Latest news with #Onvo
Business Times
15 hours ago
- Automotive
- Business Times
Nio's May deliveries up 13.1% as Firefly rolls out, but stock hovers near 52-week low
[SINGAPORE] Chinese electric vehicle (EV) maker Nio delivered 23,231 vehicles in May, marking a 13.1 per cent increase year on year, the company said in a regulatory filing on Sunday (Jun 1). This was, however, about 2.8 per cent fewer vehicles compared to Nio's delivery of 23,900 vehicles in April. Of the deliveries made in May, the company said 13,270 were from its premium smart EV brand Nio, 6,281 from its family-oriented smart electric vehicle brand Onvo, and 3,680 from its small smart high-end electric car brand Firefly. As at end-May, Nio's cumulative deliveries reached 760,789 vehicles – about 47 per cent higher than the 515,811 vehicles delivered as at May 31, 2024. Firefly is the latest brand to join Nio's portfolio, having officially launched on Apr 19, with deliveries in China starting later that same month. As part of its initial rollout, Firefly delivered 231 vehicles in April. The launch of its Firefly brand follows the company's weak performance in the fourth quarter, with a net loss of 7.1 billion yuan (S$1.3 billion) despite delivering a record number of vehicles in that period. This brought Nio's net loss for the 2024 financial year to 22.4 billion yuan. Nio is listed on the New York Stock Exchange, with secondary listings on the Singapore Exchange and Hong Kong Exchange. Its shares have fallen about 31.6 per cent over the past year, closing at US$3.54 on Friday. As at 2 pm on Monday, Nio's shares were down US$0.10 or 2.7 per cent at US$3.54 – near its 52-week low of US$3.21, and a far cry from its October 2024 peak of US$7.56.
Yahoo
25-05-2025
- Automotive
- Yahoo
Is Nio Stock a buy Now?
Shares of the Chinese electric vehicle maker dropped 94% from their 2021 peak. In April, Nio delivered 23,900 vehicles, marking a 53% year-over-year increase. It faces fierce competition in China and tariff risks as it looks to expand abroad. 10 stocks we like better than Nio › If you've been keeping an eye on Nio (NYSE: NIO) stock, you know it's been on quite the roller-coaster ride since its initial public offering (IPO). After soaring to an impressive high of $67 per share in early 2021, the stock has investors buzzing with excitement. But since then, the narrative has shifted. Amid the volatility, Nio is making strides in China's fiercely competitive electric vehicle (EV) market, which is poised for explosive growth, projected to grow by 16% annually by 2030. With the stock currently down 94% from its peak, you may be wondering: Is now the time to invest in Nio? Let's dive into the company, its growth, and competitive landscape to find out. In April, Nio achieved impressive delivery growth, rolling out 23,900 vehicles -- a 53% increase compared to the previous year. This growth spanned its diverse brand portfolio, which includes Nio's premium smart EVs (19,269 units) and Onvo, its family-oriented line (4,400 units). Nio also launched deliveries for its new brand, Firefly, a compact, smart, high-end EV designed for drivers seeking an affordable solution. With a starting price of $16,410, Firefly aims to compete with established European city cars like the Renault 5. It plans to launch Firefly in Europe this summer. Looking ahead, Citi forecasts that Nio could deliver 63,000 units in the second quarter, representing 50% growth quarter over quarter. This projection highlights Nio's expansion strategy and shows it continues to capitalize on the demand for EVs. Another unique aspect of Nio's business is its battery-swap service, which addresses one of the biggest concerns among EV users: charging time. While conventional charging can take anywhere from 30 minutes to an hour, Nio's battery-swap technology allows drivers to replace their depleted battery with a fully charged one in just 3 to 5 minutes. Nio's battery-as-a-service (BaaS) model allows customers to purchase vehicles without a battery, significantly lowering the initial cost. Customers subscribe to the battery-swap program, which can provide recurring revenue for Nio while also addressing customer concerns about battery depletion. Nio has roughly 3,100 battery-swap stations in China and plans global expansion. However, recent developments indicate a slowdown in this growth, particularly in Europe, where investment cuts have led to downsizing in its Power team. Consequently, the rollout of new battery-swap stations has been reduced, with only three projects currently