News

Published on 16 Nov 2021 on Zacks via Yahoo Finance

EV Roundup: Q3 Highlights of NIO, WKHS, SOLO, HYLN & RIDE


Article preview image

Third-quarter 2021 results from NIO Inc. NIO, Workhorse Group WKHS, ElectraMeccanica Vehicles Corp SOLO, Hyliion Holdings HYLN and Lordstown Motors RIDE dominated last week’s key stories in the electric vehicle (EV) space. Each of these companies incurred loss for the quarter under review amid high research & development (R&D) and selling, general & administrative (SG&A) costs. In fact, apart from NIO, the other four companies are not even generating any meaningful revenues yet. Being in the nascent stages of development, the firms’ operating expenses are taking a toll on margins.

Key Takeaways From Q3 Releases

1. NIO reported third-quarter adjusted loss per American Depositary Share of 28 cents, wider than the year-ago loss of 14 cents amid higher operating expenses. The China-based EV maker posted revenues of $1,521.8 million, up a whopping 116.6% year over year on the back of robust deliveries. R&D and SG&A costs were $185.2 million and $283.2 million, reflecting a year-over-year surge of 101.9% and 94.1%, respectively.

NYSE.NIO price evolution
NASDAQ.WKHS price evolution
NYSE.HYLN price evolution

Want to become a better investor?

Start tracking your investments with Statfolio

Sign up for free
Related News
Workhorse Group Inc. stock falls Friday, underperforms market

Shares of Workhorse Group Inc. slid 7.19% to $3.10 Friday, on what proved to be an all-around dis...

Market Watch 21 Jan 2022

Workhorse Group Inc. stock underperforms Thursday when compared to competitors

Shares of Workhorse Group Inc. shed 5.11% to $3.34 Thursday, on what proved to be an all-around g...

Market Watch 20 Jan 2022

Workhorse Group Inc. stock falls Friday, underperforms market

Shares of Workhorse Group Inc. slipped 0.76% to $3.90 Friday, on what proved to be an all-around ...

Market Watch 14 Jan 2022

Workhorse Group Inc. stock underperforms Wednesday when compared to competitors

Shares of Workhorse Group Inc. dropped 0.74% to $4.01 Wednesday, on what proved to be an all-arou...

Market Watch 13 Jan 2022

Is Workhorse Group Inc.'s (NASDAQ:WKHS) Shareholder Ownership Skewed Towards Insiders?

If you want to know who really controls Workhorse Group Inc. (NASDAQ:WKHS), then you'll have to l...

Simply Wall St. via Yahoo Finance 11 Jan 2022

Workhorse Group Inc. stock outperforms competitors on strong trading day

Shares of Workhorse Group Inc. inched 0.24% higher to $4.11 Friday, on what proved to be an all-a...

Market Watch 7 Jan 2022

Workhorse names Robert Ginnan as its CFO, after an 'exhaustive' 3-month search

Workhorse Group Inc. said Tuesday it named Robert Ginnan as its chief financial officer, succeedi...

Market Watch 5 Jan 2022

Workhorse Group Inc. stock falls Tuesday, still outperforms market

Shares of Workhorse Group Inc. slumped 0.22% to $4.49 Tuesday, on what proved to be an all-around...

Market Watch 4 Jan 2022

Workhorse Group Inc. stock rises Thursday, outperforms market

Shares of Workhorse Group Inc. rallied 3.18% to $4.54 Thursday, on what proved to be an all-aroun...

Market Watch 30 Dec 2021

EV Year In Review: 5 Winners And 5 Losers From The EV Space In 2021

The electric vehicle transition was well underway in 2021, as economies slowly but steadily recov...

Benzinga 29 Dec 2021