NIO Hits Production Milestone of 200,000 Electric Vehicles

Deutsche Bank called NIO the top electric vehicle (EV) maker in China in 2022 earlier this year, and the automaker surpassed an important milestone earlier this week.

NIO’s 200,000th mass production vehicle rolled off the production line on Tuesday, according to a post from @42how_.

The news was celebrated inside NIO’s factory with a banner above the production line, which details the accomplishment.

Last April, NIO reached a milestone of its 100,000th production vehicle and was congratulated by Tesla’s Elon Musk.

NIO delivered 25,768 vehicles in Q1 2022, representing a 29-percent increase year-over-year.

In Q4 2021, NIO delivered 25,034 cars, marking a 44-percent increase year-over-oyear.

Earlier this month, NIO was forced to suspend production at its factory due to a surge in COVID-19 cases and China’s strict COVID-zero lockdown policy.

NIO also said earlier this month that price increases are coming as soon as May 10, due to rising raw material costs.

NIO also  unveiled its ET7 sedan late last month, with early deliveries going out earlier this month.

Last month, investor Cathie Wood of Ark Invest trimmed Tesla shares and bought 420,000 shares in NIO.

Additionally, NIO has discussed licensing its unique battery swap technology to other automakers, according to a statement from an executive of the automaker.