All eyes are on Nio Inc (NYSE: NIO) today after it reported a rather huge 40% sequential decline in deliveries for its first quarter. Nio delivered over 30,000 vehicles in Q1The EV firm based out of Shanghai, China delivered 30,053 vehicles in total that translates to a 3.0% decline versus the same quarter last year.$NIO did, however, came in line with its Q1 deliveries forecast that it updated just last week.It is also important to note that the electric vehicles company delivered 11,866 units in March – up a whopping 46% versus February and 14.3% on a year-over-year basis.But a decline in quarterly deliveries, nonetheless, is significant considering peer Li Auto reported a near 53% increase in deliveries for its first quarter on Monday. Sir Richard Dearlove shares view on Chinese EVsNio Inc is now down only 20,000 vehicles before its total deliveries to date hit half a million.Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.The EV company started delivering its 2024 ES6, EC6, EC7, ES8, and ET5T models last month. Its ET5, ET7, and ES7 2024 models are slated to commence deliveries in the second quarter. $NIO is also expected to roll out its mass market electric vehicles brand in May.In March, the automaker partnered with CATL on longer life batteries. But Sir Richard Dearlove – former chief of the MI6 continues to see Chinese EV firms as a national security threat.
If we have a serious deterioration in relations with China, how is China going to exploit that asset built up over time? It’s a serious problem. Cellular modules in items of Chinese manufacturers is a real issue.
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