Tag: NIO

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China Electric eMobility eV Nio Wait Times

Wait times for both NIO ES7 and ET5 shortened to about 2 weeks

Both the ES7 SUV and ET5 sedan now have expected delivery dates of about 2 weeks, compared to about 3 weeks for both previously.

NIO's (NYSE: NIO) two key models have further shortened their wait times in China, after a similar change at the end of last month.

Both the NIO ES7 SUV and ET5 sedan now have expected delivery dates of about 2 weeks, compared to about 3 weeks for both previously, information from the NIO App monitored by CnEVPost shows.

On March 28, the wait time for the ES7 changed from 4-6 weeks to about 3 weeks, and the ET5 changed from 3-4 weeks to about 3 weeks at that time.

The NIO App is currently showing 8 models, including the ES8, ES6, and EC6 based on the NT 1.0 platform, and the new ES8, ES7, EC7, ET7, and ET5 based on the NT 2.0 platform.

The EC7 and the new ES8 were unveiled at NIO Day 2022 on December 24, 2022, and deliveries will begin in May and June of this year, respectively.

The waiting time information for all other models is unchanged today.

The NIO App stopped displaying the expected delivery time for the ET7 on March 13, and that information is still not displayed.

On March 28, local media reported that the current NIO ET7 has been discontinued and its facelift may be unveiled during the Shanghai auto show.

NIO delivered 10,378 vehicles in March, up 3.94 percent from 9,985 in the same month last year, but down 14.6 percent from 12,157 in February, according to figures it announced earlier this month.

Cumulative deliveries of NIO vehicles reached 320,597 units as of March 31.

NIO ES7 and ET5 wait times become shorter

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BYD China Deliveries Electric eMobility eV EV Data Insurance Registrations Li Auto Neta Nio Tesla Weekly Data XPeng

China NEV insurance registrations for week ending April 2: BYD 46,218, Tesla 14,275, NIO 2,730

In the past five weeks, vehicles had 11,929 insurance registrations. The company delivered 10,378 vehicles in March.

China's new energy vehicle (NEV) sector saw continued improvement last week, with most major players posting sales increases.

In the week ending April 2, insurance registrations for all vehicles in China were 465,500, up 46.9 percent year-on-year and up 19.9 percent from the previous week, according to data shared today by several auto bloggers.

Of these, 139,500 were NEVs, up 44.7 percent year-on-year and up 9.28 percent from the previous week, with a penetration rate of 29.96 percent.

Gasoline vehicles were 326,000 units, up 47.9 percent year-on-year and up 25.1 percent from the previous week.

vehicles continued to register the highest number of insurance units last week at 46,218, up from 43,490 the previous week.

In the past five weeks -- February 27 to April 2 -- BYD NEVs had 204,195 insurance registrations in China.

As a comparison, BYD sold 207,080 wholesale NEVs in March, including 13,312 units sold overseas, according to data it released on April 2.

Insurance registrations for vehicles in China last week were 14,275, slightly lower than the previous week's 15,886.

In the past five weeks, Tesla vehicles had 79,171 insurance registrations in China.

Tesla sold 88,869 China-made vehicles in March, including exports, according to data released earlier today by the China Passenger Car Association (CPCA).

Those numbers mean that Tesla's Shanghai plant may have exported only a few thousand vehicles in March, with the rest for deliveries to Chinese consumers.

Tesla's pattern is to produce cars for export in the first half of the quarter and for the local market in the second half.

Insurance registrations for NIO vehicles were 2,730 last week, up from 1,909 the previous week.

In the past five weeks, NIO vehicles had 11,929 insurance registrations.

NIO delivered 10,378 vehicles in March, including 3,203 SUVs, and 7,175 sedans, according to data released by the company on April 1.

(NASDAQ: LI) vehicles had 6,185 insurance registrations last week, up from 5,081 in the previous week.

In the past five weeks, Li Auto vehicles saw 24,169 insurance registrations. For comparison, it delivered 20,823 vehicles in March.

(NYSE: XPEV) vehicles had 2,034 insurance registrations last week, up from 1,564 the previous week.

