Very bullish. Diamond hand, no

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Very bullish. Diamond hand, not selling any shares

Nio touches on wide range of topics in year-end media meet, here's everything you need to know

The first model from the Nio battery swap alliance is doing winter testing, and the Firefly sub-brand will start selling in Europe next year.

Nio touches on wide range of topics in year-end media meet, here's everything you need to know

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":380928882254200,"tweetId":"380928882254200","gmtCreate":1734044354668,"gmtModify":1734044358604,"author":{"id":3576228432089506,"idStr":"3576228432089506","authorId":3576228432089506,"authorIdStr":"3576228432089506","name":"tosidon","avatar":"https://community-static.tradeup.com/news/6be9be1d5d73d8ac9ca4ff0254f5415e","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":10,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Very bullish. Diamond hand, not selling any shares&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Very bullish. Diamond hand, not selling any shares&nbsp;</p></body></html>","text":"Very bullish. Diamond hand, not selling any shares","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/380928882254200","repostId":2490387589,"repostType":2,"repost":{"id":"2490387589","kind":"highlight","pubTimestamp":1734013433,"share":"https://www.laohu8.com/m/news/2490387589?lang=&edition=full","pubTime":"2024-12-12 22:23","market":"us","language":"en","title":"Nio touches on wide range of topics in year-end media meet, here's everything you need to know","url":"https://stock-news.laohu8.com/highlight/detail?id=2490387589","media":"CnEVPost","summary":"The first model from the Nio battery swap alliance is doing winter testing, and the Firefly sub-brand will start selling in Europe next year.","content":"<div class=\"post-content\">\n<blockquote><p>The first model from the <a class=\"st_tag internal_tag\" href=\"https://cnevpost.com/nio/\" rel=\"tag\" title=\"\">Nio</a> battery swap alliance is doing winter testing, and the Firefly sub-brand will start selling in Europe next year.</p></blockquote>\n<figure aria-describedby=\"caption-attachment-103945\" class=\"wp-caption alignnone\" id=\"attachment_103945\" style=\"width: 1200px\"><img alt=\"\" class=\"wp-image-103945 size-full\" decoding=\"async\" fetchpriority=\"high\" height=\"654\" src=\"https://img.cnevpost.com/2024/12/12221620/2024121214161919.jpg\" width=\"1200\"/><figcaption class=\"wp-caption-text\" id=\"caption-attachment-103945\">(Nio founder, chairman, and CEO William Li responds to questions during the December 12, 2024 year-end media meet. Image credit: CnEVPost)</figcaption></figure>\n<p>Nio (NYSE: NIO) held a year-end 2024 media event today in Shanghai, the city where it's headquartered, and the company's founder, chairman, and CEO William Li answered more than 200 questions during the three-hour-long communication.</p>\n<p>As a background, the electric vehicle (EV) maker has in past years held a large-scale media event at the end of the year, just days before Nio Day, to respond commonly asked questions.</p>\n<p>This year's event was held at a hotel in Shanghai, and CnEVPost was there on-site. The upcoming Nio Day 2024 will be held on December 21 in Guangzhou, where the company will officially launch the ET9 and launch the Firefly brand.</p><div class=\"code-block code-block-3\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div class=\"subscription-container\">\n<div class=\"subscription-content\">\n<span class=\"bold-text\">Join us on </span>\n<a class=\"subscribe-button\" href=\"https://t.me/CnEVPost\" rel=\"noopener noreferrer\" target=\"_blank\">Telegram</a>\n<span class=\"bold-text\"> or </span>\n<a class=\"subscribe-button\" href=\"https://cnev.co/gnews\" rel=\"noopener noreferrer\" target=\"_blank\">Google News</a>\n</div>\n</div>\n<style></style></div>\n<p>In today's communication, Li answered a total of more than 200 questions the company collected in advance from participating reporters, covering a wide range of topics. Here are the key takeaways of the event by CnEVPost.</p>\n<h1>Sales target</h1>\n<p>Li reiterated Nio's sales target for 2025 is to double from 2024, or around 440,000 units.</p>\n<p>The company's management first mentioned the 2025 sales doubling target in its <a href=\"https://cnevpost.com/2024/11/20/nio-q3-2024-earnings-call/\">third-quarter 2024 earnings call</a> on November 20, but didn't provide more details at the time.