NIO (NYSE:NIO), the pre-eminent Chinese EV manufacturer, has maintained its extraordinary streak of outperformance, reporting a 100 percent-plus jump in fourth-quarter deliveries (on an annual basis), thereby exceeding its own delivery guidance.
NIO (NYSE: NIO) Delivered 7,007 EVs in December 2020
According to the press statement released on the weekend, NIO delivered 7,007 EVs in December 2020, including 2,493 units of the ES6 model, B units of the 2,009 units of the ES8 model, and 2,505 units of the EC6 model. The cumulative monthly delivery number marks an increase of 121 percent relative to the comparable month last year. As far as the entire fourth quarter is concerned, NIO delivered 17,253 EVS, corresponding to a growth of 111 percent relative to the comparable quarter last year. Bear in mind that NIO had guided to between 16,500 and 17,000 quarterly deliveries for Q4 2020. Cumulatively, the company delivered 43,728 vehicles in 2020.
The chart below illustrates NIO’s quarterly deliveries in 2020:
Moreover, the following chart gives a more granular view, segmented by NIO’s deliveries of each model in 2020:
(Note: The deliveries of the EC6 SUV only commenced in September 2020)
Of course, this development comes as the company is gearing up for the all-important NIO Day event, currently slated for the 09th of January 2021. As per numerous reports, the Chinese EV manufacturer will unveil its first sedan at the event. Moreover, the company may also unveil its 150-kWh battery pack at the event. As a refresher, NIO had removed the wraps from its 100-kWh battery pack earlier in November 2020. Purportedly built upon the intellectual property gleaned from 300 patents, this battery pack incorporated a highly integrated Cell to Pack (CTP) design, a dedicated cloud-based Battery Management System (BMS), and an all-weather temperature control system.
2020 has proven to be an exceptional year for the Chinese EV manufacturer. After all, NIO shares ended the year with gains of over 1,000 percent, rendering the stock one of the best investments of 2020. Additionally, 2021 may provide further capital appreciation opportunities for the company's investors. For instance, the company is planning to go beyond China and enter the European market in 2021. Moreover, NIO continues to ramp up production, with expectations of a monthly run rate of 25,000 units by the end of 2021 or early 2022.
The post NIO Beats Expectations as Its Deliveries in Q4 2020 Jump by 111 Percent by Rohail Saleem appeared first on Wccftech.
source https://wccftech.com/nio-beats-expectations-as-its-deliveries-in-q4-2020-jump-by-111-percent/
