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The Chinese electric car manufacturer Nio gains ground in its home market.

The automaker, which went public on the NASDAQ on September 12, is about to sell more than 10,000 copies of its all-electric ES8 SUV before the end of 2018. He delivered an impressive 3,268 units of the seven-passenger SUV in Q3 this year, surpassing his own estimates of 2,900-3,000 vehicles with a substantial margin. The company said it had moved 1,766 ES8s in September 2018 alone.

Nio was on fire in Q3, but the young automaker lowers expectations for Q4. Deliveries for the last fiscal quarter of 2018 are expected as they are maintained at a manufacturing facility. China's national holiday, which takes place in the first seven days of October, will also force a fall in production in the fourth quarter.

"Increasing our monthly shipments from 381 in July to 1,766 in September shows our steady ramp-up in production, strong user demand and initial acceptance of NIO as a premium brand," said NIO founder and CEO William Li in a statement.

"While the planned shift in production will slow our deliveries for October, it paves the way for an accelerated ramp-up of production and we remain on course to meet our delivery target of 10,000 ES8s for the second half of 2018," added Nio CFO Louis Hsieh.

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The ES8 has two electric motors with a combined output of 644 hp and 620 lb-ft of torque. A 70 kWh battery has an estimated range of approximately 220 miles (or 354 km) in the NEDC cycle and can be charged from "Flat" to "Full" in one hour with a DC fast charger. Prizes start at a competitive RMB448,000 ($ 69,790), but Nio also sold a well-equipped "Founders Edition" that included all options and added about $ 16.00 to the vehicle's selling price.

While Nio is gaining a foothold in China, Tesla takes a serious look at the production of cars. Recently, there have been reports that the American electric vehicle manufacturer is preparing to build a production facility in Shanghai, which will serve as the first factory outside its home market.

Although there are currently no official plans to sell the ES8 in the US, Nio hopes to one day be able to expand into the US and sell his vehicles here. An SUV like the ES8 would be well suited to the tastes of US consumers – especially if the price is around 70,000, as is the case in China.

A version of this story originally appeared,

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