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NIO Inc. is a pioneering company at the forefront of the premium smart electric vehicle market. Founded in November 2014, NIO is dedicated to crafting a joyful lifestyle by offering smart, electric and autonomous vehicles that enhance daily life. The company designs, develops, manufactures, and sells premium electric vehicles, pushing the envelope with continuous advancements in technology.
NIO differentiates itself through innovative features like battery swapping and autonomous driving technologies. Its product lineup includes midsize to large sedans and SUVs, with the ES8, a seven-seater electric SUV, being the first model launched in December 2017. Deliveries began in June 2018, and since then, the company has sold over 160,000 electric vehicles as of 2023, capturing roughly 2% of China's new energy vehicle market.
NIO's mission extends beyond making premium electric vehicles; it aims to create a seamless experience that integrates home, work, and travel. The company envisions autonomous cars as future living spaces, prioritizing safety and user experience.
NIO has made significant strides in enhancing its offerings with technologies such as Battery as a Service (BaaS) and subscription-based services. The recently unveiled ONVO brand focuses on enriching family life through smarter vehicle solutions. NIO continues to invest in cutting-edge technologies, aiming to be a leader in next-generation automotive experiences.
As of 2024, NIO has announced its annual report on Form 20-F, detailing its financial performance and audited statements for the fiscal year ending December 31, 2023, which are accessible on the company’s investor relations website.
NIO Inc. reported Q2 2021 total revenues of RMB 8,448.0 million (US$1,308.4 million), a 127.2% increase year-over-year. Deliveries rose to 21,896 vehicles, marking an increase of 111.9% from Q2 2020. Vehicle margin stood at 20.3%, while gross profit was RMB 1,573.9 million (US$243.8 million), up 402.7% YoY. Despite a net loss of RMB 587.2 million (US$90.9 million), this reflects a 50.1% decrease from the previous year. Looking ahead, NIO expects deliveries between 23,000 and 25,000 vehicles for Q3 2021.
NIO Inc. reported strong delivery results for July 2021, with a total of 7,931 vehicles delivered, marking a significant 124.5% year-over-year growth. The deliveries included 1,702 ES8s, 3,669 ES6s, and 2,560 EC6s. Cumulative deliveries of NIO's vehicles, including the ES8, ES6, and EC6, reached 125,528 as of the end of July 2021. This performance underscores NIO's position as a leader in the premium smart electric vehicle market in China.
NIO Inc. will disclose its second quarter 2021 financial results on August 11, 2021, after U.S. market close. The company is a leader in China's premium smart electric vehicle market. Following the results, management will host an earnings call at 9:00 PM ET, which can be accessed through a live and archived webcast on their investor relations site. Participants can join via dial-in numbers provided after registration. NIO continues to innovate in autonomous driving and electric vehicle technologies, with a focus on enhancing user experience.
NIO Inc. has appointed Ms. Yu Long as an independent director on its board effective July 12, 2021. Ms. Long, who is the Founding and Managing Partner of BAI Capital, will also chair the nominating and corporate governance committee. In a related move, William Bin Li, NIO's founder and CEO, is stepping down from the committee. This leadership change aims to enhance NIO's board with Ms. Long's extensive experience in technology investment and governance, supporting the company's commitment to innovative electric vehicles and customer experience.
NIO Inc. achieved record-breaking vehicle deliveries in June 2021, with 8,083 vehicles delivered, marking a 116.1% year-over-year increase. In the second quarter, NIO delivered 21,896 vehicles, a quarterly record with an impressive 111.9% growth year-over-year. Cumulative deliveries of NIO's ES8, ES6, and EC6 reached 117,597 units by June 30, 2021. NIO continues to innovate in premium smart electric vehicles, focusing on advanced technologies like Battery as a Service and Autonomous Driving as a Service.
NIO delivered 6,711 vehicles in May 2021, marking a 95.3% year-over-year increase. The delivery breakdown includes 1,412 ES8s, 3,017 ES6s, and 2,282 EC6s, pushing total deliveries to 109,514 vehicles as of May 31, 2021. However, deliveries faced disruptions due to semiconductor supply volatility and logistical adjustments. NIO maintains its delivery guidance for Q2 2021 at 21,000 to 22,000 vehicles, suggesting confidence in recovering from May's delays.
NIO has entered into joint manufacturing agreements with Jianghuai Automobile Group and Jianglai Advanced Manufacturing Technology for the production of its electric vehicles. Effective from May 2021 to May 2024, JAC will manufacture NIO's ES8, ES6, EC6, and ET7 models, increasing production capacity to 240,000 units annually. NIO will manage vehicle development and supply chain, while Jianglai will handle parts assembly. The agreements aim to enhance manufacturing efficiency and scale for NIO, supporting its growth in the competitive electric vehicle market.
NIO delivered 7,102 vehicles in April 2021, marking an impressive 125.1% increase year-over-year. The breakdown includes 1,523 ES8s, 3,163 ES6s, and 2,416 EC6s. As of April 30, 2021, total deliveries of ES8, ES6, and EC6 reached 102,803 vehicles. This continued growth underscores NIO's leading position in China's premium electric vehicle market.
NIO Inc. has announced an extraordinary general meeting (EGM) of shareholders to be held on June 3, 2021, to consider a proposal for amending the company's memorandum and articles of association. The record date for shareholders entitled to vote is set for May 7, 2021. The notice and form of proxy for the EGM are available on NIO's website. As a leading manufacturer of premium smart electric vehicles in China, NIO continues to drive innovation in technologies such as autonomous driving and battery swapping.
NIO reported strong financial results for Q1 2021, with total revenues of RMB7,982.3 million (US$1,218.3 million), marking a 481.8% increase year-over-year and a 20.2% rise sequentially. Vehicle deliveries reached 20,060, a 422.7% increase from Q1 2020. Vehicle margin improved to 21.2%. Despite a net loss of RMB451.0 million (US$68.8 million), this reflects a 73.3% reduction from the previous year. NIO plans to deliver between 21,000 and 22,000 vehicles in Q2 2021, projecting revenues of RMB8,146.1 million to RMB8,504.5 million, indicating continued growth amid semiconductor supply challenges.
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