In 2020, electric vehicle and other renewable energy stocks soared as investors tried to get in on the ground floor of the transition away from fossil fuels in energy and transportation. The election of US President Joe Biden, who promised to increase investment in renewable energy policies during his presidency, contributed to the momentum.
According to Bloomberg Intelligence, traders have invested nearly $2 billion in exchange-traded funds (ETFs) focused on electric vehicles and batteries so far in 2021. Before the technology market selloff in mid-February and early March, ETF assets hit a new peak of $4.6 billion.
In the fourth quarter of 2020, revenues increased by 130 percent year on year to 6.17 billion yuan ($946.2 million), with full-year sales increasing by 106.1 percent to RMB 15.2 billion ($2.3 billion). In the fourth quarter, vehicle deliveries reached a new high of 17,353, up from 8,224 in the fourth quarter of 2019 and 12,206 in the third quarter of 2020. The total number of vehicles delivered in 2020 was 43,728, up from 20,565 in 2019.
Nio's Fourth Quarter
NIO's fourth-quarter net loss shrank by 51.5 percent to $212.8 million, while its full-year net loss shrank by 53 percent to $812.9 million.
According to capital.com In the fourth quarter of 2020, revenues increased by 130 percent year on year to 6.17 billion yuan ($946.2 million), with full-year sales increasing by 106.1 percent to RMB 15.2 billion ($2.3 billion).
In the fourth quarter, vehicle deliveries reached a new high of 17,353, up from 8,224 in the fourth quarter of 2019 and 12,206 in the third quarter of 2020. The total number of vehicles delivered in 2020 was 43,728, up from 20,565 in 2019.
NIO's fourth-quarter net loss shrank by 51.5 percent to $212.8 million, while its full-year net loss shrank by 53 percent to $812.9 million.
Record Vehicles Delivery
In 2021, the company delivered a record 7,225 vehicles in January and 5,578 vehicles in February, up 352% and 689% year on year, respectively, according to NIO's founder, chairman, and chief executive officer, William Bin Li, in a quarterly earnings call.
During the first quarter, the company plans to produce 20,000-20,500 cars, up 421-434 percent from the first quarter of 2020 and 15-18 percent from the fourth quarter. Total sales are expected to increase by 438.1-450.8 percent year over year in the first quarter, to between $1.13 billion and $1.16 billion.
