Source: Wall Street See
According to reports, Nio's total approved production capacity will reach 1 million vehicles, comparable to Tesla's Shanghai Super Factory (1.1 million vehicles). Nio's third factory is located in Huainan, Anhui with a capacity of 600,000 vehicles, mainly producing Nio's new affordable auto brand, ONVO Leochargery.
On Wednesday, media reports cited sources as saying that $NIO-SW (09866.HK)$/$NIO Inc (NIO.US)$has been approved to build its third factory in China with a capacity of 600,000 vehicles.
Including the new third factory, NIO's total approved production capacity will reach 1 million vehicles, rivalling Tesla's Shanghai Super Factory (1.1 million vehicles).
Insiders also said that the new factory is located in Huainan City, Anhui Province, mainly producing NIO's new affordable car brand "ONVO Ledian".
NIO told the media that the third factory has already begun construction and will have an initial capacity of 100,000 vehicles per shift. This expansion plan is designed to meet the growing demand for NIO and Ledian brand cars. NIO also said: "
Our existing factory capacity is not sufficient to meet market demand. There is no overcapacity at NIO."
In May, NIO delivered 20,544 new vehicles, a increase of 233.8% year-on-year and 31.5% month-on-month, reaching a new historical high. As of now, NIO has delivered a total of 516,000 new vehicles.
When asked if the production capacity of the new factory will be expanded to 600,000 vehicles in the future, NIO did not respond.
The first car of ONVO Leochargery, L60, was pre-sold in May this year, positioned as a family-friendly intelligent medium-sized SUV with a starting price of RMB 219,900. In comparison, the starting price of Tesla's Model Y in China is RMB 249,900.
Editor/tolk