</p>\n<p>Nio at the time <a href=\"https://cnevpost.com/2024/11/20/nio-earnings-q3-2024/\">guided for fourth-quarter vehicle deliveries</a> to be in the range of 72,000 to 75,000 units, meaning it was expecting 2024 deliveries to be in the range of 221,000 to 224,000 units.</p>\n<p>In the media meet today, Li said the company expects sales of Nio's main brand to grow moderately in 2025 compared to 2024, without mentioning further details.</p>\n<p>In the January-November period this year, the Nio brand delivered 180,599 vehicles, up 27.16 percent year-on-year, according to data compiled by CnEVPost.</p>\n<p>The Onvo sub-brand is expected to achieve an average of 20,000 units per month in 2025, above 200,000 units for the year, Li said.</p>\n<p>For the upcoming Firefly brand, Nio expects sales in the thousands of units per month.</p>\n<p>Responding to a question from CnEVPost, Li said the company is confident of meeting its fourth-quarter deliveries guidance with more than 30,000 units delivered in December.</p>\n<p>Nio needs to deliver at least 30,449 vehicles in December to meet its fourth-quarter delivery guidance, according to CnEVPost's calculations.</p>\n<p>For December 1-11, Nio Inc received the highest number of locked-in orders for the same period in the past six months, Li said.</p>\n<h1>F3 plant</h1>\n<p>In response to a question from CnEVPost, Li said the F3 plant should be operational in the third or fourth quarter of 2025, and is located near the NeoPark F2 plant in Hefei, Anhui province.</p>\n<p>Li didn't mention any further details today. Nio currently has two factories in Hefei -- F1 and F2.</p>\n<p>Nio co-founder and president Qin Lihong <a href=\"https://cnevpost.com/2024/06/05/nio-president-confirms-construction-of-f3-plant-begun/\">said on June 5</a> that the company had begun construction on a third factory.</p>\n<p>The new plant would have a single-shift capacity of 100,000 units per year and would be used for both Nio-branded and Onvo-branded products, Qin said at the time.</p>\n<h1>Onvo and Firefly</h1>\n<p>Li today reiterated that the Onvo sub-brand will deliver over 10,000 L60 vehicles in December and see monthly deliveries reach 20,000 in March next year.</p>\n<p>The Onvo L60 was <a href=\"https://cnevpost.com/2024/09/20/nio-onvo-launches-l60/\">launched on September 19</a> and began deliveries on September 28 and is still in the capacity ramp-up phase. Customers who order the model now will have to wait 8-10 weeks for delivery.</p>\n<p>Li said that due to the long waiting time for the L60, some customers have opted for Nio models in Onvo stores.</p>\n<p>Last month, Onvo sales team helped sell 200-300 cars for the Nio brand, according to Li.</p>\n<p>Li said that the Onvo brand has not cannibalized Nio, saying that only 2 percent of the sub-brand's customers were originally considering buying a Nio model.</p>\n<p>The Onvo brand will launch two additional models in 2025, with deliveries starting in the third or fourth quarter, Li said.</p>\n<p>On the November 20 earnings call, Nio management said Onvo would launch two SUVs next year, including a six/seven-seater and a large five-seater.</p>\n<p>Onvo's product lineup won't be as large as the Nio brand, with a maximum of four or five models, according to Li. There are currently eight models being delivered under the main Nio brand.</p>\n<p>Li reiterated that the number of battery swap stations available for Onvo will reach 1,000 by the end of this year and 2,000 by next April.</p>\n<p>The company is positioning the Firefly brand as a premium boutique small car, similar to the BMW Mini and Mercedes-Benz Smart.</p>\n<p>Li said there is consumer demand for such small cars, but they don't have good choices in terms of supply.</p>\n<p>In the Chinese market, the Firefly brand will have only one model and will continue to iterate on it.</p>\n<p>The Firefly model will be priced similarly to the Mini cars in China.</p>\n<p>In overseas markets, the Firefly brand may follow a different strategy than in China, and Nio has not yet decided whether to launch multiple models for Firefly overseas, Li said.</p>\n<p>Firefly is important to Nio Inc's strategy of entering global markets, where there is a big demand for small cars, according to Li.