NIO announced the insurance data for June, ES6, the pure electric SUV, won the championship for 10 consecutive months in the subdivision model, and ES8 exceeded 1,000 insured vehicles again.
Specific data:
- NIO brand insured vehicles for June totaled 3,720, a MoM growth of 10%; The Q2 exceeded 10,000 units, reaching 10,229 with a MoM growth of 168%;
- In May, 1,256 units of NIO’s ES8 were insured, a MoM increase of 73%, returned to the top ten SUVs over CNY 4 million;
- In May, 2,464 units of NIO’s ES6 were insured, ranking 8th in the top ten medium-sized SUVs over CNY 3 million;
- ES6 won the sales championship of China’s electric SUV for ten consecutive months.
Recently, NIO has been receiving good news. Since the Hefei government invested about CNY 7 billion in NIO, NIO has solved its short-term cash flow problems. After the market’s recovery after the pandemic, NIO has also opened up new sales opportunities.
With the government’s investment as a backing, NIO has regained the purchasing confidence of potential consumers.
Recently, NIO also obtained a comprehensive credit line of CNY 10.4 billion from six major banks. That is to say, if the investment from Hefei solved the imminent problem of NIO’s products, then the comprehensive credit line from the six major banks is the best guarantee for NIO to strengthen its own service system construction, especially the entire NIO Power system.
NIO may have a big move in BaaS (Battery as a Service).
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.