Nio sales soar in July

Chinese electric car startup Nio delivered 3,533 vehicles in July 2020, representing a 322.1 percent growth from the same month last year.

It sold 17,702 vehicles in the first seven months this year, bringing its cumulative deliveries to 49,615 vehicles. Nio is offering two models in the market, the ES6 and the ES8 SUVs.

Starting from late July, the startup is taking production orders for its third model, the EC6, which is a 5-seat electric coupe SUV.

The model has a range of 615 kilometers with the 100 kWh battery pack. Nio said the deliveries will start in September 2020.

William Li, founder and chairman of Nio, said the company achieved the second-highest monthly delivery results in July despite a 5-day suspension of manufacturing to prepare for EC6 production and deal with flood-related supply chain challenges.

"We believe we will be able to increase our production capacity significantly to support higher deliveries in the third quarter of 2020," said Li.