XPeng's total for the past five weeks was 7,950, and the company delivered 7,002 vehicles in March.

vehicles had 2,571 insurance registrations last week and a cumulative total of 7,555 over the past five weeks. It delivered 6,663 vehicles in March.

had a figure of 3,740 vehicles in the last week and a total of 12,286 vehicles in the last five weeks. It delivered 10,087 vehicles in March.

BMW had 2,598 NEV insurance registrations last week, for a total of 9,959 over the past five weeks.

China's Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show

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China Electric eMobility eV Smart Driving Tesla Tesla FSD

Tesla reportedly to begin large-scale testing of FSD in China

will soon begin large-scale testing of FSD (Full ) in China, according to a report by Caixin on April 3.  TSLA.US

(A screenshot from the Tesla China website.)

Tesla (NASDAQ: TSLA), despite being a pioneer among electric vehicle (EV) makers in exploring autonomous driving, has been seen as slow to move in the space in China. Now, it looks like things are about to change.

Tesla is about to begin large-scale testing of FSD (Full Self-Driving) in China, local media outlet Caixin said in an April 3 report.

The story was a feature on and did not mention anything more about Tesla's FSD localization efforts in China.

Notably, this is the second time in a week that similar rumors have surfaced.

Tesla China will soon push out a major update to Autopilot, auto blogger Zheng Xiaokang, who has 532,000 followers on Weibo, said on March 27.

The blogger did not mention any more information, and in the comments section of his Weibo post, there was speculation that the update might be Tesla's vision-only V11 software.

All Tesla vehicles currently come with the free Basic Autopilot (BAP) software. In addition, Tesla offers Enhanced Autopilot (EAP), FSD software as an option.

EAP and FSD cost $6,000 and $15,000 in the US and RMB 32,000 ($4,650) and RMB 64,000 in China, respectively.

Tesla opened the EAP feature option in China on February 5, 2021, adding several features compared to BAP, including automatic assisted lane change, automatic parking, and smart summoning.

Tesla has made the EAP feature available free of charge to Chinese owners on holidays several times over the past two years, although the software has not won much praise.

The optional Tesla FSD capability has always been available, but Chinese consumers who have purchased the package have so far failed to get a significantly better experience than BAP.

In contrast, Tesla's Chinese counterparts are seeing tremendous progress with the assisted driving feature.

On March 31, (NYSE: XPEV) made its Tesla FSD-like advanced driver assistance aystem (ADAS) available for its flagship G9 and P7i models, though the capability still relies on high-precision maps for now. The feature was previously available on the P5 sedan.

XPeng plans to expand full lane-changing, overtaking and left/right turn functionality to major Chinese cities without high-precision maps in the second half of 2023, while full-scene ADAS is planned for 2024.

On February 20, (NYSE: NIO) began allowing all NT 2.0 platform models to trial NOP+ assisted driving software, which enables a point-to-point assisted driving experience on highways as well as urban expressway scenarios.

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Tesla rumored to push major Autopilot update in China soon

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China Electric eMobility eV Industry News Research Note

China auto sales sluggish on consumer sentiment, improvement expected in Q2, says Deutsche Bank

Price wars have now become the consensus among investors, setting a relatively low bar for EV makers to beat.

(Image credit: CnEVPost)

Low consumer sentiment in the wake of the Covid wave has led to weak auto sales in China, though the situation is expected to see relief in the second quarter, and the launch of new models and lower lithium carbonate prices are also encouraging, according to Deutsche Bank.

The underlying cause of sluggish auto sales in China can be mostly attributed to consumer sentiment. After a quick Covid reopening, consumers prioritized spending on services but reduced purchases of durable goods, Deutsche Bank analyst Edison Yu's team said in a research note sent to investors today.

In the first two months of the year, China saw a 12 percent year-on-year increase in the dining and lodging sector, and spending on food, clothing, jewelry and even furniture also increased, the team said, adding that the only exceptions were cars and smartphones, with the former falling 13 percent year-on-year.

In addition, as automakers cut prices, consumers felt more compelled to wait for better deals, the team said.

