NIO announced that they have reached the assembly milestone of 300,000 electric vehicles rolled off the production line, the blue ET5 sedan.
The company achieved its third 10,000-vehicle rollout in seven months. It saw its 200,000th production vehicle roll off the line at the end of April this year.
Until the end of November, the company has carried out a cumulative delivery of 273,741 units, data previously released by the company showed. It’s unclear what the company’s cumulative output will be as of the end of November.
Behind NIO reaching the latest milestone is the rapid rise of high-end smart electric vehicles in China, the company said in a post on its app.
New energy vehicle (NEV) penetration in China has increased rapidly from 5.9 percent in 2019 to 27.4 percent in November this year, with the highest penetration rate in one month already reaching 30 percent, the article said.
From January to November, NIO’s share of the high-end pure electric vehicle market, where the average transaction price exceeds RMB 400,000, exceeded 70 percent.
