Key Takeaways From NIO's Q1 Earnings Call - NIO (NYSE:NIO)

Logo BenzingaBenzinga
2023-06-09 17:59:25  • 3 mins

NIO IncNIO founder, Chairman, and CEO made key revelations during the Q1 earnings call.

The EV maker reported first-quarter FY23 sales growth of 7.7% year-on-year to RMB10.7 billion ($1.56 billion), missing the consensus of $1.63 billion. EPS loss of $(0.36) beat theconsensus loss of $(0.41).

JD Power's 2023 China New Energy Vehicle Initial Quality Study came out on June 1. NIO ES6 bagged the first position in the premium BEV segment for the fourth consecutive year.

NIO prepared to launch the NIO ET5 Touring on June 15 to cover diversified scenarios for individual and family users, significantly improving the brand's competitiveness in the market segment.

In June, NIO will upgrade its smart system Banyan to version 2.0, encompassing over 120 new features and enhancements.

On April 13, the first NIO Power Swap Stations 3.0 batch started operation, making it faster than the previous generation with higher service capacity and more intelligent experiences.

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