On October 29, Chinese EV maker NIO (NYSE: NIO) saw its 5,000th vehicle of the month rolled off the production line at the Hefei Advanced Manufacturing Base, the company said today.
This is the first time that NIO's mass-produced vehicle has exceeded 5,000 units per month, and also the first time that a high-end car brand in China has reached 5,000 units per month.
Separately, a recent announcement on the official website of the Beijing Municipal Government Procurement Center shows that NIO is one of the car companies that won the bid for the 2020-2022 annual government procurement project for the purchase of official vehicles for municipal administrative institutions in Beijing.
Morgan Stanley says 'NIO is a strong EV leader in the making', raises price target by 61%
NIO said on October 2 it delivered 12,206 vehicles in the three months to September 2020, up 154.3 percent from the same period last year.
In September, NIO delivered 4,708 vehicles, a new monthly record representing a 133.2% year-over-year growth.
The deliveries consisted of 3,210 ES6s, its 5-seater high-performance premium smart electric SUV, 1,482 ES8s, its 6-seater and 7-seater flagship premium smart electric SUV, and 16 EC6s, its 5-seater premium electric coupe SUV.
NIO delivered 12,206 vehicles in the third quarter of 2020, representing an increase of 154.3% year-over-year and exceeding the higher end of its quarterly guidance.
As of September 30, 2020, cumulative deliveries of the ES8, ES6 and EC6 reached 58,288 vehicles, of which 26,375 were delivered in 2020.
Shen Feng, executive vice president of NIO, said on October 27 that โNIO sales are setting new all-time highs every month, which we estimate may become a norm in the near future and reflects customer acceptance.โ
Shen also said, "NIO's stock price is going up, which reflects the capital market's recognition of the future. At the same time, the government is very supportive of NIO.
He said NIO is expanding the deployment of battery swap stations and is now working on a new generation of battery swap stations.
More on Cars