</p>\n<p>The company will begin selling Firefly models in Europe in 2025, in a move largely synchronized with its moves in the domestic market.</p>\n<p>The first Firefly model was initially built for the European market, but has since shifted to be launched in China as well, considering that there is demand for such models in the country as well.</p>\n<p>The Firefly's battery swap network is cheaper to build and easier to deploy because the packs are smaller and designed to be deployed quickly around the world.</p>\n<p>Firefly will share the Nio brand's sales channels and will also have its own user touchpoints, Li said.</p>\n<p>The company will maintain reasonable gross margins on the Firefly brand and work to improve it over time.</p>\n<p>Nio still wants to enter 25 countries and regions cumulatively by 2025 and will focus on sales of Onvo and Firefly models in overseas markets as they are less expensive than the Nio brand.</p>\n<h1>Battery swap alliance</h1>\n<p>Nio has announced a number of <a href=\"https://cnevpost.com/2024/05/22/william-li-confirms-nio-faw-battery-swap-partnership/\">partners</a> joining its battery swap alliance over the past year, saying it will work with them to build battery swap-enabled models, but didn't provide any further details.</p>\n<p>Li said today that those efforts are moving forward and that the cycle time to build a new battery swap-enabled model is about 18 months.</p>\n<p>The first model from the Nio battery swap alliance is undergoing winter testing, Li said.</p>\n<p>By 2027 and 2028, there will be more new models built using Nio's battery swap technology, he said.</p>\n<h1>No plans to launch hybrids in China</h1>\n<p>One of the most asked questions at today's event was whether Nio has any plans to launch hybrid models.</p>\n<p>Li re-emphasized that the company will not launch hybrid models in China, but did not rule out the possibility of launching such models in overseas markets.</p>\n<p>Last month, it was <a href=\"https://cnevpost.com/2024/11/04/nio-plans-to-launch-1st-hybrid-car-2026-sell-overseas-report/\">reported</a> that the Firefly sub-brand would launch hybrid models in overseas markets. Nio said in a clarification at the time that it would not launch hybrid models in China, but made no mention of overseas markets.</p>\n<p>Li said today that Firefly will only offer battery electric vehicle (BEV) models in China, while plans for overseas are still being studied as charging infrastructure in most other markets is 5-10 years behind China.</p>\n<h1>Explanation for Nio brand sales decrease</h1>\n<p>With Onvo L60 deliveries increasing, deliveries of Nio's main brand models have seen sequential declines in the past 2 months.</p>\n<p>Li today denied that this was due to the Onvo brand cannibalizing Nio's orders and also said that Onvo was not taking capacity away from Nio branded models.</p>\n<p>In October and November, deliveries of the Nio brand were down due to reducing promotions by at least RMB 10,000 ($1,380), Li said.</p>\n<p>In the third quarter, Nio sacrificed some gross margins for higher volumes, he said.</p>\n<p>For the Nio brand, growth quality and gross margins will have a higher priority in 2025, Li said.</p>\n<h1>NEV penetration</h1>\n<p>Li said today that he now expects China's new energy vehicle (NEV) penetration to reach 90 percent by 2027 at the latest, three years earlier than his previous expectation of 2030.</p>\n<p>A possible milestone for China's NEV market in 2025 would be for NEV penetration to reach 75 percent, he said.</p>\n<p>In November, China's NEV penetration at retail stood at 52.3 percent, the fourth consecutive month above the 50 percent mark, according to the China Passenger Car Association (CPCA).</p>\n<p>In China, NEVs include BEVs, plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. Currently Nio only produces BEVs.