NIO reduced its net loss to $629 million in 2021 – Pandaily

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NIO Inc., a major player in China’s smart electric vehicle marketon Thursday announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2021.

NIO listed in Hong Kong delivered 25,034 vehicles in the fourth quarter of 2021, including 5,683 ES8, 12,180 ES6 and 7,171 EC6, an increase of 44.3% compared to the fourth quarter of 2020 and an increase of 2.4% compared to the third quarter 2021. Its vehicle deliveries totaled 91,429 in 2021, an increase of 109.1% compared to 2020.

NIOTotal revenue was 9.9 billion yuan ($1.55 billion) in the fourth quarter of 2021, an increase of 49.1% from the fourth quarter of 2020. Its vehicle sales were 9. 22 billion yuan in the fourth quarter of 2021, an increase of 49.3%. % from year to year.

The electric vehicle maker’s gross profit was 1.7 billion yuan in the fourth quarter of 2021, a year-on-year increase of 48.8 percent. However, its net loss was 2.14 billion yuan in the quarter, while the net loss attributable to NIOCommon shareholders were 2.18 billion.

In terms of company vehicle sales last year, NIO raised 33.17 billion yuan ($5.2 billion), an increase of 118.5% over the previous year.

Its total revenue was 36.14 billion yuan for the year 2021, an increase of 122.3% over the previous year. Gross profit was 6.82 billion yuan in 2021, up 264.1% year-on-year, while net loss was 4.02 billion yuan, down 24.3% year-on-year annual.

In addition to last year’s data, NIO unveiled new developments earlier this year. Combined deliveries of the ES8, ES6 and EC6 were 9,652 vehicles in January 2022 and 6,131 vehicles in February 2022, an increase of 33.6% and 9.9% year-over-year, respectively. As of February 28, 2022, cumulative deliveries of the ES8, ES6 and EC6 have reached 182,853 vehicles.

On March 16, 2022, NIO has appointed Long Yu, independent director, as a new member of the audit committee, effective today.

SEE ALSO: NIO’s ET7 rolls off the mass production line

“We expect to deliver a total of 25,000 to 26,000 vehicles in the first quarter of 2022,” said William Li, Founder, Chairman and CEO of NIO.. “2022 will be a year of reacceleration for NIO. We will deliver three new products based on NIO Technology platform 2.0 this year. In March, we launched the test drive of ET7 and will start its delivery on March 28, 2022. After the launch of ET5 in December 2021, we have received excellent feedback from potential users and plan to start its delivery in September 2022. In addition, we plan to offer our products and services in more countries and regions in 2022 to further expand our global user community.

Ann J. Cox