12On 5 May, NIO disclosed its third quarter 2023 results on the HKEx.。

Weilai's third-quarter revenue reached 190, according to earnings data.6.7 billion yuan (RMB, the same below), up 46.6%, up 117.4%, a record high, of which electric vehicle sales 174.09 billion yuan, up 45% year-on-year.9%, up 142% month-on-month.3%; net loss 45.5.7 billion yuan, up 10.8%, ring ratio down 24.8%; gross profit down 12% from last year.2% to 15.2.3 billion yuan; Group gross margin narrowed to 8%, compared with 1.3 billion yuan in the same period last year..3%。

During the period, 55,432 vehicles were delivered, including 37,585 high-end smart electric SUVs and 17,847 high-end smart electric cars, up 75% year-on-year..4%, an increase of 135.7%, driving a significant increase in auto sales during the period。Weilai delivered 16,074 vehicles in October and November respectively。By the end of November 2023, the cumulative delivery volume of NIO reached 431,528 vehicles.。

For the upcoming fourth quarter, NIO expects vehicle deliveries in the quarter to be around 4.70,000 to 40,000.between 90,000 vehicles, up about 17 percent from the same period in 2022..3% to 22.3%; total income up to 160.$7.9 billion to $167 billion.01 billion yuan, an increase of about 0.1% to 4.0%。

Li Bin, founder, chairman and CEO of NIO, said the company recently completed a comprehensive planning of the company's two-year operating plan to identify key objectives, priorities and action plans。

Focus on "Products + Services":Lowering prices is no coup

Li said the next two years will be the most competitive stage for the automotive industry to transform its business, and the company will continue to focus on advancing core technologies, developing key products, and enhancing sales and service capabilities.。

In view of the huge uncertainty of the external environment, NIO will focus on "cost-effective" project investment to comprehensively improve organizational efficiency and resource efficiency on the premise of ensuring that three brands and nine core products are listed at the same time.。And for the current weak situation, will not take the price reduction in exchange for sales, but focus on the improvement of gross margin, through the sales service system to drive sales.。

To date, NIO has a total of 469 NIO centers and spaces worldwide, covering 152 cities, 314 service centers and 62 delivery centers, covering 217 cities.。

On September 15 this year, NIO launched and began to deliver the new smart electric coupe SUV EC6 during the period, enriching its product portfolio。

On the upcoming NIO Day (December 23), NIO will also launch a new flagship model with many technologies "leading the world."。Allegedly, this car is the crystallization of technological innovation, or will become a new benchmark。Prior to the industry news, the car or named ET9, positioning will be in the million level。

In addition, Li Bin said on the earnings call that the first car of the company's second brand "Alps" has recently completed the trial production of the VB car (development and verification of a trial prototype).。The two brands are independent in terms of sales, sharing part of the service network, but not sharing offline stores.。

From the positioning point of view, the Alps model is significantly lower than the NIO, the main focus on the mass market, the price of the main product may be around 200,000, will be benchmarked against Tesla, extreme krypton, Xiaopeng and other brands.。

Power exchange network expansion, into the public view

To date, NIO has set up 2,226 power exchange stations and 9,400 overcharged piles, providing users with more than 32 million power exchange / replenishment services, but the ambitious NIO is clearly not satisfied with the current scope of services.。

For the question of increasing the input of power exchange, Li Bin explained: "domestic urban users live in apartments, more than 50% of users are difficult to install charging piles, so for domestic users, especially the mass market, the power exchange experience will be better.。"

In the future, Weilai will build two kinds of power exchange service network: dedicated network and shared network, both Weilai brand and Alpine brand can be used, shared network is dedicated to other car companies.。

In November this year, Weilai and Changan Automobile, Geely Holdings signed a power exchange cooperation agreement, Weilai power exchange system will be officially from the private domain exclusive to the field of public services, with more partners in the power exchange battery standards, power exchange network, power exchange models, research and development, batteries, asset management and other fields of cooperation.。It can be seen that power exchange will become the mainstream tram energy supplement method, and Weilai's power exchange route is out of a "infrastructure first - internal closed loop - full scene verification - open to the outside world" path, to help the development of new energy vehicle industry.。

In the long run, the profitability of the power exchange business is worth looking forward to。After more than five years of actual operation, Weilai's power exchange business has the ability to open up to the outside world.。At present, the charging pile business has basically achieved break-even, there are other investors interested in NIO Power's independent financing, the future does not rule out the possibility of NIO Power independent financing.。

"Break up" Jianghuai, open the era of independent car building

On December 4, Weilai Automotive Technology (Anhui) Co., Ltd. appeared in the "Vehicle Manufacturing Enterprise Credit Information Management System" of the Ministry of Industry and Information Technology, and its legal representative was Qin Lihong (now co-founder and president of Weilai Automotive).。At the Weilai Manufacturing Day held the next day, Qin Lihong said that more information is not yet convenient to disclose, and will communicate with you at your convenience.。

In the eyes of industry insiders, this means that Weilai is about to bid farewell to the foundry model, began to build cars independently, the new car tail label "Jianghuai Automobile" words will also become history, and Weilai the next day released the third quarter earnings report also confirmed this point.

Information shows that Weilai has entered into a definitive agreement with Anhui Jianghuai Automobile Group Co.。Under this agreement, NIO will acquire the production equipment and assets of the first advanced manufacturing base (F1 plant) and the second advanced manufacturing base (F2 plant) from JAC, with a total price of approximately 31.600 million yuan。

As one of the state-owned automobile manufacturers, JAC started a cooperation with Weilai in 2016 to jointly manufacture Weilai EC6, ES6, ES8 and other models.。The cooperation model brings complementary advantages to both sides, with Weilai leveraging Jianghuai's manufacturing experience and resources to improve product quality and delivery efficiency, while Jianghuai leveraging Weilai's technology and brand to expand the new energy vehicle market.。

on october 19 this year,Jianghuai Automobile announced that the company intends to transfer part of the company through public listing.Assets, involving the inclusion ofThree asset packages, including three factory inventories of passenger car companies, to be listed at 44.9.8 billion yuan, value added 2.8.6 billion yuan, value added rate of 6.79%。

Today, Weilai has made up the last piece of the puzzle as a vehicle company, becoming the first, the first batch of "new forces" car companies to get the qualification to build cars.。

Financial data show that with the increase in sales, Weilai to Jianghuai to pay contract manufacturing costs also climbed, this quarter to Jianghuai Automobile to pay contract manufacturing costs of about 17.5.4 billion yuan, compared with about 1.1 billion yuan in the same period last year..2.7 billion yuan。Although out of the old chess game, but this also added up to more than 3 billion yuan of capital costs, Weilai ushered in the greatest financial pressure moment。

This acquisition is not only the threshold for Weilai to officially step into the vehicle enterprise, but also a key step to achieve cost reduction and independence - on the one hand, it is more autonomous in quality, cost, scheduling layout and other aspects of control; on the other hand, it is also more confident, which is conducive to the long-term development of enterprises.。