NIO Impresses in the Second Quarter of 2024 with Record Numbers and Ambitious Future Plans

The published business results for the second quarter of 2024 have clearly demonstrated that NIO remains on a growth trajectory. With an impressive delivery volume of 57,373 units, a 143.9% increase, the company set a new quarterly record. Particularly in China, NIO achieved over 40% market share in BEVs with a transaction price exceeding RMB 300,000. The financial results of the quarter, presented by William Li and Stanley Qu, showed considerable improvements. The vehicle margin rose to 12.2%, and other revenues, especially from after-sales and energy services, grew steadily. This underscores the growing acceptance and trust in NIO's brands and services. A highlight was the introduction of the SkyOS operating system and the announcement of a new proprietary chip for intelligent driving, the Shenji NX9031. Additionally, the end-to-end AEB function, which surpasses traditional AEB performance by 6.7 times, was presented as an industry innovation. On September 19, the new brand family theme ONVO with the L60 model is expected. NIO's extensive infrastructure, including 2,561 battery swap stations and over 23,000 chargers, promotes market acceptance and confidence in the brand. Alongside expansion into the international market, particularly the UAE, NIO is also focusing on deeper penetration within China. Deliveries expected for Q3 2024 are between 61,000 and 63,000 units. With a clear focus on innovation and efficiency, NIO anticipates optimistic times ahead and strives for growth opportunities both locally and internationally.