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It can be said that earth-shaking changes have taken place in 2019 compared with that in 2020. When NIO suffered huge losses in 2019, founder Li Bin was named "the worst person in 2019", and netizens once commented "as early as this year and as late as next year". However, after entering 2020, even under the epidemic and market competition, NIO's sales and stock prices continued to grow, handing over a completely different answer.

Looking back in 2019, the company was in a financial emergency, and its share price plummeted under the influence of negative news such as product spontaneous combustion, layoffs and executive departures. In October 2019, the stock price of Xilai reached as low as $1.19 per share, close to the delisting red line of $1. It is understood that in order to alleviate the financial pressure, Ulai has sought financing for many times, but all of them have failed, including Beijing Yizhuang Guotou and the government of Wuxing District, Huzhou, Zhejiang, etc., but they have all failed.

Li Bin once said, "20 billion yuan is a ticket to build a car," but the loss is still faster than expected. Data show that from 2016 to 2019, Lulai Motor lost 2.573 billion yuan, 5.021 billion yuan, 9.638 billion yuan and 11.296 billion yuan respectively, with a cumulative loss of 28.5 billion yuan over the past four years.

On January 30, Li Bin of NIO said in an interview that NIO laid off 30% of its staff in 2019, the stock price also fell to a freezing point, and many people thought it was going to be delisted. Of course, we all know that the capital market will not talk about feelings, and sometimes we have to be grateful for not saving, because if the rescue comes at that time, there will certainly be a lot of conditions. Of course, for NIO at that time, any conditions will be agreed, after all, if NIO falls down, there will be nothing.

In addition to thanking the capital for not saving, we should also thank the users. Li Bin said that July 2019 was a cold winter for the entire electric vehicle industry, as subsidies went downhill, equivalent to a price increase of tens of thousands, which was very difficult for the industry at that time, as well as for NIO.

In the most difficult fourth quarter, Xilai delivered more than 8000 cars, which is of great significance to ease cash flow. If only about 3000 cars had been delivered at that time, NIO would have died, so we still have to thank the users for not giving up on us at that point in time.

In 2020, Xilai Motor still showed a depressed development state in the first half of the year under the influence of the epidemic, but with the financial support of Anhui Municipal Government, its funding problem has been alleviated. After the second half of 2020, under the tuyere of the capital market, the share price of Xilai once soared. According to relevant statistics, the share price of NIO has risen tenfold in the past year and currently has a market capitalization of US $89.1 billion, ahead of many established car companies such as BMW, Mercedes-Benz and SAIC.

However, the current development of Xilai is not enough to support its high market capitalization. According to the data, the cumulative delivery volume of Ulai in 2020 was 43728, an increase of 112.6% over the same period last year. Whether its sales are compared with overseas car companies such as SAIC, Mercedes-Benz or BMW, there is a clear gap. In other words, behind the soaring stock prices of NIO is not the figures behind sales, but the continued pursuit of the new energy vehicle market by the capital market.

On November 13, 2020, NIO was shorted by Citron, a US short seller. Citron thought the share price of NIO was worth only $25, down 7.74% on the day. In December 2020, Xilai's share price fell by 3.54%.

It is undeniable that electrification and intelligence have indeed become the future development direction of the automobile market. With the development of the automobile market, it has become a major trend for electric vehicles to replace fuel vehicles. As a leader in the field of car-building brands and even electric vehicles, the future development of Ullai is indeed full of imagination. However, in the bubble economy, as the tide of capital fades, it will continue to develop in technology, products, and so on, but its overvalued market value may have overdrawn the development performance in the next few years, which will take a long time to fill to prevent the bubble from bursting.

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