China Specialist, Auto and Industrial Specialist

Victoria Li

20 years experience as sell side analyst focusing on China's Industrial and Auto sectors

NIO Inc.  EM Stock Pickers Take Wide Berth

China EV:  New Threats from Tesla Coming, Prefer XPEV

BYD(1211.HK): Calm Down, Time to Take Profit

Equity Bottom-Up

With the start of the delivery of local produced Model Y, sales NIO ES6 and EC6 might decline  in short term, in our view. Model Y's sales prices were announced at Rmb339.9k and above, on 1st Jan 2021, which is lower than NIO's corresponding models, but with better features. Also, Tesla has the best electric control system and battery quality among all the peers based on users' feedback.We also noticed some NIO customers who ordered EC6 were seeking for order cancellation on the same day and switching to Model Y. It would be a tough year for NIO.We suggest to sell NIO

With the start of the delivery of local produced Model Y, sales NIO ES6 and EC6 might decline  in short term, in our view. Model Y's sales prices were announced at Rmb339.9k and above, on 1st Jan 2021, which is lower than NIO's corresponding models, but with better features. Also, Tesla has the best electric control system and battery quality among all the peers based on users' feedback.We also noticed some NIO customers who ordered EC6 were seeking for order cancellation on the same day and switching to Model Y. It would be a tough year for NIO.We suggest to sell NIO

NIO: Will It Survive the Fight with Tesla?