NIO Inc. Provides July 2019 Monthly Delivery Update
Delivered 837 vehicles in July 2019, consisting of 673 ES6s and 164 ES8s
Cumulative deliveries of ES8 and ES6 reached 19,727
SHANGHAI, China, Aug. 12, 2019 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium electric vehicle market, today provided its July 2019 delivery results.
NIO delivered 837 vehicles in July, consisting of 673 ES6s, the Company’s 5-searter high-performance premium electric SUV, and 164 ES8s, the Company’s 7-seater high-performance premium electric SUV and its 6-seater variant. As of July 31, 2019, aggregate deliveries of the Company’s ES8 and ES6 reached 19,727 vehicles, of which 8,379 vehicles were delivered in 2019.
“Our deliveries in July were negatively impacted by multiple factors,” said William Li, founder, chairman and chief executive officer of NIO. “In July we completed our voluntary battery recall for 4,803 ES8s. During the month, we prioritized battery manufacturing capacity for this effort, which significantly affected our production and delivery results. In addition, some deliveries were pushed forward into June in anticipation of further electric vehicle subsidy reductions that took effect at the end of June. Lastly, China’s macroeconomic and auto market conditions remained challenging, exacerbated by the US-China trade conflict and the decline in passenger vehicle sales on a year over year basis for 13 of the past 14 months.”
“On the positive side, we completed the ES8 battery recall in approximately half the time compared to our original timeline. Having taken swift and transparent actions throughout the recall process, we are happy to report that we see users’ confidence in the safety and quality of our vehicles quickly returning. Looking ahead, with battery capacity allocation back to normal, we will accelerate deliveries and make up for the delivery loss impacted by the recall. We expect August to be a much stronger month, and target to deliver between 2,000 and 2,500 vehicles,” Mr. Li concluded.
About NIO Inc.
NIO Inc. is a pioneer in China’s premium electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next generation technologies in connectivity, autonomous driving and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater high-performance premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019.
Safe Harbor Statement
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