NIO Inc. Reports Unaudited Second Quarter 2025 Financial Results

Sept. 02, 2025, SHANGHAI, China - NIO Inc. announced its unaudited financial results for the second quarter ended June 30, 2025. Vehicle deliveries were 72,056 in the second quarter of 2025, representing an increase of 25.6% from the second quarter of 2024, and an increase of 71.2% from the first quarter of 2025. Total revenues were RMB19,008.7 million (US$2,653.5 million) in the second quarter of 2025, representing an increase of 9.0% from the second quarter of 2024 and an increase of 57.9% from the first quarter of 2025. Gross margin was 10.0% in the second quarter of 2025, representing a significant increase from the first quarter of 2025.

The gross margin of other sales turned positive, reaching a record high of 8.2%. Balance of cash and cash equivalents, restricted cash, short-term investment and long-term time deposits was RMB27.2 billion (US$3.8 billion) as of June 30, 2025, representing a quarter-on-quarter increase. Research and development expenses in the second quarter of 2025 were RMB3,007.0 million (US$419.8 million).

For the third quarter of 2025, NIO Inc. expects:

· Deliveries of vehicles to be between 87,000 and 91,000 vehicles, representing an increase of approximately 40.7% to 47.1% from the same quarter of 2024.

· Total revenues to be between RMB21,812 million (US$3,045 million) and RMB22,876 million (US$3,193 million), representing an increase of approximately 16.8% to 22.5% from the same quarter of 2024.