Credit: NIO

NIO on track to deliver 18,000 vehicles in July after ramping up production in June

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter

On Monday, Bank of America hosted a conference call with the NIO management team where the EV maker confirmed the production ramp during June from 400 to 600 daily units.

The increase of production capacity at its plant by 50 percent puts the company on course to deliver around 18,000 vehicles provided it does not suffer from component restrictions or Covid-19 measures in the coming weeks.

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NIO has increased its daily production capacity from 400 units to 600 units in June, and management saw strong orders for both ES7 and ET7, with ET7 order backlog pushing its capacity allocation towards the upper limit. NIO believes it is on track for ramping up capacity and pushing monthly delivery growth in 2H22,” BofA wrote.

In June, NIO delivered 12,961 units — up 60.3% year-over-year — bringing the total to 25,059 vehicles in the second quarter of the year while the cumulative deliveries reached 217,897 as of June 30, 2022. The deliveries consisted of 8,612 SUVs, including 1,684 ES8s, 5,100 ES6s, and 1,828 EC6s, and 4,349 ET7s.

The call with the Shanghai-based EV maker covered NIO’s sub-branding, the launch of a new model in 2023, autonomous driving, and increased production capacity. According to the note released, the company also “indicated there could be more surprises in terms of new product launches in 2023, besides the existing pipeline” and confirmed the arrival of new versions of ES8, ES6, and EC6 based on the NT2.0 platform next year.

On Monday, the EV maker said it has decided to “form an independent committee, consisting of independent directors to oversee an independent investigation regarding the allegations made in the Short Seller Report“. NIO added that will provide updates on the Independent Investigation in due course consistent with the requirements of applicable rules and regulations of the three Exchanges.

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter

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