BYD (OTCMKTS: BYDDY) shares.

NIO asks its community for advice on pricing of new ES6

The post Baillie Gifford trims holdings in NIO, Tesla slightly in Q1 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Earnings Electric eMobility eV Nio

NIO to report Q1 earnings on Jun 9

NIO delivered 31,041 vehicles in the first quarter, slightly above the lower end of its guidance range of 31,000 to 33,000 vehicles.  |  NIO US | NIO HK | NIO SG

NIO (NYSE: NIO) will report first quarter unaudited financial results on Friday, June 9, before the US market opens, the company announced today.

Previous figures showed it delivered 31,041 vehicles in the first quarter, just above the lower end of its guidance range of 31,000 to 33,000 vehicles.

NIO's previous revenue guidance for the first quarter was between RMB 10.93 billion and RMB 11.54 billion, implying year-on-year growth of about 10.2 percent to 16.5 percent.

(NASDAQ: LI) already reported first-quarter earnings that beat expectations yesterday, sending its shares soaring 13.93 percent in US trading on Wednesday.

Li Auto's deliveries in the first quarter were slightly above the lower end of its guidance range, but revenue was above the upper end of the guidance range.

(NYSE: XPEV) will report first-quarter earnings on May 24.

By the time NIO reports its first-quarter earnings, its deliveries in May should have been released on June 1. Therefore, its delivery guidance for the second quarter will then imply the company's delivery expectations for June.

NIO will officially launch the new ES6 later this month, which will be a model of strategic importance to it. The company today asked its community for input on the pricing of the SUV.

NIO's management will host an earnings conference call on June 9 at 8:00 am US Eastern Time (8:00 pm Beijing Time on June 9).

A live and archived webcast of the conference call will be available on NIO's investor relations website at https://ir.nio.com/news-events/events.

Participants who wish to participate in the conference using dial-up may register in advance using the link provided below.

https://s1.c-conf.com/diamondpass/10030774-agy6dc.html

A replay of the conference call will be available through June 16, 2023 at the following numbers:

United States: +1-855-883-1031

Hong Kong, China: +852-800-930-639

Chinese mainland: +86-400-1209-216

Singapore: +65-800-1013-223

International: +61-7-3107-6325

Replay PIN: 10030774

NIO asks its community for advice on pricing of new ES6

The post NIO to report Q1 earnings on Jun 9 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Nio NIO ES6

NIO asks its community for advice on pricing of new ES6

One possibility is that NIO may price the new ES6 at under RMB 368,000 and attribute the decision to the calls of its community.

NIO asks its community for advice on pricing of new ES6-CnEVPost

(Image credit: CnEVPost)

NIO (NYSE: NIO) is asking its community in China for advice on the pricing of the new ES6, as the SUV gets closer to its official launch.

Many NIO App users have received a push message from NIO containing a questionnaire asking them to vote on what they think is a fair price for the new ES6, according to information shared by several auto bloggers on Weibo today.

NIO offered six options in the questionnaire: below RMB 368,000 ($53,020), RMB 368,000, RMB 378,000, RMB 388,000, RMB 398,000, and above RMB 398,000.

The all-new ES6 will be launched soon, and the model has received a lot of attention since its unveiling at the Shanghai auto show, NIO wrote in the questionnaire.

"Before we officially release the price, we would like to hear from our user friends about the price of the new ES6," NIO said.

The questionnaire is due by 18:00 Beijing time on May 13.

William Li, founder, chairman and CEO of NIO, launched the 2023 ET7 sedan and gave the debut of a revamped version of the ES6 SUV based on the NT 2.0 platform at a brief launch event on the first day of the Shanghai auto show on April 18.

Li did not announce the new ES6's exact specifications or pricing at the time, saying only that the model's official launch would be in late May.

For reference, the older ES6 based on the NT 1.0 platform was previously offered in three versions -- Sport, Performance and Signature -- with starting prices of RMB 386,000, 426,000 and 496,000 respectively.

For NIO, the new ES6 will be a model of strategic importance, as it will be the least expensive of NIO's SUVs. The company's latest move underscores the high hopes it has for the model's sales prospects.

