Nio, the renowned electric vehicle (EV) maker, recently hosted a year-end media event in Shanghai, where the company’s founder, chairman, and CEO William Li addressed over 200 questions from reporters over a span of three hours. This event serves as a precursor to Nio Day 2024, scheduled to take place on December 21 in Guangzhou, where the company plans to unveil the ET9 and introduce the Firefly brand.
During the media interaction, Li reiterated Nio’s ambitious sales target for 2025, aiming to double its sales figures from the previous year to around 440,000 units. The company has been steadily expanding its market presence, with the Nio brand witnessing a moderate growth in sales compared to 2024. Additionally, the Onvo sub-brand is projected to achieve an average monthly delivery of 20,000 units in 2025, surpassing 200,000 units for the year.
Exciting developments were also shared regarding the Firefly brand, which is poised to enter the European market in 2025. Initially designed for the European market, the Firefly model will now be launched in China as well, catering to the growing demand for premium boutique small cars. The Firefly’s battery swap network is expected to offer a cost-effective and efficient solution for users, with plans to expand its reach globally in the coming years.
Moreover, Nio’s battery swap alliance has been actively collaborating with partners to develop new battery swap-enabled models. The first model from this alliance is currently undergoing winter testing, with more models incorporating Nio’s battery swap technology slated for release by 2027-2028. Additionally, Nio’s expansion plans include entering 25 countries and regions by 2025, focusing on the sales of Onvo and Firefly models in overseas markets due to their cost-effectiveness.
In response to queries about hybrid models, Li clarified that Nio has no plans to launch hybrid models in China but may consider introducing them in overseas markets. The company’s commitment to maintaining growth quality and gross margins prioritizes the sustainability of its operations in 2025. Furthermore, Li expressed optimism about the rapid growth of China’s new energy vehicle (NEV) market, projecting a penetration rate of 90% by 2027, three years ahead of earlier estimates.
Overall, Nio’s strategic initiatives and innovative offerings underscore its position as a key player in the EV industry, with a strong emphasis on sustainable growth and global expansion. The company’s dedication to technological advancements and market penetration bodes well for its future prospects in the rapidly evolving automotive landscape.
