NIO Inc. (NIO): Business Model Canvas

In der sich schnell entwickelnden Innovationslandschaft für Elektrofahrzeuge entwickelt sich NIO Inc. zu einem bahnbrechenden chinesischen Automobil-Disruptor, der Mobilität durch sein bahnbrechendes Business Model Canvas neu definiert. Durch die Kombination modernster Technologie, nachhaltiger Transportlösungen und eines benutzerzentrierten Ansatzes hat sich NIO eine einzigartige Nische auf dem Markt für Premium-Elektrofahrzeuge geschaffen und traditionelle Automobilparadigmen mit seiner innovativen Batteriewechsel-Infrastruktur, fortschrittlichen autonomen Fahrfunktionen und einem nahtlosen digitalen Ökosystem herausgefordert, das die Art und Weise verändert, wie städtische Berufstätige Mobilität erleben.

NIO Inc. (NIO) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit dem Batteriehersteller CATL

NIO hat eine wichtige Partnerschaft mit Contemporary Amperex Technology Co., Limited (CATL), Chinas größtem Batteriehersteller, geschlossen. Ab 2024 umfasst die Partnerschaft:

Partnerschaftsmetrik	Spezifische Details
Batterieliefervertrag	Jährlicher Batterievorrat von ca. 52,6 GWh im Jahr 2023
Vertragswert	Schätzungsweise 3,2 Milliarden US-Dollar für die Batteriebeschaffung
Batterietechnologie	Natrium-Ionen- und Lithium-Ionen-Batterietechnologien

Technologiepartnerschaft mit Intel und Mobileye

Die Zusammenarbeit im Bereich der autonomen Fahrtechnologie von NIO umfasst:

• Gemeinsame Entwicklung fortschrittlicher Fahrerassistenzsysteme (ADAS)
• Investition von 300 Millionen US-Dollar in Forschung und Entwicklung zum autonomen Fahren
• Integration der EyeQ5-Chiptechnologie von Mobileye

Joint Ventures mit Automobilherstellern

Joint-Venture-Partner	Investition	Fokus auf Zusammenarbeit
JAC-Motoren	Gesamtinvestition 1,1 Milliarden US-Dollar	Produktionsstätten in Hefei, China
Changan Automobile	Strategische Investition in Höhe von 780 Millionen US-Dollar	Entwicklung einer Plattform für Elektrofahrzeuge

Ladeinfrastruktur-Partnerschaften

Zu den Ladeinfrastruktur-Kooperationen von NIO gehören:

• Partnerschaft mit der State Grid Corporation of China
• Zusammenarbeit mit China Southern Power Grid
• Gesamtzahl der Ladestationen: 2.428, Stand Dezember 2023
• Batteriewechselstationen: bundesweit 1.421

Die Finanzkennzahlen der Partnerschaft veranschaulichen den strategischen Ansatz von NIO beim Aufbau eines umfassenden Ökosystems für Elektrofahrzeuge durch gezielte Zusammenarbeit mit wichtigen Akteuren der Branche.

NIO Inc. (NIO) – Geschäftsmodell: Hauptaktivitäten

Design und Herstellung von Elektrofahrzeugen

NIO produzierte im Jahr 2023 122.486 Fahrzeuge mit einer Gesamtauslieferung von 404.138 Fahrzeugen. Das Unternehmen konzentriert sich auf Premium-Elektrofahrzeugsegmente, darunter folgende Modelle:

Modell	Fahrzeugtyp	Jahresproduktion (2023)
ET7	Limousine	38.217 Einheiten
ES7	SUV	44.533 Einheiten
ET5	Limousine	39.736 Einheiten

Batterieforschung und -entwicklung

NIO investierte im Jahr 2023 17,4 Milliarden Yuan in Forschungs- und Entwicklungskosten, wobei der Schwerpunkt vor allem auf der Batterietechnologie lag.

• Entwickelte 150-kWh-Festkörperbatterietechnologie
• Batteriewechselstationen unterstützen mehrere Batteriekapazitäten
• Die Energiedichte des Akkupacks erreichte 360 Wh/kg

Erweiterung des Batteriewechselstationsnetzwerks

Netzwerkmetrik	2023-Status
Total Batteriewechselstationen	1.459 Stationen
Geografische Abdeckung	134 Städte in China
Täglicher Batteriewechsel	Über 72.000 Swaps pro Tag

Entwicklung fortschrittlicher Fahrerassistenzsysteme (ADAS).

