Zinger Key Points
- NIO's February deliveries decline by 33.1% YoY, but shares rise in premarket trading.
- Cumulative deliveries of NIO vehicles reached 467,781 as of February 29, 2024.
NIO Inc. NIO shares are trading higher in the premarket session on Friday.
NIO delivered 8,132 vehicles in February 2024, consisting of 4,765 premium smart electric SUVs, and 3,367 premium smart electric sedans.
February deliveries for the Chinese EV company slumped 33.1% on a year-over-year basis.
Cumulative deliveries of NIO vehicles reached 467,781 as of February 29, 2024.
The company recently entered into a technology license agreement with CYVN Holdings subsidiary Forseven Limited.
The company will grant a worldwide license to Forseven to use some of Nio's technical information and solutions, software and intellectual property rights related to its smart electric vehicle platforms.
Nio is scheduled to report fourth-quarter financial results before the market open on March 5. The company is expected to report a loss of 51 cents per share.
Last quarter, Nio beat EPS estimates, but missed analyst expectations on the top line.
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Price Action: NIO shares are trading higher by 1.57% to $5.84 premarket on the last check Friday.
Photo by T. Schneider on Shutterstock
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