NIO Conference Call: Aims to Achieve Monthly Sales of 30,000 Units, NIO Phones to be Delivered in September

On August 29th, before the US stock market opened, NIO released its Q2 earnings report. The total revenue was 8.77 billion yuan, falling short of expectations, with a net loss of 6.06 billion yuan, a YoY increase in losses of 119.6%. However, the delivery volume in July saw a significant YoY increase of 103.6%, and the delivery and revenue guidance for the third quarter reached a historical high. After the release of the Q2 performance, NIO held an investor conference call. NIO's Chairman and CEO, William Li, and other executives responded to topics such as production capacity and delivery, new vehicle models, and NIO smartphones during the conference call. Targeting Monthly Deliveries of 30,000 Units During the conference call, William Li stated that NIO's sales target is a monthly delivery volume of over 20,000 vehicles, but the sales team is prepared for a monthly delivery volume of 30,000 vehicles. Recently, there have been market rumors that NIO has been offering high salaries to sales personnel from BMW, Mercedes-Benz, and other companies. In August, NIO's car sales increased, and the monthly salary of some frontline sales personnel exceeded one million yuan. Regarding this, William Li explained that in June, they realized that the number and capabilities of NIO's sales personnel were lagging behind their competitors, making it difficult to simultaneously sell 7-8 models. Therefore, NIO has been comprehensively improving its sales capabilities since July, with an internal expectation of reaching a monthly sales volume of 30,000 units. The plan is to complete this sales capability development by the end of September, and the results of the sales capability development will gradually become evident starting from October. "In the lower-tier markets, we hope that more experienced sales personnel can join us," said William Li. Sub-brand "Alps" to Release First Product in the Second Half of Next Year William Li revealed that NIO's main brand will not have any new products next year, only regular product improvements. However, the sub-brand "Alps" will release its first model in the second half of next year, and the entire development process has been very smooth. The TT model (production line validation vehicle) has already been completed, and it is believed that this car will be very competitive. The development of the second model under this brand is also underway. William Li emphasized that the brand development concept for the mass market is different from NIO's. They will focus more on the sales volume of each model, with fewer models and a greater emphasis on the household market. NIO Smartphone to be Delivered in September Regarding NIO's smartphone, he explained that the launch of NIO's smartphone is very meaningful in terms of enhancing the competitiveness of their vehicles. NIO is not entering the smartphone market, but rather aiming to meet users' demand for better integration between their phones and cars. The smartphone products will be delivered in late September. To be continued...