Chinese electric vehicle (EV) maker Nio expects its first-quarter deliveries to increase four times from a year ago to 20,000-20,500 units.
According to the company’s annual earnings release, the carmaker doubled its sales in 2020 to 43,728 units from 20,565 units in 2019. In Q4 2020 too, sales doubled to 17,353 EVs from 8,224 cars in the same quarter of 2019.
The company’s net sales in the full year and fourth quarter of 2020 accounted for CNY15.2bn ($2.3bn) and CNY6bn, respectively, both up by more than 100pc over the prior year.
Nio posted a net loss of CNY5.3bn in 2020, compared to a net loss of CNY11.2bn in 2019. In Q4 2020, the company halved its net loss to CNY1.38bn, from CNY2.86 in the prior year’s quarter.