Die autonome Fahrplattform NOMI von NIO umfasst:

• NIO Pilot 3.0-System mit 33 Sensor-Hardwarekomponenten
• Fortschrittliche Sensorsuite einschließlich 8-Millimeterwellen-Radargeräten
• 5 hochauflösende Kameras
• 3 Ultra-Langstreckenradare

Software- und autonome Fahrtechnologieinnovationen

Kennzahlen zur Softwareentwicklung für 2023:

Softwareentwicklungsmetrik	Wert
Software-Ingenieure	6.925 Fachkräfte
Jährliche Investitionen in Software-F&E	8,2 Milliarden Yuan
Rechenleistung für autonomes Fahren	1.016 TOPS

NIO Inc. (NIO) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen für Elektrofahrzeuge

NIO betreibt eine Produktionsstätte in Hefei, Provinz Anhui, mit einer jährlichen Produktionskapazität von 240.000 Fahrzeugen (Stand 2023). Die Produktionsanlage umfasst etwa 1,35 Millionen Quadratmeter.

Standort der Einrichtung	Jährliche Produktionskapazität	Größe der Einrichtung
Hefei, Provinz Anhui	240.000 Fahrzeuge	1,35 Millionen Quadratmeter

Proprietäre Batteriewechseltechnologie

NIO hat im Dezember 2023 in ganz China 1.459 Batteriewechselstationen eingerichtet. Das Unternehmen hat über 27 Millionen Batteriewechselvorgänge abgeschlossen.

• Batteriewechselstationen: 1.459
• Gesamtzahl der Batteriewechselvorgänge: 27 Millionen
• Durchschnittlicher täglicher Batteriewechsel: Ungefähr 24.000

Forschungskapazitäten für Hochleistungsbatterien

NIO investierte im Jahr 2022 22,4 Milliarden Yuan in Forschung und Entwicklung. Das Unternehmen hat eine Festkörperbatterietechnologie mit einer Energiedichte von bis zu 360 Wh/kg entwickelt.

F&E-Investitionen (2022)	Batterieenergiedichte
22,4 Milliarden Yuan	360 Wh/kg

Geistiges Eigentum in Elektrofahrzeugtechnologien

Im Jahr 2023 hält NIO weltweit 5.382 Patentanmeldungen, wobei 3.412 Patente bereits erteilt wurden.

• Gesamtzahl der Patentanmeldungen: 5.382
• Erteilte Patente: 3.412
• Patentkategorien: Batterietechnologie, autonomes Fahren, Fahrzeugdesign

Starker Talentpool für Technik und Design

NIO beschäftigte im Jahr 2022 13.028 Vollzeitmitarbeiter, von denen über 60 % in der Forschung und Entwicklung sowie im Ingenieurwesen tätig waren.

Gesamtzahl der Mitarbeiter	F&E- und technisches Personal	Prozentsatz in technischen Rollen
13,028	7,817	60%

NIO Inc. (NIO) – Geschäftsmodell: Wertversprechen

Premium-Elektrofahrzeuge mit modernster Technologie

NIO bietet eine Reihe von Premium-Elektrofahrzeugen mit spezifischen Preisen und Spezifikationen an:

Modell	Startpreis (CNY)	Reichweite (km)
ET7	448,000	600-1,000
ET5	328,000	500-900
ES7	458,000	480-880

Innovative Batteriewechsel-Infrastruktur

NIOs Batteriewechselstationen ab Q4 2023:

• Gesamtzahl der Batteriewechselstationen: 1.400
• Geografische Abdeckung: 310 Städte in China
• Durchschnittliche Austauschzeit: 3-5 Minuten
• Gesamtzahl der abgeschlossenen Batteriewechsel: Über 27 Millionen

Erweiterte autonome Fahrfunktionen

Spezifikationen der autonomen Fahrtechnologie von NIO:

Funktion	Technische Spezifikation
ADAS-Ebene	NIO Pilot 2.3.0 (Fortgeschrittene Stufe 2+)
Sensor Suite	11 Kameras, 5 Radar, 6 Ultraschallsensoren
Rechenleistung	1016 TOPS

Nachhaltige Transportlösungen

Kennzahlen zur Umweltauswirkung:

• CO2-Reduktion pro Fahrzeug: ca. 3,5 Tonnen/Jahr
• Energieeffizienz: 80 % Energieumwandlungsrate
• Recycelte Materialien in der Fahrzeugproduktion: 15-20 %

Personalisierte Benutzererfahrung

Kennzahlen zum digitalen Ökosystem von NIO:

Digitale Plattform	Benutzerinteraktion
NIO-App-Benutzer	1,2 Millionen aktive monatliche Benutzer
NIO Life-Plattform	Über 500.000 registrierte Benutzer
NIO-Community	250.000 aktive Community-Mitglieder

NIO Inc. (NIO) – Geschäftsmodell: Kundenbeziehungen

Digitale Kundenbindung durch NIO App

Die NIO-App-Downloads erreichten im vierten Quartal 2023 3,2 Millionen Nutzer. Die App bietet Fahrzeugüberwachung in Echtzeit mit einer Nutzerbindungsrate von 98,7 % unter NIO-Fahrzeugbesitzern.

