Nio has presented its financial figures for the third quarter of 2022. The Chinese manufacturer delivered 31,607 electric cars from July to September, up from 25,059 in the second quarter of 2022. In a related call, the startup also announced plans to release five new models by summer 2023.
Nio’s total revenue in the third quarter of 2022 was 13 billion yuan (about 1.78 billion euros), up 32.6 per cent from the third quarter of 2021 and up 26.3 per cent from the second quarter of 2022. At the same time, however, expenses increased, causing Nio to accumulate a net loss of about 4.1 billion yuan (about 560 million euros) between July and September. That is 392 per cent more than in the same quarter last year and 49.1 per cent more than in the second quarter of 2022.
Founder and CEO William Bin Li highlights that Q3/2022 “represents a new quarterly record in terms of sales”. He added: “Following the delivery of our new product lineup based on NIO Technology 2.0 catering to different market segments, we have witnessed strong growth momentum in user demand and robust foot traffic, especially after the debut of ET5s in stores from September, and expect the ET5 delivery will support a substantial acceleration of our overall revenue growth in the fourth quarter of 2022.”
For October, Nio already reports 10,059 vehicles delivered, up 174.3 per cent year-on-year. As of 31 October 2022, cumulative deliveries reached 259,563 vehicles, according to the company.
During an earnings call on its Q3 financials, Nio also announced plans to launch five new models in the first half of 2023, taking its line-up to eight. The company also hopes to break even in its core business in the fourth quarter of 2023.
In early October, Nio had famously celebrated and announced its European launch with the trio ET7, EL7 and ET5. While it was initially said that the electric models would only be offered via the ‘Nio Subscription’, there will now also be a purchase option. The annual report states: “(…) ET7, EL7 and ET5 will gradually be made available to users via the Nio subscription, leasing programmes and direct sales”.
ir.nio.com, cnevpost.com (earnings call)
Keyword: Nio aims to launch 5 new BEVs by 2023