From January to August 2022, 32,877 units of the ES6 were delivered, contributing 46 percent of NIO's total deliveries of 71,556 units for the period, according to figures monitored by CnEVPost from the company and the China Passenger Car Association (CPCA).

It's worth noting that soliciting input for the pricing of new models is a rarity in the Chinese auto industry. For rational consumers, no one wants to see a high price for a product they want to buy.

NIO may have its own considerations with this move, and CnEVPost's speculation is that the company may price the new ES6 below RMB 368,000 and attribute the decision to the calls from its community.

The new ES6 is now generally seen as coming with strong features and competitive pricing, which have already sparked discontent among some owners who previously bought the ES7 SUV.

Last month, many ES7 owners formed WeChat groups to collectively express their discontent that the upcoming new ES6 means NIO has betrayed them.

NIO has yet to announce a launch date for the new ES6, although rumors last week suggested that the model would be officially launched on May 24.

($1 = RMB 6.9404)

NIO rumored to officially launch new ES6 on May 24

The post NIO asks its community for advice on pricing of new ES6 appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Categories
China Electric eMobility eV Nio Solid-state Battery

NIO files to use semi-solid-state batteries in its vehicles

NIO's models are finally close to being able to use semi-solid-state batteries, with the EV maker filing to add WeLion as a battery cell supplier in three models.  |  NIO US | NIO HK | NIO SG

NIO files to use semi-solid-state batteries in its vehicles-CnEVPost

(Image credit: CnEVPost)

NIO's (NYSE: NIO) models are finally close to being able to use higher-capacity semi-solid-state batteries, according to the latest regulatory filing.

China's Ministry of Industry and Information Technology on May 9 released a catalog of the latest batch of models that will soon be allowed to be sold in China, as well as hundreds of vehicle companies' filings for vehicle specification changes for public comment.

The public can submit feedback between May 10 and May 16. Entry into these catalogs is a key regulatory process by which a model can be allowed to be sold or approved for specification changes in China.

NIO did not file for new models but did file for three models with an expansion of the specification information to add semi-solid-state batteries to the battery information.

The three models include two SUVs and one sedan, model numbers HFC6502ECSEV9-W, HFC6502ECSEV5-W, and HFC7002CSEV1-W, respectively.

The specification changes for all three models add the use of battery cells from Huzhou WeLion Technology Co Ltd. The assembly based on this cell is produced by a subsidiary of NIO in Nanjing.

The information does not mention solid-state batteries, but Huzhou WeLion is a wholly owned subsidiary of NIO's semi-solid-state battery supplier, Beijing WeLion New Energy Technology.

NIO announced the 150-kWh semi-solid-state battery when it unveiled its flagship sedan, the NIO ET7, at the NIO Day 2020 event on January 9, 2021, although deliveries have not yet begun.

On November 22, 2022, WeLion saw the first solid-state battery cell roll off the assembly line at its battery production facility in Huzhou, Zhejiang province, eastern China.

WeLion celebrated the occasion with a ceremony attended by NIO senior vice president Zeng Shuxiang and officials from Huzhou city, according to the company's press release at the time. Zeng is the CEO of XPT, NIO's electric drive division, and a director of WeLion.

WeLion started construction of its battery base in Huzhou in 2021 and completed construction of the plant and production line after a year, said Tian Qiyou, general manager of the company's Huzhou branch at the time.

The latest specification change filing shows that with WeLion's batteries, NIO's vehicles will weigh just 20 kg more than before.

NIO has not updated information about the battery in recent months. Its co-founder and president, Qin Lihong, said at a face-to-face event in Changzhou, Jiangsu province, on February 11 that NIO owners will be able to start experiencing the 150-kWh pack during this summer.

The pack will initially be available for rent only, with a buyout option available in the future, Qin said at the time.

NIO's 150-kWh battery pack costs as much as an ET5, president says

 

The post NIO files to use semi-solid-state batteries in its vehicles appeared first on CnEVPost.

For more articles, please visit CnEVPost.