NIO Inc. announces delivery of 837 vehicles in July
NIO delivered 837 vehicles in July, consisting of 673 ES6s, the company's 5-searter high-performance premium electric SUV, and 164 ES8s, the company's 7-seater high-performance premium electric SUV and its 6-seater variant. As of July 31, 2019, aggregate deliveries of the company's ES8 and ES6 reached 19,727 vehicles, of which 8,379 vehicles were delivered in 2019. "Our deliveries in July were negatively impacted by multiple factors," said William Li, founder, chairman and CEO of NIO. "In July we completed our voluntary battery recall for 4,803 ES8s. During the month, we prioritized battery manufacturing capacity for this effort, which significantly affected our production and delivery results. In addition, some deliveries were pushed forward into June in anticipation of further electric vehicle subsidy reductions that took effect at the end of June. Lastly, China's macroeconomic and auto market conditions remained challenging, exacerbated by the US-China trade conflict and the decline in passenger vehicle sales on a year over year basis for 13 of the past 14 months."