On Monday, NIO Inc. (NYSE:NIO) reported strong growth in May vehicle deliveries as demand across its NIO, ONVO and FIREFLY brands continued to expand.

May Deliveries Jump 62%

The Chinese electric vehicle maker delivered 37,705 vehicles in May, up 62.3% from a year earlier. Deliveries included 20,013 vehicles from the NIO brand, 12,029 from ONVO and 5,663 from FIREFLY.

Year-to-date deliveries reached 150,526 vehicles through May, an increase of 68.7% from the same period last year. Cumulative deliveries totaled 1,148,118 vehicles as of May 31.

New SUV Launches Support Growth

The company, a major rival to Tesla, Inc. (NASDAQ:TSLA), launched the ONVO L80, a smart flagship five-seat SUV, on May 15, with deliveries beginning the following day. The company said the model combines spacious design, advanced smart technologies and access to its charging and battery-swapping network.

According to the company, the L80 has received strong customer feedback since launch and is helping drive battery electric vehicle adoption in the large five-seat SUV segment.

The company also highlighted the performance of the All-New ES8, which ranked No. 1 in sales among vehicles priced above 400,000 Chinese yuan across all powertrain categories for five consecutive months as of May.

ES9 Targets Premium Executive SUV Market

On May 27, the company launched the ES9, its flagship executive SUV, with deliveries starting May 28.

The company said the ES9 combines flagship smart technologies, executive-level comfort and space, and a full-domain 900V high-voltage architecture integrated with NIO’s charging and battery-swapping network.

The electric vehicle maker described the model as the culmination of 11 years of innovation and said it strengthens the company’s position in the premium electric vehicle market.

Founded in 2014, NIO develops and sells smart electric vehicles under the NIO, ONVO and FIREFLY brands.

NIO Stock Price Activity: NIO shares were up 6.79% at $5.978 at the time of publication on Monday, according to Benzinga Pro data.

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