under development. Nio is growing rapidly and, along with other Chinese EV makers, has received considerable support from the government through subsidies and policies that favor domestic EV manufacturers. That said, Nio is grappling with high operating costs and has yet to achieve profitability. It also faces a fierce pricing war in the Chinese market, driven by aggressive price cuts from BYD, Li Auto, and other competitors. Last year, Nio lost RMB 22.4 billion ($3.1 billion), up from its RMB 20.7 billion ($2.9 billion) loss the year before. NIO Revenue (TTM) data by YCharts. There are also regulatory risks associated with Chinese companies. In April, there emerged concerns about the possibility of Chinese companies delisting from U.S. exchanges, although the chances of this happening are low. More relevant concerns revolve around trade and tariffs. Last year, Europe imposed significant tariffs on Chinese-made EVs due to unfair competitive practices that could undercut European automakers. The two sides are negotiating a deal that could replace tariffs with minimum prices, but the question of fair trade and tariffs remains something to keep an eye on. Nio is experiencing solid growth, but as losses pile up, it is exploring cost-saving measures to improve profitability and streamline operations. It faces intense competition in China and encounters uncertainty due to tariffs from the U.S., Europe, and others, which could hinder its international expansion efforts. While Nio is growing quickly, it may not be suitable for the faint of heart. Aggressive investors may want to add it to their portfolios based on its top-line growth, but I would like to see improvements in cost management and profit margins before scooping up shares of the EV stock. Before you buy stock in Nio, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nio wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Citigroup is an advertising partner of Motley Fool Money. Courtney Carlsen has no position in any of the stocks mentioned. The Motley Fool recommends BYD Company. The Motley Fool has a disclosure policy. Is Nio Stock a buy Now? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
22-05-2025
- Business
- Business Wire
Onvo Launches Sizzling Summer Sweepstakes
SCRANTON, Pa.--(BUSINESS WIRE)-- Onvo, a Northeast Pennsylvania-based travel plaza chain, is turning up the heat this summer as today they announced the launch of their Sizzling Summer Sweepstakes. Participants will have the chance to win the grand prize of a Caribbean cruise for two. To enter the sweepstakes, download the Onvo app between now and September 1,and fill out the entry form for a chance to win. Throughout the duration of the sweepstakes, there will be weekly in-app giveaways. Some of the experiences and items that will be distributed in these weekly giveaways include: Tickets to MLB games Tickets to NASCAR races Penn State Athletics tickets Amusement park tickets Onvo swag Free coffee for a year In addition, Onvo will be giving away free roller grill items to customers that use the Onvo app at participating locations every Tuesday during the sweepstakes. 'At Onvo, we take incredible pride in fueling our customers' journeys each day,' says Harman Aulakh, Vice President - Marketing at Onvo. 'Through this sweepstakes, we are thrilled to have the opportunity to take that to the next level and fuel the next exciting adventure for a number of our fantastic customers. We hope the experiences offered through this sweepstakes give the recipients memories they'll carry with them to wherever their journey takes them next.' Participants can enter at any time throughout the duration of the sweepstakes. The weekly giveaways will continue through the week of August 25, with the winner of the grand prize Caribbean cruise being randomly selected at the conclusion of the sweepstakes on September 1. For more information and to enter the sweepstakes, download the Onvo app or click here. About Onvo Founded in 1988, Onvo—formerly known as Liberty—is a family business with its roots in Northeast Pennsylvania. The Onvo story begins 35 years ago with the first truck stop just outside of Scranton, PA. Since then, the Onvo team has built a network of travel plazas, convenience stores, and restaurants dedicated to serving the travelers of Pennsylvania, New York, and beyond. As of 2025, the Onvo family of businesses now includes 40 travel plazas and gas stations, 24 quick-service and full-service restaurants, petroleum distribution, and 6 hotels in Pennsylvania and Upstate New York.
