Nio Reports Increased Deliveries Of Its ES8 EV One Month After IPO

A month after Chinese electric startup Nio was listed on the New York Stock Exchange, the automaker has announced a significant increase in deliveries.

The company revealed on Monday that in the third quarter of 2018, it delivered 3,268 examples of the ES8 SUV, slightly more than the 2,900-3,000 being targeted by Nio. According to the firm, this positive result means it remains on track to achieve a delivery goal of 10,000 ES8s for the second half of the year, Reuters reports.

Deliveries for the Nio ES8 peaked last September 2018, when 1,766 units were handed over to customers, roughly 58 per cent more than in August.

At the time of Nio’s NYSE listing, the car manufacturer had delivered just 1,381 examples of the ES8 despite receiving more than 17,000 orders for the vehicle.

Nio had hoped to raise $1.8 billion by going public, but when trading started in mid-September, the carmaker was priced at $6.26 a share, just one cent above the bottom of its pricing range. Trading closed at $6.60 on the first day of trading, giving Nio a total market cap of $7.1 billion.

In the month since its September 11 listing, share prices of Nio jumped as high as $11.60 on September 13. At the time of writing, the company’s share price was $7.82.

While the company still has thousands of ES8 orders to fulfill, it is already thinking about its next model. In a statement, Nio said this model will take the shape of a 5-seater premium SUV dubbed the ES6 that will launch in June or July 2019.