NIO CEO reacts to the deliveries results from May promising hard work

Written by Cláudio Afonso | | LinkedIn | Twitter

On Wednesday, NIO reported 7,024 vehicles delivered from May 2022 showing an increase year-over-year and also from the previous month, when delivered 5,074 units. On NIO App, William Li answered to customers and enthusiasts saying “Thank you all! We will continue to work hard in June”.

On the post, the EV maker also revealed that the “hardware upgrade plan for the smart cockpit, which consists of 8155 chip, smart gateway, high-definition camera, 5G module, etc., will be announced at the new product launch conference held in the near future”.

Now that Shanghai released the lockdown measures, the company will hold a conference to officially announce the new model, NIO ES7. The SUV will compete directly with BMW X5 that was recently launched in China.

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.

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

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