NIO reports a larger Q3 loss despite improved gross margin and projects higher Q4 vehicle deliveries.

NIO, a Chinese EV maker, reported a wider net loss of 5.14 billion yuan ($710 million) in Q3, up from 4.63 billion yuan last year, due to a 2.1% drop in revenue to 18.67 billion yuan. Despite the financial loss, the company's gross margin improved to 10.7%. NIO expects vehicle deliveries to rise 44-50% in Q4, with revenue projected between 19.68 billion yuan and 20.38 billion yuan.

November 20, 2024
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