NIO Inc. NIO shares are trading lower in the premarket session on Tuesday.
On Monday, the company said it delivered 18,012 vehicles in December 2023, increasing by 13.9% year-over-year.
Cumulative deliveries of NIO vehicles reached 449,594 as of December 31, 2023.
The company also launched the ET9, a smart electric executive flagship, at NIO Day 2023. The ET9 embodies NIO's latest advancements in technological research and development, presenting a combination of flagship-style exterior, executive space, leading driving and riding experience, intelligent technologies, efficient power solutions, and comprehensive safety standards.
Deliveries of the ET9 is expected to start in the first quarter of 2025.
On December 18, NIO inked the subscription pact with CYVN Holdings, pursuant to which CYVN Investments subscribed to 294 million shares.
With the equity investment amounting to $2.2 billion, CYVN now holds an approximate 20.1% ownership stake.
"With the enhanced balance sheet, NIO is well prepared to sharpen brand positioning, bolster sales and service capabilities, and make a long-term investment in core technologies to navigate the intensifying competitive landscape," said William Bin Li, founder, chairman, and chief executive officer of NIO, in the December 18 statement.
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Price Action: NIO shares are trading lower by 2.76% to $8.82 premarket on the last check Tuesday.
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