Overview
- October marked Nio’s first month above 40,000 deliveries and November was its second‑biggest, lifting year‑to‑date volumes through November by 45.6%.
- Vehicle gross margin improved to 13.9% in the third quarter, up from 10.7% a year earlier and 10% in the prior quarter.
- Nio’s multi‑brand strategy, adding mass‑market Onvo and premium‑compact Firefly, expanded its addressable market, with Firefly shipments starting in spring 2025.
- The company has yet to post a profit and raised fresh capital in September to bolster its finances.
- China will cut the 10% EV purchase tax exemption by half in 2026, while fast‑growing rival Xiaomi has delivered about 500,000 vehicles in under two years.