Chinese EV maker NIO (NYSE: NIO) delivered 5,291 vehicles in November 2020, up by 109.3% year-on-year to set a new monthly record.
This is NIO's fourth consecutive month of record deliveries, and the second consecutive month of over 5,000 deliveries since October.
Data released by the company showed that the deliveries consisted of 1,387 ES8s, it 6-seater and 7-seater flagship premium smart electric SUV, 2,386 ES6s, a 5-seater SUV, and 1,518 EC6s, a 5-seater electric coupe SUV.
NIO delivered 36,721 vehicles in 2020 in total, representing an increase of 111.1% year-on-year.
As of November 30, 2020, cumulative deliveries of the ES8, ES6 and EC6 reached 68,634 vehicles, the company said.
NIO said it is in the process of accelerating the production capacity expansion in December 2020 to accommodate the increasing order growth.
NIO shares went up by more than 3 percent in pre-market trading.
The record delivery comes as no surprise, as China's new energy vehicle market is growing rapidly and NIO, as one of the industry's most recognized companies, has a golden opportunity.
Shen Feng, executive vice president of NIO, said on October 27 that NIO sales were setting new all-time highs every month, "which we estimate may become a norm in the near future and reflects customer acceptance."
Shen said at the time that NIO's stock price was 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 was expanding the deployment of battery swap stations and was working on a new generation of battery swap stations.