Nio delivered 4,799 vehicles in the third quarter, a 35.1% surge in sales and a positive development for the Chinese electric automaker that has been plagued by cost overruns, a voluntary battery recall and macroeconomic conditions such as declining passenger vehicle sales and reduced EV subsidies.
The company said Tuesday it also exceeded the middle point of its guidance range by 499 vehicles, or 11.6%.
The deliveries sent Nio shares up more than 9%. However, Nio shares, which were trading at $1.69 on Tuesday prior to the market close, are still down some 49% from just a month ago.
In the third quarter, Nio delivered 4,196 of its 5-seater ES6 SUV and 603 of the ES8, its more expensive 7-seater premium electric SUV. As of