NIO Inc. reported its fourth quarter 2021 financial results after the market close on Wall Street on Thursday.
The Chinese electric vehicle maker reported revenue of $1.558 billion (49.1% increase year-over-year) that was above analyst forecast of $1.537 billion.
NIO reported higher than expected loss per share in the fourth quarter of -$0.17 per share vs. estimate of -$0.15 loss per share.
The company delivered a total of 25,034 vehicles in Q4 2021 (44.3% increase from Q4 2020) and 91,429 in total last year.
William Bin Li, founder, chairman and CEO of the EV company commented on NIO’s performance in 2021 following the latest financial results: ”We concluded the year of 2021 on a strong note with an annual delivery of 91,429 vehicles in total, representing an increase of 109.1% year-over-year, despite all the challenges including the supply chain volatilities in particular. In light of the seasonality and the Chinese New Year holiday, NIO delivered 9,652 vehicles in January and 6,131 vehicles in February, representing a growth of 34% and 10% year-over-year, respectively. We expect to deliver a total of 25,000 to 26,000 vehicles in the first quarter of 2022.”
Li also outlined NIO’s plan for the year ahead for the company: ”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 kicked off 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 great feedback from prospective users, and expect 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.”
NIO Inc. chart
The stock price was little changed at the end of trading day on Thursday, up by 0.50% at $21.95 per share.
Here is how the stock has performed in the past year –
NIO is the 14th largest automaker in the world with a market cap of $36.68 billion.
You can trade NIO Inc. (NIO) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: NIO Inc., TradingView, CompaniesMarketCap
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.
Proud Partner of Chelsea Football ClubFind out more