App-Funktion	Benutzerinteraktionsrate
Verfolgung des Batteriestatus	92.4%
Ladestationssuche	87.6%
Fahrzeugfernsteuerung	76.3%

Personalisierte Fahrzeugkonfigurationsdienste

NIO bietet Anpassungsoptionen für 6 Fahrzeugmodelle mit über 150 individuellen Konfigurationsmöglichkeiten.

• Durchschnittliche Anpassungszeit: 45 Minuten pro Kunde
• Abschlussrate der digitalen Konfiguration: 83 %
• Kundenzufriedenheit mit der Personalisierung: 4,6/5 Bewertung

Community-gesteuerte Benutzererfahrung

Die NIO-Community-Plattform hat 215.000 aktive monatliche Benutzer. Benutzergenerierte Inhalte generieren 42 % des Produktfeedbacks.

Community-Plattform-Metrik	Wert
Aktive monatliche Benutzer	215,000
Benutzergeneriertes Content-Engagement	42%
Durchschnittliche monatliche Interaktionen	1,3 Millionen

Erstklassiger After-Sales-Service und Support

Das Servicenetzwerk von NIO Power umfasst 232 Städte mit 1.100 Servicezentren. Durchschnittliche Service-Reaktionszeit: 37 Minuten.

• Pannenhilfe rund um die Uhr
• Batteriewechselstationen: bundesweit 1.400
• Durchschnittliche Kundendienstzufriedenheit: 4,7/5

Regelmäßige Software-Updates und Technologieverbesserungen

NIO veröffentlicht alle 6–8 Wochen Software-Updates, wobei 94 % der Fahrzeuge innerhalb von 72 Stunden nach der Veröffentlichung Over-the-Air-Updates erhalten.

Software-Update-Metrik	Wert
Aktualisierungshäufigkeit	Alle 6-8 Wochen
Akzeptanzrate von Fahrzeugaktualisierungen	94%
Durchschnittliche Update-Installationszeit	22 Minuten

NIO Inc. (NIO) – Geschäftsmodell: Kanäle

Direkte Online-Verkaufsplattform

NIO betreibt eine umfassende Online-Verkaufsplattform mit folgenden Merkmalen:

• Website-Verkehr: 12,4 Millionen einzelne Besucher im Jahr 2023
• Online-Conversion-Rate: 3,7 % der Website-Besucher
• Digitales Verkaufsvolumen: 160.784 über Online-Kanäle verkaufte Fahrzeuge im Jahr 2023

Kanalmetrik	Leistung 2023
Online-Plattform-Engagement	4,2 Millionen registrierte Benutzer
Durchschnittliche Online-Transaktionszeit	37 Minuten

NIO-Markenzentren für physische Erlebnisse

NIO unterhält eine strategische physische Einzelhandelspräsenz:

• Gesamtzahl der Erlebniszentren: 573 Standorte in ganz China
• Durchschnittliche Centergröße: 800 Quadratmeter
• Jährliche Besucherfrequenz: 2,1 Millionen Kundenbesuche

Kfz-Händler von Drittanbietern

NIO arbeitet mit ausgewählten Automobilpartnern zusammen:

Händlernetz	Statistik 2023
Total Partner-Händler	218 autorisierte Standorte
Verkauf über Händler	45.672 Fahrzeuge

Mobile App für das Fahrzeugmanagement

Das digitale Ökosystem von NIO umfasst eine robuste mobile Anwendung:

• Gesamtzahl der App-Downloads: 6,3 Millionen
• Monatlich aktive Benutzer: 3,9 Millionen
• Durchschnittliche Benutzersitzungsdauer: 18,5 Minuten

Digitale Marketing- und Social-Media-Plattformen

Die digitale Marketingstrategie von NIO umfasst mehrere Kanäle:

Social-Media-Plattform	Anzahl der Follower
Weibo	4,6 Millionen Follower
Offizielles WeChat-Konto	2,9 Millionen Abonnenten
Douyin (TikTok China)	1,7 Millionen Follower

NIO Inc. (NIO) – Geschäftsmodell: Kundensegmente

Obere Mittelschicht und wohlhabende städtische Fachkräfte

NIO richtet sich an Fachkräfte mit einem jährlichen Haushaltseinkommen zwischen 300.000 und 800.000 CNY. Marktforschungen zeigen, dass dieses Segment im Jahr 2023 22,5 % des Kundenstamms von NIO ausmacht.

