Chinese automobile manufacturer NIO Inc. said on Thursday that its revenues surged 49.1% year on year to reach 9.9 billion yuan ($1.55 billion) in the fourth quarter of fiscal 2021.
The company also reported a net loss of 2.14 billion yuan ($336.4 million) for the three months, as its gross profit added up to 1.69 billion, marking an increase of 48.8% from the fourth quarter of 2020, but a decrease of 14.7% compared to the third quarter of 2021.
"2021 had been a year of making decisive investments in products and technologies, as well as in power and service infrastructures," said NIO Chief Executive Officer William Bin Li. "On top of our growing user base in China, 2021 also marked the beginning of our global market expansion starting from the launch and deliveries of NIO vehicles in Norway in September 2022," he added.