</p>\n<p>($1 = RMB 7.2702)</p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"c3szKAJgFw\"><p><a href=\"https://cnevpost.com/2024/12/11/nio-nov-2024-deliveries-breakdown/\">Nio Nov deliveries breakdown: ES6 at 5,942, ET5T at 4,142</a></p></blockquote>\n<div class=\"code-block code-block-6\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n\n<div class=\"newsletter-container\">\n<span class=\"follow-text\">Follow us by email: </span>\n<a class=\"newsletter-button\" data-formkit-toggle=\"7669b13c65\" href=\"https://letter.cnevpost.com/follow\">\n<svg class=\"plus-icon\" fill=\"none\" height=\"14\" stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" viewbox=\"0 0 24 24\" width=\"14\">\n<line x1=\"12\" x2=\"12\" y1=\"5\" y2=\"19\"></line>\n<line x1=\"5\" x2=\"19\" y1=\"12\" y2=\"12\"></line>\n</svg>\n    Get Newsletter\n  </a>\n</div>\n\n<style></style>\n\n<script async=\"\" data-uid=\"986244a1e7\" src=\"https://cnevpost.ck.page/986244a1e7/index.js\"></script></div>\n<p><iframe class=\"wp-embedded-content\" data-lazy-src=\"https://cnevpost.com/2024/12/11/nio-nov-2024-deliveries-breakdown/embed/#?secret=MbGqaWGIbH#?secret=c3szKAJgFw\" data-rocket-lazyload=\"fitvidscompatible\" data-secret=\"c3szKAJgFw\" frameborder=\"0\" height=\"282\" loading=\"lazy\" marginheight=\"0\" marginwidth=\"0\" sandbox=\"allow-scripts\" scrolling=\"no\" security=\"restricted\" src=\"about:blank\" style=\"position: absolute; visibility: hidden;\" title=\"“Nio Nov deliveries breakdown: ES6 at 5,942, ET5T at 4,142” — CnEVPost\" width=\"500\"></iframe><noscript><iframe class=\"wp-embedded-content\" data-secret=\"c3szKAJgFw\" frameborder=\"0\" height=\"282\" marginheight=\"0\" marginwidth=\"0\" sandbox=\"allow-scripts\" scrolling=\"no\" security=\"restricted\" src=\"https://cnevpost.com/2024/12/11/nio-nov-2024-deliveries-breakdown/embed/#?secret=MbGqaWGIbH#?secret=c3szKAJgFw\" style=\"position: absolute; visibility: hidden;\" title=\"“Nio Nov deliveries breakdown: ES6 at 5,942, ET5T at 4,142” — CnEVPost\" width=\"500\"></iframe></noscript></p>\n<div class=\"related-posts\">\n<h3>Related posts on CnEVPost</h3>\n<div class=\"related-posts-grid\">\n<div class=\"related-post-item\">\n<div class=\"related-post-thumbnail\">\n<a href=\"https://cnevpost.com/2024/12/11/nio-nov-2024-deliveries-breakdown/\" target=\"_blank\">\n<img alt=\"Nio touches on wide range of topics in year-end media meet, here's everything you need to know-CnEVPost\" class=\"attachment-related-thumb size-related-thumb wp-post-image\" data-lazy-src=\"https://img.cnevpost.com/2024/12/11111653/2024121103165375-300x225.jpg\" decoding=\"async\" height=\"225\" src=\"data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20300%20225'%3E%3C/svg%3E\" width=\"300\"/><noscript><img alt=\"Nio touches on wide range of topics in year-end media meet, here's everything you need to 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8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNio touches on wide range of topics in year-end media meet, here's everything you need to know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-12 22:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://cnevpost.com/2024/12/12/nio-year-end-2024-media-meet/><strong>CnEVPost</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The first model from the Nio battery swap alliance is doing winter testing, and the Firefly sub-brand will start selling in Europe next year.\n(Nio founder, chairman, and CEO William Li responds to ...</p>\n\n<a href=\"https://cnevpost.com/2024/12/12/nio-year-end-2024-media-meet/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO.SI":"蔚来","BK4574":"无人驾驶","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4504":"桥水持仓","BK4099":"汽车制造商","BK4588":"碎股","BK4548":"巴美列捷福持仓","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0052750758.USD":"富兰克林中国基金A Acc","BK4532":"文艺复兴科技持仓","NIO":"蔚来","BK4531":"中概回港概念","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK4555":"新能源车","09866":"蔚来-SW","GRO":"Brazil Potash Corp.","BK4509":"腾讯概念","NEV":"Nuveen Enhanced Municipal Value","BK4526":"热门中概股"},"source_url":"https://cnevpost.com/2024/12/12/nio-year-end-2024-media-meet/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2490387589","content_text":"The first model from the Nio battery swap alliance is doing winter testing, and the Firefly sub-brand will start selling in Europe next year.\n(Nio founder, chairman, and CEO William Li responds to questions during the December 12, 2024 year-end media meet. Image credit: CnEVPost)\nNio (NYSE: NIO) held a year-end 2024 media event today in Shanghai, the city where it's headquartered, and the company's founder, chairman, and CEO William Li answered more than 200 questions during the three-hour-long communication.\nAs a background, the electric vehicle (EV) maker has in past years held a large-scale media event at the end of the year, just days before Nio Day, to respond commonly asked questions.