NIO Inc reported a strong performance for the second quarter of 2024, showcasing significant growth across key financial metrics. Revenue reached RMB 17.4 billion, representing a staggering 98.9% increase year-over-year and a 76.1% rise quarter-over-quarter. The company achieved a record delivery of 57,373 vehicles in Q2, marking a remarkable 143.9% growth from the same period last year.
Management emphasized continuous optimization of their product mix and operational efficiencies resulting in an improved vehicle margin of 12.2% compared to 6.2% in Q2 2023. With the launch of innovative technologies and service initiatives, NIO is positioned to further enhance its competitive edge in the expanding battery electric vehicle (BEV) market.