Nio Reports Wider Q1 Loss but Projects Strong Q2 Growth

Despite a challenging first quarter, Nio anticipates a significant increase in vehicle deliveries and revenue in the second quarter.

Nio's Q1 2024 net loss was RMB 5.18 billion, higher than analyst expectations.
Revenue for Q1 dropped 42.1% from the previous quarter to RMB 9.9 billion.
Nio projects Q2 deliveries to reach between 54,000 and 56,000 vehicles, a substantial increase from Q1.
The company unveiled its new NT3 platform, aiming for a 20% vehicle margin by 2025.
Nio plans to enter the UAE market by the end of 2024, expanding its global footprint.