NIO
William Li
Overview
NIO is a Chinese smart electric vehicle manufacturer built around premium EVs, battery swapping, and a multi-brand portfolio spanning NIO, ONVO, and firefly. By February 2026 it had deployed 3,790 Power Swap Stations worldwide, passed 1 million cumulative vehicle deliveries, and completed 100 million battery swaps. The lineup now includes the ES9, a flagship executive SUV launched in May 2026 on NIO's new 900V architecture, and NIO operates R&D centers and manufacturing facilities across more than 10 locations with a sales and service network spanning 24 countries and regions.
Main Products
Flagship full-size electric sedan with dual-motor AWD, 653 hp, and swappable battery packs. Positions NIO against the BMW 7 Series and Mercedes EQS in the premium sedan segment.
In production and delivery since March 2022. Available with 75 kWh or 100 kWh swappable battery packs.
Mid-size electric SUV and NIO's best-selling model. Dual-motor AWD with 490 hp and swappable battery packs. Refreshed second generation launched in 2023 with updated design and improved efficiency.
In production since 2019, with major refresh in 2023. One of NIO's highest-volume models in the premium SUV segment.
Flagship full-size 6/7-seat electric SUV with dual-motor AWD and 653 hp. NIO's first mass-production vehicle and the largest model in the lineup, featuring swappable battery packs and NIO's premium interior.
The all-new ES8 became NIO's flagship SUV for 2025 and reached 80,000 deliveries by March 20, 2026, leading China's large SUV segment for three straight months.
Executive flagship electric SUV launched in May 2026 on NIO's new 900V high-voltage architecture, with 5C ultra-fast charging alongside NIO's signature 3-minute battery swap. At 5.36 m long on a 3.25 m wheelbase, the ES9 is positioned as a status SUV for China's business elite with Yao Ming serving as Chief Experience Officer.
Officially launched May 27, 2026; nationwide deliveries began May 28. Launch prices came in RMB 30,000 below pre-sale levels across every trim, and NIO's U.S.-listed shares rose roughly 10% on the news.
What's Next
Operations & Revenue
Operational across NIO, ONVO, and firefly, with manufacturing centered in Hefei and a large owned charging-and-swapping network. NIO posted its first quarterly net profit and positive operating profit in Q4 2025, but remained loss-making for the full year while continuing to invest heavily in products, chips, and infrastructure.
Revenue Streams
Primary revenue driver from premium NIO vehicles plus ONVO and firefly models. Vehicle sales totaled RMB76.9B in 2025.
Key Metrics
Timeline
NIO formally launches the ES9 — a 5.36-meter executive SUV on its new 900V architecture with 5C ultra-fast charging and 3-minute battery swap — at a May 27 event with Yao Ming as Chief Experience Officer. Pricing starts at RMB 498,000 (~$69,000) or RMB 390,000 (~$54,000) under Battery-as-a-Service, undercutting pre-sale levels by RMB 30,000. Nationwide deliveries begin May 28.