The EV maker NIO released on Thursday its Q1 2022 Earnings results reporting $1.45b from vehicles sales, a 24.8% increase quarter-over-quarter. NIO CEO William Bin Li commented the results saying that the company “witnessed robust demand for our complementary products and achieved an all-time high order inflow in May 2022” despite the pandemic resurgence in China.
“We set new record-high quarterly deliveries of 25,768 vehicles in the first quarter of 2022, and hit the milestone of exceeding 200,000 vehicle deliveries in May within four years since our first delivery,” the CEO said.
“Despite the volatilities of supply chain and the challenges in vehicle delivery resulting from the recent COVID-19 resurgence, we witnessed robust demand for our complementary products and achieved an all-time high order inflow in May 2022”, William Li said.
“On April 29, 2022, the first batch of tooling trial builds of the ET5 rolled off the production line at the new manufacturing plant at NeoPark in Hefei. We expect to start delivery of the ET5 in September 2022. In addition, we will further enhance our product offering by introducing the ES7, a new mid-to-large five-seater SUV based on NIO Technology 2.0 (NT2.0), in June and expect to start its delivery in late August,” he added.