10,000th NIO ES8 formally rolls off production line

Shanghai (Gasgoo)- The 10,000th NIO ES8 officially rolled off the production line on November 27. By the end of October, the EV startup has delivered a total of 4,941 ES8s in 170 Chinese cities, according to local media.

NIO announced last month that its revenues in the third quarter (Q3) tremendously surged 3095.3% over the previous quarter to RMB1.47 billion. However, the EV maker still took on a net loss of RMB2.81 billion in Q3, 56.6% more than that of the second quarter (Q2), with the deliveries of the NIO ES8 gradually growing.

The startup saw its quarterly gross margin jump to -7.9% in Q3 from -333.1% in Q2. The Q3 revenues and operation costs from the automotive arm were RMB1.427 billion and RMB1.489 billion, thus NIO still faced a loss on car business of RMB62 million. The loss assigned on a per-car basis should be around RMB18,900, much less than the RMB1.4113 million in Q2. 

The revenues from other businesses in Q3 were RMB43 million, zooming up 2581.8% compared with Q2, thanks to the growth of private charging piles, said the startup. 

NIO predicts that it will see its revenues in Q4 shoot up 95.6% to 103.8% from the previous quarter. 

From July to September, NIO handed over 3,268 ES8s in total, while its deliveries in Q2 were only 100 units. The company forecasts that the sales in the fourth quarter (Q4) may lie between 6,700 units and 7,000 units.

According to the introduction from NIO's official website, the NIO ES8 is a full size 7-seater electric SUV with a 2-3-2 seating arrangement. The length of the vehicle is over 196 inches long and the wheelbase is over 118 inches long. The ES8 has an all-aluminium body and chassis, front and rear motors with electric all-wheel drive, and active air suspension. The ES8 features the "design identity" of every NIO vehicle: the X-bar and signature “Spark Beat” tail lights. The vehicle's swappable battery will provide a charging experience that surpasses refueling at gas stations. The manufacturing and supply chain that will produce the ES8 is already in place.