Price wars are now the consensus among investors, which has set a relatively low bar for electric vehicle (EV) makers to beat, the team said.

"In particular, and XPEV will see a clear sales/margin trough in 1Q followed by a large upswing from new model launches and lower lithium carbonate prices (4-6% points gross margin tailwind)," the team wrote.

Looking ahead, Deutsche Bank's China macro team believes consumer spending on durable goods should normalize in the second half of this year.

The job market is expected to improve due to a strong recovery in the service sector, and the real estate market is also on track to recover, benefiting from substantial excess household savings and favorable lending policies, according to the note.

These could lead to an increase in consumer confidence, which in turn could lead to a recovery in spending on cars and other consumer durables.

While the price war initially focused on EVs, traditional internal combustion engine automakers have also begun offering big promotions to clear their inventories, especially for vehicles that do not meet China's new emissions standards.

As a sign of the height of the price war, there were reportedly Toyota dealers offering a free gasoline car with the purchase of its bZ4x EV, which has been suffering from sluggish demand. Volkswagen has also cut prices on internal combustion engine and EV models in its lineup, the team noted.

This has led to an even more challenging pricing environment that should last at least through the end of April, Yu's team said.

"Ultimately, we expect weaker players to get squeezed out of the market (e.g., Enovate, Leap Motor, WM) and more stable pricing to emerge," the team wrote.

For the second quarter, the team continues to see industry volume growth and has raised its NEV retail sales forecast from 1.65 million to 1.75 million, implying a 32 percent quarter-on-quarter increase, a 49 percent year-on-year increase, and a 35 percent penetration rate.

Here's the team's take on the performance of the major EV makers that have already announced March deliveries.

March OEM recap

Li Auto delivered 20,823 vehicles (+25% MoM, +89% YoY), below our forecast. However, this still translated to nearly 20% market share of the 300-500k RMB premium SUV market in China. The new L7 five-seat SUV began deliveries in March and will see volume grow sequentially.

The company exited the month with 299 retail stores and 318 servicing centers.

NIO delivered 10,378 units (-15% MoM, +4% YoY), below our forecast. De-stocking of older 866 gen-1 models seems to be nearing an end.

Additionally, a face-lift is coming for the ET7 which is likely suppressing demand for that model. NIO exited the month with 1,339 battery swap stations and 1,285 fast charging stations.

XPeng delivered 7,002 units (+17% MoM; -55% YoY), below our expectations. P7 did sell 3,030 units though, representing a 32% sequential improvement. The P7i face-lift should help volume in 2Q as management expressed confidence in the initial order book.

also began the rollout of the first part of its XNGP high level ADAS platform in Guangzhou, Shenzhen, and Shanghai, enabling city pilot capabilities for its newest models.

Initially, the systems will still use HD mapping but this will be phased out in 2H23 allowing the full capabilities of XNGP to work in greater number of cities.

The company believes its software perception running on XNET deep neural network training will allow it to reduce reliance on HD mapping which only a few large cities have available.

delivered 6,663 vehicles (+22% MoM; +271% YoY).

NIO delivers 10,378 vehicles in Mar, down 14.6% from Feb

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China Electric eMobility eV Nio Tesla William Li

China EV 100 Forum: NIO’s William Li’s full speech

has nearly completed 20 million battery swap services, with an average of one NIO vehicle leaving a battery swap station with a fully charged battery every 1.9 seconds, said Li.  NIO US | NIO HK | NIO SG

The China EV 100 Forum, held in Beijing from March 31 to April 2, brought together some of the biggest names in China's automotive industry.

William Li, founder, chairman and CEO of NIO (NYSE: NIO), spoke at the event on April 1.

Below is the full text of Li's speech, translated and edited by CnEVPost.

Dear chairman Wan, president Qingtai, minister Miao, and distinguished guests, I am very glad to have the opportunity to share some of NIO's latest ideas.

Last year we delivered 122,486 units of high-end smart electric vehicles, which is not a lot compared to our peers, especially compared to .

