How much losses has Nio made over the past few years?
Over 80 billion rmb, from 2020 to 2025.
In the worst years, Nio lost over 20 billion rmb per year.
Meanwhile, investors are finally seeing the light at the end of the tunnel – Nio made 0.5bn rmb in operating profit in 4q25, thanks to rising sales of large premium SUVs, which carries higher gross profit margin.
You need to take it with a grain of salt though.
1/ Fourth quarter is usually a good quarter
Indeed, Nio only guided non-gaap breakeven for full-year 2026.
Well, at least it’s not accumulating more losses.
2/ Peers like Li Auto, which was profitable before, made losses again in 3q25
It’s the nature of auto industry to be cyclical, due to product cycles etc.
3/ Leaders like Tesla is already making money other than selling cars
If selling EVs is such a good business, Tesla should do more, rather than “diversifying” into FSD, energy storage etc.