Following the delivery numbers reported earlier today, Morgan Stanley analyst Tim Hsiao released a new note on NIO saying he expects the EV maker to deliver between 36,000 and 38,000 vehicles in Q3 2022.
Considering that NIO announced today the delivery of 10,052 units in July, Hsiao expects the company to deliver an average of 12,974 vehicles per month in August and September in the bearish case scenario and an average of 13,974 vehicles per month in the bullish case scenario.
Bearish Case Scenario
|August||(average of 12,974)||23,026|
|September||(average of 12,974)||36,000|
Bullish Case Scenario
|August||(average of 13,974)||24,026|
|September||(average of 13,974)||38,000|
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The analyst believes that the ET7, the ES7 model, and also the revamp of the older ones (ES8, ES6, and EC6) will be crucial for the production ramp over the next months.
In addition, Hsiao sees the recently rumored sub-brand code-named FireFly as a “non-event until the group gives further clarity on its strategy”.
The July delivery numbers represented an increase of 26.7% when compared to the same period in 2021 and a decrease of 22.4% sequentially. The deliveries consisted of 7,579 SUVs (ES8, ES6 and EC6) and 2,473 ET7s.
Last Friday, NIO signed an agreement with the Hungarian Government in order to set up its 10,000 square meters plant in the country, the first one outside China. The plant will serve as the “manufacturing, service and R&D center for the brand’s Power products and services in Europe with the main activities being production and after-sales service for battery switching stations, training of NIO employees and R&D in energy applications”, NIO said.
Earlier in the day, NIO’s senior vice president Zeng Shuxiang unveiled that the company rolled out the first electric drive system C sample for the upcoming ET5 model at NEO Park. NIO VP also stated that the EV maker “is one of the very few companies in the world with a full-stack self-developed and manufactured electric drive system and the only automaker with independent forward R&D capabilities”.
At an event with NIO users held recently in Fuzhou, China, the CEO William Li said the company is progressing with the NIO phone business. According to the blogger 德卤爱开车, Li said the company aims to launch a new phone every year like Apple while assuming the biggest challenge is to create a mobile phone easy to use.