NIO Incorporated, a Chinese multinational automobile manufacturer headquartered in Shanghai, achieved a significant milestone by delivering more than 21,000 electric vehicles (EVs) in the month of June this year. According to available stats, the Chinese automaker delivered a total of 21,209 EVs last month, marking a jump of 98 per cent year-over-year. The impressive growth resulted in the shattering the company’s previous monthly sales record of 20,544 deliveries that was set in May 2024. After delivering more than twenty thousand electric cars for the second straight month, the Chinese brand broke not only its monthly but also quarterly records.

In the second quarter (Q2), the EV deliveries reached 57,373 units. This figure represents an increase of 143 per cent from the corresponding period of last year. The quarterly figure was also enough to outshine the previous record of 55,532 deliveries, which was set in Q3 of 2023. Even NIO was not expecting such robust sales. It had predicted that it would make 54,000 to 56,000 deliveries in Q2 of this year.

The impressive increase in deliveries of NIO vehicles was mainly because of rebounding automobile sales in China – the world’s largest car market. Launch of new models and pricing adjustments also played a role in pushing sales and deliveries up. After the launch of the new ET7 in the month of April this year, the brand updated its entire EV lineup, which includes the 2024 ET5, ET5T, ET7, ES6, EC7, and ES8. All of these models are based on the brand’s EV-dedicated NT 2.0 platform.

Just last month, NIO revealed its new low-cost Onvo L60, which starts at $30,500 (approx. 219,900 yuan). The Onvo L60 e-SUV is scheduled to launch in the Chinese market in the month of September, with deliveries kicking off this fall. This new e-SUV will likely help a lot in boosting sales even further.

It is worth-mentioning here that Onvo is the company’s first mass-market sub-brand that aims to snatch market share from rivals like Tesla, Toyota and Volkswagen.

By setting new monthly and quarterly records, NIO reflected its rapid growth and expansion in the fast-evolving electric car market. Despite various challenges, such as higher tariffs in the Europe and America, NIO’s innovative strategies and expanding lineup of electric models promise continued momentum. With the introduction of new models, the brand positions itself as a formidable force in the global EV landscape.