Nio Inc. (NYSE:NIO) Q3 2020 Earnings Conference Call - Final Transcript

Nov 17, 2020 • 07:00 pm ET


Nio Inc. (NYSE:NIO) Q3 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Hello, ladies and gentlemen, thank you for standing by for NIO Incorporated Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today's conference call is being recorded.

And I will now turn the call over to your host, Mr. Rui Chen, Director of Investor Relations of the company. Please go ahead, Rui.

Rui Chen

Thank you. Good morning and good evening, everyone. Welcome to NIO's third quarter 2020 earnings conference call. The company's financial and operating results were published in the press release earlier today and are posted at the company's IR website. On today's call we have Mr. William Li, Founder, Chairman of the Board and Chief Executive Officer; Mr. Steven Feng, Chief Financial Officer; Mr. Stanley Qu, VP of Finance; and Ms. Jade Wei, AVP of Capital Markets and Investor Relations.

Before we continue, please be kindly reminded that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties, as such, the company's actual results may be materially different from the views expressed today. Further information regarding risks and uncertainties is included in certain filings of the company with the US Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law.

Please also note that NIO's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Please refer to the news press release, which contains a reconciliation of the unaudited non-GAAP measures to comparable GAAP measures.

With that, I will now turn the call over to our CEO, Mr. William Li. William, go ahead, please.

Bin Li

[Foreign Speech] Hello everyone, thank you for joining NIO's 2020 Q3 earnings call.

[Foreign Speech] In the third quarter of 2020, NIO delivered 12,206 ES8, ES6 and EC6, representing a strong growth of 154.3% year-over-year and 18.1% quarter-over-quarter. In October 2020, we delivered 5,055 vehicles, achieving another monthly delivery record.

[Foreign Speech] ES6 has been the best selling electric SUV in China for 13 consecutive months. ES8 has reached the number one in sales this year in the premium electric SUV segment, priced above RMB400,000 in China. Our third product, EC6 has started the deliveries in September. We have obtained and maintained a great word-of-mouth reputation for our products' quality and service and continuously received positive feedback from our users. In the 2020, China New Energy Vehicle Experience Index released by JD Power in September, NIO has once again ranked highest in NEV new vehicle quality among all brands.

[Foreign Speech] After the launch of Battery-as-a-Service or BaaS, NIO's products and services have been increasingly accepted by more users. The new order intake in October broke the historic record and exceeded our expectations. In the fourth quarter, we are confident that the deliveries will further grow to between 16,500 and 17,000 units.

[Foreign Speech] In terms of