Goldman Sachs Downgrades NIO Inc(NIO.US) to Sell Rating, Cuts Target Price to $3.9
Express News | UBS Group: Anticipates that setting a minimum price will be positive news for chinese auto companies.
Express News | Goldman Sachs: Downgraded NIO Inc. ADR rating to sell, target price $3.90.
NIO (09866.HK) CEO Li Bin sent an internal letter: The next two years are crucial, aiming to achieve profitability by 2026.
On the occasion of NIO's (09866.HK) tenth anniversary, founder Li Bin sent an internal letter, proposing a new requirement of "staying true to the original intention and focusing on action," as the company is currently in the most intense and brutal phase of the smart electric vehicle industry qualification race. He believes that only a few outstanding companies will survive in two to three years. He stated that the next two years are crucial, requiring the continuous launch of competitive new products and improvement of operational efficiency, aiming to double sales next year and achieve company profitability by 2026. Li Bin added that NIO has experienced several dark moments over the past decade, but what lies ahead are competitions on a higher dimension, and cannot.
Express News | China Association of Automobile Manufacturers: In October, Chinese brand passenger vehicles sold a total of 1.931 million units, a month-on-month increase of 12.9%.
Li Bin wants to win the final battle.
There cannot be any weaknesses, nor can there be a quick victory.