NIO Inc. Reports Unaudited Fourth Quarter and Full Year 2024 Financial Results

SHANGHAI, China, March 21, 2025 -- NIO, a pioneer and a leading company in the global smart electric vehicle market, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024.

Operating Highlights for the Fourth Quarter and Full Year of 2024
· Vehicle deliveries were 72,689 in the fourth quarter of 2024, consisting of 52,760 vehicles from the Company’s premium smart electric vehicle brand NIO and 19,929 vehicles from the Company’s family-oriented smart electric vehicle brand ONVO, representing an increase of 45.2% from the fourth quarter of 2023, and an increase of 17.5% from the third quarter of 2024.
·Vehicle deliveries were 221,970 in 2024, representing an increase of 38.7% from 2023.

Financial Highlights for the Fourth Quarter and Full Year of 2024
· Vehicle margin was 13.1% in the fourth quarter of 2024, compared with 11.9% in fourth quarter of 2023 and 13.1% in the third quarter of 2024.
· Total revenues were RMB19,703.4 million (US$2,699.4 million) in the fourth quarter of 2024, representing an increase of 15.2% from the fourth quarter of 2023 and an increase of 5.5% from the third quarter of 2024.
· Cash and cash equivalents, restricted cash, short-term investment and long-term time deposits were RMB41.9 billion (US$5.7 billion) as of December 31, 2024.
· Vehicle margin was 12.3% for the full year of 2024, compared with 9.5% for the previous year.
· Total revenues were RMB65,731.6 million (US$9,005.2 million) for the full year of 2024, representing an increase of 18.2% from the previous year.