<div id="readability-page-1"><div><div><p><strong>Nio Inc.</strong> <span>NIO</span> CEO <strong>William Li </strong>says that the automaker's in-house smart driving chip rivals industry flagship chips at the company's second-quarter earnings call.</p><h2>Nio's In-House Smart Driving Chip On Par With Flagships, Saves Costs</h2><p>&#34;Our in-house developed smart driving chip NX9031 can achieve the performance that is on par with four flagship chips in the industry,&#34; Li said during the Q2 earnings call on Tuesday.</p><p>Li was also asked about the cost savings due to switching to in-house chips and if the amount saved per unit was tied to volumes. &#34;Cost of savings per unit is not really closely tied in the actual volume we sell or actual number of the pieces we sell,&#34; Li said. </p><p>He added that the company's decision has proven to be advantageous in terms of cost when compared to previous instances where it outsourced chips. </p><p>&#34;Even on the third generation in comparison to the industry flagship smart driving chips, we still have a cost advantage and the competitiveness with our in-house solution,&#34; he said, while refusing to elaborate on savings achieved per unit.</p><h2>Nio Reports Strong Deliveries, Revenue Misses Despite Growth</h2><p>The report comes as Nio reported over 31,305 units delivered in August, marking a 55.2% YoY increase for the company. Nio's delivery figures included the <strong>ONVO</strong> line, which boasted 16,434 deliveries, while <strong>Firefly</strong> recorded 4,346 deliveries.</p><p>Nio's revenue also grew over 9% YoY to over $2.65 billion and a loss per share of 25 cents, beating analyst estimates of 30 cents. However, the company's revenue missed analysts' revenue estimates of $2.76 billion.</p><h2>Li Auto's Global Expansion Plans, BYD Loses Profits</h2><p>Meanwhile, Nio's fellow Chinese automaker <strong>Li Auto Inc.</strong> <span>LI</span> recently said the company plans to expand to overseas markets like the Middle East, Central Asia and Europe.</p><p>The company also highlighted that autonomous driving and robotics were a big part of its plans moving forward, adding that the company was testing robots. &#34;The third phase will be after 2027, where we will be focusing on all four autonomous driving and new form factors of AI agents,&#34; Li Auto CEO <strong>Xiang Li</strong> said.</p><p>Elsewhere, Chinese EV giant <strong>BYD Co. Ltd. </strong><span>BYDDY</span> <span>BYDDF</span> reported a 30% decline in profits during the company's earnings call, blaming the stiff competition in the domestic market due to China's EV Price War.</p><p><em>Check out more of Benzinga’s Future Of Mobility coverage by</em><em> following this link</em><em>.</em></p><ul> <li>This Chinese $30K Tesla Model 3 Rival Secured 10,000 Orders In Seven Minutes</li> </ul><p><em>Photo courtesy: Shutterstock</em></p></div></div></div>

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<p>Nio CEO William Li announced that the company's in-house smart driving chip, NX9031, matches the performance of leading industry chips while providing cost advantages. During the Q2 earnings call, he noted that the cost savings are not directly linked to sales volume. Nio reported over 31,305 deliveries in August, a 55.2% year-over-year increase, and revenue grew over 9% to $2.65 billion, although it fell short of analyst expectations. Meanwhile, Li Auto plans global expansion and BYD reported a 30% profit decline due to competition in the EV market.</p>

- Nio Inc. CEO William Li announced that the company's in-house smart driving chip, NX9031, matches the performance of four flagship industry chips during the Q2 earnings call.  
- Nio reported over 31,305 units delivered in August, a 55.2% year-over-year increase, with revenue growing over 9% to $2.65 billion, although it missed analyst estimates.  
- Meanwhile, Li Auto plans to expand internationally and focus on autonomous driving, while BYD reported a 30% profit decline due to intense competition in the EV market.  

Nio CEO William Li Says New In-House Smart Driving Chip On Par With Industry Flagships, Will Save Costs