Nio will receive an investment of up to CNY 10 billion ($1.45 billion)

6 June 2019, 04:29:40

Nio will receive an investment of up to CNY 10 billion ($1.45 billion)The state-owned fund E-Town Capital in Beijing will make an investment of up to CNY 10 billion ($1.45 billion) in Nio. The two parties have made a framework agreement as a result of which a new company dubbed Nio China will be created. The money will be spent on R&D and user network improvement. E-Town Capital is known to support electric vehicle manufacturers. It already has investments in the Daimler BAIC joint venter and the BAIC BJEV subsidiary.

In addition, a new factory for vehicles based on Nio's next-generation platform will also be backed by E-Town Capital. At present, Nio uses JAC Motors'facility in the Anhui province of China to build its vehicles, which comes at a serious cost. It has plans to build a factory in Shanghai but in March this plan was suspended.

"The JAC plant has a production capacity of 100,000 units a year. Obviously, we need more. I don't think it will be enough for us to sell 100,000 cars a year," said Nio founder William Li in an interview with the 21st Century Business Herald newspaper.

It looks like with this investment, Nio will get some slack as its current financial situation is bad. Its losses worsen by 70% year-on-year increasing to $390 million. Sales decline significantly being 50% less in Q1 of 2019 compared to Q4 in 2018. At the same time, government subsidies for the Nio ES8 were cut by 40% per vehicle last year and will be cut further beginning June 26. The overall Chinese car market began to slow down in July 2018 and there are no prospects that it will recover soon.

"Looking ahead to the second quarter, we expect an even more challenging sales environment and anticipate overall sequential demand and deliveries to decrease as competition continues to accelerate and the general automobile market in China remains muted," Louis T. Hsieh, Nio's chief financial officer, said in a statement.Source

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EV Specifications

Complete specifications of EVs, grouped according to their brand and year

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Length: 172.2 in / 4375 mm
Width: 71.1 in / 1805 mm
Height: 61.4 in / 1560 mm
Curb weight: 3994.78 lb / 1812 kg
Electric motor: 150 kW @ 3800 - 8000 rpm, 395 Nm, Location: Front
Battery: 64 kWh, Voltage: 356 V

2022 Tesla Cybertruck

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Length: 231.7 in / 5885 mm
Width: 79.8 in / 2027 mm
Height: 75.0 in / 1905 mm
Location: Rear
Location: Front

2021 Ford Mustang Mach-E

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Doors: 4, Seats: 5
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2021 Ford Mustang Mach-E

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Length: 186.0 in / 4724 mm
Width: 74.0 in / 1880 mm
Height: 63.0 in / 1600 mm
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2020 Tesla Model X

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Length: 198.3 in / 5037 mm
Width: 78.7 in / 1999 mm
Height: 66.0 in / 1676 mm
Curb weight: 5740.84 lb / 2604 kg
Electric motor #1: 375 kW @ 6150 rpm, 660 Nm, Location: Rear
Electric motor #2: 193 kW @ 6100 - 6800 rpm, 330 Nm, Location: Front
Battery: 100 kWh, Voltage: 350 V

2020 Tesla Model S

2020 Tesla Model S Performance (SR)

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Length: 196.0 in / 4978 mm
Width: 77.3 in / 1963 mm
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Curb weight: 4940.56 lb / 2241 kg
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Electric motor #2: 193 kW @ 6100 rpm, 330 Nm, Location: Front
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2020 Tesla Model 3

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Length: 184.8 in / 4694 mm
Width: 72.8 in / 1849 mm
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Electric motor #2: 147 kW, Location: Front
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2020 Tesla Model Y

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2020 Tesla Model Y

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Doors: 4, Seats: 5 / 7
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2020 Tesla Model Y

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