Nio just released its third quarter financial report for 2023. Nio’s third quarter revenue was 19.07 billion yuan, an increase of 117.4% compared to the previous quarter and 46.6% year-on-year, reaching a new historical high.
The gross profit margin of the vehicle is 11.0%, a significant increase from the previous quarter; cash reserves amount to 45.2 billion yuan, an increase of 13.7 billion yuan from the previous quarter; the net loss has narrowed significantly, decreasing by 24.8% from the previous quarter; research and development expenditures reached 30.4 billion yuan, surpassing 30 billion yuan for four consecutive quarters. In terms of deliveries, the third-quarter delivery volume was 55,432 units, an increase of 135.7% from the previous quarter and 75.4% year-on-year, reaching a historical high; as for the recently announced November delivery data, a total of 15,959 new vehicles were delivered, a 12.6% year-on-year increase. So far, NIO has delivered a total of 431,582 new vehicles.
On December 4, the credit information management system of the Ministry of Industry and Information Technology showed that the production address of the company is located at 299 Baita Road, Economic and Technological Development Zone, Hefei City, Anhui Province, with Qin Lihong as the legal representative. In addition, on November 21 and 29, NIO, Changan Automobile, and Geely Holding signed battery swapping cooperation agreements. In the future, NIO will continue to promote battery swapping cooperation with other car companies. It can be said that NIO’s year-end actions are still very significant, especially after obtaining the qualification for independent car manufacturing, which is even more beneficial for the brand’s development.