NIO(US:NIO) 财联社·2025-09-04 07:07Core Viewpoint - NIO has confirmed its collaboration with McLaren, with technology service revenue reaching several hundred million yuan in Q2 2025, primarily driven by technology output to McLaren and other sales growth [1][2]. Group 1: Financial Performance - In Q2 2025, NIO's other sales revenue was 2.8726 billion yuan, representing a 62.6% increase year-on-year and a 37.1% increase quarter-on-quarter [1]. - NIO's total revenue for Q2 2025 was 19.01 billion yuan, showing a 9.0% year-on-year growth and a 57.9% quarter-on-quarter growth, with an overall gross margin of 10.0% [4]. - The company aims to achieve an overall gross margin of 16%-17% by Q4 2025 to reach breakeven [4]. Group 2: Strategic Collaborations - NIO's partnership with McLaren is facilitated by CYVN Holdings, which acquired McLaren and aims to support its transition to electric vehicles [2]. - NIO has signed a technology licensing agreement with Forseven, allowing the use of NIO's electric vehicle platform technology for the development and sales of Forseven-branded vehicles [2]. - NIO is also collaborating with several other automakers, including Changan, Geely, and Chery, on battery swapping technology, although this segment has not yet generated stable revenue [3]. Group 3: Future Outlook - NIO expects non-vehicle business revenue to reach approximately 10 billion yuan annually, with a potential for gross margin to turn positive in Q4 2025 [4]. - The company is set to develop power batteries based on 4680 cylindrical cells for McLaren's hybrid models, with small-scale production expected in 2026 [2].