NIO Inc. achieved over 40,000 monthly deliveries for the first time, signaling a strong turnaround and strategic recovery.
In October, NIO Inc. recorded its first-ever monthly deliveries above 40,000 units, marking a major milestone in the company’s 10-month transformation journey.
The last time NIO reached a new delivery level was in December 2023, when monthly deliveries exceeded 30,000 units at 31,138.
The 300 days between December 2023 and October 2025 have been the most intense period of organizational reform in NIO’s history.
With new business unit structures, tighter cost control — “every yuan must echo,” as CEO William Li put it — and an urgent push toward fourth-quarter profitability, the challenges have been steep but strategic.
Meanwhile, the company’s three major brands are now validating those internal changes with visible delivery gains.
The ONVO L90 surpassed 10,000 units in its first full month of sales, while the new ES8 achieved the same milestone in just 41 days.
Even the once-troubled Firefly brand made an impressive comeback in the third quarter, reaching weekly sales of 1,300 units and entering China’s Top 10 small NEVs.
If NIO was still navigating uncertainty six months ago, it now appears to have fully returned to its rightful place — a recognized leader in the pure-electric era, where industry perception and market performance finally align.
Entering its 11th year, NIO now has the products to match its ambitions.
As Li stated earlier, he is “confident that NIO will achieve average monthly deliveries of 50,000 in Q4.” That means the automaker isn’t stopping at 40,000 — it’s aiming for 50,000, even 60,000.
Breaking into the Pure-Electric Era
The first quarter of 2025 was among the toughest for NIO since 2019.
ONVO’s L60 struggled, NT2 platform models lagged, and Firefly’s launch was widely seen as a failure.
Public opinion turned sharply negative, labeling NIO’s restructuring as “desperation.”
But as in past downturns, NIO’s recovery stemmed from its core strengths — products and technology.
After delivering only 4,400 ONVO L60 units in March, the model stabilized at around 6,000 monthly from May through August — a rare rebound in China’s fast-moving EV market.
The L60’s turnaround demonstrated both product strength and the capabilities of NIO’s NT3 platform — a culmination of a decade of R&D.
Built on the same NT3 architecture, NIO’s three flagship SUVs — the L60, L90, and ES8 — have all become top sellers in their segments.
Despite an influx of extended-range and plug-in hybrid SUVs this year, the two large pure-electric three-row SUVs on NT3 have maintained strong sales, ranking among the top in the RMB 300,000–400,000 ($42,100–$56,100) range.
The reason is straightforward. As William Li said in the final slide of the new ES8 launch presentation: this year, NIO was among the first to charge into the pure electric era.
Since Tesla ignited the global EV revolution in the 21st century, the spatial and efficiency advantages of all-electric platforms have made full electrification synonymous with the “mega trend.”
Yet, turning that trend into a profitable business took Tesla more than sixteen years—and as Li himself has put it, the market will not give NIO another sixteen years to catch up.
Fortunately, the times are now rewarding NIO’s decade-long persistence.
By 2025, China’s NEV penetration has surpassed 50%, while lithium carbonate prices—after extreme volatility in 2022—have continued to hit record lows.
This marks a dual maturity of market perception and the raw material supply chain—what NIO executives call “perfect timing.”
Seizing this timing is NIO’s NT3 platform, the culmination of ten years of R&D.
While many automakers have recently launched platforms exceeding 800V or even pushing toward 1,000V full-system voltage, it was NIO that first announced an ultra-high-voltage platform at the end of 2023.
In December 2023, NIO unveiled the NT3 with a 925V full-system architecture—a “return of the king” at the structural level. By May 2024, the ONVO L60, “born with a golden key,” became the first model based on it.
Ultra-high voltage is only one of the NT3 platform’s main strengths. Exceptional space efficiency, ultra-low system latency, and highly flexible compatibility across batteries, motors, and domain controllers allow NIO to build intelligent EVs covering a wide price range from RMB 200,000 ($27,500) to RMB 1 million ($137,000).
By entering the ultra-high-voltage era nearly a year ahead of industry peers—and achieving mass production about half a year earlier—NIO gained crucial lead time in an intensely competitive NEV market, where six months can make all the difference.
If NIO’s earlier struggles with sales and public perception partly stemmed from mismatched product, R&D, and marketing rhythms, then by 2025, at the NT3 inflection point, its operations have grown far more coordinated and agile.
NIO’s strong rebound this year may appear counterintuitive or even against prevailing sentiment—but in essence, it aligns perfectly with the currents of both time and technology.
Restoring Confidence and Cohesion
Half a year later, NIO’s internal and external dynamics have reversed.
While its technology and product capabilities have always been among the industry’s best, recent progress has focused on rebuilding morale and unity.
As NIO executive Shen Fei described at the Shanghai Auto Show, it’s about “quiet persistence” — ensuring every salesperson “sells one more car each month.”
Shen’s transfer from NIO Power to the ONVO brand was one of the company’s most effective strategic moves this year.
After overseeing the expansion of NIO’s battery-swap network to over 3,000 stations, Shen brought that same discipline to ONVO. The L60’s rebound under his leadership became a symbol of resilience.
Firefly’s recovery was no less dramatic. Initially mocked for its design and pricing, the compact EV gained traction after Firefly chief Jin Ge led a confident, candid press briefing less than 12 hours after the model’s launch, countering doubts with technical depth and clarity.
Meanwhile, at the Chengdu Auto Show, NIO’s president Qin Lihong announced a major price realignment across six NIO brand models (ET5, ET5T, ES6, EC6, ET7, EC7).
Meanwhile, Li Bin hosted an open Q&A session with customers at NIO’s Shanghai headquarters the same evening — facing tough questions head-on.
Among Chinese automakers, few leaders match Li’s willingness to engage directly and transparently with users, earning both respect and renewed loyalty.
Chasing Profitability with Scale and Quality
With timing, technology, and unity in place, one question remains — when will NIO turn a profit?
Li has set a firm goal: “profitability in Q4.” But instead of cutting costs, NIO aims to reach it through higher volume and stronger margins.
His Q2 target of “over 50,000 monthly deliveries” equates to 150,000 cars per quarter.
Having just crossed 40,000 in October, NIO will need to deliver 50,000 and 60,000 in November and December to reach that mark — a steep climb for a premium EV brand focused on models above RMB 200,000 ($27,500).
Both the ONVO L90 and NIO ES8 will need to scale to 15,000 units per month, supported by the entire supply and retail network.
Still, profitability isn’t just about volume. NIO’s vehicle gross margin rose from 10.3% in Q2 to an expected 16–17% in Q4, with the L90 and ES8 contributing around 20%.
According to company insiders, “vehicle margins are performing strongly.”
This reflects NIO’s shift toward higher-quality sales — not just more cars, but more profitable ones.
Despite hybrids gaining ground, China’s overall EV penetration surpassed 50% in 2025, and pure-electric models continue to outsell plug-in hybrids month after month.
NIO’s robust high-end EV sales are thus both a validation of its strategy and a signal of the industry’s direction.
As the title suggests, NIO has reclaimed its rightful position — a pioneer whose technology, products, and business model are once again aligned with market recognition.
After enduring its most turbulent year, NIO has turned strategic focus into tangible results, seizing a defining moment for premium electrification.
Whether or not it ultimately reaches the “60,000 milestone,” the harvest season has already begun — and NIO’s comeback story is still being written.
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