Electric Carmaker Nio Quadruples Deliveries In January

Nio ET7

Nio, the Chinese maker of electric cars, has posted its sales figures for the month of January 2021, revealing that it delivered 7,225 vehicles in the month, about quadruple what it delivered in the same month last year. Nio sold 352% more vehicles in January 2021 than it did in January 2020, indicating very strong growth prospects for the company.

During the month, Nio delivered 1,660 ES8 SUVs, 2,720 ES6s, and 2,845 EC6s. The company has now delivered a total of 82,866 vehicles since its start.

For now, Nio only offers electric SUVs, even though that wouldn’t stay the same for much longer as the company recently unveiled its first electric sedan, the ET7 (pictured above). The new sedan is expected to enter into production next year.

As Nio’s business has grown, that growth has reflected very well in the company’s affairs on the stock market. In 2020, the company’s share price rose by over 1,000%, an unprecedented rise by normal standards, and Nio didn’t just sit there and watch its share price rise but smartly capitalized on it to raise new funds. It raised $3.1 billion from investors to fund its operations just in December.

Thanks to its unprecedented rise, Nio now commands a market cap of roughly $90 billion, not bad for an automaker that’s only six-years-old.

Photo credit(s): Nio

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