Asked about Ford’s rivals in the EV Market, Jim Farley mentioned the Chinese EV maker Nio and the sector leader, Tesla. In an interview on Yahoo Finance Live, Ford’s CEO said: “Well, the companies that I think about that I admire because of their commitment — and frankly, the hard work they did to earn their reputation — are companies like Nio and Tesla”.
“They’ve been at this a long time. They engineer their vehicles differently. I’m most respectful of Tesla’s profitability. They’re now making more than $10,000 a vehicle in their second quarter earnings.”
“We have over 10,000 orders already from a lot of different customers [for the E-Transit]. I think we just got over 1,000 orders from Walmart. So, the demand is very high,” Farley told Yahoo Finance Live. “We have about 200,000 reservations [for the Lightning]. Now we’re converting those into orders where people have to physically order the vehicle, almost very few of them are falling out.”
Tesla announced today its Earnings beating estimates with new records.
• Earnings: $2.54 per share, adjusted, vs. $2.33 per share as expected by analysts.
• Revenue: $17.71 billion, vs. $17.1 billion as expected by analysts.
• Automotive Gross Margin: 30.6%
“We aim to increase our production as quickly as we can, not only through ramping
production at new factories in Austin and Berlin, but also by maximizing output from our established factories in Fremont and Shanghai.” – Tesla said.
The Chinese EV maker Nio reached today a new 52-week-low at $22.53 during Jerome Powell speech regarding FED’s meeting. Despite the recent catalysts, share price is currently 60.09% down in the last 12 months and 28% down year to date.
On January 22th, 2022, NIO’s founder, William Li, and Manager of NO Norway, Marius Hayle, gathered with 20 Nio users for a conversation. William Li provided a lot of new information during these session regarding the ET7 and ET5 Models, Nio Navigation, Nio Operating System and the ES8 Update.
The company revealed that the ET7 Model — announced last year during NIO DAY 2020 — will arrive to Norway during Q4. It was also announced that the new ET5 Model, with 1,000km range, will be available in Norway (and several other global markets) during the Spring of 2023.