Nio reports increased quarterly loss and disappointing revenue

Nio, a Chinese electric vehicle maker, reported a wider loss for the fourth quarter of 2024. The company lost 7.13 billion yuan (about $983.7 million), up from a loss of 5.59 billion yuan a year earlier. Analysts had expected a smaller loss of 5.53 billion yuan. Despite the loss, Nio's revenue increased by 15 percent, reaching 19.7 billion yuan. However, this fell short of the expectation of 20.13 billion yuan. Founder and CEO William Li Bin stated that 2025 marks the start of a new product cycle for Nio's three brands. For the first quarter of 2025, Nio expects vehicle deliveries to rise between 36 percent to 43 percent, aiming for 41,000 to 43,000 units. Projected revenues for this period are between 12.37 billion to 12.86 billion yuan, which is still below analyst expectations of 17.85 billion yuan. Li highlighted that the premium Nio brand will focus on technology and experience, while the mass-market Onvo brand aims to improve sales. Additionally, the Firefly brand, targeting middle-income consumers, is set to start deliveries in April and will support Nio's international growth. Nio's Chief Financial Officer, Stanley Yu Qu, emphasized the company's goal of improving profitability through cost reductions, better operational efficiency, and scalable growth initiatives.