Core Insights - NIO has officially entered a profitable phase, achieving its first quarterly profit under both GAAP and Non-GAAP standards in Q4 2025, marking a significant turnaround from previous struggles [3][18] - The company has outlined ambitious goals for 2026, aiming for full-year Non-GAAP profitability and maintaining a growth rate of 40%-50% [12][27] Group 1: Financial Performance - In Q4 2025, NIO achieved a significant milestone with a total of 60,000 units of the new ES8 delivered within 134 days, contributing to its profitability [5][20] - The overall sales for 2025 increased by 47% year-on-year, with the second half of the year seeing a surge of over 70% [7][22] Group 2: Product and Technology - The success of NIO's new models, particularly the ES8 and the L90, has been pivotal, with the ES8 becoming the best-selling large SUV in its category [5][20] - NIO has introduced advanced technologies, including the self-developed 5nm smart driving chip and a comprehensive operating system, positioning itself as a leader in the industry [7][22] Group 3: Strategic Goals - NIO's development is divided into three phases, with the current phase being the "harvest period," focusing on solidifying profitability and growth [8][23] - The company plans to build 1,000 new battery swap stations and enhance customer experience through operational efficiency [10][25] - Long-term goals include reaching a sales target of 5 million vehicles by 2035, supported by a strong product lineup and technological advancements [12][28]

以下文章来源于晚点Auto ，作者晚点团队 晚点Auto . 从制造到创造，从不可能到可能。《晚点LatePost》旗下汽车品牌。 热销车型背后，李斌着重提到了蔚来的 "新三大件"，即自研智驾芯片神玑 NX9031、SkyOS·天枢全域 操作系统和天行智能底盘，三者均已在 2025 年上车。李斌着重提了 5 纳米制程的神玑 NX9031，称 其量产上车、全链路跑通 "是值得我们为之骄傲的成就"。 基本经营单元（CBU）去年发挥了巨大作用，李斌要求接下来把 CBU 机制继续彻底跑通。"用车做比 方的话，去年我们只能算是做出了概念车，但我们还会持续推行，争取早一点到量产车，争取每年都 能够在经营水平上有进步。" 李斌说。 奖项和讲话内容某种程度上反映了蔚来当前的重点方向。一位与会成员称，李斌在会上特别提到了 "保持技术与产品领先，全面提升研发运营效率" 的目标。"今年还是要抓经营、提效率。" 该员工表 示。 去年，蔚来销量同比增长 47%、下半年同比增长超 70%，并在今年 1 月迎来了第 100 万台量产车下 线。一个月后，蔚来发布四季度盈利预告，预计录得经调整经营利润（非公认会计准则，剔除股权激 励费用）7 ...

季度盈利只是起点，要确保技术和产品领先。 文 丨 龚方毅 《晚点 Auto》独家获悉，2 月 9 日下午，蔚来内部召开了一场全员会，蔚来创始人、董事 长、CEO 李斌分享了对公司 2025 年的总结和对 2026 年的展望，并表彰过去一年的优秀项 目。 和往年相比，今年的表彰增加了 "特别贡献奖"，旨在表彰经营结果突出的团队和项目。全新 ES8 车型战队获得了全场唯一的特等奖。乐道 L90 车型战队、Firefly 萤火虫车型战队、自研芯 片团队、供应链降本团队获得了一等奖。 这几款车型支撑了蔚来 2025 年下半年的增长。其中，全新 ES8 在 134 天内交付 6 万台，是蔚 来去年四季度盈利的主要贡献车型；乐道 L90 连续 3 个月交付破万，它的上市被李斌认为公司 势能回升的开始；萤火虫去年 12 月在高端小车市场的份额为 61%，李斌称其是少数上市后销 量持续走高的车型。 热销车型背后，李斌着重提到了蔚来的 "新三大件"，即自研智驾芯片神玑 NX9031、SkyOS·天枢全域 操作系统和天行智能底盘，三者均已在 2025 年上车。李斌着重提了 5 纳米制程的神玑 NX9031，称 其量产上车、全链路 ...

本次更新还引入了基于NWM的增强车道居中辅助，新增支持在城区路口根据交通信号灯及箭头指示进 行左/右转辅助。新增的"NWM人机共驾"模式允许驾驶员在城区道路实时干预辅助驾驶的行驶方向。此 外，系统增加了全向误加速抑制辅助(MAI)与倒车时对后方立柱、矮墙等障碍物的通用障碍物预警 (GOA)功能。 在智能座舱方面，新增行业首个车端灾害预警；新增AR增强模式下支持转向盲点影像与智能窄道影像 显示等。 凤凰网科技讯2月5日，蔚来汽车开始推送Cedar雪松系统1.4.0版本更新，此次升级主要面向旗舰车型 ET9与全新ES8，涵盖智能辅助驾驶、智能座舱等四大板块，共包含超过80项新增与优化功能。 在智能辅助驾驶方面，基于"蔚来世界模型NWM"的点到点全域领航辅助功能得到增强。城区道路新增 效率换道，优化了变道果断性与路口通过能力；高速场景则提升了上下匝道成功率及施工路段避让能 力。新增的非固定车位收藏功能允许车辆在抵达目标区域前沿途自动搜寻车位并泊入，同时支持预约遥 控泊入。 ...

