NIO Inc. Prudently Adjusts Fourth Quarter 2022 Delivery Outlook
NIO Inc. has lowered its fourth-quarter delivery forecast for 2022 due to production and delivery challenges stemming from the Omicron variant outbreak in China. The company now expects to deliver between 38,500 and 39,500 vehicles, down from the previous estimate of 43,000 to 48,000. Additionally, NIO recently launched new models, the EC7 and All-New ES8, during NIO Day 2022, with deliveries planned for May and June 2023. NIO continues to innovate in the smart electric vehicle market with its advanced Battery as a Service and Autonomous Driving technologies.
- Launch of new models EC7 and All-New ES8, expanding product offerings.
- Continued innovation with battery swapping technology and autonomous driving services.
- Revised delivery forecast down to 38,500-39,500 vehicles from 43,000-48,000 due to supply chain constraints.
- Production challenges caused by the Omicron outbreak affecting operations.
SHANGHAI, China, Dec. 27, 2022 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today provided an updated delivery outlook for the fourth quarter of 2022.
In December 2022, the Company has been facing challenges in deliveries and productions, together with certain supply chain constraints, caused by the outbreak of the Omicron coronavirus variant in major cities in China. While our teams have strived to maintain continuous operations on all fronts, we were not able to reach our full capacities, particularly when there have been disruptions on delivery and registration procedures involving users. The Company now expects to deliver 38,500 to 39,500 vehicles in the fourth quarter of 2022, adjusted from previously released outlook of 43,000 to 48,000 vehicles.
On December 24, 2022, the Company hosted NIO Day 2022 in Hefei, China and launched the EC7, a smart electric flagship coupe SUV, and the All-New ES8, an all-around smart electric flagship SUV, from NIO Technology 2.0 (NT2.0). The design of the EC7 interprets the power of elegance to the extreme extent. In the ES8, the unique layout of “four executive seats and one flexible third row” demonstrates the composed and generous style of the All-New ES8 as a flagship SUV. Both products further contribute to the diversity of competitive product offering, bringing user experiences beyond expectations in terms of design, performance, comfort, intelligence, safety, and sustainability. The EC7 and the All-New ES8 are expected to commence delivery in May and June 2023, respectively.
About NIO Inc.
NIO Inc. is a pioneer and a leading company in the premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, develops, jointly manufactures and sells premium smart electric vehicles, driving innovations in next-generation technologies in autonomous driving, digital technologies, electric powertrains and batteries. NIO differentiates itself through its continuous technological breakthroughs and innovations, such as its industry-leading battery swapping technologies, Battery as a Service, or BaaS, as well as its proprietary autonomous driving technologies and Autonomous Driving as a Service, or ADaaS. NIO’s product portfolio consists of the ES8, a six-seater smart electric flagship SUV, the ES7 (or the EL7), a mid-large five-seater smart electric SUV, the ES6, a five-seater all-round smart electric SUV, the EC7, a five-seater smart electric flagship coupe SUV, the EC6, a five-seater smart electric coupe SUV, the ET7, a smart electric flagship sedan, and the ET5, a mid-size smart electric sedan.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in announcements, circulars or other publications made on the websites of each of The Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore Exchange Securities Trading Limited (the “SGX-ST”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture a car of sufficient quality and appeal to customers on schedule and on a large scale; its ability to ensure and expand manufacturing capacities including establishing and maintaining partnerships with third parties; its ability to provide convenient and comprehensive power solutions to its customers; the viability, growth potential and prospects of the newly introduced BaaS and ADaaS; its ability to improve the technologies or develop alternative technologies in meeting evolving market demand and industry development; NIO’s ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of the ES8, ES7 (or EL7), ES6, EC7, EC6, ET7 and ET5; its ability to control costs associated with its operations; its ability to build the NIO brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the U.S. Securities and Exchange Commission and the announcements and filings on the websites of each of the SEHK and SGX-ST. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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FAQ
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