蔚来和江淮于2021年在安徽合肥合资成立了一家公司，双方各占50%的股份，近日，南都记者获悉，这 家合资公司拟注销。据天眼查App，江来先进制造技术（安徽）有限公司（简称"江来制造"）新增1条 注销备案公告，注销原因为决议解散。 值得一提的是，天眼查App抓取的参保人数显示，该公司的参保人数从2021年开始增长，2023年的巅峰 值达到4620人，到2024年缩减至104人。 蔚来和江淮的绑定，源于蔚来此前没有造车资质，需要由江淮代工，在早一批的蔚来车尾部都有"江淮 汽车"标识。从2023年起，蔚来逐步从江淮收购了第一先进制造基地和第二先进制造基地的生产设备， 即现在的蔚来F1工厂和蔚来F2工厂，并获得了造车资质。因此，上述合资公司决议解散也在预期之 中。 累计亏千亿，李斌称"钱都亏在明处" 在江来制造决议解散消息发酵的前一天，7月6日，蔚来创始人、董事长兼CEO李斌在蔚来工厂内进行了 一场直播，为蔚来第二品牌乐道的第二款车型L90预热。他还从正面的角度解读了蔚来的亏损，"蔚来 是全球唯一的在三地上市的汽车公司，蔚来财报里把研发投入计成当期费用钱都亏在明处，资产负债表 非常干净。" | ● 天眼育 | | 最 ...

Core Viewpoint - NIO emphasizes its commitment to technological innovation, with a cumulative R&D investment of 60 billion RMB, while maintaining a transparent financial approach regarding its losses and expenditures [2][3]. Group 1: Financial Performance - NIO reported a revenue of approximately 12.03 billion RMB for Q1 2025, representing a year-on-year growth of over 21% [2]. - The gross margin for vehicles was recorded at 10%, while the net loss attributable to shareholders was 6.891 billion RMB [2]. - Cumulative losses for NIO have exceeded 100 billion RMB, highlighting the significant financial challenges faced by the company [2]. Group 2: R&D and Strategic Focus - The majority of NIO's losses are attributed to R&D and the establishment of charging and battery swap networks, reflecting the company's strategic priorities [3]. - NIO is the only automotive company listed in three different markets, which underscores its unique position in the industry [3]. - The company has invested close to 60 billion RMB in R&D, yet its intangible assets are only valued at 4 million USD, indicating a high level of transparency in financial reporting [3].