进入百万台俱乐部的蔚来，决赛圈准备怎么打？

Core Viewpoint - NIO has achieved significant milestones, including the production of its one millionth vehicle, while also expressing a sense of urgency and commitment to continuous improvement and growth in a recent internal communication from CEO Li Bin [1][3]. Sales Performance - In December 2025, NIO delivered 48,135 vehicles, marking a 54.6% year-on-year increase, and in Q4 2025, deliveries reached 124,807 units, up 71.7% year-on-year. The total deliveries for 2025 amounted to 326,028 vehicles, representing a 46.9% increase, all setting new historical records [1][3]. - The new ES8 model achieved a monthly delivery of 22,256 units, setting a record for vehicles priced above 400,000 yuan, and reached 40,000 units in just 100 days post-launch, the fastest in its category [9][12]. Growth Strategy - NIO aims for an annual growth rate of 40-50% in its third growth phase, focusing on maintaining stable and rapid growth [3]. - The company plans to expand into lower-tier markets by opening comprehensive stores for its three brands: NIO, Ladao, and Firefly, with the first batch set to open before the Spring Festival [14]. Technological and Infrastructure Development - NIO's investments in R&D and infrastructure are beginning to yield results, with the launch of its self-developed 925V platform and NX9031 chip enhancing product competitiveness and reducing costs [12][14]. - The expansion of the battery swap network, with nearly 3,700 stations nationwide, has alleviated range anxiety for electric vehicle users, contributing to the sales success of the Ladao L90 and new ES8 models [12][14]. Organizational Efficiency - NIO has undergone significant organizational changes, implementing the CBU (Core Business Unit) mechanism to enhance operational efficiency and focus on core activities, which has improved execution and management stability [16][18]. - The CBU mechanism emphasizes ROI metrics and performance accountability, leading to a more focused approach on vehicle production and sales [18]. Market Outlook - Li Bin predicts that by 2030, the penetration rate of new energy vehicles will exceed 90%, with pure electric vehicles accounting for over 80% of the market, supported by the growing trend towards electrification [19][22]. - The competitive landscape is intensifying, with traditional automakers accelerating their electrification efforts, but NIO remains confident in its technological innovations and infrastructure investments [19][22].