（文章来源：北京商报） 9月2日，蔚来创始人、董事长、CEO李斌在2025年二季度财报电话会上表示，蔚来品牌2026年将推出两 款大SUV ，一款是ES9，另一款是大五座SUV ES7，加上乐道L80，公司明年将有 3 款新的大SUV车型 交付。 ...

（文章来源：每日经济新闻） 9月2日，蔚来创始人、董事长李斌在蔚来2025年第二季度业绩电话会上透露，蔚来今年第四季度交付目 标为15万辆，平均每月交付5万辆。 ...

记者丨毕凤至 三季度交付指引87000台至91000台，同比增长40.7%至47.1%；三季度营收指引218.1亿元至228.8亿元， 均创历史新高。 截至北京时间9月2日20:24，蔚来美股盘前涨1.41%，此前一度跌约20%。 编辑丨叶映橙 北京时间9月2日，蔚来发布2025年二季度财报： 值得一提的是，昨日（9月1日），蔚来刚公布了8月交付成绩单： 二季度交付72056台，同比增长25.6%，环比增长71.2%。 蔚来公司交付新车31305台，同比增长55.2%，创历史新高。其中，蔚来品牌交付新车10525台；乐道品 牌交付新车16434台；firefly萤火虫品牌交付新车4346台。截至目前，蔚来公司已累计交付新车838036 二季度营收190.1亿元，同比增长9.0%，环比增长57.9%。 二季度综合毛利率10%，环比显著提升。 二季度现金储备272亿元。 台。其中，蔚来品牌累计交付新车748448台；乐道品牌累计交付新车75033台；firefly萤火虫品牌累计交 付新车14555台。乐道L90上市首月交付10575台，是蔚来公司历史上销量破万最快的车型。 （声明：文章内容仅供参考，不构成投资建议 ...

人民财讯9月2日电，9月2日，蔚来创始人、董事长、CEO李斌在2025年二季度财报电话会上表示，今年 公司研发体系做了非常多提效工作，产出ROI提高明显。明年基本会保持每个季度20亿至25亿元研发投 入，以此来保证长期竞争力，研发投入主要为新车型开发。 转自：证券时报 ...

凤凰网科技讯 9月2日，蔚来创始人、董事长、CEO李斌在2025年二季度财报电话会上表示，蔚来品牌 明年会推出两款大SUV，一款是ES9，一款是大五座 SUV ES7。加上乐道L80，公司明年会有三款新的 大SUV车型交付。 ...

人民财讯9月2日电，9月2日，李斌在蔚来2025年二季度财报电话会上表示，蔚来公司长期努力的目标是 毛利率实现20%。其中，蔚来品牌目标毛利率实现20%，并在此基础上往25%努力。乐道品牌毛利率将 在15%毛利率基础上争取实现更高毛利率。萤火虫毛利率是10%左右。公司在产品定义时已经做好充分 准备，为激进定价进行较强的成本支撑，蔚来公司新一代产品有充分的成本竞争力，这是基于长期自研 技术积累已经成本控制措施达到的降本能力。 ...

北京商报讯（记者 蔺雨葳）9月2日，蔚来创始人、董事长、CEO李斌在2025年二季度财报电话会上表 示，乐道L90订单情况超过预期，在交付首月即达到了1.06万辆。目前正与供应链合作伙伴一起继续提 升产能，以尽快满足强劲的市场需求。 ...

NIO (NIO) Q2 2025 Earnings Call September 02, 2025 08:00 AM ET Company ParticipantsRui Chen - Head - Investor RelationsStanley Qu - CFOJeff Chung - Director - Equity ResearchBen Wang - DirectorMing Hsun Lee - MD - Head of Greater China Auto ResearchPaul Gong - Executive DirectorYuqian Ding - Head - China AutoTina Hou - VP & Head - China Autos Equity ResearchConference Call ParticipantsTim Hsiao - Equity AnalystJing Chang - AnalystOperatorHello, ladies and gentlemen. Thank you for standing by for NIO Incorpo ...

