I just walked through my front door after five days in San Jose for Nvidia GTC. On the way out I drove past NIO's North American headquarters — saw the EP9, saw the team working inside.I came home to one of the most significant weeks in Chinese EV history.NIO posted its first ever quarterly profit. Today Xpeng posted its first ever net profit — 380 million yuan, gross margin at 21.3%, up nearly 7 percentage points year over year. Two Chinese EV startups hitting profitability in the same month for the first time ever.Meanwhile China's March EV sales are rebounding to an estimated 900,000 units — nearly double February's numbers. The demand was always there.And there's a fascinating picks and shovels story developing in the battery industry that actually makes the bull case for NIO stronger than most people realize.Full breakdown today — fresh off the plane.Nord Security Products:* NordVPN: ⁠https://go.nordvpn.net/aff_c?offer_id=15&aff_id=143053&url_id=902⁠* NordPass: ⁠https://go.nordpass.io/aff_c?offer_id=488&aff_id=143053&url_id=9356⁠

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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