Shanghai-based electric vehicle manufacturer Nio plans to achieve profitability by 2026, focusing on improving gross profit margins, controlling costs, and boosting operational efficiency.

CEO William Li noted that Nio’s progress is about two years behind initial projections, which expected it to reach its current performance level by 2022.

Nio aims to deliver 220,000 vehicles in 2024, with plans to double that number in 2025.

The company plans to expand into 25 overseas market by next year, prioritizing Onvo and Firefly, and shifting to global partnerships.

Recent Nio developments