NIO ‘Very Confident’ it Will Meet 250,000 Sales Forecast This Year

Photo: NIO 

NIO CFO Steven Feng said the automaker is “very confident” it will reach its target to double sales this year with 250,000 electric vehicles (EVs), according to a report from Bloomberg on Wednesday.

Following the statement, NIO’s shares increased by as much as 8.6 percent in early trading hours in Hong Kong, marking a roughly 18 percent jump over the past two days.

“We are very confident to achieve our sales target in 2023,” Feng said to Bloomberg.

To reach that target, Feng also said NIO plans to share new models, expand the company’s battery-swapping and charging network, and unveil its autonomous driving features.

In 2022, NIO delivered 122,486 units, meaning the figure would more than double its sales year on year. The company’s sales last year increased 34 percent from the prior year, though the automaker still missed its original sales forecasts for 2022.

“We expect the industry to go through some profound consolidation,” Feng added. “It’s almost consensus that China now has too many automakers, but we have no plan to buy anyone.”

The news comes just a day after the automaker announced plans to open its first NIO House in the Netherlands on March 23, and to open as many as 1,000 new battery swap stations in China this year.