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In June 2024, NIO reached significant milestones with record vehicle deliveries, strategic partnerships, and advancements in their power infrastructure. Highlights include remarkable growth in deliveries, new NIO Houses, and expanded power swap stations, as well as new collaborations with FAW Hongqi and GAC Energy. Additionally, NIO launched the fourth generation of its power swap stations and introduced a new quality system.
Key Highlights:
- Record Deliveries: 21,209 vehicles delivered in June, a 98.1% year-over-year increase.
- New NIO Houses: 2 new houses opened globally.
- Expanded Infrastructure: 41 new power swap and charging stations.
- Strategic Partnerships: Collaborations with FAW Hongqi and GAC Energy.
- Power Swap Station 4.0: New generation supports automated battery swaps for multiple brands.
- Quality System: Introduction of the All-Time Quality system.
- JD Power Rankings: NIO ES8, ET5, and ET5T ranked first in their segments.
Record Vehicle Deliveries NIO achieved a remarkable milestone in June 2024 by delivering 21,209 vehicles, marking a 98.1% increase year-over-year. The second quarter of 2024 saw NIO delivering 57,373 vehicles, a 143.9% year-over-year increase. From January to June 2024, NIO delivered 87,426 vehicles, representing a 60.2% increase year-over-year. By June 30, 2024, cumulative deliveries reached 537,020 vehicles.
Infrastructure Expansion In June, NIO expanded its global presence by opening 2 new NIO Houses and adding 41 new power swap and charging stations. This includes 12 Power Swap Stations and 29 charging stations. By the end of June, NIO operated 155 NIO Houses worldwide, 2,482 Power Swap Stations, and 3,910 Power Charger Stations. They also connected to over 1,650,000 third-party chargers. NIO’s power swap services have been used more than 47 million times.
Strategic Collaborations NIO entered into strategic collaborations to enhance charging infrastructure. On June 24, NIO Power partnered with FAW Hongqi to provide Hongqi users with access to NIO’s expansive charging network. Similarly, on June 7, NIO Power and GAC Energy opened their charging facilities to each other, aiming to provide convenient and comprehensive charging services.
Innovative Power Swap Station 4.0 On June 13, NIO launched the first batch of Power Swap Station 4.0, which supports automated battery swaps for multiple brands and vehicle models, enhancing the battery swapping experience.
Introduction of All-Time Quality System On June 26, NIO introduced the All-Time Quality (ATQ) system at the NIO Quality Tour in Hefei, Anhui. This user-centric system prioritizes customer satisfaction and quality.
Industry Recognition In the 2024 China New Energy Vehicle-Initial Quality Study by J.D. Power, NIO’s ES8, ET5, and ET5T ranked first in their respective segments.
Intelligent Connected Vehicle Pilot Program On June 4, NIO was selected for China’s ICV (Intelligent Connected Vehicle) pilot program, enabling road access and testing.
Milestone in Autonomous Driving NIO users surpassed 1 billion kilometers driven with Navigate on Pilot (NOP) and Navigate on Pilot Plus (NOP+), the first function in China to achieve this milestone.
Financial Performance For the first quarter of 2024, NIO reported:
- Total revenues: RMB9,908.6 million (US$1,372.3 million)
- Vehicle margin: 9.2%
- Cash and equivalents: RMB45.3 billion (US$6.3 billion)
- R&D expenses: RMB2,864.2 million (US$396.7 million)
Sustainability Efforts On June 25, NIO released its 2023 Environmental, Social and Governance (ESG) Report, highlighting achievements in sustainable development, superior products, value chain sustainability, employee care, and charitable actions.
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