Bei Jing Shang Bao·2025-09-21 08:09Core Viewpoint - NIO is accelerating its investment and layout in the pure electric vehicle sector, launching new models ET9 Horizon Special Edition and the new ES8, signaling a shift in market strategy to remain competitive [1][3]. Pricing Strategy - The ET9 Horizon Special Edition is priced starting at 818,000 yuan for full purchase and 710,000 yuan for battery rental, with deliveries starting at the end of September [3]. - The new ES8 has a starting price of 406,800 yuan, reduced by 10,000 yuan from its pre-sale price in August, with deliveries commencing on September 21 [3]. - The pricing strategy aims to address a gap in the 400,000 yuan price range, which has been a challenge for NIO due to previous high pricing [3][4]. Market Trends - NIO's chairman predicts that 2025 will mark a turning point for the pure electric three-row SUV market, as user experience from electric technology begins to outweigh the inconveniences of charging [3][4]. - The company is responding to industry trends by adjusting its product offerings and pricing to better align with market demands [3][5]. Infrastructure Development - NIO has invested heavily in its charging and battery swap network, with a total of 8,246 charging and battery swap stations built across the country, leading the industry [4]. Financial Performance - NIO has completed a financing round of 1.16 billion USD, following a previous 1 billion USD round just a week earlier, indicating a high reliance on external funding due to ongoing losses [4]. - Cumulative losses since the company's inception in 2014 have exceeded 130 billion yuan, with a net loss of 4.995 billion yuan reported in Q2 2025, despite a 9% year-on-year revenue increase to 19 billion yuan [4]. - The revenue guidance for Q3 2025 is projected to reach between 21.81 billion yuan and 22.88 billion yuan, marking a historical high [4]. Competitive Landscape - The electric vehicle market is transitioning from incremental competition to stock competition, intensifying the competitive landscape, especially as government subsidies decline [5][6]. - NIO faces significant pressure to improve its cost-effectiveness and achieve profitability before the market shifts to a more competitive environment [6].