Nio achieves first operational profit in Q4 2025

Chinese electric vehicle manufacturer Nio has reported its first operational profit on a quarterly basis since its founding in Shanghai in 2014. According to preliminary figures, the profit is expected to amount to approximately €85 to €147 million.

Nio portfolio messestand auto gunagzhou — Image: Nio

Following a preliminary review of its unaudited consolidated financial results, Nio has announced an adjusted operating profit (non-GAAP) of between approximately 700 million yuan (around 85 million euros) and 1.2 billion yuan (around 147 million euros) for the fourth quarter of 2025. By comparison, the same period in 2024 recorded an adjusted operating loss of 5.54 billion yuan (around 677 million euros). However, the company had reduced its losses quarter on quarter throughout last year.

This milestone profit—Nio also expects a net operating profit of around 200 million yuan (approximately 24 million euros) to 700 million yuan (approximately 86 million euros)—is partly driven by a significant increase in deliveries. In the fourth quarter of 2025, Nio delivered a total of 124,807 vehicles, marking a 71.7% year-on-year rise. This growth is underpinned by Nio’s three-brand strategy, which includes Nio itself, Onvo, and the premium small-car subsidiary Firefly, launched in 2025.

The 124,807 deliveries represent an exceptionally strong final quarter, positively impacting the company’s financial performance: 38% of the 326,028 units delivered in the full year 2025 were rolled out in the fourth quarter. Incidentally, only 325 Nio vehicles were registered in Germany in 2025—the peak had been 1,263 units in 2023.

Nio attributes its first operational profit to sustained growth in delivery volumes during the fourth quarter of 2025, optimisation of vehicle margins through a favourable product mix, ongoing cost-reduction efforts, and continuous improvements in operational efficiency.

It remains unclear precisely where Nio achieved savings in the fourth quarter. Recently, the company had primarily reduced its research and development costs, which had previously been significantly higher than those of other manufacturers. Conversely, Nio has already published its delivery figures for January 2026, demonstrating that the company is maintaining its positive momentum in the new year: the 27,182 vehicles delivered represent a 96.1% increase compared to January 2025. Deliveries were composed as follows: 20,894 vehicles from Nio, 3,481 units from Onvo, and 2,807 battery-electric small cars from Firefly. Since its founding, Nio has delivered a total of 1,024,774 vehicles.

nio.com, carnewschina.com, nio.com (January)