NIO Internal Meeting: Targeting 40% Annual Growth and Full-Year Non-GAAP Profitability

William Li projected NIO’s future growth outlook: aiming to maintain annual growth of 40%-50%.

On the afternoon of February 9, NIO held an all-hands meeting where CEO William Li systematically reviewed the company’s 2025 operational achievements and outlined strategic directions for 2026.

A row of modern vehicles parked in a lot, featuring a mix of colors including beige and dark blue, showcasing sleek designs and stylish wheels against a clear blue sky.

I. Scaling Up CBU Mechanism

During the meeting, Li emphasized “operationalizing the CBU (Cell Business Unit) mechanism” as the core task, requiring all employees to achieve the operational goal of “getting the most done with the least money.”

To clarify, CBU is the core organizational transformation mechanism NIO launched in 2025. It breaks down all company operations into multiple non-overlapping independent units, each required to establish clear ROI metrics and performance-based reward and penalty rules, achieving “independent accounting and self-sustaining profitability.”

Li used car manufacturing as an analogy for CBU’s progress: “Last year we only made it to the concept car stage, but we will continue pushing forward to reach mass production sooner, striving for annual improvements in operational efficiency.”

This implies that NIO’s CBU mechanism will achieve full-scale implementation in 2026.

A NIO ES8 electric vehicle displayed in a modern showroom, with people interacting and examining the car. The background features digital displays of other vehicles and scenic imagery. — ES8

II. 2025 Achievements

Public data shows that NIO’s sales volume increased by 47% year-over-year in 2025, with over 70% growth in the second half of the year. The company also celebrated its 1 millionth mass-produced vehicle rolling off the line in January 2026.

Li noted that CBU played a key role in achieving these results.

Li revealed that through the CBU mechanism, NIO successfully reduced quarterly R&D expenses from approximately 3 billion yuan to around 2 billion yuan, while maintaining the original output efficiency of 3 billion yuan. Sales and administrative expenses were also significantly optimized, expected to be controlled within 10% of sales revenue in Q4.

During the recognition session, the all-new ES8 model team received the sole “Special Contribution Award” grand prize, while the L90 model team, Firefly model team, self-developed chip team, and supply chain cost reduction team received first prizes.

Li specifically emphasized that the L90 achieved over 10,000 monthly deliveries for three consecutive months, with its launch marking the beginning of the company’s momentum recovery.

A black SUV driving through a snowy landscape, kicking up snow as it navigates a winding road surrounded by snow-covered trees and mountains in the background. — ONVO L90

III. 2026 Targets

Based on the profitability foundation established in Q4 2025, Li explicitly set the core operational target for 2026: achieving full-year Non-GAAP profitability.

To support this target, he proposed three key strategies:

Resolutely invest in technology and product R&D while improving R&D efficiency;
Continue deploying battery swap infrastructure and sales/service networks;
Continuously implement organization-wide operational reforms centered on user value creation.

Based on these deployments, Li expressed his growth expectations for NIO’s future: hoping to maintain annual growth of 40%-50%.