Chinese electric vehicle (EV) maker Nio (NYSE: NIO) has given investors plenty of reasons to be frustrated over the years. Between delayed profitability and net losses, a brutal Chinese automotive price war, and heavy capital expenditures for its battery-swap network, the road hasn't exactly been smooth. But there's a potentially encouraging development investors shouldn't overlook. Through September, Nio delivered 300,301 vehicles, a whopping 49.2% increase compared with the prior year. That's impressive, and there's another number that might be even more important for long-term investors. Nio's growth story has evolved beyond its premium namesake vehicles. The company now operates three brands: Nio, which targets premium buyers; Onvo, which focuses on family-oriented vehicles; and Firefly, which offers smaller, more affordable EVs. That broader lineup gives Nio opportunities to reach customers who might never have considered one of its higher-priced vehicles.Though Nio's sales can vary wildly month to month, the trend is clear and emphasizes that the company is expanding sales consistently over time and continuing to build scale.
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