SUV of NIO: the ES8 increases its expected deliveries

The Chinese electric vehicle manufacturer has recorded an increase in deliveries of its first SUV, the ES8, since its stock market debut in September.

NIO, the Asian electric vehicle brand, announced to the press a significant increase in deliveries of the seven-seat ES8. After beginning trading on the New York Stock Exchange, the company had already recorded a total of 17,000 orders. Despite receiving that number of orders, NIO had delivered only about 1,400 cars before entering the stock market.

Forecasts improve for NIO

During the third quarter of 2018, NIO delivered about 3,300 vehicles. However, the target set by the Chinese manufacturer for this period ranged between 2,900 and 3,000 units. According to Reuters, the Chinese brand maintains its target of delivering 10,000 vehicles in the second half of this year.

As NIO explained, deliveries rose in September by 58% compared with August, with ES8 deliveries totalling 1,766 units. The company also still has orders to fulfil for its vehicle for the rest of the year.

Its listing on the New York Stock Exchange allowed the manufacturer to achieve a market capitalisation of close to $7.1 billion on its first day, far exceeding the expected target of $1.8 billion. Its highest share price was reached two days after going public, at $11.60, with its value rising 85% in just 48 hours.

Despite still being in the process of delivering the NIO ES8, the Chinese brand is already planning the launch of its new model on the market. According to the company itself, the next vehicle will be a five-seat premium SUV called the ES6, whose launch is expected between June and July 2019.