交银国际指出，蔚来是中国少有的具有换电服务的车企，新推出Baas方案降低用户购车门槛，有望带动销量。蔚来品牌在30万元人民币以上高端纯电市场领域市占率超过30%。高端纯电市场之外，公司发布其第二品牌乐道L60，主攻30万元人民币以下车型。第三个品牌萤火虫12月发布，价格定位更低。该行指出，股价催化剂包括：萤火虫预计2025上半年开启交付；乐道带动销量增长。NIO-SW (09866) has risen over 5% again, as of the time of this report, it is up 5.41% to 37.05 Hong Kong dollars, with a transaction value of 65.0069 million Hong Kong dollars.
According to Zhitong Finance APP, NIO-SW (09866) has risen more than 5% again, as of the time of writing, it has increased by 5.41%, priced at 37.05 HKD, with a transaction amount of 65.0069 million HKD.
On the news front, on January 2, NIO Autos announced a limited-time trade-in subsidy backup policy for users purchasing cars with invoices, in partnership with the brand Le Dao, starting from 2025 until February 28. During this period, if users cannot apply for government replacement subsidies because the new vehicle invoice time is earlier than the 'trade-in' policy requirement, NIO and Le Dao will fully back up the subsidy difference through points and equivalent charging subsidies. NIO and Le Dao have also launched a 'zero down payment, three years, zero interest limited-time financial offer' policy.
BOCOM INTL pointed out that NIO is one of the few automakers in China with battery swapping services, and the new BaaS plan lowers the threshold for users to purchase cars, which is expected to drive sales. The NIO brand has a market share of over 30% in the high-end all-electric market segment priced over 300,000 RMB. Outside of the high-end all-electric market, the company launched its second brand, Le Dao L60, targeting models priced below 300,000 RMB. The third brand, Firefly, was launched in December, with an even lower price positioning. The company indicated that the price catalysts include: Firefly is expected to start deliveries in the first half of 2025; Le Dao to drive sales growth.
