Summary by Futu AI
NIO Inc., a leader in the premium smart electric vehicle market, has reported a record-high in monthly deliveries for May 2024. The company delivered 20,544 vehicles, marking a significant 233.8% increase compared to the same period last year. Year-to-date deliveries for 2024 have reached 66,217 vehicles, showing a 51.0% increase year-over-year. As of May 31, 2024, NIO's cumulative vehicle deliveries totaled 515,811. The May deliveries included 12,164 premium smart electric SUVs and 8,380 premium smart electric sedans. Additionally, NIO has expanded its strategic partnerships to enhance its battery swapping ecosystem, collaborating with major automotive groups such as GAC Group and FAW Group. This move adds to existing partnerships with Changan Automobile, Geely Group, JAC Group, Chery Automobile, and Lotus Technology. NIO remains committed to providing efficient and convenient recharging experiences for its users. The company continues to innovate with its battery swapping technologies, Battery as a Service (BaaS), and proprietary NIO Assisted and Intelligent Driving subscription services. NIO also introduced ONVO in May 2024, its second smart electric vehicle brand, aimed at enhancing family life and experiences.