Chinese Battery-Swap EV-Maker Nio Turns First Profit
By Reuters | 05 Feb, 2026

Q4 deliveries jumped 72% on year, producing an operating profit estimated at $100 - 173 million.

Chinese electric-vehicle maker Nio said on Thursday it expects to post its first-ever adjusted operating profit in the fourth quarter of 2025, driven by higher vehicle sales and cost cuts.

The company's U.S.-listed shares rose more than 8% in premarket trading.

Nio expects quarterly adjusted operating profit of 700 million yuan ($100.84 million) to 1.2 billion yuan ($172.88 million), compared with an adjusted operating loss of 5.54 billion yuan a year earlier.

The company attributed the turnaround primarily to a sharp increase in deliveries during the quarter, a more favorable product mix that lifted vehicle margins, and continued efforts to cut costs and improve operational efficiency.

It delivered 124,807 vehicles in the fourth quarter, up 72% from a year earlier.

Nio has been streamlining operations amid intense competition and a prolonged price war in China's crowded EV market.

For the full year, the company delivered 326,028 vehicles, up 47% from a year earlier, driven largely by strong demand for its premium models, including the ET5 and ES6.

Nio also began deliveries of its lower-cost Firefly subcompact EV midway through the year, broadening its customer base and adding incremental volume.

The company last month vowed to continue to advance its business operations in Europe after the European Commission set out the conditions for China-made EV makers to replace EU tariffs with minimum price plans.

($1 = 6.9414 Chinese yuan renminbi)

(Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)