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Nio Inc (NYSE:NIO) reportedly stepped up its global push in October, sending hundreds of electric vehicles overseas while continuing strong sales momentum at home.
The company is focused on expanding its footprint beyond China as competition intensifies across the EV market.
According to a CnEV Post report, Nio shipped 431 vehicles abroad in October, more than doubling the volume shipped in September.
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The surge highlights a renewed emphasis on reaching drivers outside China.
Domestic demand also remained firm, with 39,966 retail sales in China and 40,397 total deliveries reported for the month, the report adds.
The company previously exported 217 units in August, alongside 31,088 retail sales in China.
Nio delivered 40,397 vehicles in October, its strongest month ever, representing a 92.6% year-over-year increase.
Cumulative deliveries reached 913,182 vehicles through Oct. 31. The ONVO L90 remained a key driver, topping 10,000 units for a third straight month and targeting large three-row SUV buyers.
According ot the executives, the L90’s performance strengthens Nio’s position in the shift to fully electric SUVs.
October’s international shipments marked Nio’s fastest export pace of the past three months. Analysts say the automaker is broadening its network to build a foundation in new regions.
Nio recently spotlighted Firefly, its premium boutique sub-brand, which sent a sizeable batch of cars to Europe last week, CnEV Post adds.
The company said Firefly will target Europe, North America and Asia as part of a wider rollout. It did not disclose the number of units shipped.
Firefly’s first model launched in China in April and reached European buyers in mid-August.
Norway and the Netherlands were the first markets to open. As charging networks expand and demand for premium EVs increases, more countries are expected to follow, the report notes.
NIO Price Action: Nio shares were up 3.43% at $6.94 during premarket trading on Tuesday, according to Benzinga Pro data.
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Photo by Michael Vi via Shutterstock
Posted In: NIO
