What's New with NIO in March?

NIO Delivers 11,866 Vehicles in March 

On April 1, 2024, NIO announced that in March 2024, NIO delivered 11,866 vehicles in March 2024, increasing by 14.3% year-over-year. The deliveries consisted of 6,737 premium smart electric SUVs, and 5,129 premium smart electric sedans. NIO delivered 30,053 vehicles in the first quarter of 2024. Cumulative deliveries of NIO vehicles reached 479,647 as of March 31, 2024.

55 Charging and Power Swap Stations Built Globally in March

In March, NIO deployed 23 Power Swap Stations and 32 charging stations globally. As of March 31, NIO has 148 NIO Houses across the globe and has built 2,439 Power Swap Stations. NIO has installed 3,763 charging stations and 21,846 chargers, and connected to more than 1 million third-party chargers. NIO has offered power swapping services to users beyond 41 million times in total.

On March 18, NIO’s first Power Up Station integrated with photovoltaic storage and discharging for expressways was put into operations in the West Zhijiang Rest Area on the Shanghai-Chongqing Expressway.

As of March 20, 200 Power Swap Stations have been built in the Yangtze River Delta. With one single swap as fast as three minutes, 92 cities in Jiangsu, Zhejiang and Anhui provinces and Shanghai can be reached via battery swapping.

On March 4, Power Journeys | Southeast Chongqing Route Opened up. To date, NIO has deployed XX Power Journeys in China and 1 in Europe. 

NIO Announces Unaudited Fourth Quarter and Full Year 2023 Financial Results

On March 5, NIO announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. Total revenues were USD 2,408.9 million in the fourth quarter of 2023, representing an increase of 6.5% from the fourth quarter of 2022. Vehicle margin was 11.9% in the fourth quarter of 2023, reaching two digits in two consecutive quarters. Cash and cash equivalents, restricted cash, short-term investment and long-term time deposits were USD 8.1 billion as of December 31, 2023. Research and development expenses in the fourth quarter of 2023 were USD 559.5 million. Total revenues were 7,833.6 million for the full year of 2023, representing an increase of 12.9% from the previous year. Research and development expenses for the full year of 2023 were USD 1,891.8 million.

NIO Joins Hands With CATL in Innovation of Long-Life Batteries

On March 14, NIO Long-Life Battery Strategy Communication Conference was held in Beijing. Contemporary Amperex Technology Co., Ltd. ("CATL") and NIO signed a framework agreement in Beijing. The two companies are set to carry out innovation in the R&D of long-life battery based on NIO's requirements in battery swapping. Shizhe TZENG, NIOs Vice President, and Huan GAO, CTO of CATL's China Passenger Vehicle Business Unit, signed the agreement on behalf of the two companies. Alan ZENG, NIO's Senior Vice President and CEO of XPT, and Wei ZHU, Executive President of CATL's Passenger Vehicle Business Unit, attended the signing ceremony.

Zhongan Energy and NIO Power Enter into Cooperation Agreement

On March 22, Zhongan Energy (Anhui) Co., Ltd and NIO Power signed a cooperation agreement in Hefei. The two parties will move forward with comprehensive strategic cooperation in battery standards, charging and swapping technologies, charging and swapping network development and operations, battery asset management and operations, new power system, supply chain related to the production and manufacturing of charging, swapping and power storage facilities, etc. According to the plan, the two parties will deploy 1,000 charging and swapping stations moderately ahead of schedule that integrate power storage, centering around Anhui Province, radiating to the Yangtze River Delta, and further covering the country. Joining hands, Zhongan Energy and NIO Power aim to build an open and shared power network of charging, swapping, and storage, and construct effective battery asset management and operation systems.

NOP+ Available in 726 Cities in China and Ready for User Experience

On March 8, NIO announced that its Navigate on Pilot Plus (NOP+) had expanded to 726 cities, which represented a coverage of 99% cities in the Chinese mainland, with the total length amounting to 1.08 million eligible kilometers. Starting with 606 cities in early February, NOP+ was then made available in another 120 cities.

On March 21, Dr. Shaoqing REN, NIO's Vice President of Autonomous Driving Development, announced that NIO would soon unveil 10,000 slots for users to experience NOP+. Beginning in March, users can schedule a NOP+ test drive or experience session at nearly 400 NIO stores across China.