Chinese electric vehicle (EV) manufacturer NIO Inc. on Thursday announced its financial results for the fourth quarter and full-year ended December 31, 2021.
NIO delivered 25,034 all-electric cars across its product lineup (5,683 ES8s, 12,180 ES6s, and 7,171 EC6s) during Q4 2021, representing 44.3% growth in sales year over year (YoY) and an increase of 2.4% from Q3 2021.
For the full year ended December 31, 2021, NIO delivered a total of 91,429 EVs, up 109.1% YoY from 2020.
Despite healthy gains in sales YoY, NIO fell short of market estimates as it (and much of the global EV industry as a whole) fended off supply chain pressures throughout the year. The Chinese EV maker posted a net loss of 2.14 billion yuan ($336.4 million) for Q4 2021, falling short of analyst estimates of 1.51 billion yuan. Quarterly revenue was 9.9 billion yuan ($1.556 billion), up 49.1% from Q4 2020.
Annual revenue rose 122.3% YoY to 36.12 billion yuan ($5.67 billion) in 2021. NIO reported a net loss of 4.02 billion yuan (US$630.3 million) for the full year of 2021, down 24.3% from 2020, with a vehicle margin of 20.1%, compared to 12.7% for the previous year.
Sales of new-energy vehicles across all brands in China surged almost 170% during 2021, according to the China Passenger Car Association (CPCA). The industry group is seeing supply chain bottlenecks ease up and has, therefore, increased its sales forecast for 2022 to 5.5 million units from a previous estimate of 4.8 million.
Late last month, NIO received preliminary approval to start trading in the Hong Kong Stock Exchange with a secondary listing. The company is also seeking a secondary listing in Singapore.
NIO is expected to unveil its ES7 SUV in April, with a delivery target for the all-electric 5-seater pegged for sometime later this year.
