Nio Inc announced that it delivered 10,059 vehicles in October, representing an increase of 174.3% y-o-y.
The deliveries consisted of 5,979 premium smart electric SUVs including 2,814 ES7s, and 4,080 premium smart electric sedans including 1,030 ET5s and 3,050 ET7s.
Vehicle production and delivery experienced some constraints due to operation challenges in Nio’s plants, as well as supply chain volatilities due to the Covid-19 restrictions in certain regions in China.
Cumulatively, Nio delivered 259,563 vehicles as at Oct 31.
In October, Nio also unveiled ET7, EL7 and ET5 for the European markets at Nio Berlin 2022, its European launch event. The products are now gradually made available for order in Norway, Germany, the Netherlands, Denmark and Sweden through Nio subscription, leasing programs, and direct sales to users.
The announced delivery volume represents vehicle deliveries through direct sales to users as well as to the leasing program partner in Europe in accordance with the revenue recognition policy of the company’s vehicle sales. The vehicles under Nio subscription in Europe are recognized as assets on the company’s balance sheet but not counted towards the announced delivery volume.
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Shares in Nio closed at 78 cents higher or 8.17% up at US$10.33 ($14.57) on the SGX on Nov 1.
