Hyperdrive
EV-Maker Nio Surges; ‘Very Confident’ of Hitting Sales Goal
- Chinese carmaker expects to double sales to 250,000 this year
- Price war shows China has ‘too many automakers,’ CFO Feng says
This article is for subscribers only.
Nio Inc. is “very confident” of meeting its target of doubling sales to 250,000 electric vehicles this year, Chief Financial Officer Steven Feng said, prompting the Chinese automaker’s shares to surge in Hong Kong.
“We are very confident to achieve our sales target in 2023,” Feng said in an interview with Bloomberg Television on Wednesday. That will be achieved with new models, expanding the company’s charging and battery-swapping network, and unlocking autonomous driving technologies, he said.