NIO’s Q1 EV delivery beats its own expected range

Sales this year might dip though, because of policy changes that cut EV car subsidies.

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NIO’s Q1 EV delivery beats its own expected range

Chinese electric vehicle maker NIO announced that it delivered 3,989 ES8 SUVs in the first three months of this year, slightly outperforming the 3,500-3,800 units guidance range the company’s management gave to analysts on the company’s latest earnings call.

But in the earnings call, NIO said it expects deliveries in the second quarter to weaken as “we await the result of the 2019 EV subsidy policy in China and improvements in the macroeconomic conditions.”

The company adjusted its pricing following a policy change that slashes EV subsidies, as KrAsia reported last week. The new policy is making its models more expensive for consumers this year, compared with last year.

Editor: Nadine Freischlad