NIO, a Chinese electric vehicle company, announced its financial report for the year 2025 on March 10th. According to the data, the company reported a net loss of 14.943 billion yuan for the full year, showing a slight decrease compared to the previous year, but accumulating losses of about 110 billion yuan over the past 8 years.
Reports from various media outlets, including “The First Financial Daily,” on March 10th revealed that NIO’s full-year performance for 2025 showed a total revenue of 874.88 billion yuan, a 33.1% year-on-year increase. However, despite this revenue growth, the company still recorded a net loss of 14.943 billion yuan for the year, narrowing the loss by 33.3% from the 22.4 billion yuan loss in 2024.
The financial report indicated that in 2025, NIO delivered a total of 326,000 vehicles, a 46.9% increase from the previous year. Despite achieving a first-quarter profit of 1.25 billion yuan in the fourth quarter, the company accumulated a loss of 15.366 billion yuan in the first three quarters, remaining in a loss-making position for the full year.
Meanwhile, the company continues to face significant cost pressures. In the fourth quarter of 2025, the sales cost reached 28.576 billion yuan, a 64.3% increase compared to the previous year, mainly due to the increase in delivery volume and rising material costs due to product structure changes.
In terms of funding, by the end of 2025, NIO held a total of 45.9 billion yuan in cash and cash equivalents, and short-term investments. However, the company’s current liabilities still exceed current assets, indicating ongoing financial pressure.
According to reports from “Beijing Business Daily,” NIO successfully reversed its previous trend of continuous losses in the fourth quarter. Nevertheless, industry insiders believe that quarterly profit does not mean the company has completely emerged from the loss cycle. The operation of the battery swapping network still requires significant investment, and the rapid iteration of smart electric vehicle technology poses a continuous challenge for ongoing research and development.
Media statistics show that from 2018 to 2024, NIO’s accumulated losses exceeded 95 billion yuan. With an additional loss of about 15 billion yuan in 2025, NIO’s total accumulated losses over 8 years amount to approximately 110 billion yuan.
Currently, in China’s new energy vehicle industry, losses remain a common phenomenon.
Regarding the performance forecasts disclosed by several car companies in January of this year, GAC Group expects a net loss of 8 to 9 billion yuan in 2025, compared to a loss of about 4.35 billion yuan in 2024. BAIC Group’s BAIC Blue Valley subsidiary anticipates a loss of 4.35 to 4.65 billion yuan for 2025.
Additionally, JAC Motors expects a net loss of 1.68 billion yuan in 2025. Media analysis indicates that in the first three quarters of 2025, six emerging new energy vehicle companies, including XPeng Motors, collectively reported a net loss of about 10.7 billion yuan.