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Finally, a Change in Fortune for Nio

Hello and welcome to your daily Charge Smart podcast! Today, we've got some good news for you. Nio are finally seeing an upturn in their fortunes.

Above: Chinese EV manufacturer, Nio have been struggling for a while

They have been in constant trouble so far. Now, Nio have had a slight change of fortune. They sold 3,170 cars in December of last year, that included 2,537 of their increasingly popular ES6 small SUV and 633 of their larger Tesla Model X rivalling ES8 SUV. Overall, Nio sold 31,913 cars in 2019 which was still not a great year for the company. However, they did survive it which is always a plus. And it’s just as well that they did because their future is looking pretty bright for the moment. The Chinese EV firm have seen a constant sales increase of 25.4% as the months have gone by.

The ES6 has been the catalyst in Nio’s turnaround over the last few months, it’s made up a vast majority of the company’s car sales. Another key factor behind Nio’s success is the rise of their committed fans. Yup, just like your local Volkswagen car club or Subaru car club, Nio now have a strong base of brand enthusiasts who swear by the company. Their supportive community of brand enthusiasts across the country have fairly deep pockets as Nio’s cars aren’t cheap and these well-off fans of the brand have been putting their money not only towards the cars but also towards their lavish Nio houses. The company also generate a lot of engagement on China’s social media hub called WeChat.

Publicity seems to be their thing as they've also partnered with Carrera to make slot cars, Razer to make a special edition ES6 and they've also received a Red Dot award for their battery swapping stations. Nio owners have also said that the brand has turned them from EV buyers into family and that is what they appreciate the most. In a culture that really values the quality of relationships, Nio seem to have finally found their niche. Now, that Nio have got a growing force of loyal brand enthusiasts. One can expect that their sales will pick up as they keep putting out newer models. It has taken a while but the Chinese manufacturer has finally found its place as an upmarket luxury EV brand in the Chinese market.

Thanks for reading! Tomorrow, we'll revisit Total's sustainability efforts.

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