However, the average price of the vehicles we delivered last year reached RMB 437,000. It can be said that each NIO has witnessed the upward upgrade of China's auto brands.

In the fourth quarter of last year, we had a 54.8 percent market share in the premium EV segment above RMB 300,000 and a 75 percent market share in the premium EV segment above RMB 400,000, and we're doing pretty well in terms of share.

It's true that everyone is facing a lot of difficult choices today, and the uncertainty in the industry is very high.

In our transition from fuel to electric vehicles, what should be the pace of development of the industry? I think we all have a lot of confusion, including myself. These are some of the very difficult choices we are facing.

NIO is a start-up company, and we are not in a position to stop and think too much.

We are determined to invest for the final win while ensuring the risk of our operation is manageable and improving efficiency, which is one of the things we have thought through.

We are investing in three main areas.

First, we are continuing to invest in core technology research and development.

Last year, NIO did lose some money, but I still want to tell you that it was mainly in R&D. However, the money lost on R&D, I think it is an investment.

NIO has been making R&D layouts globally since its creation in 2015. Even in 2019 when the company was about to close, we did not close the office in Europe, we did not close the office in Silicon Valley.

We have now established more than 10 R&D centers in the US, Europe and China.

Our R&D investment in the fourth quarter of last year was close to RMB 4 billion, and our annual R&D investment for the year reached RMB 10.8 billion.

Last year, our annual revenue was nearly RMB 50 billion, so I should say that the proportion of R&D investment is very high.

We will further increase our R&D investment this year, and are now making a comprehensive investment in the full-stack capability of intelligent electric vehicles, including chips, underlying operating systems, materials, and battery cells.

From day one, NIO has never taken anything from anyone else for reverse R&D. We started from a single line to build our cars, electric technology, intelligent technology, and all-aluminum body.

We did all of these ourselves, and this has been our tradition since 2015.

We now have over 10,000 R&D staff and we will still hire close to 2,000 recent college graduates this year and will train them for the long term.

NIO has been granted more than 6,000 patents covering the entire full stack of smart electric vehicle technologies.

We are very pleased to see that we have won the first prizes in the Chinese automotive industry for two consecutive years in 2021 and 2022, and these are the recognition of us.

Not only in China, but also in Europe, our ET7 won the most weighty model award in basically every country we entered last year.

For example, last year we won the most influential "Golden Steering Wheel" in Germany. This is the highest award for mid to large-size cars and the first time that a Chinese brand has won such an award in Germany. We can say that these have witnessed the upward journey of our brand.

Second, one of the directions we have resolutely invested in is the continuous construction of charging and battery swap infrastructure.

Charging and battery swap infrastructure is one of the most important factors determining the user experience of electric vehicles.

When we started research and development in 2015, we set down the service system of chargeable, swappable and upgradable.

In terms of charging piles, we have gone to a lot of trouble in helping users to install more than 180,000 charging piles.

We also installed more than 14,000 public charging piles, and this is open, more than 80 percent of the power is used by non-NIO owners. This includes , BYD, and many of our peer brand vehicles.

We have access to over a million third-party charging piles globally, and in both China and Europe, we have partnered with the most important local charging pile operators.

We just installed 500 kW ultra-fast charging piles two days ago, which has a bi-directional charging module that we developed ourselves.

This supercharger can in fact reach 650 kW power, and together with our battery swap stations, it can increase the efficiency to a very high level. We are now mainly building integrated stations with both battery swap service and charging piles.

We have deployed 52 destination charging routes in China, such as the route from Sichuan to Tibet and the route to Everest Base Camp.

We will deploy destination charging routes to our customers whenever they want to go, and we will add more than 20 routes this year.

We have already built 1,326 battery swap stations in China, in this picture is the one in Lhasa.

We have also deployed 13 battery swap stations in Europe, and they have been well received in five European countries.

Two days ago we just commissioned our third generation battery swap stations in Hainan, and battery swap has become the most popular way to replenish energy for NIO users.

On February 14, 2022, for the first time, the power provided by our battery swap stations exceeded that provided by charging facilities, and now the ratio has reached 60 percent.