Motor Trend
12-05-2025
- Automotive
- Motor Trend
Heavily Robotized Chinese EV Startup Plant's Cost-Cutting Secrets
During the week of Auto Shanghai 2025, we visited Nio, driving examples from across the private new-energy-vehicle startup's range, including the compact Firefly EV, the family crossover Onvo L60, and the Maybach-challenging Nio ET9. On the final day of our trip, we visited the greenfield plant that makes the latter two: Nio's Factory 2 in Hefei, China, which is located on the 4.4-square-mile NeoPark. That's not a typo—it's the official name of the government-owned EV-manufacturing campus that incorporates 10 supplier factories and leaves room for future expansion of the factory's footprint. The 284-acre Factory 2 employs 2,500 people and myriad robots capable of cranking out a vehicle per minute. That would be 300,000 on two shifts; last year 120,000 cars were produced on one shift. F2 secures roughly half its power needs from the 53 GWh of solar energy it collects. A sponge system of landscaping collects rainwater for use in the plant, and a heat-pump HVAC system helps earn the factory a LEED Gold environmental rating. Nio House Delivery Center Our tour began in the giant round Nio House gathering-space/showroom/delivery center, which connects via a bridge to the Factory. (Roughly 5,000 buyers living in the Hefei region choose to take delivery of their Nio and Onvo products at the Factory 2 Nio House, during which they can schedule a factory tour (as can any Nio owner any time). Painted Body Bank All Nio/Onvo/Firefly models are built to order, with the promise of delivery within two weeks in most cases. It's more efficient to build and paint bodies in batches—especially in a factory that can build 3.5 million different combinations among its five models (the Nio ET5, ET5 Touring, ES8, ET9, and Onvo L60). Located at the end of the bridge from the Nio House is a vertical storage area where 246 painted bodies can be banked. There is also vertical storage for 250 freshly framed bodies-in-white and another 250 that are primed and ready for paint. Near 100-Percent Robotic Operation Humans mostly oversee robots and perform quality audits at Factory 2. Some 140 robots handle all painting, for example. Human eyes and gloved hands are needed to debur door stampings—checking and filing down any rough edges before placing doors in a rack, sometimes manually moving said rack and then registering its QR code so automatic-guided vehicles (AGVs) can transport the rack of doors to the line when it's needed. Automatic-Guided Final Assembly Rather than a fixed assembly line, off of which it's difficult to pull a single vehicle in need of rework, the cars move through Nio's 1.6-million-square-foot final-assembly area on their own AGVs, allowing any car to peel off for extra inspections or rework, or, for example, when attempting to test-run preproduction models down the line. Assembly Islands Another innovation at F2 is the notion of AGV-fed assembly islands for subassemblies like instrument panels and tailgates. Autonomous Drive-Away All models produced at Nio's Factory 2 possess sufficient sensing and ADAS software to drive themselves off the assembly line and out to the test-drive track. Nio's Factory 2 doesn't seem to miss any modern-assembly tricks and no doubt contributes to the low bottom-line pricing Nio is able to offer.
Business Times
01-05-2025
- Automotive
- Business Times
Nio delivers 53% more vehicles in April following Firefly brand launch
[SINGAPORE] Chinese electric vehicle (EV) maker Nio delivered 23,900 vehicles in April 2025, marking a 53 per cent year-on-year increase, the company said on Thursday (May 1). The total comprises initial deliveries from Firefly, the company's newly launched small smart high-end EV brand, alongside 19,269 vehicles from its premium smart EV brand Nio, and 4,400 vehicles from its family-oriented brand Onvo. This has taken its cumulative deliveries to 737,558 as at Apr 30. Firefly was officially launched on Apr 19, with deliveries in China beginning later that month. Nio said it plans to expand the brand to global markets in the near future. Nio noted that Firefly is built on its strengths in research and development, design, safety standards and intelligent technologies. It added that Firefly reflects its brand DNA of being 'vivid, thoughtful and solid' and 'offers a vivid driving experience where users can embrace the freedom to glow' The EV maker is listed on the New York Stock Exchange, with a secondary listing on the Singapore Exchange and the Hong Kong Exchange. The launch of its Firefly brand follows the company's weak performance in the fourth quarter, with a net loss of 7.1 billion yuan (S$1.3 billion) despite delivering a record number of vehicles in that period. This brought Nio's net loss for the 2024 financial year to 22.7 billion yuan. Nio noted then that it has been incurring losses since its inception. Nonetheless, it believes that its financial resources 'will be sufficient' to support its operations in the ordinary course of business over the next 12 months. 'Looking ahead to 2025, we will sharpen our focus on enhancing profitability by driving cost reductions through technological advancements, optimising operational efficiency and accelerating scalable growth,' said Nio chief financial officer Stanley Qu. Shares of Nio closed down US$0.18 or 4.2 per cent at US$4.13 on SGX on Wednesday.
