Written by Cláudio Afonso | info@claudio-afonso.com
NIO Inc. announced today that delivered 6,131 vehicles during February 2022. February deliveries are often affected by the Chinese Spring Festival Hollidays where the factories usually close from January 31st to February 6th.
NIO delivered 6,131 vehicles in February 2022, representing an increase of 9.9% year-over-year. The deliveries consisted of 1,084 ES8s, the Company’s six- or seven-seater flagship premium smart electric SUV, 3,309 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 1,738 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of February 28, 2022, cumulative deliveries of the ES8, ES6 and EC6 reached 182,853 vehicles.
During the production suspension of the NIO-JAC manufacturing plant in the Spring Festival holiday from January 31 to February 6, 2022, the Company adjusted the production lines to prepare for the delivery of ET7 in March 2022.
On February 28, 2022, the Company received a letter of in-principle approval from the Stock Exchange of Hong Kong Limited (the “SHEK”) for the secondary listing of its Class A ordinary shares by way of introduction on the Main Board of the SEHK with the trading expected to commence on March 10, 2022.
Deustche Bank analyst Edison Yu released on Monday a note reiterating Nio’s Buy rating and the $70 price target, representing an upside of 206% for the next 12 months. The analyst believes that the secondary listing should put away the delisting fear for the Chinese Ev manufacturer.
On Monday, Bernstein analyst Eunice Lee reiterated a Market Perform rating and $40.00 price target (down from $45) on NIO after the company unveiled that is set to offer its shares for trading in Hong Kong as soon as March 10th.
Lee sees the latest move as a positive step towards eliminating the delisting risks concerning ADRs on American Exchanges. After Hong Kong and Singapore, the analyst sees potential for Nio to be traded on Shanghai stock exchange in the future.
“Listing by introduction is a quicker way of getting listed and poses no dilution to existing shareholders. The downside of a secondary listing is that the company is restricted from raising fresh capital or issuing new shares in the next 6 months. NIO will not be eligible for trading on the Hong Kong-China Stock Connect. In comparison, XPeng and Li Auto both have dual-primary listings in the U.S. and Hong Kong and would be eligible for trading by qualified Chinese investors through the Stock Connect.”
The company announced recently the opening of its new NIO House located in Yueqing Bay, Zhejiang Province in eastern China. The Chinese EV maker has currently 44 Nio Houses across the globe and opened its first European one in September 2021 located in Oslo (Norway) — the country with the highest EV penetration.
Last week, NDS (Navigation Data Standard) Association announced the Chinese EV maker Nio as their new member. Martin Schleicher, NDS Chairman, describes Nio as a “strong Asian partner” that has a “future vision”. NDS offers a well-defined spec for how to store map data and it allows flexibility for customized user experiences. Its maps work worldwide and are globally adopted.
“Navigation technology and globally reliable data standards are another field that NIO can advance with its vision and development strength. Therefore, the NDS membership is a great enrichment for the future of this global association of innovation-focused companies and their common goals.” — NDS stated.
Recently, Nio posted 8 new job vacancies in London (England) suggesting that it can be its next European Market after the already announced Sweden, Denmark, Germany and The Netherlands. Nio started selling its ES8 Model in late 2021, in Norway (the country with the highest EV penetration) and is now intensifying its move to the United Kingdom. Nio has currently 11 vacancies for England, eight of them posted during the last 24h on LinkedIn.
Written by Cláudio Afonso | info@claudio-afonso.com
