TIZAF - NIO: May Deliveries Doubled Capacity And More Catalysts For Growth
- May saw a bit of the continuation of the chip shortage effects, with deliveries falling just over 5% m/m (but +95% y/y) to 6,711 units.
- NIO has renewed its contract with JAC until May 2024, doubling capacity to 240,000 units annually (20,000/mo), a large increase from the current 7,500/mo.
- CATL is expanding capacity of the 100 kWh battery pack in June, which was a driver of BaaS revenues from Q1.
- Preferential EV policies - subsidies still applicable regardless of price due to BaaS, and favorable municipal policies - can serve as catalysts for domestic growth.
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NIO: May Deliveries, Doubled Capacity, And More Catalysts For Growth