\nThis year's event was held at a hotel in Shanghai, and CnEVPost was there on-site. The upcoming Nio Day 2024 will be held on December 21 in Guangzhou, where the company will officially launch the ET9 and launch the Firefly brand.\n\n\nJoin us on \nTelegram\n or \nGoogle News\n\n\n\nIn today's communication, Li answered a total of more than 200 questions the company collected in advance from participating reporters, covering a wide range of topics. Here are the key takeaways of the event by CnEVPost.\nSales target\nLi reiterated Nio's sales target for 2025 is to double from 2024, or around 440,000 units.\nThe company's management first mentioned the 2025 sales doubling target in its third-quarter 2024 earnings call on November 20, but didn't provide more details at the time.\nNio at the time guided for fourth-quarter vehicle deliveries to be in the range of 72,000 to 75,000 units, meaning it was expecting 2024 deliveries to be in the range of 221,000 to 224,000 units.\nIn the media meet today, Li said the company expects sales of Nio's main brand to grow moderately in 2025 compared to 2024, without mentioning further details.\nIn the January-November period this year, the Nio brand delivered 180,599 vehicles, up 27.16 percent year-on-year, according to data compiled by CnEVPost.\nThe Onvo sub-brand is expected to achieve an average of 20,000 units per month in 2025, above 200,000 units for the year, Li said.\nFor the upcoming Firefly brand, Nio expects sales in the thousands of units per month.\nResponding to a question from CnEVPost, Li said the company is confident of meeting its fourth-quarter deliveries guidance with more than 30,000 units delivered in December.\nNio needs to deliver at least 30,449 vehicles in December to meet its fourth-quarter delivery guidance, according to CnEVPost's calculations.\nFor December 1-11, Nio Inc received the highest number of locked-in orders for the same period in the past six months, Li said.\nF3 plant\nIn response to a question from CnEVPost, Li said the F3 plant should be operational in the third or fourth quarter of 2025, and is located near the NeoPark F2 plant in Hefei, Anhui province.\nLi didn't mention any further details today. Nio currently has two factories in Hefei -- F1 and F2.\nNio co-founder and president Qin Lihong said on June 5 that the company had begun construction on a third factory.\nThe new plant would have a single-shift capacity of 100,000 units per year and would be used for both Nio-branded and Onvo-branded products, Qin said at the time.\nOnvo and Firefly\nLi today reiterated that the Onvo sub-brand will deliver over 10,000 L60 vehicles in December and see monthly deliveries reach 20,000 in March next year.\nThe Onvo L60 was launched on September 19 and began deliveries on September 28 and is still in the capacity ramp-up phase. Customers who order the model now will have to wait 8-10 weeks for delivery.\nLi said that due to the long waiting time for the L60, some customers have opted for Nio models in Onvo stores.\nLast month, Onvo sales team helped sell 200-300 cars for the Nio brand, according to Li.\nLi said that the Onvo brand has not cannibalized Nio, saying that only 2 percent of the sub-brand's customers were originally considering buying a Nio model.\nThe Onvo brand will launch two additional models in 2025, with deliveries starting in the third or fourth quarter, Li said.\nOn the November 20 earnings call, Nio management said Onvo would launch two SUVs next year, including a six/seven-seater and a large five-seater.\nOnvo's product lineup won't be as large as the Nio brand, with a maximum of four or five models, according to Li. There are currently eight models being delivered under the main Nio brand.\nLi reiterated that the number of battery swap stations available for Onvo will reach 1,000 by the end of this year and 2,000 by next April.\nThe company is positioning the Firefly brand as a premium boutique small car, similar to the BMW Mini and Mercedes-Benz Smart.\nLi said there is consumer demand for such small cars, but they don't have good choices in terms of supply.\nIn the Chinese market, the Firefly brand will have only one model and will continue to iterate on it.\nThe Firefly model will be priced similarly to the Mini cars in China.\nIn overseas markets, the Firefly brand may follow a different strategy than in China, and Nio has not yet decided whether to launch multiple models for Firefly overseas, Li said.