In addition to charging at home, owners are essentially using battery swap stations, and that percentage is much higher than we had anticipated.

We are close to completing 20 million battery swaps, which should be seen in the next two days. On average, every 1.9 seconds an NIO vehicle departs from a battery swap station with a fully charged battery.

Battery swap has many advantages, I won't go into details here.

We have already built a network of battery swap stations covering five vertical highways, three horizontal highways, and eight city clusters.

By 2025, we will have a network of battery swap stations covering 9 vertical highways, 9 horizontal highways, and 19 city clusters, and by then NIO car owners will be able to travel on highways without worry.

Our goal for this year is to add 1,000 battery swap stations, and by the end of this year, we will have 2,300 stations.

We will also add 10,000 new battery swap stations, and in fact, we are the most aggressive car brand in China in deploying battery swap stations.

People always think of battery swap when they think of NIO, but we're actually doing a great job with charging facilities as well.

That's the second point, we will be determined to build the infrastructure.

Third, we will enter the global market with the determination to serve more customers.

On September 30, 2021, we started to deliver in Norway. Many of our Chinese counterparts deliver vehicles in Norway, and we have reached the first and second places in some segments.

On October 7 last year, we officially announced our entry into Europe in Germany, the Netherlands, Denmark and Sweden.

We had a European launch event in Berlin with more than 1,000 guests, which was well received by everyone.

On October 16 last year, we officially started to deliver vehicles in four European countries.

In fact, just two days ago, we just opened our NIO House in Frankfurt, after having opened our NIO House in Berlin and NIO House in Rotterdam.

Overall, this is indeed a particularly challenging time, and NIO has chosen to do the right thing in the long run by making a long-term investment. We believe that this kind of investment will eventually reap good results.

This is also a photo of one of our horizons in the Netherlands, taken by a Dutch photographer, heralding a field of hope.

I believe that the development of smart electric vehicles is a difficult journey, and the road ahead is long and full of obstacles. But if we move forward, we will reach our goal. The future is promising.

I hope we can have a bright future together, thank you.

NIO's battery swap network open to other brands, just like cloud service, says William Li

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Battery Swap China Electric eMobility eV Nio William Li

NIO’s battery swap network open to other brands, just like cloud service, says William Li

's battery swap stations are well adapted and the time has come to offer output to other brands, according to Li.  |  NIO US | NIO HK | NIO SG

(Image credit: CnEVPost)

The man at the helm of NIO (NYSE: NIO) reiterated that the company's battery swap stations network is open to other brands, and compared the service to a cloud service.

NIO wants other companies to share and build battery swap infrastructure with it, said William Li, the company's founder, chairman and CEO.

Li mentioned this during a media group interview on April 1 during the China EV 100 Forum, saying that there have been discussions between other car companies and NIO on the matter, according to a report today by local media outlet The Paper.

"I met with several company executives today and they asked me how we could work together, and we're open to that," he said.

With 80 percent of the power provided by NIO's charging stations being used by other brands of electric vehicles, it's feasible for the company to offer battery swap services to other car companies, he said, adding that it's just that other automakers would need to design vehicle chassis based on the specifications of NIO's battery packs.

NIO's battery swap stations have a reasonable degree of adaptability, and the time has come to provide output to the outside, Li said.

He said the company calls its battery swap model "battery as a service (BaaS)", an innovation that can be understood through the lens of cloud services.

Cloud services around the world, whether they are offered by Microsoft, Google and Amazon in the United States or Alibaba, Tencent and in China, they all have one thing in common: The companies themselves are the primary users.

"You certainly can't achieve this kind of service if you're not the biggest user yourself," he said.

On top of being available for their own use, such systems need to be open, and the hardware interfaces, software interfaces, and operational interfaces all need to be complete, said Li.

NIO's battery swap stations are being offered for two generations of vehicle platforms and have supported six models so far, including models from 2018 to 2023.

"I think it's very well adapted and the internal interfaces are very mature," Li said, adding, "We feel that the time has come for it to provide output to the outside world, and we are very willing to explore that with our peers."

