NIO Inc. Provides May 2020 Delivery Update

SHANGHAI, China, June 04, 2020 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today provided its May 2020 delivery results.

(Photo source: NIO)

NIO delivered 3,436 vehicles in May 2020, representing a strong 215.5% growth year over year. The deliveries consisted of 2,685 ES6s, the Company's 5-seater high-performance premium smart electric SUV, and 751 ES8s, the Company’s 7-seater high-performance premium smart electric SUV and its 6-seater variant. As of May 31, 2020, cumulative deliveries of the ES8 and the ES6 reached 42,342 vehicles, of which 10,429 were delivered in 2020.

“In May, we achieved record-high monthly deliveries in our history. We truly appreciate the trust and support that NIO users have been giving us and we remain fully committed to the vision of building the best user enterprise by offering high-quality premium smart electric vehicles in the years to come,” said William Bin Li, founder, chairman, and chief executive officer of NIO. “We are proud of our teams for their continuous efforts and determination in delivering the solid results, and we will further increase our production capacity and expand our sales network to support our future growth.”

Steven Feng, chief financial officer of NIO, added, “We are pleased to see the strong monthly deliveries despite fewer working days due to the public holiday in May. We expect to achieve the delivery goal for the second quarter 2020, while continuously improving gross margin and narrowing operating loss.”