In the third quarter of 2022, NIO Inc. continues to demonstrate resilient growth in a challenging market, achieving a record delivery of 31,607 smart electric vehicles (SEVs), marking a 29.3% increase year-over-year. While the company reported a revenue of CNY 13.0 billion, an increase of 32.6% year-over-year, it faced significant operational losses amounting to CNY 4.1 billion, underscoring the pressures of rising costs, particularly in battery materials and ongoing supply chain constraints. Management remains optimistic about upcoming models and expansion in European markets, indicating a potential turnaround in the near future, with guidance of 43,000 to 48,000 vehicle deliveries in Q4 2022 and a strategic focus on both quality and innovation.