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NIO November Electric Car Deliveries Hit New Record

NIO  (NIO) – Get Report traded higher Tuesday after the Shanghai-based company said it hit a new monthly record for deliveries of its electric vehicles in November.

NIO’s American depositary receipts trading in New York rose more than 4% on Tuesday after the electric carmaker said it delivered 5,291 vehicles in November, up from 5,055 vehicles in October and more than double what it churned out last November.

The deliveries consisted of 1,387 ES8s, the company’s six-seater and seven-seater smart electric SUV; 2,386 ES6s, the company’s five-seater smart electric SUV; and 1,518 EC6s, the company’s five-seater premium electric coupe SUV. Year over year, deliveries have risen more than 109%, NIO said.

Demand for NIO’s all-electric SUVs continue to attract buyers in China, a sign that Chinese consumers are not only back to spending on big-ticket items like cars following the coronavirus pandemic but that the Chinese economy is also on a recovery path.

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