NIO Inc. expects to deliver 87,000 to 91,000 vehicles in Q3, with revenue projected between RMB 21.81 billion ($3.04 billion) and RMB 22.88 billion ($3.19 billion).
On September 2, NIO Inc. released its financial results for the second quarter of 2025. The report shows that the company delivered a total of 72,056 new vehicles in Q2, representing a 25.6% year-on-year (YoY) increase and a substantial 71.2% quarter-on-quarter (QoQ) growth.
Total revenue for the quarter reached RMB 19.01 billion ($2.65 billion), up 9.0% YoY and 57.9% QoQ. Comprehensive gross margin improved to 10.0%, showing significant sequential gains, while other sales gross margin turned positive for the first time, reaching a record high of 8.2%.
R&D expenditure in Q2 was RMB 3.01 billion ($419 million), and cash reserves increased to RMB 27.2 billion ($3.79 billion) sequentially.
The company posted a net loss of RMB 4.99 billion ($694 million) in Q2, down 1.0% YoY and 26.0% QoQ, marking its lowest level since Q4 2023.
As of the end of August, NIO Inc. had cumulatively delivered 838,036 vehicles. Breakdown by brand includes 748,448 units under the NIO brand, 75,033 units under ONVO, and 14,555 units under firefly.
The large three-row SUV ONVO L90, launched on July 31, delivered over 4,000 units within just 10 days, with first-month deliveries reaching 10,575 units—the fastest model in NIO brand history to exceed 10,000 units.
The all-new ES8 went on presale on August 21, with a starting price of RMB 416,800 ($58,070), or RMB 308,800 ($43,000) with the BaaS battery leasing option. Co-founder Qin Lihong revealed that presale orders have already surpassed those of the L90 over the same period.
Since its launch in April, firefly has delivered its first 10,000 units by the end of July and officially entered the European market in mid-August, with initial deliveries reaching Norway and the Netherlands, marking NIO’s fastest overseas expansion to date.
This year, the company announced plans to enter 15 additional national markets between 2025 and 2026 under a national distributor model, including Austria, Belgium, Czechia, Hungary, Luxembourg, while also expanding for the first time into the Americas and Central Asia, and launching right-hand-drive firefly models in Singapore.
On the infrastructure front, as of the end of August, NIO had built 3,539 battery swap stations, 4,755 charging stations, and 27,146 charging piles globally.
The G318 Sichuan-Tibet battery swap route was fully completed on August 16, covering 2,950 km with 15 swap stations along the route. Between August 29 and October 12, NIO is offering all users unlimited free battery swaps to further strengthen the energy replenishment network.
Looking ahead to Q3, NIO expects deliveries of 87,000 to 91,000 vehicles, representing 40.7% to 47.1% QoQ growth, and revenue of RMB 21.81 billion to RMB 22.88 billion ($3.04–$3.19 billion), up approximately 16.8% to 22.5% QoQ. The company aims to sustain Q2’s momentum in both sales and revenue while setting new historical records.
Discover more from ChinaEVHome
Subscribe to get the latest posts sent to your email.
