Nio Inc. - NIO STOCK NEWS

NIO Inc. (NYSE: NIO) reported its July 2024 delivery results, showcasing strong performance in the premium smart electric vehicle market. The company delivered 20,498 vehicles in July, comprising 11,964 SUVs and 8,534 sedans. Year-to-date deliveries reached 107,924 vehicles, marking a significant 43.9% year-over-year increase. Cumulative deliveries hit 557,518 as of July 31, 2024.

On July 27, NIO hosted 'NIO IN 2024', unveiling major technological advancements including a 5nm intelligent driving chip, full-domain vehicle operating system, AI-driven smart systems, and advanced connectivity technology. The company emphasized its commitment to R&D and AI-based capabilities to enhance user experience and maintain competitive advantages in the smart EV market.

NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO), a leading company in the premium smart electric vehicle market, announced a significant management change on July 5, 2024. Chief Financial Officer Steven Wei Feng has resigned due to personal and family reasons, effective immediately. The company expressed gratitude for his contributions since 2019. The Board has promoted Senior Vice President of Finance, Stanley Yu Qu, to the CFO position. Mr. Qu, who joined NIO in 2016, has prior experience at Lear , Johnson Controls, and PricewaterhouseCoopers. He holds a Master’s Degree in Accounting from Shanghai University of Finance and Economics and a Bachelor’s Degree in Accounting from Peking University.

NIO Inc. announced record-high vehicle deliveries for June and the second quarter of 2024. The company delivered 21,209 vehicles in June 2024, marking a 98.1% increase year-over-year. The quarterly deliveries reached 57,373 vehicles, a 143.9% year-over-year increase. Cumulative vehicle deliveries by NIO totaled 537,020 as of June 30, 2024. The June deliveries included 11,581 premium smart electric SUVs and 9,628 premium smart electric sedans. Additionally, on June 25, 2024, NIO published its 2023 Environmental, Social, and Governance (ESG) report, highlighting its commitment to sustainability and corporate responsibility.

Cheche Group (NASDAQ: CCG), a leading auto insurance technology platform in China, announced a new partnership with NIO Insurance Broker, a subsidiary of NIO (NYSE: NIO). This collaboration aims to digitalize NIO's auto insurance processes, reduce costs, and enhance digital management. The customized digital insurance service for NIO is set to launch next quarter. Cheche will use its platform to offer comprehensive insurance solutions, leveraging AI and data analysis to provide customized pricing, claims management, and fraud prevention. This partnership marks a significant expansion in Cheche's NEV insurance business, with plans for further collaboration with other NEV manufacturers.

NIO Inc. (NYSE: NIO) has announced its unaudited financial results for Q1 2024. Vehicle deliveries totaled 30,053, a 3.2% decline year-over-year and a 39.9% decline quarter-over-quarter. Vehicle sales were down 9.1% year-over-year and 45.7% quarter-over-quarter, totaling RMB8,381.3 million. Gross profit increased by 200.5% year-over-year but decreased by 61.9% quarter-over-quarter, totaling RMB487.7 million. NIO reported a net loss of RMB5,184.6 million, a 9.4% increase year-over-year but a 3.4% decrease quarter-over-quarter. Cash and equivalents stood at RMB45.3 billion. Recent developments include the launch of ONVO's first model L60, participation in the SGX Securities Lending Program, and an investment agreement in NIO Power. For Q2 2024, NIO expects vehicle deliveries between 54,000 and 56,000 units and revenues between RMB16,587 million and RMB17,135 million.

NIO Inc. announced a record-high delivery of 20,544 vehicles in May 2024, marking a 233.8% increase year-over-year. This includes 12,164 premium smart electric SUVs and 8,380 premium smart electric sedans.

The company has delivered 66,217 vehicles year-to-date in 2024, representing a 51.0% increase compared to the same period last year. Cumulative deliveries have reached 515,811 vehicles as of May 31, 2024.

NIO has also expanded its strategic cooperation on battery swapping by partnering with GAC Group and FAW Group, enhancing its existing collaborations with Changan Automobile, Geely Group, JAC Group, Chery Automobile, and Lotus Technology. The company remains focused on developing a robust battery swapping ecosystem to ensure efficient and convenient recharging experiences for its users.

NIO Inc., a leader in the premium smart electric vehicle market, will hold its Annual General Meeting (AGM) on June 25, 2024, in Shanghai, China. Shareholders and ADS holders as of May 24, 2024, are invited to attend and vote on proposed resolutions. The Notice of AGM and proxy forms are available on NIO's website. The board supports all proposed resolutions and recommends a favorable vote. NIO has also filed its annual report on Form 20-F, including audited financial statements for the fiscal year ending December 31, 2023, which can be accessed on both the SEC's and the company's website.

NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO), a leading company in the premium smart electric vehicle market, will report its unaudited financial results for the first quarter of 2024 on Thursday, June 6, 2024, before the U.S. markets open. The company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on June 6, 2024, which will also be accessible by a live and archived webcast on the company's investor relations website. Participants can join the call by registering in advance and dialing in 10 minutes prior. A replay of the conference call will be available until June 13, 2024.

NIO Inc. reported an impressive growth in vehicle deliveries for April 2024, with a 134.6% year-over-year increase totaling 15,620 vehicles. The year-to-date deliveries also rose by 21.2%, reaching 45,673 vehicles. Overall, cumulative deliveries of NIO vehicles reached 495,267 by April 30, 2024. The company introduced the 2024 ET7 sedan with notable improvements, emphasizing luxury and innovation. NIO's collaboration with Lotus Technology aims to enhance charging and swapping technologies in line with its commitment to technological advancement and user experience.