NIO’s 50,000th mass-produced vehicle rolls off production line in Hefei

Shanghai (Gasgoo)- NIO witnessed on July 18 its 50,000th mass-produced vehicle roll off the production line at the JAC-NIO Advanced Manufacturing Center in Hefei, only 783 days after the first one coming out, the EV manufacturer announced via its WeChat account.

Up until now, the users of the high-profile EV startup have driven for over 800 million kilometers with their foot prints covering 341 cities in China, said NIO.

(NIO ES6)

The data offered by the China Automotive Technology & Research Center (CATARC) show that the insurance registrations of the NIO-branded vehicles climbed 10% month over month to 3,720 units in June, including 2,464 ES6s and 1,256 all-new ES8s. For the second quarter of the year, there were 10,229 consumers in China buying the mandatory liability insurance for NIO's vehicles, a precipitous hike of 168% over the previous quarter.

NIO China signed a strategic cooperation agreement with six Chinese banks on July 10, pursuant to which the banks will grant NIO China a credit line worth 10.4 billion yuan ($1,487,371,600).

As of the signing time, NIO has raised over 10 billion yuan ($1,430,165,000) of funds so far this year by selling convertible notes, obtaining strategic investments for NIO China and offering American depositary shares. The newly-approved credit line further indicates that NIO has been solved its potential cash flow issue and regained the market's confidence.

(NIO EC6)

Reportedly, NIO will announce the price and technical configurators of its third production model, the NIO EC6, at the forthcoming Chengdu Motor Show 2020, and afterwards start delivering the vehicle in September.

Unveiled at the NIO Day held on December 28, 2019, the EC6 is deemed as the coupe version of the ES6 SUV (photo source: NIO).