Nio Projects Weak Q1 Results as Competition and Sub-Brand Struggles Persist

The Chinese EV maker anticipates lower-than-expected vehicle deliveries and revenue, while pursuing model launches and infrastructure growth to achieve profitability by late 2025.

• Nio forecasts Q1 2025 vehicle deliveries of up to 43,000 units and revenue of 12.9 billion yuan, significantly below market expectations of 65,000 units and 17.8 billion yuan.
• The company's Onvo sub-brand has underperformed, contributing to weaker guidance and ongoing vehicle margin pressures.
• Nio plans to launch nine new or revamped models across its Nio, Onvo, and Firefly brands in 2025 to boost sales and improve margins.
• A partnership extension with CATL will see a 2.5 billion yuan investment in Nio's battery-swapping infrastructure, though consumer adoption of the technology remains uncertain.
• Analysts have revised price targets for Nio, reflecting mixed outlooks as the company targets profitability by Q4 2025 despite competitive and operational challenges.

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