NIO : the car manufacturer loses half a billion euros

Movo Team17 November 20221 Mins read345 0

In the third quarter of 2022, the Chinese brand lost more than half of a billion euros. To offset these losses, the brand plans to market 5 new electric vehicles.

It’s official, NIO, “much more than a car company” has lost an astronomical amount of money, yet their sales are increasing. Between July and September, the Chinese smart car brand delivered over 31,000 vehicles. Whereas three months earlier, it had not exceeded 25,000 deliveries. These recent sales have enabled the electric car manufacturer to obtain 13 billion yuan, or 1.78 billion euros. Up 32.6 % over the same period in 2021.

Despite these increases in sales, how did NIO lose so much money ? At the same time, their expenses increased significantly. This is more than 560 million euros invested in the manufacture of their “high performance” electric vehicles.

NIO and the ambitious future of electric cars

©NIO – one of their models, the ET7, a 56,500 euro SUV

However, the Chinese company is not discouraged. In the spotlight, the production of a new generation of electric cars. As a reminder, the manufacturer already has 6 different electric models. The ET5, ET7 and EL7 will arrive in Europe with 1000 kilometers of range and a five-minute charging system. As of next Monday (21 November), European countries will be able to buy these exceptional vehicles. NIO plans to sell 120 by 2023.

©Automobile Propre – l’ET5 on the left, ©Frandroid – l’ET7 in the middle ©ArenaEV – l’EL7 on the right

As a bonus, the brand also deploys its Nio Power Swap Station, allowing the famous recharge in 5 minutes.

New NIO electric cars

As you may have heard, 5 new 100 % electric models will be added to the existing six. If for the moment, no information has been revealed about them, according to the brand they will tip the scales, and NIO will no longer lose money thanks to them. This is an ambitious project, which we look forward to discovering.

This month, NIO has already delivered 10,059 cars, an increase of 174.3% over last year.

To remember : 

NIO, a Chinese electric car manufacturer lost half a billion euros in the last quarter of 2022 
But they delivered 31,000 vehicles between July and September. 
To compensate loss, they will manufacture 5 new electric vehicles