Chinese EV Maker Nio Continues Growth Trajectory with 20,575 Vehicles Delivered in November
SINGAPORE – In a promising display of growth, Chinese electric vehicle (EV) manufacturer Nio reported delivering 20,575 vehicles in November, marking a significant 28.9% increase compared to the same period last year. This latest achievement comes on the heels of Nio’s delivery of 20,976 vehicles in October, showcasing the company’s sustained momentum in the EV market.
Nio’s Impressive Delivery Breakdown
- 15,493 vehicles were from Nio’s flagship premium EV line
- 5,082 vehicles came from its family-oriented Onvo brand
With a cumulative delivery total of 640,426 as of November 30, 2024, Nio continues to solidify its presence in the EV sector. The company also recently celebrated its 10th anniversary on November 25, highlighting a decade of innovation and progress in the industry.
Nio’s Strong Foundation for Future Growth
Nio attributes its success to a combination of factors, including its full stack, in-house developed technological capabilities, extensive nationwide power network, and unique user community. These elements have laid a strong foundation for Nio to further expand and thrive in the evolving EV landscape.
Financial Performance and Market Response
Despite its delivery success, Nio reported a net loss of 5.1 billion yuan (S$942 million) for the three months ending September 30, up from 4.6 billion yuan in the same period the previous year. Third-quarter revenue also experienced a slight decline of 2.1% to 18.7 billion yuan, with vehicle sales dropping 4.1% to 16.7 billion yuan.
Following the announcement of its November delivery figures, shares of Nio rose 0.5% to close at US$4.46 on November 29, indicating a positive market response to the company’s performance.
Source: THE BUSINESS TIMES
Conclusion
Nio’s impressive delivery numbers in November underscore its position as a key player in the competitive EV market. With a strong foundation for growth and a dedicated user community, Nio is poised to continue its upward trajectory in the industry.
FAQs
What is Nio’s total cumulative delivery count as of November 30, 2024?
Nio’s cumulative delivery count as of November 30, 2024, stands at 640,426 vehicles.
How did Nio’s stock perform following the announcement of its November delivery figures?
Shares of Nio rose 0.5% to close at US$4.46 on November 29 after the announcement of its November delivery figures.