![Visitors gather at Nio's booth during an auto expo in Shanghai [Gao Yuwen-China Daily]](https://i0.wp.com/usachinatrading.com/wp-content/uploads/2022/03/Visitors-gather-at-Nios-booth-during-an-auto-expo-in-Shanghai-Gao-Yuwen-China-Daily.jpg?resize=525%2C295&ssl=1)
Chinese electric vehicle startup Nio is to introduce three new EVs based on the Nio Technology Platform 2.0 this year, bringing the total number of its models to six, its founder and CEO William Li said on Thursday. The first model based on the platform is ET7 sedan, which will start being delivered on March 28. Deliveries of the ET5 sedan is expected to start in September this year.
The carmaker plans to release the first SUV model, which will be delivered in third quarter this year, Li said. “We concluded the year of 2021 on a strong note with an annual delivery of 91,429 vehicles in total, representing an increase of 109.1 percent year-over-year, despite all the challenges including the supply chain volatilities in particular,” said Li. Wei Feng, Nio’s CFO said: “With steadily increasing deliveries, a stable average price and improved manufacturing efficiency, we have achieved solid financial performance for fourth quarter & full year of 2021 with the vehicle margin reaching 20.1%.”