Chinese electric vehicle (EV) manufacturer NIO has produced its 300,000th vehicle at its Second Advanced Manufacturing Base, marking a new milestone for the company. NIO only began producing EVs in May 2018, yet it has already seen impressive growth in production speed and capacity. In addition to producing its second-generation product platform cars, such as the ET7, ES7 and ET5, NIO plans to launch five additional models in H1 2023 in response to customer demand. The company’s third 100,000-vehicle milestone was achieved in just seven months, indicating that NIO is gaining momentum.
NIO co-founder and President Qin Lihong expects the penetration rate for high-end EVs in China to double or even triple in the future, and the company plans to begin producing cars for the mid-level mainstream market. NIO was listed on the US, Hong Kong and Singapore stock exchanges in 2022, and recently began providing service and delivering its ET7 model in Germany, the Netherlands, Denmark and Sweden. It has also established an innovation centre in Berlin and an AI and autonomous driving R&D centre in Singapore. By 2025, NIO plans to serve users in over 25 countries and territories.