In August, NIO Inc. (NIO) reported delivering 19,329 vehicles, marking an outstanding year-over-year growth rate of 81%. The electric vehicle (EV) manufacturer anticipates distributing approximately 55,000 to 57,000 vehicles in the third quarter, demonstrating a notable increase from the reported 31,607 EV units delivered during the same period in the previous year.
However, the financial health of the company has experienced turbulence. In the fiscal second quarter, NIO incurred losses of $835.10 million, more than double its losses in the same period the preceding year. Concurrently, its gross margin on vehicles for the quarter was 6.2%, down from 16.7% a year ago.
