(Yicai Global) Aug. 11 -- Nio, a pioneer among Chinese electric carmakers and the first one to list in the US, expects revenue to soar between about 120 percent and 129 percent this quarter on increasing demand for its vehicles.

Revenue may come in at between about CNY4.05 billion and CNY4.2 billion (USD583 million and USD605 million) in the three months ending Sept. 30, the Beijing-based company said in a second-quarter earnings report published today.

The automaker excepts to deliver between 11,000 and 11,500 vehicles this quarter. That’s about 129 percent to 140 percent more than in the same period of last year.

“We’re confident that production capacity can meet accelerated demand for our models,” founder and Chief Executive William Li said.Niohad record-high quarterly deliveries of its 10,331 ES8 and ES6 models last quarter, he added.

Shares of Nio [NYSE: NIO] gained as much as 2 percent in pre-market trading in New York today. They closed 5.9 percent higher yesterday at USD14.21each. The company listed in September 2018.

In the second quarter of this year, revenue roseto CNY3.72 billion, a147 percent increase from a year earlier and 171 percent up on the first quarter.Nio’s net loss was almost CNY1.18 billion, a decline of 64 percent from a year ago and 30.4 percent from the previous quarter. It lost a total of CNY28.77 billion (USD4.14 billion) from 2016 to 2019, the firm said.

Editor: Peter Thomas