NIO Inc. reported robust third-quarter performance with a 40.8% year-over-year increase in smart EV deliveries, achieving the highest overall gross margin in nearly three years.

• Delivered 87,071 smart EVs in Q3 2025, with monthly deliveries peaking at 40,397 units in October, reflecting a 92.6% year-over-year growth.
• Achieved an overall gross margin of 13.9%, bolstered by improved vehicle gross margins at 14.7%.
• Non-GAAP operating loss reduced by 30% quarter-over-quarter, marking improved operational efficiency.
• Q4 delivery forecast expected between 120,000 and 125,000 units, a significant year-over-year increase of 60.1% to 72%.
• Successfully completed $1.16 billion in equity financing, enhancing financial stability for ongoing R&D and infrastructure development.