EV maker Nio posts 3.5 billion yuan net loss for Q3 2025 

[SINGAPORE] Chinese electric vehicle (EV) maker Nio recorded a net loss of 3.5 billion yuan (S$638 million) for its third quarter ended Jun 30, 2025, narrowing its losses from 5.1 billion yuan in the corresponding year-ago period. 

Revenue stood at 21.8 billion yuan, a 16.7 increase from 18.7 billion yuan in the third quarter of 2024, the group said in a bourse filing on Tuesday (Nov 25). 

Its loss per share for the quarter stood at 1.14 yuan, down from a loss per share of 2.14 yuan in Q3 2024. 

Revenue from vehicle sales stood at 19.2 billion yuan for the third quarter, up 15 per cent from the year-ago period. 

Q3 vehicle deliveries stood at 87,071, a 40.8 per cent jump from the year before. This comprised 36,928 vehicles from the company’s premium smart EV brand Nio, 37,656 from its family-oriented smart EV brand Onvo, and 12,487 from its small, smart high-end electric car brand Firefly.

Nio recorded higher cost of sales for the three-month period at 18.8 billion yuan, an increase of 12.6 per cent from the year-ago quarter. This was due to increased delivery volume, partially offset by the decreased material cost per vehicle.

Research and development expenses fell 28 per cent from the year prior to 2.4 billion yuan, as a result of organisational optimisation and lower costs arising from new products, and technologies being in different stages of development. 

Selling, general and administrative expenses for Q3 came in at around 4.2 billion yuan, an increase of 1.8 per cent on the year.  

The increase in selling, general and administrative expenses over the second quarter of 2025 was mainly a result of increase in sales and marketing activities associated with new product launches, Nio said. 

SEE ALSO

Nio’s Firefly EV brand seeks growth in right-hand drive markets without tariffs

William Li, founder, chairman and chief executive officer of Nio, said: “Underpinned by our core smart-EV technologies, a complementary multi-brand product portfolio, a comprehensive and convenient battery swopping and charging network, as well as a vibrant and growing user community, the company has entered a new cycle of accelerated growth.” 

The group expects to deliver between 120,000 and 125,000 vehicles in Q4, representing a year-on-year growth of 65.1 per cent to 72 per cent. 

Nio expects its Q4 revenue to range between 32.8 billion yuan and 34 billion yuan, an increase of between 66.3 per cent and 72.8 per cent from the same quarter of 2024. 

Shares of Nio closed at US$5.75, up 3.1 per cent or US$0.17 before the announcement.