NIO Inc. announced on Thursday that its total revenue for the first quarter of 2022 increased by 24.2% on an annual basis to reach $1.56 billion. Vehicle sales saw a rise of 24.8% in comparison to the same period last year, amounting to $1.45 billion. The company delivered 25,768 vehicles in the first trimester of the fiscal year, representing a year-on-year increase of 28.5%.
Meanwhile, the company's net loss rose by a staggering 295.3% when compared to the first quarter of 2021, to reach $281.2 million. However, the figure marks a decrease of 16.8% in comparison to the previous quarter. Basic and diluted net loss per Ordinary Share stood at $0.18 in the first trimester of 2022.
"Despite the volatilities of supply chain and the challenges in vehicle delivery resulting from the recent COVID-19 resurgence, we witnessed robust demand for our complementary products and achieved an all-time high order inflow in May 2022," NIO's CEO William Bin Li noted.