Key Takeaways NIO opens an Uzbekistan store, marking entry into Asia via a distributor.NIO is shifting to distributors overseas after challenges with its China-style direct sales.NIO plans models in European markets and entry into Australia and New Zealand in 2026.Chinese EV maker NIO Inc. (NIO) continues to push forward with its global expansion, moving beyond China into markets across Europe, Central Asia and the Asia-Pacific region. Over the past few years, the company has steadily expanded its overseas ...

Domestic News - The Ministry of Industry and Information Technology has released a mandatory national standard for automotive door handle safety requirements, effective from January 1, 2027, mandating mechanical release handles for each car door [3] - Nine departments, including the Ministry of Commerce, encourage local governments to increase subsidies for trade-in programs during the Spring Festival, aiming to boost consumer spending on various products [4] - The Ministry of Finance projects that sales of products related to trade-in programs will exceed 2.6 trillion yuan by 2025, benefiting over 360 million people [5] - Shanghai is actively supporting the development of smart connected new energy vehicles and other industries, focusing on modernizing the industrial system and promoting major industrial projects [6] - Guangdong province is supporting multiple regions to advance road testing and demonstration applications for smart connected vehicles, promoting their use in various scenarios [8] - NIO's sub-brand, Ladao, has launched in Uzbekistan, with several models introduced to the market, marking its first entry into overseas markets [9] - Dong'an Power and Lantu Automotive have established a joint innovation center to focus on next-generation efficient range-extending power and rotor engine technologies [10] - Quanzhou City has signed a cooperation agreement with CATL to build a smart zero-carbon battery factory, enhancing the new energy industry ecosystem [11] International News - France's new car sales fell by 6.55% in January, totaling 107,157 vehicles [12][13] - Italy's new car sales increased by 6.2% year-on-year in January, reaching approximately 142,000 vehicles [14] - Tesla has officially announced its entry into the Moroccan market, with a launch event scheduled for February 6, introducing the Model 3 and Model Y [15] - India's 2026 federal budget supports the automotive and electric vehicle industries through various policies aimed at reducing battery manufacturing costs and enhancing supply chain resilience [16] Commercial Vehicles - SAIC Maxus has announced a new vehicle plan, with multiple models including pickups, light trucks, and MPVs set to be released [17] - Iveco has officially launched the new Dedi 8AT model, featuring an 8-speed automatic transmission, enhancing performance while maintaining pricing strategies [18] - The Jiangxi section of the East China-South China expressway has officially opened, featuring 12 new heavy truck battery swap stations to improve logistics efficiency [19] - Dongfeng Motor is advancing the DPW (Dongfeng Production Way) initiative at its Shiyan base to enhance manufacturing competitiveness [20]

Core Viewpoint - The report from Everbright Securities highlights the focus on AI transformation in the automotive industry, particularly among new energy vehicle (NEV) manufacturers, while also addressing the pressure from rising raw material prices affecting profit margins. Group 1: AI Transformation in Automotive Industry - New energy vehicle companies are actively transitioning towards AI, especially in humanoid robotics, with Tesla planning to convert its Model S/X production line for humanoid robots, Xiaopeng announcing mass production of humanoid robots by 2026, and Li Auto establishing a humanoid robot team [1] Group 2: January NEV Performance - In January, the performance of NEVs was weak, with Li Auto's deliveries down 7.5% year-on-year and 37.5% month-on-month to 27,668 units; NIO's deliveries increased by 96.1% year-on-year but decreased by 43.5% month-on-month to 27,182 units; Xiaopeng's deliveries fell 34.1% year-on-year and 46.6% month-on-month to 20,011 units [1] Group 3: New Model Launches - Various NEV manufacturers launched updated models in January to meet tax requirements and enhance product competitiveness, including BYD's long-range versions of the Qin and Sea models, Xiaopeng's new P7+ and G7 models, and AITO's M7 long-range version [2] Group 4: Increased Purchase Incentives - Tesla is offering significant purchase incentives, including an 8,000 yuan insurance subsidy and low-interest financing for its Model 3 and Model Y vehicles, with delivery timelines ranging from 1 to 6 weeks [3] - Li Auto has maintained short delivery timelines for several models and extended purchase subsidies into February, while NIO and Xiaopeng have also introduced low-interest financing options across their vehicle ranges [4]