It's a bit like Amazon's cloud service, which requires the company to sort out internally the timeline for offering the service externally, he said.

However, Li also noted that, like the time it takes to migrate when using new cloud services, the matter of NIO's battery swap service being available to other brands requires peers to work together to plan ahead before it can be realized in two or three years.

NIO aims for swap stations to serve partly as showrooms in underdeveloped cities

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Auto Show China Electric eMobility eV Nio NIO ES6

NIO’s new ES6 to debut at Shanghai auto show later this month

will showcase six models based on the latest NT 2.0 platform at the Shanghai auto show, with the all-new ES6 making its debut.

NIO (NYSE: NIO) will have the facelift of its previously popular ES6 SUV unveiled at the Shanghai auto show later this month, marking the first time the company has unveiled a new model at an auto show.

The company will showcase six models based on its latest NT 2.0 platform at the Shanghai auto show, with the all-new ES6 making its debut, it said in a post announcing March delivery figures on its WeChat account.

The upcoming biennial Shanghai auto show will be held from April 18-27, with the press days from April 18-19 and the professional visitors' days from April 20-21, while the general public can visit from April 22-27.

NIO App is currently showcasing eight models, including the ES8, ES6 and EC6 based on the NT 1.0 platform, and the new ES8, ES7, EC7, ET7 and ET5 based on the NT 2.0 platform.

The EC7 and the new ES8 were launched at NIO Day 2022 on December 24, 2022, and deliveries are set to begin in May and June 2023, respectively.

NIO did not provide any further information on the new ES6, but the model has appeared in a regulatory catalog in China in January.

On January 11, the Chinese Ministry of Industry and Information Technology released a list of models that will soon be allowed to be sold in China, and the new NIO ES6 was included.

The new NIO ES6 has a length, width and height of 4,854 mm, 1,995 mm and 1,703 mm, respectively, and a wheelbase of 2,915 mm, according to the model's filing page.

The model's LiDAR and camera setup are in line with the other current NIO models based on the NT 2.0 platform. Its rear end also features a through-tail lamp design similar to the ET7, rather than the split design of the current model.

The new ES6 is something to look forward to, as its predecessor was NIO's cheapest SUV, contributing the most sales for the company in a very long time.

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

Regulatory filing: Here's what NIO's new ES6 looks like

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China Deliveries Electric eMobility eV EV Data Monthly Data Nio

NIO delivers 10,378 vehicles in Mar, down 14.6% from Feb

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

NIO (NYSE: NIO) delivered fewer vehicles in March than in February, with the first quarter figure barely above the lower end of the previous guidance range.

NIO delivered 10,378 vehicles in March, up 3.94 percent from 9,985 a year ago but down 14.6 percent from 12,157 in February, according to figures it announced today.

That delivery volume included 3,203 SUVs, and 7,175 sedans, the company said, without providing a breakdown of the different models.

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

The deliveries were up 20.46 percent from 25,768 units in the same period last year, though down 22.5 percent from 40,052 in the fourth quarter.

NIO's guidance for first-quarter revenue was RMB 10.93 billion to RMB 11.54 billion when it announced its fourth-quarter earnings results on March 1.

As of March 31, cumulative deliveries of NIO vehicles reached 320,597 units.

Beginning March 28, NIO has rolled out the deployment of its third generation of swap stations in China, each with a service capacity of up to 408 swaps per day, the company said.

As of March 31, NIO had deployed 1,339 battery swap stations and 1,285 charging stations, including 6,467 chargers, worldwide. It also has 1,154 destination charging stations worldwide, including 7,993 chargers.

NIO will accelerate the expansion of its battery swap network and plans to install 1,000 battery swap stations in 2023, it said, repeating a previous goal.

NIO has been gradually releasing NOP+ Beta to NIO Technology 2.0 (NT 2.0) based vehicles. Since its debut on December 27, 2022, more than 30,000 users have activated and participated in the NOP+ Beta, accumulating more than 15 million kilometers, it said today.

