Tuesday, May 21, 2024

Distressed Chinese brand loses DKK 120,000 per car

Nio, which has gone dormant in Denmark, increased in 2023 the economic loss per car. This is shown in the annual accounts.

We don't have to go back more than a year, because we find a confident Nio director and founder William Li.

At the Auto Shanghai car show in China, Li had the nerve to both call Tesla cars 'old and bad'. At the same time, the director believed that his own business would make a profit as early as 2023.

However, that turned out to be far from true. Because while Tesla came out of 2023 with a profit of 105 billion kroner, which was less than expected, Nine billion lost kroner on the factory floor.

That's what Automotive News writes.

READ ALSO: The Chinese claim to have solved the electric car's biggest problem

Specifically, the Chinese took a deficit of just under 20 billion with them out of the same financial year.

This corresponds to Nio losing 120,000 Danish kroner per car that was assembled and sold in 2023. From the brand's finance director, it simply says 'that operations must be optimised'.

However, Nio may be planning to save himself by e.g. to introduce the Europeans to a cheap brand. The so-called Firefly. Whether this sub-brand will come to Denmark is, however, still uncertain.

At home, the parent group, on the other hand, has cut back sharply several times. At first, every third of the rank-and-file employees were fired. Since then, the plans for a so-called Nio House were put on ice, and the Danish boss left back in March. Read more about it here .

Nio is therefore also to be overlooked on the car importers' sales list. In fact, in the course of the first four months of 2024, just 2 new Nio models have been sold throughout the country. Even crisis-stricken Fisker has sold far better this year with 48 cars.

Read more exciting news from and about the world of cars right here!

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