Sales of pure electric vehicles from January through November rose 4.4% from a year ago, versus a decline of 7.6% in overall passenger car sales during the same time, according to China's Ministry of Industry and Information Technology.
, which stepped up its promotions in the country on New Year's Day and delivered about five times more cars worldwide last year than the three start-ups combined. The company went public in September 2018 but ran into financial difficulties a year later. Then while China was tackling the coronavirus pandemic in early 2020, Nio secured about $1 billion in financing from state-backed investors. In August, founder William Li said the company expects to resume
Deliveries for the company's first model, the Li One SUV, reached a record monthly high of 6,126 in December, according to the automaker.announced Monday it delivered 27,041 vehicles in 2020, also more than doubling from a year ago. The company delivered 5,700 electric cars in December for a second-straight month of gains.