Nio released its Q4 and full-year 2020 financial report on Tuesday morning and held an earnings call. Let's see how the executives explained this earnings report >>>
Nio Inc. (NIO.N) $NIO Inc (NIO.US)$The Q4 2020 earnings call was held at 9:00 AM on March 2. Below is the list of participants:
William Li, CEO of Nio
Wei Feng, CFO of Nio
Yu Qu, VP of Finance at Nio
Edison Yu, Analyst at Deutsche Bank
Ming-Hsun Lee, Analyst at Bank of America Securities
Credit Suisse analyst Bin Wang
Morgan Stanley analyst Tim Hsiao
JPMorgan analyst Nick Lai
CICC analyst Lei Wang
UBS Group analyst Paul Gong
Citi analyst Jeff Chung
Goldman Sachs analyst Fei Fang
Summary
1. ET7 order volume exceeded expectations; Nio's total deliveries for Q1 2021 are expected to reach 20,000 to 20,500 units. 2. Nio expects Q1 total revenue to be between 7.38 billion yuan and 7.56 billion yuan, representing a year-over-year increase of approximately 438% to 451%. 3. R&D investment this year will double to around 5 billion yuan. 4. Nio plans to open 20 new NIO Houses and 120 new NIO Spaces this year to expand sales coverage and leverage its direct-to-consumer competitive advantage. 5. The total number of battery swap stations will increase to at least 500, and the total number of supercharging stations will also increase...