China's EV maker NIO's deliveries exceed 20,000 in 2019

SHANGHAI - NIO Inc, a Chinese leading electric vehicle manufacturer said in a financial report released on Wednesday that its full-year deliveries of vehicles reached 20,565 in 2019, compared with 11,348 units delivered in 2018.

The company's total revenues were 7.82 billion yuan ($1.1 billion) last year, representing an increase of 58 percent from the previous year.

Net loss attributable to NIO's ordinary shareholders decreased by 51.1 percent year-on-year to 11.4 billion yuan for the full year of 2019.

William Li, founder, chairman and CEO of NIO, said NIO served over 34,218 users across 296 cities in China as of the end of February 2020, with its ES6 ranking first in electric SUV sales in China for the fifth consecutive month since last October.

"We are pleased to see our growing user community becoming an essential part of our brand and business growth," Li said, noting that NIO is striving to resume productions, expand traffic channels and integrate its online and offline sales efforts in a challenging environment due to the COVID-19 outbreak.

For the first quarter of 2020, the company expects its deliveries of the vehicles to be between 3,400 and 3,600 units, representing a decrease of approximately 9.8 percent to 14.8 percent from the same period of 2019.

Founded in November 2014, the Shanghai-headquartered company completed its initial public offering on the NYSE in September 2018.