Electric vehicle startup Nio’s third-quarter deliveries jumped 35 percent to 4,799, exceeding the company’s expectations.
Driving the growth was the company’s second product, the five-seat Nio ES6 crossover, which went on sale in June.
In the third quarter, 4,196 ES6s were delivered. Nio’s first product, the seven-seater SUV ES8, which was launched a year earlier, generated sales volume of 603 in the period.
In September, Nio booked sales of 2,019 vehicles: 1,726 ES6s and 293 ES8s. The tally boosted the company’s cumulative sales in the first nine months to 12,341.
The better-than-expected third-quarter sales provide some relief for the EV startup as it grapples with mounting losses.
The red ink surged 83 percent to approach 3.3 billion yuan ($462 million) in the second quarter, Nio said last month when it hatched plans to shrink payrolls to around 7,800 by the end of the third quarter, down from more than 9,900 in January.
Nio was incorporated in Shanghai in November 2014. It launched an IPO on the New York Stock Exchange in September 2018.