NIO cranking out more than 300 ES6 electric SUVs per day
EV maker NIO released what may be its most important electric car yet, the ES6, in May. Despite its compact size, the NIO ES6 electric SUV is already making a significant impact.
NIO ES6 electric SUV sparks life into NIO
After launching its second generation ES6 on May 24, Chinese consumer behavior research firm CarFans released a report stating NIO gathered almost 30,000 pre-orders in three days.
Each store received around 90 pre-orders, with 20 confirmations (up 30% to 40% month-over-month). With about 330 stores, that’s roughly 29,700 reservations, with 6,600 confirmed.
The new ES6 breathed life into NIO, which helped fuel a new YTD monthly order intake record in May. NIO delivered over 20,000 vehicles in July, with 54% (11,118) being the new ES6, setting a new monthly sales record for a single model.
NIO is taking advantage of the increased demand, with a new report claiming the EV maker is producing at least 300 ES6 electric SUVs per day.
Local media outlet Caixin (via CNevPost) reported NIO had switched some of its facilities from single-shift to double-shift production, citing a person familiar with the matter. Its F1 facility mainly produces new ES6 models, while the ES8 has been shifted to the F2 plant.
The report states NIO halted production for five days in late July or early August to upgrade the production lines.
As a result, NIO’s insurance registrations have slipped over the past two weeks, down 20% in the first week of August and another 23% in week two.
Most important electric model yet?
The ES6 was initially introduced in 2018 as a more affordable option to the ES8 electric SUV, with deliveries beginning in late 2019.
Since launching, the ES6 has been NIO’s primary seller, representing nearly 64% of sales in 2020, 45% in 2021, and around 46% last year.
However, after introducing the next-gen NT 2.0 platform, NIO is focused on upgrading models. Built on the NIO Adam supercomputer (which is powered by Nvidia Orin SoCs), the system can handle a massive amount of applications and networks to power autonomous cars with 1,000 trillion operations per second.
The second-gen ES6 is NIO’s cheapest electric SUV, starting at RMB 368,000 ($51,600) for the 75 kWh battery and RMB 426,000 ($59,300) for the 100 kWh version. NIO also offers a battery-as-a-service (BaaS) option for RMB 298,000 ($41,500).
In June, NIO also launched the ET5T, its first electric station wagon, which will compete with Porsche and BMW in the European market.
Deliveries of the new flagship ES8 began on June 28, following the initial launch at NIO Day 2022 in December alongside the EC7.
The new ES6 represented 54% (11,118 units) of NIO’s EV deliveries in July, while the ET5T contributed almost 18% with 3,662 units. Meanwhile, NIO ES8 deliveries climbed 226% from June to 1,917, reaching its highest total since December 2021.
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Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!
We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.
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OpenAI is distancing itself from Robinhood‘s latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.
“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”
The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”
Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.
“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.
Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.
“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”
The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain
U.S. users cannot access these tokens due to regulatory restrictions.
Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.
BYD introduces new discounts on smart driving tech
After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”
Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.
BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).
It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.
The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).
Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).
Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.
The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.
BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.
The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.
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