Chinese electric vehicle manufacturer NIO (NYSE:NIO) delivered 31,305 vehicles in August, a new monthly record and an increase of 55.2% from August of last year and +48% from the previous month.
For the coming months, NIO (NYSE:NIO) set a target to produce 15,000 ONVO L90 vehicles, and a production target of 15,000 by December 2025 of the newly-launched ES8. For the fourth quarter, NIO (NYSE:NIO) plans to deliver 50,000 vehicles.
The ambitious production targets encouraged NIO (NIO) to expand its partnership with auto insurance technology platform Cheche Group to “optimize the insurance experience” for new energy vehicles.
The collaboration will focus on policy issuance, risk control, and claims management.
“As NIO’s delivery volume continues to scale, we see a clear opportunity to support the growing demand for insurance solutions tailored to new energy vehicles. This momentum is expected to translate into meaningful growth for Cheche, with deeper synergies between our teams becoming increasingly evident in the fourth quarter,” said NIO CEO and Cheche Chairman Lei Zhang.
Shares are more than 1% higher in Monday’s premarket trading.