On January 17, Nio announced updates to their existing vehicle lineup. The 2024 model versions are set to commence deliveries in early March, with short-term purchase incentives offered for the 2023 models.
According to official sources, all Nio models are equipped with four Orin chips, boasting a computing power of 1016Tops. This comprehensive and advanced deployment of intelligent hardware ensures a continuous improvement in user experience.
Moreover, towards the end of January, the Nio Banyan system will receive an update encompassing more than 40 feature enhancements. This upgrade will enhance the performance and experience of intelligent chassis, cockpit, active safety, and full-domain assisted driving. For context, in 2023, Nio’s complete lineup of eight models achieved a sales volume of 160,000 units.
In other news, on the same day, Nio Automotive announced that they would further upgrade the intelligent hardware configuration of their existing models, with the new models scheduled to start delivery in early March 2024.
In 2023, Nio delivered over 160,000 units across its eight models, securing the top spot in the premium pure electric market segment priced above 300,000 yuan (41,800 USD).
Later this month, the new version of the Nio Banyan system is expected to undergo more than 40 functional upgrades, significantly improving the capabilities and user experience of intelligent chassis, cockpit, active safety, and full-domain assisted driving.
In 2024, Nio plans to upgrade the intelligent hardware configurations of its current models further, with the new models set to begin deliveries in early March. In celebration of the upcoming Chinese New Year, Nio offers short-term purchase benefits for the 2023 model range.
According to the first internal letter of 2024 released by Nio’s Chairman and CEO, Li Bin, Nio will focus on three “high-priority items” in 2024: ensuring long-term investment in core critical technologies to maintain the lead in technology and product delivery; enhancing sales and service capabilities to meet intense market competition; and providing the development of 9 core products across three brands progresses on schedule.
Per media reports, Nio currently plans three brands, with the Nio brand having already launched eight products. There are no new products slated for release this year under this brand. The second brand, internally codenamed “Alps,” is expected to introduce its first SUV model in the latter half of the year. The third brand, codenamed “Firefly,” aims to debut a small car akin to the BMW MINI in the European market by 2025.
In December 2023, Nio delivered 18,012 vehicles, a 13.9% increase year-over-year, totaling 160,038 deliveries, a 30.7% increase from the previous year. As of December 31, 2023, Nio has delivered 449,594 new cars.
By comparison, Li Auto delivered 50,353 new vehicles in December, a 137.1% increase year-over-year, and XPeng Motors produced 20,115 new cars, a 78% increase.
During Nio’s media face-to-face event in December 2023, Nio’s president, Qin Lihong, stated that investing in service stations and battery swapping is not a distraction. For Chinese automotive companies to establish premium brands, diverse efforts are necessary, even if it means incurring some learning costs. He reassured that Nio was not squandering investors’ money and was not an inefficient company.
