Chinese electric vehicle maker Nio (NIO, Financial) shares surged up to 10% on Tuesday morning, propelling its American depositary shares to a yearly high after the company announced an earnings date.
Nio will report its fourth‑quarter and full‑year financial results before the market opens on Friday, March 21. Last year, the company achieved record monthly EV deliveries, with December totals topping 31,000 units. Investors are now eagerly awaiting details on Nio's two new mass‑market brands, Onvo and Firefly. Onvo sales are underway, while preorders for Firefly, a compact, smart EV priced at about $20,500, have already begun.
The automaker has boosted its vehicle margin from 9.2% in Q1 to 13.1% in Q3, driven by rising sales volumes. In addition, Nio expanded its strategic partnership with BASF Coatings to hold annual dialogues on vehicle exterior coatings, a move expected to improve efficiency and reduce costs.
