Today, I saw on the Internet that the market share of high-end pure electric vehicles with a terminal retail price of more than 300,000 yuan was released. Among them, NIO's market share in the first 11 months of this year was the most conspicuous, reaching 605%, continuing to lead the way. The combined share of BBA is less than half of NIO. It seems that there has been an intrunge in the pure electric market of more than 300,000 yuan, with NIO on this side of the ditch and BBA and other brands on the other side of the ditch. Having said that, Weilai's recent performance is indeed quite impressive, and the just-released financial report data shows that Weilai's revenue in the third quarter of this year reached 190700 million yuan, a year-on-year increase of 466%, an increase of 117 month-on-month4%, the gross profit margin of the whole vehicle reached 110%, cash reserves of 45.2 billion yuan, can be said to be quite eye-catching.
The large increase in sales and revenue of NIO is inseparable from NIO's continuous efforts in products, technologies, and services. According to the most advanced statistics, NIO's single-quarter R&D expenses have exceeded 3 billion yuan for four consecutive quarters, and its investment in R&D has exceeded 40 billion yuan, ranking first among new car-making forces. From this point, it can be seen that NIO is more willing to exchange it for long-term development space and form technical barriers. While insisting on self-research and development, NIO has also embraced the industry with open arms, for example, recently, NIO's battery swap model has ushered in industry partners. Changan Automobile, the "national car-making team", and Geely Holdings, a private enterprise giant, have successively announced cooperation with NIO to lay out battery swap business together. This also shows that in the eyes of industry partners, NIO has a very broad space for sustainable development. All of the above proves that NIO's layout is not only deep, but also wide, and the foundation is very solid. It is believed that such a NIO will also play a greater level in the coming 2024.