NIO Inc. Feb. deliveries 20,797, -23% MoM

NIO Inc. Feb. deliveries 20,797, -23% MoM

NIO Inc. Reports February 2023 Vehicle Deliveries of 12,157 Units, Reflecting 42.9% Month-on-Month Growth

NIO Inc. (NYSE: NIO) announced that it delivered 12,157 vehicles in February 2023, representing a 42.9% increase from January's 8,506 units and a 98.3% year-on-year rise compared to February 2022. The delivery mix included 5,037 premium smart electric SUVs and 7,120 premium smart electric sedans. Cumulative deliveries from January to February 2023 totaled 20,663 vehicles, marking a 30.9% year-on-year increase.

The company has delivered 310,219 vehicles since the start of its operations. NIO also outlined plans to expand its battery swap infrastructure, announcing 1,000 new stations to be built in China in 2023, bringing the total to over 2,300. Of these, 600 stations will target underserved tier-3 and tier-4 cities.

NIO is transitioning its NT 1.0 platform models (e.g., ES8, ES6) to the NT 2.0 platform (e.g., ES7, ET7, ET5) to enhance cockpit experience and autonomous driving capabilities. In February, the company clarified reports of significant discounts on NT 1.0 models, stating that limited inventory reductions and subsidies were part of a structured purchase program.

Additionally, NIO has expanded its battery development team to 1,000 members and is advancing proprietary lithium manganese iron phosphate (LMFP) and 46-series ternary battery technologies.

While the company addressed rumors of discontinuing NT 1.0 models, it confirmed planned phase-outs of older models as part of its strategic transition.

This article relies on data from NIO's official announcements and third-party reporting as of February 2023.