NIO announces 7,024 vehicles delivered in May, up 4.6% year-over-year

Written by Cláudio Afonso | | LinkedIn | Twitter

The electric vehicle maker NIO announced on Wednesday that delivered a total of 7,024 units during May 2022, representing an increase of 4.6% when comparing to the same period in 2021 when delivered 6,711 vehicles (+95.3% vs 2020).

The deliveries consisted of 5,317 premium smart electric SUVs, including 746 ES8s, 2,936 ES6s and 1,635 EC6s, and 1,707 ET7s, the Company’s flagship premium smart electric sedan. As of May 31, 2022, cumulative deliveries reached 204,936 vehicles.

On Monday, Shanghai issued the notice on the Resumption of Public Transportation in and out of Residential Areas starting today, on June 1st

“All districts, towns, village committees, industry committees, and property companies shall not restrict the entry and exit of villagers living in their communities for any reason,” Shangai Government said.

As Morgan Stanley analyst said on Tuesday, Shanghai represented 15% of the 91,429 units delivered in 2021 playing an important role for the Chinese EV maker. In addition, Shanghai’s Government said on Sunday that will create a new subsidy for new energy vehicles of ¥10,000 ($1,493). NIO is raising the amount by 50% up to ¥15,000 ($2,240) from June 1 until the end of the year, according to NIO’s General Manager in Shanghai. 

In 2021, NIO delivered 91,429 units reaching another consecutive year where it can double the vehicles sales. From 2019 to 2020, the EV maker increased its deliveries by 112.6% with 43,728 units delivered. In 2021, the company sold 91,429 units achieving another 109% increase from the previous year

Morgan Stanley analyst Tim Hsiao released a note on Tuesday saying that the easing of the lockdown measures in Shanghai will help NIO to reach big gains in the near term.

“We believe the share price will rise in absolute terms over the next 15 days. The stock has traded off lately partially due to lingering concerns over the suppressed sales amid the lockdown in Shanghai, which made up 15%+ of the company’s sales in 2021,” Hsiao said.

According to sources related with the matter, the EV maker NIO just completed the construction of the modern assembly line at its second factory located at Xinqiao, Hefei, Anhui province. In less than 7 months, NIO went from breaking ground to the completion of the main project and the installation of process equipment.

Written by Cláudio Afonso | | LinkedIn | Twitter