\nFirefly is important to Nio Inc's strategy of entering global markets, where there is a big demand for small cars, according to Li.\nThe company will begin selling Firefly models in Europe in 2025, in a move largely synchronized with its moves in the domestic market.\nThe first Firefly model was initially built for the European market, but has since shifted to be launched in China as well, considering that there is demand for such models in the country as well.\nThe Firefly's battery swap network is cheaper to build and easier to deploy because the packs are smaller and designed to be deployed quickly around the world.\nFirefly will share the Nio brand's sales channels and will also have its own user touchpoints, Li said.\nThe company will maintain reasonable gross margins on the Firefly brand and work to improve it over time.\nNio still wants to enter 25 countries and regions cumulatively by 2025 and will focus on sales of Onvo and Firefly models in overseas markets as they are less expensive than the Nio brand.\nBattery swap alliance\nNio has announced a number of partners joining its battery swap alliance over the past year, saying it will work with them to build battery swap-enabled models, but didn't provide any further details.\nLi said today that those efforts are moving forward and that the cycle time to build a new battery swap-enabled model is about 18 months.\nThe first model from the Nio battery swap alliance is undergoing winter testing, Li said.\nBy 2027 and 2028, there will be more new models built using Nio's battery swap technology, he said.\nNo plans to launch hybrids in China\nOne of the most asked questions at today's event was whether Nio has any plans to launch hybrid models.\nLi re-emphasized that the company will not launch hybrid models in China, but did not rule out the possibility of launching such models in overseas markets.\nLast month, it was reported that the Firefly sub-brand would launch hybrid models in overseas markets. Nio said in a clarification at the time that it would not launch hybrid models in China, but made no mention of overseas markets.\nLi said today that Firefly will only offer battery electric vehicle (BEV) models in China, while plans for overseas are still being studied as charging infrastructure in most other markets is 5-10 years behind China.\nExplanation for Nio brand sales decrease\nWith Onvo L60 deliveries increasing, deliveries of Nio's main brand models have seen sequential declines in the past 2 months.\nLi today denied that this was due to the Onvo brand cannibalizing Nio's orders and also said that Onvo was not taking capacity away from Nio branded models.\nIn October and November, deliveries of the Nio brand were down due to reducing promotions by at least RMB 10,000 ($1,380), Li said.\nIn the third quarter, Nio sacrificed some gross margins for higher volumes, he said.\nFor the Nio brand, growth quality and gross margins will have a higher priority in 2025, Li said.\nNEV penetration\nLi said today that he now expects China's new energy vehicle (NEV) penetration to reach 90 percent by 2027 at the latest, three years earlier than his previous expectation of 2030.\nA possible milestone for China's NEV market in 2025 would be for NEV penetration to reach 75 percent, he said.\nIn November, China's NEV penetration at retail stood at 52.3 percent, the fourth consecutive month above the 50 percent mark, according to the China Passenger Car Association (CPCA).\nIn China, NEVs include BEVs, plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. Currently Nio only produces BEVs.\n($1 = RMB 7.2702)\nNio Nov deliveries breakdown: ES6 at 5,942, ET5T at 4,142\n\n\n\nFollow us by email: \n\n\n\n\n\n    Get Newsletter\n  \n\n\n\n\n\n\n\nRelated posts on CnEVPost\n\n\n\n\n \n\n\nNio Nov deliveries breakdown: ES6 at 5,942, ET5T at 4,142\n\n\n\n\n\n \n\n\nChina EV insurance registrations for week ending Dec 8: Nio 3,700, Tesla 21,900, Xiaomi 5,400, BYD 85,000\n\n\n\n\n\n \n\n\nNio explains in detail how steer-by-wire tech benefits ET9\n\n\n\n\n\n \n\n\nNio says ET9's steer-by-wire tech gets go-ahead for mass production, 1st in China\n\n\n\n\nShare this post:XFacebookTelegramReddit\">RedditLinkedInPocketEmailWhatsAppPrintThreads","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":43,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}