Chinese EV maker Nio said it delivered 21,896 vehicles in the second quarter, a 112% increase from the second quarter of 2020.
Nio Inc. late Wednesday reported a narrower-than-expected quarterly loss, saying that it expects higher revenue in the current quarter thanks to higher demand for its cars as it smooths out its supply chain.
Adjusted for one-time items, including expenses with stock-based compensation, Nio lost 3 cents per ADR. Revenue rose 127% to $1.31 billion in the quarter.FactSet consensus called for a loss of 9 cents per ADR on sales of $1.3 billion for the EV maker. “While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply-chain production capacity,” founder and Chief Executive William Bin Li said in a statement.
The Chinese EV maker said it delivered 21,896 vehicles in the second quarter, a 112% increase from the second quarter of 2020 and a 9.2% rise from the first quarter of 2021. The second-quarter deliveries were a record for the company, it said.
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