Of the deliveries, 36,928 were under the NIO brand, 37,656 under Onvo, and 12,487 under Firefly. Vehicle sales generated 19.2 billion yuan (2.34 billion euros) in revenue for q3/’ title=’WeRide Cuts Losses Amid Major Revenue Surge in Q3’>Q3, a year-over-year increase of 15% and an 19% rise from the second quarter.

Nio’s gross profit reached 3.02 billion yuan (370 million euros), marking a 10% growth compared to the previous quarter. This contributed to a gross margin of 13.9%, higher than in past quarters, but despite this improvement, Nio remains unprofitable with net losses totaling 3.48 billion yuan (420 million euros) for Q3.

The company also reported reduced R&D expenditures by 28% year-over-year to 2.39 billion yuan (291 million euros), while general sales and administrative expenses increased slightly to 4.18 billion yuan (510 million euros). Nio’s founder and CEO, William Li, attributed the over 40% growth in deliveries to the competitiveness of their brand offerings across different market segments.

Li added that they are working closely with supply chain partners to ramp up production for Q4, expecting total deliveries between 120,000 and 125,000 units, reflecting a year-on-year increase of 65.1% to 72%. This would set a new quarterly record.

Despite the positive trends in delivery figures and cost reduction efforts, Nio’s path to profitability remains challenging. The company continues to focus on optimizing costs while maintaining high levels of research and development spending indicative of future growth potential.

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