On September 7, NIO released its second quarter 2022 financial report. After the financial report was released, Li Bin, the founder, chairman and CEO of NIO attended the subsequent conference call and explained the financial report.

Q2 Revenue
During the reporting period, the company achieved a revenue of 10.29 billion yuan, compared with 8.448 billion yuan in the same period last year, a year-on-year increase of 21.8%; a net loss of 2.745 billion yuan, a loss of 659 million yuan in the same period last year.

Q3 Projection
NIO expects to deliver 31,000 to 33,000 vehicles in the third quarter of 2022, with estimated revenue of 12.85 billion to 13.6 billion yuan in the third quarter.

Committed to full-stack self-development in core technology
“With respect to the U.S. export policy of chips to China, we don’t think it will have an impact on our business in the short term, and does not involve chips related to vehicles.” Li Bin said. The chip policy won’t have a real impact on the company’s long-term strategy. In core technology areas, including chips, NIO’s goal is to build full-stack self-research capabilities.

Q4 rapid growth expected with ET5 delivery over 10,000 in December

Li Bin said that NIO is now ready for the rapid growth in production and deliveries in the fourth quarter. NIO will send engineers to help suppliers, and by stepping up the introduction of new suppliers, aim to solve the bottleneck of integrated die-casting supply, and better achieve the full-year target.

Li Bin said that the delivery of ET5 is expected to exceed 10,000 in December, and it will break records month by month in the fourth quarter, rising month by month, and reaching its peak in December.