Source: SourceAuto

"You can buy a NIO for just 125,000 yuan!"

Recently, social media platforms like Xiaohongshu and Weibo have buzzed with discussions about NIO's new car deals, capturing the attention of the automotive community. This excitement stems from NIO's announcement that popular models such as the ET5 and ES6 will soon be updated, prompting the automaker to offer substantial discounts on current models to clear inventory. This has left many potential buyers who have been waiting for a good deal feeling antsy.

Similarly, rumors suggest that CATL might be eyeing NIO's deals.

On April 7, news broke that CATL intended to acquire control of NIO Power, a subsidiary fully consolidated into NIO's financial statements and owner of over 3,000 battery swapping stations. However, CATL responded on April 8, stating, "There is no more information."

Unfortunately, whether it's about catching a great deal on a NIO car or on NIO itself, the situation is not as straightforward as it may seem.

For those hoping to drive a NIO for just 125,000 yuan, the good news is that the discounts are legitimate; however, the bad news is that they are only available to a limited number of consumers - existing NIO owners who enjoy lifetime free battery swapping benefits.

On April 8, SourceAuto learned from a NIO showroom in Guangzhou that achieving the 125,000 yuan price tag requires stacking multiple policies, including purchasing the car through the battery-as-a-service model, existing owners relinquishing their lifetime free battery swapping benefits, and exhibition car discounts. For most ordinary consumers, an entry-level NIO under the battery-as-a-service model typically costs between 160,000 and 170,000 yuan.

Given that four of NIO's best-selling models - the ET5, ET5T, ES6, and EC6, collectively known as '5566' - are about to be updated, the company has indeed increased promotional discounts in recent days. According to a NIO ES6 owner who took delivery at the end of March, the current discount policy offers an additional 10,000-20,000 yuan in equivalent cash discounts compared to when they placed their order.

Notably, since the new policy somewhat disadvantaged this recent buyer, NIO compensated them with six months of NOP intelligent assisted driving subscription service.

"The new '5566' models mainly feature adjustments to the center console screen, gear shift lever, and intelligent driving chips, but they haven't transitioned to the NT3.0 platform like the latest ET9. This means there won't be significant differences in power consumption, charging speed, etc., compared to current models," a NIO showroom staff told SourceAuto.

In other words, consumers aiming for a 125,000 yuan NIO are likely to be disappointed. Similarly, onlookers eagerly anticipating CATL's potential acquisition of NIO's battery swapping stations may also be let down.

"It's possible they didn't clearly distinguish between NIO Power and Wuhan Weienergy," a source close to NIO told SourceAuto on April 8. The rumors about CATL negotiating to acquire control of NIO Power might stem from misinformation regarding CATL's previous plans to invest in Wuhan Weienergy.

In late March, multiple media outlets, including 36Kr, reported that alongside announcing a strategic partnership with NIO and investing up to 2.5 billion yuan in NIO Power, CATL also planned to increase its investment in battery swapping by investing in Wuhan Weienergy, a battery asset company related to NIO.

According to Tianyancha, NIO Power Investment (Hubei) Co., Ltd. is a subsidiary fully consolidated into NIO's financial statements with a nearly 91% shareholding ratio. Wuhan Weienergy Battery Asset Co., Ltd., on the other hand, is jointly owned by multiple investors, including NIO, CATL, and local state-owned assets. In terms of business, NIO Power is responsible for the construction and operation of battery swapping stations, while Wuhan Weienergy owns the batteries in NIO's battery-as-a-service model and provides battery asset management-related services.

As one of the major shareholders in Wuhan Weienergy since its establishment, CATL aims to make significant strides in the battery swapping sector this year. In this context, strengthening its influence in Wuhan Weienergy to extend battery asset management services to more automotive brands beyond NIO aligns with CATL's development interests.

On the other hand, for NIO Power, aside from the question of whether NIO would sell its battery swapping business, which is considered the heart of the enterprise, CATL acquiring this company, which owns over 3,000 NIO battery swapping stations, would not directly benefit its battery swapping operations. The batteries and battery swapping technology in NIO's system are not compatible with CATL's established Chocolate battery swapping stations.

From both NIO's and CATL's perspectives, trading NIO Power is a deal that doesn't immediately benefit either party. Despite NIO's current challenges, it's far from being a vulnerable target.

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