Delivered 837 vehicles in July 2019, consisting of 673 ES6s and 164 ES8s
Cumulative deliveries of ES8 and ES6 reached 19,727
SHANGHAI, China, Aug. 12, 2019 (GLOBE NEWSWIRE) -- NIO Inc. ("NIO" or the "Company") (NYSE:NIO), a pioneer in China's premium electric vehicle market, today provided its July 2019 delivery results.
NIO delivered 837 vehicles in July, consisting of 673 ES6s, the Company's 5-searter high-performance premium electric SUV, and 164 ES8s, the Company's 7-seater high-performance premium electric SUV and its 6-seater variant. As of July 31, 2019, aggregate deliveries of the Company's ES8 and ES6 reached 19,727 vehicles, of which 8,379 vehicles were delivered in 2019.
"Our deliveries in July were negatively impacted by multiple factors," said William Li, founder, chairman and chief executive officer of NIO. "In July we completed our voluntary battery recall for 4,803 ES8s. During the month, we prioritized battery manufacturing capacity for this effort, which significantly affected our production and delivery results. In addition, some deliveries were pushed forward into June in anticipation of further electric vehicle subsidy reductions that took effect at the end of June. Lastly, China's macroeconomic and auto market conditions remained challenging, exacerbated by the US-China trade conflict and the decline in passenger vehicle sales on a year over year basis for 13 of the past 14 months."
"On the positive side, we completed the ES8 battery recall in approximately half the time compared to our original timeline. Having taken swift and transparent actions throughout the recall process, we are happy to report that we see users' confidence in the safety and quality of our vehicles quickly returning. Looking ahead, with battery capacity allocation back to normal, we will accelerate deliveries and make up for the delivery loss impacted by the recall. We expect August to be a much stronger month, and target to deliver between 2,000 and 2,500 vehicles," Mr. Li concluded.
About NIO Inc.
NIO Inc. is a pioneer in China's premium electric vehicle market. Founded in November 2014, NIO's mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next generation technologies in connectivity, autonomous driving and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater high-performance premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as NIO's strategic and operational plans, contain forward-looking statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO's strategies; NIO's future business development, financial condition and results of operations; NIO's ability to develop and manufacture a car of sufficient quality and appeal to customers on schedule and on a large scale; its ability to grow manufacturing in collaboration with partners; its ability to provide convenient charging solutions to our customers; its ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in our vehicles; its ability to secure sufficient reservations and sales of the ES8 and ES6; its ability to control costs associated with our operations; its ability to build our NIO brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO's filings with the SEC. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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