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Nio narrows 1QFY2022 loss, preps for delivery of new model

The Edge Singapore
The Edge Singapore6/9/2022 08:38 PM GMT+08  • 1 min read
Nio narrows 1QFY2022 loss, preps for delivery of new model
Nio will deliver its new model ET5 in September / Photo: Nio
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Electric car maker Nio has narrowed its loss for 1QFY2022 ended March by 62.6% y-o-y to RMB1.8 billion.

Revenue in the same period was RMB9.9 billion, up 24.2% y-o-y, as it sold more cars.

On the other hand, Nio company incurred higher operating costs, causing gross margins to drop from 19.5% to 14.6%.

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