delivered 1,533 new cars in March, up 11.7% year-on-year and 116.8% month-on-month.

Nio delivered a total of 3,838 units in the first quarter of 2020, exceeding its target of 3,400 ~ 3,600 units in the 2019Q4 financial report guidance.

Since the delivery began in June 2018, Nio has delivered a total of 35,551 units, including 20,675 ES8 and 15,076 ES6.

Li Bin, founder of Nio, said that since February the company's cumulative orders have been increasing.

On March 31, China extended the new energy vehicle purchase subsidy and purchase tax exemption policy for 2 years.

Nio responded by saying that from mid-February to mid-March, Nio's new order levels have returned to 70% of last December.  New energy vehicle subsidies and purchase tax exemption policies were extended for two years to 2022, which strengthened market confidence.

As of the end of March, Nio had opened 87 stores nationwide, including 22 Nio centers and 65 Nio spaces, and its sales network had covered 60 cities nationwide.