![]() ![]() So what is behind the rough patch? Well, Nio and its peers Xpeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) have struggled thanks to a few catalysts.Īs we reported last week, the Chinese National Development and Reform Commission is asking its regional branches for more information on local EV makers. Just yesterday, we saw shares close out lower by 6.4%. However, the November deliveries report follows a rough few days of trading. In fact, investors have bid NIO stock up more than 1,000% so far in 2020. With this in mind, the fact it is continually setting new delivery records is very promising. investors, it is important that the company is actually expanding its footprint in China and ramping up its production capacity. As Nio continues to gain legitimacy and appeal from U.S. In many ways, the appeal of the November deliveries report should be obvious. Why November Deliveries Matter for NIO Stock Growing production capacity was also a focus of its third-quarter earnings call. ![]() With this in mind, the company said in the press release that it will be expanding its production capacity for December to meet growing demand.After setting a new monthly record in October, Nio said that it has once again set a record for November 2020.Investors should note that deliveries of the new EC6 rose nearly 72% month-over-month from 883 deliveries in October 2020.Nio also delivered 1,387 ES8s and 1,518 EC6s.Deliveries of the ES6, its performance-focused electric SUV, lead the way in November.Since the company began delivering vehicles, it has reported 68,634 deliveries.Additionally, Nio released a cumulative delivery figure for its ES8, ES6 and EC6 models.Year to date, Nio has delivered 36,721 vehicles in 2020.The November figure is also up 4.7% from 5,055 vehicles in October 2020.Nio delivered 5,291 vehicles in November 2020, a 109.3% improvement year-over-year. ![]()
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