- Shenji's second chip, targeting a broader customer base, has successfully completed tape-out and is currently in mass production.
- The 2026 ET5, ET5 Touring, ES6, and EC6 will also hit the market in the second quarter. The Onvo L80 will launch during the same quarter.
Nio Inc released fourth-quarter 2025 financial results on Tuesday, reporting its first-ever quarterly net profit.
Company management subsequently held an earnings conference call.
Below are live updates from the call, with the most recent information placed at the top.
Nio Inc targets a gross margin of 20% to 25% for the Nio brand, over 15% for Onvo, and over 10% for Firefly.
Nio's service and community business achieved profitability in 2025, with profitability in these operations expected to continue improving in 2026 — even with the addition of 1,000 battery swap stations.
Shenji's second chip, targeting a broader customer base, has successfully completed tape-out and is currently in mass production.
Shenji's second chip is also based on the 5nm process, with a single-chip performance equivalent to three Nvidia Orin X chips, and a significantly lower cost than the Shenji NX 9031.
The chip also has many applications in fields such as embodied robotics. Currently, multiple industry clients are already conducting preliminary testing and engaging with the technology.
In 2026, Nio aims to achieve full-year profitability on a non-GAAP basis.
In 2026, Nio will maintain quarterly R&D expenses between 2.0 billion yuan and 2.5 billion yuan.
Nio expects its vehicle margin for the first quarter to be comparable to that of the fourth quarter of 2025.
The negative impact from rising raw material costs is expected to be contained within a reasonable range during the first quarter.
Nio will roll out two major version upgrades of NWM (Nio World Model) in the second and fourth quarters, respectively.
Sales of the Firefly brand rebounded quickly after the Chinese New Year holiday.
Nio is confident in achieving 40% to 50% sales growth for the full year of 2026.
Nio's 3 new models this year are the Nio ES9 SUV, a large five-seat SUV developed based on the ES8 platform, and the Onvo L80.
These 3 new models, combined with the existing Onvo L90 and third-generation ES8, form Nio's lineup of 5 large SUVs. They complete the brand's positioning in the premium large SUV market, laying a solid foundation for full-year sales growth.
Nio anticipates that overall passenger vehicle sales in China may decline by 2026, while the penetration rate of new energy vehicles (NEVs) will continue to grow, with particularly strong growth in battery electric vehicles (BEVs).
In 2026, Nio will continue to deepen organizational transformation and refine its Cell Business Unit (CBU) centered on user value creation.
The company will establish a more efficient all-staff operating system, strengthen cost control, and deliver more competitive products and technologies alongside more robust business performance to reward users and shareholders.
Nio will continue to enhance the optimization and upgrading of its sales and service network to ensure the entire system possesses greater resilience and can effectively respond to increasingly fierce market competition.
In 2026, Nio Inc will launch three new models to further refine its product portfolio and steadily increase its market share in the premium large-vehicle segment.
The company will also make decisive investments in charging and battery swap infrastructure, enhancing the commercial operational capabilities of its charging and battery swap networks.
Currently, Firefly and its right-hand drive version have entered ten countries. In 2026, Nio will continue to steadily expand its overseas market through the national distributor model, with Firefly serving as the pioneer brand.
As of now, Nio has opened 171 Nio Houses and 395 Nio Spaces. Onvo's store count has reached 420.
Nio will launch its flagship tech-driven executive SUV, the ES9, in the second quarter. Equipped with multiple industry-leading core technologies, it will deliver a luxurious, personalized mobility experience for users.
The 2026 ET5, ET5 Touring, ES6, and EC6 will also hit the market in the second quarter.
The new Onvo L80 model will also launch in the second quarter, while the existing L90 and L60 models will receive product upgrades.
