Chinese EV Maker Nio Sets Delivery Record, Cuts Losses
NIO(NIO) Investopedia·2024-09-05 22:35
Key TakeawaysNio cut its losses as it set a record for vehicle deliveries in the second quarter.The Chinese EV maker's deliveries jumped 143.9% year-over-year, and vehicle sales surged 118.2%.Nio also gave a current-quarter revenue forecast that exceeded forecasts. American depositary receipts (ADRs) of Nio (NIO) advanced Thursday as the Chinese electric vehicle (EV) maker reduced its losses and gave strong guidance as it set a record for deliveries. Nio posted a second-quarter loss of 5.05 billion yuan ($6 ...