The electric vehicle maker generated CNY 8.45 billion this quarter, getting closer to break even.
NIO ES8
On August 11, 2021, Chinese electric vehicle (EV) maker NIO (NIO:NYSE) released its financial report for the second quarter of 2021, with most key figures improving year on year:
The total revenue hit CNY 8.45 billion, up by 127.2% from Q2 2020 and by 5.8% quarter on quarter.
CNY 7.91 was made from car sales: NIO beat analysts' estimates, completing 21,896 vehicle deliveries in the second quarter.
Net loss reached CNY 587.2 million, shrinking by 50.1% from Q2 2020 but increasing by 30.2% from Q1 2021.
R&D cost grew by 62.1% year on year, reaching CNY 880 million; it now equals 10.4% of the firm's total revenue.
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