NIO(US:NIO) Xin Lang Cai Jing·2026-01-02 05:15Core Viewpoint - NIO has reported record vehicle deliveries in 2025, with a total of 326,028 vehicles delivered, marking a 46.9% year-on-year increase, indicating a return to a high growth trajectory [1][10]. Group 1: 2025 Performance Highlights - In December 2025, NIO delivered 48,135 vehicles, a 54.6% increase year-on-year, with Q4 deliveries reaching 124,807, up 71.7% [3][10]. - The three brands (NIO, Ladao, and Firefly) achieved record quarterly deliveries, with NIO delivering 67,433 vehicles in Q4, Ladao 38,290 vehicles (up 92.1%), and Firefly 19,084 vehicles (up 52.8% from the previous month) [3][10]. - The Ladao L90 became the best-selling large pure electric SUV, while the new ES8 set a record for monthly deliveries of over 400,000 yuan models [3][10]. Group 2: 2026 Strategic Goals - NIO plans to continue investing in its 12 core full-stack technologies to maintain a technological edge and will add over 1,000 battery swap stations in 2026, bringing the total to over 4,600 by year-end [2][9][15]. - The company aims to strengthen its sales and service network, covering over 210 prefecture-level cities while focusing on both the Chinese market and global expansion into 40 countries and regions [2][9][15]. - Organizational changes will be deepened to enhance operational efficiency and cost control, ensuring that every expenditure is justified [15]. Group 3: Industry Context and Future Outlook - The smart electric vehicle industry is entering a decisive phase, with increasing competition and rapid technological upgrades [6][9]. - By 2030, it is projected that the penetration rate of new energy vehicles in China's new car market will exceed 90%, with pure electric vehicles accounting for over 80% of new energy vehicles [14]. - NIO's confidence stems from its sustained investment in technology innovation and battery swap infrastructure, which is proving to be the right strategic direction [13][14].