NIO sees 300,000th production vehicle roll off line

As of November 30, NIO's cumulative deliveries reached 273,741 units.

NIO today announced it saw its 300,000th production vehicle roll off the production line, a blue ET5 sedan.

The company achieved its third 10, 000-vehicle rollout in seven months. It saw its 200,000th production vehicle roll off the line at the end of April this year.

Cumulative deliveries of NIO cars reached 273,741 units as of November 30, data previously released by the company showed. It is not clear what the company's cumulative production was as of the end of November.

Here is a video NIO shared on its app about its plant.

Behind NIO reaching the latest milestone is the rapid rise of high-end smart electric vehicles in China, the company said in a post on its app.

Penetration of new energy vehicles (NEVs) in China has climbed rapidly from 5.9 percent in 2019 to 27.4 percent as of November this year, with the highest penetration rate in a single month already topping 30 percent, the article said.

From January to November, NIO's share of the high-end pure electric vehicle market where the average transaction price exceeds RMB 400,000, exceeded 70 percent, the article wrote.