China’s Nio cuts prices, ends free battery swapping as sales slide
This article is a sign that NIO's battery swapping is costly and not as sustainable as charging system. In my previous post, I reported that Nio is still facing net loss and monthly sales is declining.
Quote:
NIO said on Monday (Jun 12) it would lower prices for all models and end free battery swapping services to new buyers, as the Chinese electric vehicle (EV) maker faces mounting pressure in profitability amid lukewarm sales.
The company also would no longer provide free battery swapping services to buyers who place deposits on Monday and onwards, it added. Nio has been offering the services for free for at least four times each month to existing owners. It is among only a handful of EV makers betting on battery swapping as a major power option for electric cars while rival Tesla has dismissed battery swapping as “riddled with problems and not suitable for widescale use”.
Source:
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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geda : Whether it's one year, three years, or six years, NIO must sell 20,000 units a month before it can break out of the quagmire.
ZnWC OP geda : Based on current monthly sales volume, NIO set a 20,000 per month sales target is over exaggerated.
geda ZnWC OP : It needs to continue, otherwise it won't work,
ZnWC OP geda : Yes Nio can continue to bleed but someone keeps posting article that the company will beat Tesla by end of this year, very unlikely.
geda ZnWC OP : Right, how is it possible to beat Tesla? Every new NIO product steals its own business. It would be better if the price of the old ET5 was cut by 20,000 to 30,000; then the entire ET5 series could easily break 10,000. Let's take another look at Tesla.
ZnWC OP geda : Agree to disagree