Nio Inc. (NYSE:NIO) shares declined on Wednesday as the company unveiled a new limited-edition SUV plan.
The rollout aims to boost demand in a competitive EV market.
The company’s sub-brand Onvo unveiled the L60 Black Knight Edition, a special-edition midsize SUV limited to 666 units, with deliveries starting Dec. 5.
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The release continues Onvo’s push to drive sales with exclusive, high-visibility models, CnEV Post reports.
Recent Developments
Earlier this month, Nio reported delivering 36,275 vehicles in November, a 76.3% year-over-year increase, with 18,393 from its main brand, 11,794 from Onvo, and 6,088 from the sub-brand Firefly.
The company has now delivered 277,893 vehicles year-to-date and 949,457 units in total as of the end of November.
Third-quarter revenue came in at $3.06 billion, missing the $3.26 billion estimate, although its loss of 15 cents per share was better than expectations for a 24-cent loss.
Recently, the firm announced its Thailand debut through a new market partnership with Thonburi Group.
The move marks another step in Nio’s Southeast Asia strategy, with Onvo and Firefly slated to enter the Thailand market via its Thonburi partnership, as cited by local media.
The partner operates one of Southeast Asia’s most established Mercedes-Benz assembly facilities through its automotive arm.
Price Action: NIO shares are trading lower by 3.78% to $4.835 at last check Wednesday.
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