Rate Of Return
Likes ReceivedSales plummeted, and the technological moat is mediocre.
There are supply chain integration giants like Xiaomi chasing from behind, and BYD's connections blocking the way ahead.
Nio has to bet on battery swapping because it's capital-intensive, and Nio is the only one that has been doing it diligently for a while. If there's strong policy support, it could take off—would it create an advantage similar to Luckin's purely money-burning scale-building strategy?
If battery swapping doesn't take off, long-term value investing doesn't look promising.
The domestic auto industry is being dragged down by the broader environment. The next three years might see a crisis similar to the real estate downturn. Exports have already been hit hard by tariff wars—tough times!
Of course, ultra-short-term fluctuations are hard to predict, and the intentions of major players are difficult to grasp.
$NIO(NIO.US) Onvo L90 everyone is scolding, which is also a good thing. This brand should not follow Nio's path anymore, and should even do the opposite, especially for such core products. Copy, follow tactics, follow whatever energy form is good, and use battery swapping as a supplementary item.
The suspense lies in the price, and there should be big moves at the Shanghai Auto Show.
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