I was expecting net loss pass $1B and cash reserve less than $3.5B after massive expansion in Nio Houses and Battery Swap Stations across China and Europe. However net loss stood at $835M and cash equivalents and/or cash reserve of $4.3B should be more than enough for building Alps and Firefly sub brands without diluting more shares and beyond 2025. Financially they have good cash reserve and expecting massive delivery of 55-57k in 3Q which is likely easy to beat expectations. Plus NT2.0 is full steam production without additional R |