Market Overview

Nio Says Sales Pressured By Coronavirus, Stock Trades Lower

Nio Says Sales Pressured By Coronavirus, Stock Trades Lower

Chinese electric vehicle maker Nio Inc - ADR (NYSE: NIO) reported January deliveries of 1,598 units on Monday and said the outbreak of the novel coronavirus first identified in Wuhan, China has affected sales results.

Cumulative deliveries of the ES8 and ES6 have reached 33,511, according to Nio.

“We achieved satisfactory results in January despite the outbreak of novel coronavirus,” William Bin Li, founder, chairman CEO of Nio, said in a statement.

“During this period, the safety of our employees and users remains our top priority. I would like to thank our users and employees for their great support for the impacted society. Additionally, the NIO User Trust has decided to donate RMB5 million ($716,000) to support the well-being of NIO users and others in need during the epidemic, demonstrating love and care for our user community and the general public."

The stock was trading down 3.94% at $3.66 in Monday's premarket session.

Related Links:

Chinese Auto Sales Are Under Pressure

Nio Trades Higher On August Vehicle Delivery Numbers

Photo courtesy of Nio.

Posted-In: China coronavirus electric vehicles EVsNews Best of Benzinga


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