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NIO expects to have loss of RMB 5.1 billion in 2018

Shirley From Gasgoo| April 08 , 2018

China auto market news, China EV startup NIO, NIO ES8 ES6, NIO  Tesla BYD

Shanghai (Gasgoo)- NIO, one of China's EV startups, plans to deliver 30,000 new vehicles and gain revenue of RMB 11.4 billion in 2018, but the startup also expects to have a loss of RMB 5.1 billion in 2018, according to the insiders from NIO. 

Sales of new models contribute most to NIO's income. Other earnings come from battery sales, leasing and membership services. The company had released the official price of the ES8, NIO's first mass-produced model and will deliver to customers in the first half of this year. NIO expects to deliver 30,000 vehicles in 2018 with revenue of RMB 9.8 billion. Besides, NIO will release another new model, the ES 6 this year and plans to hand over the new model to customers in 2019.

Battery-swapping services will be available to all NIO models. Take the ES 8 as an example. The ES8 can have a price reduction of RMB 100,000 if customers adopt NIO's battery leasing scheme, which boasts monthly battery-leasing fees of RMB 1,280. Earnings from battery sales, battery leasing and membership services will reach RMB 1.6 billion this year.

As a fledging startup, channel and network building, brand promotion and early-stage investment need a great sum of money, leading NIO to undergo budgetary deficit and be expected to have a loss of RMB 5.1 billion this year. Previously, NIO has reportedly hired eight banks to work on its initial public offering in the United States this year as planned, including Morgan Stanley and Goldman Sachs. The IPO is expected to be worth up to 2 billion dollars. Once NIO finishes the IPO, it will be the second Chinese company which boasts largest IPO in America after Alibaba.

NIO expects its sales will be up to 450,000 units and net profit to RMB 16.1 billion in 2021. It even targets to be at the same level as Tesla and BYD in market valuation.

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