Insurance registration data shared on Tuesday showed that the Nio Group has sold 6,170 vehicles in China between September 8 and 14 — of which 2,425 were from its core brand.
Figures of the three brands compiled — Nio, Onvo and Firefly — have increased by 1.6% from the first week of September, when the Group had sold 6,270 vehicles.
However, sales figures of the premium brand edged 4.2% lower last week from the 2,530 units registered from September 1 to 7.
Sales have been below 3,000 weekly units since the last full week of July.
The company will launch the fourth-generation ES8 on Saturday (August 20), at its annual ‘Nio Day’ event in Hangzhou.
The six-seater, unveiled late last month, debuts shortly after the release of the three-rowed L90 SUV, under the Onvo brand.
Nio has started nationwide shipments of its third-generation ES8 SUV to showrooms across China, with customer deliveries scheduled to start on September 21 — less than 24 hours after the model’s official launch.
The premium EV maker first unveiled the six- and seven-seat model on August 21 with a pre-sale price starting at 416,800 yuan ($58,530), including the battery.
Last week, Nio announced a $1 billion equity raise, leading shares to sink over 8.6%. As of Monday, however, the stock rebounded and Nio closed 4.3% higher at $6.49.
A SEC filing, filed shortly after the announcement, confirmed the offering size of up to 181.8 million Class A ordinary shares, split between American depositary shares listed in New York and ordinary shares listed in Hong Kong and Singapore.
Nio said it intends to use the funds for research and development of EV technologies, to expand its lineup across its three brands, to grow its battery swapping and charging network, and to strengthen its balance sheet.
The EV maker’s founder and CEO William Li also said last week that the EV maker will fall short of its 2025 target for new battery swap stations in China, as it shifts resources toward a next-generation system.
The company has added 488 stations up until September 10, out of a guidance of between 1,800 and 2,000 — equivalent to about 27.1% of the target.
As of Tuesday, Nio has 3,494 battery swap stations installed in China, with over 27,142 charging piles.
