CnTechPost CnTechPost
  • News
    • Tech
    • Gadgets
    • Software
    • Stocks
    • Crypto
  • Contact
  • About
  • CnEVPost
  • News
    • Tech
    • Gadgets
    • Software
    • Stocks
    • Crypto
  • Contact
  • About
  • CnEVPost

NIO founder says Tesla's price cuts won't have much impact on the EV maker

Phate Zhang Nov 18, 2020 21:56 GMT+8

NIO founder says Tesla's price cuts won't have much impact on the EV maker-CnTechPost

Tesla's first price cut in China had some impact on NIO's orders, "but the subsequent and recent price cuts have had no impact on us," said NIO founder William Li Bin during the Q3 2020 earnings call.

Li said Tesla's recent big price cuts around the National Day holiday had no impact on NIO's orders, and "October was still a record month for orders.

"The market is big enough," Li said, noting that their main competitors should be fuel cars.

Li also said that NIO will soon release its fourth model, a sedan, which will be powered by NP2.0, and that NIO has begun the development of its fifth model, also a sedan.

NIO and Tesla are starting to face each other

NIO expects to deliver a record number of 16,500-17,000 vehicles in the fourth quarter of this year and expects fourth-quarter revenue of 6.26-6.44 billion yuan, up 38.3-42.2 percent from the previous quarter.

NIO delivered 12,206 vehicles in the third quarter of 2020, including 8,660 ES6s, 3,530 ES8s, and 16 EC6s.

This compares to 4,799 vehicles delivered in NIO's third quarter of 2019 and 10,331 vehicles delivered in the second quarter of 2020.

Elon Musk suggests Tesla is 10 times better than NIO

#Electric Car#Electric Vehicle#EV#NIO#Tesla
1
Phate Zhang
Phate is the founder of CnTechPost and the main author of the site. He has been reporting in Chinese and English since 2009, focusing on macroeconomics and capital markets. He is also a tech enthusiast, and it is his interest to follow tech industry developments.
Comments (0)
Back
    Leave a comment
Recent Posts
  • Chinese video platform iQIYI reportedly to lay off 20-40% of its workforce Dec 1, 2021
  • Xiaomi's MIUI surpasses 500 million monthly active users worldwide Nov 24, 2021
  • Education stocks soar with reports that China will resume after-school tutoring Nov 8, 2021
  • Huawei posts sales revenue of about $71.3 billion in first 3 quarters Oct 29, 2021
  • MSMEs call for stronger women empowerment on digital transformation Oct 25, 2021
  • Home
  • Tech
  • Stocks
  • Gadgets
  • Software
  • Crypto
  • Cars
  • About
  • Contact Us
  • Privacy Policy
Copyright © 2022 CnTechPost. Designed by CnTechPost.