China is aggressively expanding its electric vehicle (EV) market globally, with plans to sell affordable EVs worldwide. Nio, a prominent Chinese EV maker, reported a 37% increase in new orders in May, despite experiencing a larger-than-expected loss in Q1 2024. Nio's Q1 revenue was 9.91 billion yuan, missing the estimated 10.75 billion yuan, and the company posted an adjusted loss per share of 33 cents with a gross margin of 4.9%. However, Nio expects its second-quarter EV sales to more than double, forecasting deliveries between 54,000 and 56,000 units. Meanwhile, other Chinese EV companies like BYD are also making international moves, such as revitalizing an abandoned Ford plant in Brazil. The global EV market remains competitive, with companies like Volvo and Volkswagen unveiling new electric models. China's dominance in the EV sector is evident, but it faces potential challenges, including possible EU tariffs and concerns over market flooding in the US.
Foreign countries are “afraid” of Chinese EVs, BYD's chairman said in a swipe to Europe and the US https://t.co/7f6K574w98 via @bpolitics
🌎 🇨🇳 🇪🇺 A Trader’s Guide to #China #EV Stocks as EU Tariff Deadline Looms – Bloomberg https://t.co/sd46MuVHEm https://t.co/uPjRNRlxEZ
US Tariff Hikes on Chinese EVs Will Slow Low-Carbon Shift, Citadel Founder Says @Citadel https://t.co/yNrnqPHrtx
China’s Nio forecasts record EV sales in second quarter as incentives lure buyers https://t.co/qg2DTiph5V
“As things stand, China still exports less than 15% of all EVs manufactured in the country, but the growing ratio of cars it ships overseas is triggering Western fears of a coming deluge.” https://t.co/qZTxI1waM5
Here's what traders should watch as the EU weighs tariffs of 20% or higher on Chinese EVs https://t.co/RtEfxuEyY0
Jeep takes aim at Tesla with its first electric SUV, new Wrangler-like EV coming soon https://t.co/76bZ0CDKFo by @EVPeteJohnson
The road ahead for Chinese electric vehicles 🛣️ @OABlanchard & @rayliant's Phillip Wool review $NIO earnings and the Chinese EV stocks as a whole with @NPetallides, detailing which are best positioned for growth as headwinds persist: https://t.co/UiA8BKxM6u
Kia EV4 spotted for the first time revealing the stylish new low-cost EV [Video] https://t.co/zIWlQSn8BC by @EVPeteJohnson
CATL still dominates the EV battery market share in 2024, but BYD is gaining ground https://t.co/goT01Q35pu by @EVPeteJohnson
Updated for NIO which was the last automaker to report Q1 numbers, excluding Polestar which struggles currently with accounting errors. You can see that in Q1 2024 the most loss-making automakers include: Lucid, VinFast, Rivian, and Nio. Automakers of which Q1 2024 is missing… https://t.co/GXTXjto5kC
Opinion: U.S. must embrace an electric future or Chinese carmakers will take American jobs https://t.co/gGJWatrwgq
🔥Chinese BEV maker NIO reported pre-market open today one of the worst quarters in NIO's history! NIO celebrates in November its 10th anniversary but remains deeply loss-making! I predicted a terrible print. Stock is down 5% at the moment. This is a deep dive on NIO's… https://t.co/EAWIlePNPj
China's Nio expects second-quarter EV sales to more than double https://t.co/4L4WAgR0k1 https://t.co/giX0eeXLLT
Nio reports a bigger-than-expected loss, highlighting how increased competition is making it more difficult for the EV maker to become profitable https://t.co/EwwE64zJMm
NIO Misses Earnings Estimates and the Stock Falls. Why It’s Not All Bad. https://t.co/PP2Z6jDEcI
NIO’s First-Quarter Loss Widened on Lower EV Sales https://t.co/UU0WWGWIul
#FMsays China, which exported just 13,000 electric vehicles to the US last year, didn't "flood" the US market with EVs, FM spokeswoman Mao Ning said, responding to US President Joe Biden's remarks in his recent interview with TIME. Chinese EV companies "competed their way to… https://t.co/ImQh3OM4qg
Nio guided for second quarter deliveries to be between 54,000 and 56,000 units, meaning June deliveries are expected to be between 17,836 and 19,836 units. $NIO https://t.co/zDIFwhw2GR
Nio's revenue slips in Q1 as deliveries decline https://t.co/sgfFdqh2Hr $NIO
NIO 1Q revenue 9.91 billion yuan, Est. 10.75 bulb yuan 1Q adjusted loss per share 33 cents 1Q gross margin 4.9%, Est.4.75% Expects 2Q deliveries 54,000-56,000, Est. 41,310. #NIO $NIO
Volkswagen unveils the new ID.7 GTX as its most powerful EV yet https://t.co/fQ9HdWkzgd by @EVPeteJohnson
BYD breathes life into an abandoned Ford plant in Brazil as part of China’s EV internationalization. @mazzocco_ilaria is quoted on the need for the West to recognize how this creates opportunities for developing countries to expand their manufacturing base & FDI in emerging tech. https://t.co/fmkWoDGPF4
China’s plan to dominate EV sales around the world https://t.co/y8WYmNVVjI
Volvo's first all-electric EX90 rolls off the production line in South Carolina https://t.co/g1gpprFF6r by @EVPeteJohnson
Nio's new orders in May up 37% from Apr, Deutsche Bank survey shows https://t.co/40Em40khn2 $NIO
China’s plan to sell cheap EVs to the rest of the world - https://t.co/HzgjiYnnJf via @FT https://t.co/hENdcHWlZZ