Financial Data and Key Metrics Changes - In Q2 2025, total revenues reached ¥19 billion, an increase of 9% year over year and 57.9% quarter over quarter [38] - Vehicle sales were ¥16.1 billion, up 2.9% year over year and 62.3% quarter over quarter [38] - Vehicle gross margin was 10.3%, compared to 12.2% in Q2 last year and 10.2% last quarter [39] - Overall gross margin was 10%, down from 39.7% in Q2 last year but up from 7.6% last quarter [39] - Non-GAAP operating loss narrowed more than 30% quarter over quarter [10] Business Line Data and Key Metrics Changes - The company delivered 72,056 smart electric vehicles in Q2, a 25.6% increase year over year [5] - The ONVO L90 achieved a historical high of 10,575 deliveries in its first full month [18] - Over 10,000 Firefly vehicles were delivered within three months, making it the best-selling model in the high-end small EV market [21] Market Data and Key Metrics Changes - NIO's power swap network includes 3,542 stations worldwide, with over 1,000 on highways in China [26] - The company has provided over 84 million swaps to users, significantly reducing range anxiety [26] - The market for large three-row battery electric SUVs is growing, with a 39% year-over-year increase in the BEV segment [120] Company Strategy and Development Direction - The company is focusing on a multi-brand strategy to capture greater market shares across various segments [34] - Continuous investment in technology innovation and infrastructure is expected to enhance market competitiveness [28] - The launch of the all-new ES8 and ONVO L90 is anticipated to drive the transition towards full electrification in the large SUV market [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a substantial improvement in financial performance due to rising sales and improving gross margins [35] - The company aims for a quarterly non-GAAP break-even target in Q4 2025 [59] - The competitive landscape is shifting towards battery electric vehicles, with a growing user acceptance and demand for large SUVs [120] Other Important Information - R&D expenses were ¥3 billion, a decrease of 6.6% year over year and 5.5% quarter over quarter [39] - SG&A expenses were ¥4 billion, up 5.5% year over year but down 9.9% quarter over quarter [40] - The company operates 176 NIO Houses and 416 NIO Spaces, along with 388 service centers [24] Q&A Session Summary Question: Updates on ES8 and L90's capacity ramp and delivery targets - Management confirmed that they expect to achieve a monthly delivery target of 50,000 units across all brands in Q4 2025, with specific targets for the L90 and ES8 [45][46] Question: Gross profit margin expectations for Q4 - Management anticipates vehicle gross margins to improve to 16% to 17% in Q4, with specific targets of 20% for the L90 and ES8 [49][50] Question: R&D and SG&A expense guidance for Q3 and Q4 - R&D expenses are expected to remain around ¥2 billion per quarter, while SG&A expenses are targeted to be within 10% of sales revenue in Q4 [59][62] Question: New model pipeline for 2026 - Management confirmed plans for three large SUV models and emphasized that no new models will be launched in 2025 due to capacity constraints [97][100] Question: Impact of the 100 kWh battery on financials - The introduction of the 100 kWh battery as a standard configuration is expected to have a positive impact on sales leads without major changes to vehicle margins [107][108] Question: Cost savings from self-developed chips - Management indicated that while the cost savings per unit from in-house developed chips are not directly tied to delivery volumes, the overall cost structure remains competitive [111][112]

Core Viewpoint - NIO's CFO Qu Yu announced during the Q2 2025 earnings call that the company aims to achieve full quarterly deliveries of the L90 and the new ES8 in Q4, with a target gross margin of 16% to 17% to reach breakeven for the quarter [2] Group 1 - NIO plans to achieve complete quarterly deliveries of the L90 and new ES8 by Q4 [2] - The company targets a gross margin of 16% to 17% for Q4 [2] - The goal is to reach breakeven for the quarter [2]