Shanghai (ZXZC)- NIO Inc., a prominent player in China's premium smart electric vehicle market, announced it delivered 20,544 vehicles in May 2024, marking a substantial year-over-year surge of 233.8%.

NIO EC6, NIO ES6; photo credit: NIO

The breakdown of May's deliveries reveals that NIO sold 12,164 premium smart electric SUVs and 8,380 premium smart electric sedans.

As of May 31, 2024, NIO's cumulative deliveries have reached an impressive total of 515,811 vehicles, reflecting the company's sustained growth and market penetration.

In addition to its remarkable sales performance, NIO has made significant strides in expanding its strategic partnerships on battery swapping business. In May 2024, the company announced new collaborations with GAC Group and FAW Group to share its battery swapping infrastructure. These new alliances join an already robust network of partners, including Changan Automobile, Geely Group, JAC Group, Chery Automobile, and Lotus Technology.

On May 31, NIO Energy Investment (Hubei) Co., Ltd. announced it secured a strategic investment of 1.5 billion yuan from institutions including Wuhan Guangchuang Emerging Technology Phase I Venture Capital Fund Partnership (Limited Partnership) (referred to as "Wuhan Guangchuang Fund"). This fresh investment will be used for technology R&D, manufacturing, operations, and maintenance in fields such as electric vehicle charging, battery swapping, energy storage, battery services, and the energy internet. It will also support the development and expansion of NIO Energy's EV charging and battery swapping infrastructure, and the investment in innovative vehicle-to-grid interaction business.