NIO Races Ahead: November Deliveries Soar 12.6% To 15,959 EVs

NIO Inc. NIO says it delivered 15,959 vehicles in November 2023, increasing by 12.6% year over year.

The deliveries consisted of 10,545 premium smart electric SUVs, and 5,414 premium smart electric sedans.

The company said it delivered 142,026 vehicles year-to-date in 2023, increasing by 33.1% year over year.

Cumulative deliveries of NIO vehicles reached 431,582 as of November 30, 2023.

Last month, the company collaborated with Chongqing Changan Automobile Co. to develop and enhance battery-swapping technology.

Nio launched its "battery-as-a-service" program in 2020, allowing customers to purchase a Nio car without the battery, thereby reducing upfront costs, and paying a rental fee for the battery instead.

Nio aimed to establish 1,000 battery swapping stations by the end of the year, exceeding its initial target of 400 stations.

Currently, the company operates over 2,000 swap stations across China and is looking to expand this service into European markets.

Read Next: XPeng Unstoppable: 10 Months Of Consistent Growth Culminates In Over 20K Vehicles Delivered In November

Price Action: NIO shares are trading lower by 0.41% to $7.24 premarket on the last check Friday.

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