Shulou(Shulou.com)12/24 Report--

CTOnews.com December 5 news, Weilai today announced third-quarter results, Weilai Q3 revenue of 19.0666 billion yuan, the same period last year 13 billion yuan, the market is expected to be 19.373 billion yuan.

At the Q3 earnings call, Li Bin, chairman of Lvlai, said that a shared power exchange network will be built from next year and the year after next, which can be used by both Ulai and co-brand users, thus forming two NIO dedicated and shared power grids.

We will open the mass market brand battery packs and replacement power stations to the partners, they will develop their models based on the battery packs, they will need to transform the chassis, it will take some time.

After the beginning of our cooperation, they will choose some models to adapt to the battery pack, the overall development cost is not very high, but it takes a certain cycle.

In addition, Weilai also said that the current charging pile business has basically broken even, there are also investors interested in independent financing of NIO Power, the future does not rule out the possibility of independent financing of NIO Power.

Recently, we announced the cooperation between Weilai and Changan and Geely's power exchange strategy. From the perspective of Weilai, we have always believed that the power exchange network is very similar to the cloud business infrastructure and infrastructure in the Internet industry: both have very strong network effects and require long-term investment; at the same time, both have to fully verify themselves and prove that they meet the needs of users before opening up to the outside world. Therefore, after more than five years of actual operation, we think that Weilai can now open to the outside world, and we already have the ability to open up.

When it comes to changing electricity, we have always said that it has many advantages, such as faster speed, better user experience and so on, both for users and social benefits. However, it should be noted that the vast majority of urban users in China live in apartments, so it is actually very difficult for more than half of the users to install charging piles. Therefore, changing electricity is the best form of experience for Chinese users, especially for mass market users, because Weilai users are relatively high-end, so the installation conditions of home charging piles are better, but for mass market users, the proportion of people who are able to install charging piles at home is lower.

Because of this, we decided to open up the second brand of Weilai, that is, the standard battery pack for mass market brands. After opening up, we can see that these auto companies in China are very active. At present, two have announced the signing of contracts, and several are in the process of negotiation. Therefore, we believe that the service ability, technical level and basic network construction of Weilai are all they need, and they also see the advantages of Lulai service from the point of view of the interests of users.

We believe that in the long run, Weilai's power exchange business is certainly a sustainable and profitable business. Through the actual operation, we have fully believed this.

As for NIO Power, if we want to further build the network, we do need some capital expenditure investment, and we are also cooperating with the outside world in various ways. Recently, some partners have carried out similar cooperation with us: they are responsible for building the exchange power station and leaving it to us to operate, and then they buy the products of the Weilai exchange power station to hold the exchange power station. and then into the Weilai network to let us operate. At present, dozens of power stations have adopted this mode of cooperation, which will not only be a long-term and sustained way of foreign cooperation in the future, but also a mode in which the assets of the power station will be held by a third party.

For NIO Power itself, our charging business has basically achieved a break-even. At present, more than 80% of the electricity is used by users of brands other than Ulay. We believe that in the long run, the company's power exchange business is also profitable, currently in some areas we have seen the fact of profitability. Of course, there are some investors interested in the spin-off financing of NIO Power, and we also have some initial contact, but we do not have any more information to share with you today, but we do not rule out such a possibility.

According to the CTOnews.com inquiry, as of December 5, 2196 replacement power stations have been built, including 694 expressway replacement stations, 3480 charging stations (20441) and 960000 square piles.

In November, Xilai delivered 15959 cars, an increase of 12.6% over the same period last year. From January to November 2023, a total of 142026 new cars were delivered, an increase of 33.1% over the same period last year. A total of 431582 new Weilai cars have been delivered.

As for the electricity exchange business of Weilai, Li Bin said:

From the perspective of Weilai, the power exchange business is very similar to the cloud service, and the network effect is very strong, which requires long-term investment and needs to be fully verified and proved by itself before it can be opened to the outside world. After more than five years of operation, we think it is time to open up.

Of course, the power exchange business has many advantages, including user experience and social benefits. It should be noted that the vast majority of urban users in China live in apartments, and many users have no way to install charging piles, so it is very necessary to change electricity. Especially for mass users. Therefore, we have opened up the power exchange system of the second brand for the general public.

We already have two companies in the process of signing and several others are still under negotiation. They should also see the advantages of changing electricity from the point of view of the interests of users.

We believe that the power exchange mode is sustainable and profitable. NIO Power continues to invest. We are also cooperating with the outside world in various ways. For example, some partners buy exchange power stations, but give them to our network to operate. At present, dozens of power stations are already under way.

We believe that the power exchange mode will be profitable in the long run. And profit opportunities have been seen in some areas.

NIO Power also seeks to open up at the capital level, but there is no information that can be made public.

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