NIO (NIO) released its Q4 earnings Wednesday morning, and although EV deliveries continue growing, the company’s losses are also piling up. The Chinese EV maker delivered a record 40,052 EVs in the fourth quarter, up 60% from Q4 2021 and a 26.7% increase from the previous quarter. Despite the record performance, the company’s first-quarter guidance seemingly spooked investors, with NIO stock selling off in Wednesday’s trading session.
NIO’s vehicle margins were 6.8% in the fourth quarter, significantly lower than the 20.9% achieved in Q4 2021. The company posted a net loss of RMB 5,786.1 ($839.8 million) in the quarter, up 169% from Q4 2021 and 40.8% from the third quarter.
The EV maker recently launched its flagship SUV, EC7, and its all-around flagship SUV, the ES8, at NIO day 2022 in December. The NIO EC7 is a large-size coupe SUV equipped with the company’s second-generation NT 2.0 tech platform with powerful performance (0 to 100 km/h in 3.8 seconds) as the fastest NIO SUV yet. EC7 deliveries are expected to begin in May. Meanwhile, the flagship six-seater ES8 SUV is designed for all scenarios, with two seat layouts for work, family, social, or exploration time.
NIO now has 375 NIO houses and NIO spaces in 141 cities and has installed 1,331 power swap stations across its network. Mass production of power swap station 3.0 is expected to start in April. In January, Nio delivered its first EL7 electric SUV to Europe’s first batch of users. The company has also started offering NT2.0 products and services in Germany, the Netherlands, Denmark, and Sweden.
Overall, NIO’s Q4 earnings show that despite record EV deliveries, the company is still struggling to turn a profit. Investors will be watching closely to see if NIO can continue to grow its EV business while also improving its margins and reducing its losses.
FAQ
Q1. When will electric cars be available in the UK?
A1. Electric cars are already available in the UK and can be purchased from a variety of dealerships.
Q2. Where can I find electric car charging stations near me?
A2. You can find electric car charging stations near you by using online maps or apps such as PlugShare or ChargePoint.
Q3. Which electric car is the best?
A3. The best electric car depends on your individual needs and preferences. Some popular models include the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV.
