Shares of Chinese language electric automobile maker NIO (NYSE:NIO) had been rising on Thursday, following reviews from a press conference by which the firm’s CEO talked about some of NIO’s targets for 2021.
As of 1: 15 p.m. EDT, NIO’s American depositary shares had been up about 4% from Wednesday’s closing impress.
NIO held an tournament on Wednesday to impress the production of its 100,000th automobile. At a press conference following the tournament, CEO William Bin Li shared a pair of objects of ardour to electric automobile traders.
First, Li confirmed that NIO, alongside with the metropolis of Hefei, will launch up constructing a brand recent industrial park for “gorgeous electric automobiles” on April 29. The plan to create the park — phase of a elevated plan to keep Hefei as a heart for electric automobile type — became as soon as phase of a bailout deal for NIO that became as soon as keep together by native financial type authorities closing year. The park will encompass a brand recent NIO factory.
The mission will doubtless be led by a joint mission between NIO and its recent manufacturing accomplice, JAC Motor, Li talked about.
NIO notorious the production of its 100,000th automobile at an tournament in the metropolis of Hefei on Wednesday. Image provide: NIO.
Li moreover gave an update on the firm’s plan to create extra automatic battery-swap stations in China this year. NIO is in the formulation of rolling out an improved situation originate and hopes to beget no lower than 500 stations working by the end of 2021. That’s roughly double the total it had at the end of 2020.
The battery-swap stations are a key ingredient of NIO’s “batteries-as-a-provider” program, by which shoppers grab a NIO with out a battery pack after which pay a monthly fee to subscribe to the battery-swap provider. This scheme affords the client a decrease up-entrance impress, making NIO’s automobiles accessible to extra of us, whereas providing NIO with ordinary earnings.
Li moreover confirmed that NIO now has the production capability to create as a lot as 10,000 automobiles monthly. But, he talked about, the firm is limiting production to 7,500 monthly in the intervening time, in light of ongoing shortages of battery cells and semiconductors.
Li talked about the semiconductor shortage could maybe maybe presumably trigger extra production disruptions for NIO over the subsequent couple of months, nonetheless he expects affords to enhance in the third quarter.
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John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends NIO Inc.. The Motley Fool has a disclosure policy.”>