Powered by NIO's internally developed full-stack smart driving technology and closed-loop data management, NOP+ Beta has achieved significant improvements in peace of mind, comfort and efficiency, it said.

Going forward, NIO will progressively deliver more features through over-the-air updates to continuously enhance the user's smart driving experience, the company said.

NIO CFO says confident of meeting this year's sales target

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China Electric eMobility eV Nio NIO Phone Tesla William Li

NIO’s 1st phone model to be launched in Q3, says William Li

Li also said that 's price cut comes after it faced stiff competition in China, where it does not have pricing power.

(Image credit: CnEVPost)

's (NYSE: NIO) first phone model will be launched and delivered in the third quarter, William Li, the electric vehicle company's founder, chairman and CEO, said today.

Li mentioned the plan in a media group interview today during a forum on China's electric vehicle industry, according to multiple media reports, without providing further details.

Li confirmed in late March last year that NIO would be getting into phone making, saying the company's NIO customers wanted to see a phone that connected better with NIO cars, which prompted the company to look into the industry.

In an internal presentation at the end of November last year, Li said the decision to make the phone was based on long-term strategic thinking over a 5-10 year horizon.

In addition to mentioning a timeline for the launch of the first NIO phone, Li said in an interview with National Business Daily that Tesla doesn't have pricing power in China.

"Tesla's price cut was an action taken after facing stiff competition in the Chinese market, where it doesn't have pricing power," Li said.

Tesla has pricing power in the US market because it has a 60 to 70 percent share in the new energy vehicle (NEV) market there, Li said, adding that in China's NEV market, Tesla has only a 7 percent share.

With 60,766 retail sales in China in January-February, Tesla ranked second in the Chinese NEV market with a 7.8 percent share, according to data released last month by the China Passenger Car Association (CPCA).

retail sales in January-February were 316,417 units, ranking first in China's NEV market with a 40.8 percent share.

NIO sold 20,663 units in the same period, ranking 8th with a 2.7 percent share.

BYD clearly has pricing power, and interestingly, the man at the helm of the NEV giant also mentioned the topic earlier this week.

BYD has pricing power in the price range of RMB 100,000 ($14,560) to RMB 200,000, but the company wants to keep things steady, its chairman and president Wang Chuanfu said at a March 29 investor conference.

BYD doesn't want to make it hard for others to survive, Wang said.

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The common feature of NIO, Li Auto, XPeng's mobile apps? Pretty girls!

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China Deliveries Electric eMobility eV Nio NIO ET5 NIO Europe

NIO begins ET5 deliveries in Europe

ET7 deliveries in Europe began last October, and EL7 deliveries there began at the end of January.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO App)

NIO (NYSE: NIO) began ET5 deliveries in Europe on March 31, the day before it opened its second NIO House in Germany.

The company saw the first deliveries of the electric sedan in Germany, Sweden and the Netherlands, according to the information posted on the Chinese and European versions of the NIO App.

NIO co-founder and president Qin Lihong was in Germany to witness the first ET5 deliveries there.

No information has been released about ET5 delivery figures in Europe. The company is expected to announce its deliveries of all vehicles in March later today.

NIO launched the ET7, ET5 and the EL7, known in China as the ES7, in Europe last October. ET7 deliveries began in Europe last October, and EL7 deliveries began at the end of January.

NIO initially only allowed European consumers to lease vehicles through NIO Subscription, with purchase options available starting in late November.

These products are made available for order gradually in Norway, Germany, the Netherlands, Denmark and Sweden through the NIO Subscription, lease program and direct sales to customers, NIO said on November 1 last year while announcing delivery figures for October.

The announced delivery volume represents vehicle deliveries through direct sales to users as well as to the leasing program partner in Europe in accordance with the revenue recognition policy of the company's vehicle sales, NIO said at the time.

The vehicles under NIO Subscription in Europe are recognized as assets on the company's balance sheet, but are not counted in the announced deliveries, according to the company.

The day before deliveries of ET5s began in Europe, NIO opened a new NIO House in Frankfurt, its second in Germany.

NIO opens new NIO House in Frankfurt, its 2nd in Germany

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