Group 1: Regulatory and Market Trends - The Ministry of Industry and Information Technology of China has released a mandatory national standard for automotive door handle safety, effective from January 1, 2027 [1] - The China Automobile Dealers Association indicates that the automotive market will enter a phase of adjustment in February 2026, with a consumption index of 31.1 for January, and a predicted decline in sales due to multiple factors including the Spring Festival and tax changes [1] Group 2: Company Performance - SAIC Motor Corporation reported a total vehicle sales of 327,400 units in January 2026, a year-on-year increase of 23.94%, with 85,400 units being electric vehicles, up 39.73% [1] - Dongfeng Nissan announced a delivery of 45,984 vehicles in January 2026, reflecting a year-on-year growth of 5.4%, with the Tianlai Hongmeng model contributing 6,724 units, up 22% [2] - Dongfeng Honda's sales reached 31,377 units in January 2026, marking a 4.4% year-on-year increase, with the CR-V model achieving 19,141 units sold, up 36.4% [3] Group 3: New Ventures and Expansions - Geely Auto has established a new battery company in Baoji with a registered capital of 50 million RMB, focusing on battery manufacturing and sales [4] - NIO has launched its brand "Ladao" in Uzbekistan, marking its entry into the overseas market, with multiple models introduced, and plans to expand into the Americas with a partnership in Costa Rica [5] Group 4: Investment and Valuation - Waymo, a subsidiary of Alphabet, has completed a $16 billion financing round, achieving a post-money valuation of $126 billion, with significant investments from various venture capital firms [6] - Waymo's annual ride volume is projected to more than double to 15 million rides in 2025, with a cumulative total exceeding 20 million rides to date [6]

Market Overview - On February 2, US stock indices opened lower, with the Dow Jones down 0.02%, Nasdaq down 0.41%, and S&P 500 down 0.21% [1] - Cryptocurrency-related stocks fell broadly, with Strategy dropping over 6% [1] - Oracle's stock rose over 3% as the company announced a USD bond issuance plan [1] - Disney's stock fell over 7%, reporting Q1 revenue of USD 25.98 billion, a year-on-year increase of 5% [1] Company News - Nvidia's CEO Jensen Huang clarified that the company's potential USD 100 billion investment in OpenAI was never a commitment, stating that Nvidia will evaluate any financing matters step by step [2] - Reports indicated that negotiations for a collaboration deal worth up to USD 100 billion between Nvidia and OpenAI have stalled [2] Product Development - Tesla announced the upcoming launch of its third-generation humanoid robot, which is expected to learn new skills by observing human behavior, with an anticipated annual production of one million units [3] - Tesla's CEO Elon Musk mentioned that the company is designing the robot from first principles without relying on existing supply chain systems [3] International Expansion - NIO's brand, Ladao, has entered the overseas market, opening its first national general agent store in Uzbekistan in collaboration with local automotive group ABU SAHIY MOTORS [4] - Multiple models, including NIO's ET9, EL8, EL6, ET5, and Ladao's L90 and L60, were launched in Uzbekistan [4] - NIO plans to collaborate with Costa Rica's largest electric vehicle dealer, Horizontes Cielo Azul Movilidad, to introduce the Ladao brand to the Americas this year [4]

Core Insights - NIO reported a strong sales performance with 27,182 vehicles delivered in January 2026, marking a year-on-year growth of 96.1% [2] - The total cumulative deliveries have surpassed 1 million units, reaching 1,024,774 vehicles, solidifying NIO's position in the high-end electric vehicle market [2] - The new ES8 model celebrated its 60,000th owner within just 134 days of launch, indicating robust demand for large electric SUVs [2] Group 1: Sales Performance - NIO delivered 27,182 vehicles in January 2026, achieving a remarkable year-on-year growth of 96.1% [2] - The cumulative delivery milestone of 1,024,774 vehicles has been reached, officially crossing the 1 million mark [2] - The new ES8 model reached 60,000 deliveries in only 134 days, showcasing strong market demand [2] Group 2: Product and Technology - NIO continues to lead in technology upgrades with the rollout of the latest 1.4.0 version of its intelligent system across multiple models [2] - The new features include enhanced world model-assisted driving capabilities, promising a smarter and safer driving experience [2] Group 3: Financial and Service Initiatives - NIO introduced attractive financing options with a 7-year low-interest purchase plan, offering rates as low as 0.49% [3] - The company announced that its global battery swap network has surpassed 99 million swaps, expected to reach 100 million soon, reflecting user acceptance of the battery swap model [3]