Key achievements last year
In last year’s third quarter, NIO guided for fourth-quarter car deliveries of 6,700–7,000 units. By delivering 7,980 cars last quarter, the company exceeded the upper range of its guidance by 14.0%. In the third quarter, NIO delivered 3,268 units.
The Chinese automaker currently produces just one vehicle, the ES8—an SUV (sports utility vehicle), like Tesla’s (TSLA) Model X. NIO launched the ES8, its first mass-production electric vehicle, in December 2017, and began its deliveries last June. The company delivered 11,348 ES8s last year, beating its guidance of 10,000 vehicles by 13.4%.
On NIO Day in Shanghai on December 15, NIO launched its second mass-market electric car, the ES6. The ES6 is a five-seater SUV, whereas the ES8 is a seven-seater. The company claims the ES6 base model delivers ~255 miles from a single charge, and the high-end variant delivers ~317 miles.
Standard versions of NIO’s ES6 start at 358,000 Chinese yuan (or ~$51,900) and performance versions start at 398,000 yuan (or ~$57,700). The company has started taking orders for ES6s and expected deliveries to start this June. As the company now needs to focus on mass-producing two vehicles, this year could be more challenging, though last year’s strong ES8 production paints a positive picture.