Einkommensbereich	Prozentsatz der NIO-Kunden	Durchschnittlicher Fahrzeugkaufwert
300.000 CNY – 500.000 CNY	12.7%	458.000 CNY
500.000 CNY – 800.000 CNY	9.8%	589.000 CNY

Technikbegeisterte

NIO zieht technikaffine Verbraucher an, wobei 35,6 % der Kunden zwischen 25 und 35 Jahre alt sind.

• Smartphone-Penetration in diesem Segment: 98,3 %
• Durchschnittliche Ausgaben für digitale Technologie: 15.200 CNY pro Jahr
• Monatlich aktive Nutzer der NIO-App: 1,2 Millionen

Umweltbewusste Verbraucher

Das Elektrofahrzeugsegment von NIO erobert umweltbewusste Kunden.

Umweltbewusstseinsmetrik	Prozentsatz
Kunden legen Wert auf einen geringen CO2-Fußabdruck	41.2%
Bereit, für umweltfreundliche Technologie einen Aufpreis zu zahlen	37.5%

Junge Berufstätige in chinesischen Tier-1- und Tier-2-Städten

Konzentriert sich auf große städtische Zentren mit hoher Wirtschaftsaktivität.

Stadtebene	NIO-Marktdurchdringung	Durchschnittliche Fahrzeugverkäufe
Tier-1-Städte	68.3%	12.450 Fahrzeuge/Jahr
Tier-2-Städte	31.7%	5.670 Fahrzeuge/Jahr

Unternehmensflottenmanagement

Das B2B-Segment von NIO ist auf Transportlösungen für Unternehmen ausgerichtet.

• Firmenflottenkunden: 247 Unternehmen
• Gesamte Flottenfahrzeuge: 3.890
• Durchschnittliche Flottengröße pro Firmenkunde: 15,7 Fahrzeuge

NIO Inc. (NIO) – Geschäftsmodell: Kostenstruktur

Hohe Forschungs- und Entwicklungskosten

Die Forschungs- und Entwicklungskosten von NIO beliefen sich im Geschäftsjahr 2023 auf 8,9 Milliarden chinesische Yuan (ca. 1,27 Milliarden US-Dollar), was 16,7 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Aufwendungen (CNY)	Prozentsatz des Umsatzes
2023	8,9 Milliarden	16.7%
2022	7,5 Milliarden	15.2%

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten von NIO beliefen sich im Jahr 2023 auf 44,8 Milliarden chinesische Yuan (ca. 6,4 Milliarden US-Dollar).

• Produktionskapazität: 300.000 Fahrzeuge pro Jahr
• Durchschnittliche Produktionskosten pro Fahrzeug: Ungefähr 250.000 chinesische Yuan (35.700 US-Dollar)

Investition in Batterietechnologie

NIO investierte im Jahr 2023 3,2 Milliarden chinesische Yuan (ca. 458 Millionen US-Dollar) in die Entwicklung der Batterietechnologie.

Investition in Batterietechnologie	Betrag (CNY)
Investition 2023	3,2 Milliarden
Batteriewechselstationen	Über 1.300 Stationen

Infrastrukturentwicklung

NIO stellte im Jahr 2023 2,5 Milliarden chinesische Yuan (ca. 357 Millionen US-Dollar) für den Ausbau der Infrastruktur bereit.

• Batteriewechselstationen: bundesweit über 1.300
• Investition in das Ladenetz: 1,1 Milliarden chinesische Yuan

Marketing- und Vertriebsausgaben

Die Marketing- und Vertriebsausgaben für NIO beliefen sich im Jahr 2023 auf insgesamt 6,7 Milliarden chinesische Yuan (ca. 960 Millionen US-Dollar).

Kategorie der Marketingausgaben	Betrag (CNY)
Gesamte Marketingausgaben	6,7 Milliarden
Digitales Marketing	2,3 Milliarden
Vertriebskanalkosten	4,4 Milliarden

NIO Inc. (NIO) – Geschäftsmodell: Einnahmequellen

Verkauf von Elektrofahrzeugen

Im dritten Quartal 2023 lieferte NIO 31.041 Fahrzeuge aus, was einer Steigerung von 25,1 % gegenüber dem Vorjahr entspricht. Die gesamten Fahrzeugauslieferungen für die ersten drei Quartale 2023 erreichten 106.295 Fahrzeuge.

Fahrzeugmodell	Durchschnittspreis (CNY)	Jährliches Verkaufsvolumen (2023)
NIO ET7	468,000	23,549
NIO ES7	458,000	35,217
NIO ET5	328,000	47,529

Abonnementdienste für den Batteriewechsel

Der Batteriewechselservice von NIO generierte im dritten Quartal 2023 einen Umsatz von 1,39 Milliarden Yuan, wobei im Laufe des Quartals 1.304.000 Batteriewechsel durchgeführt wurden.

Abonnementstufe	Monatliche Kosten (CNY)	Häufigkeit des Batteriewechsels
Basic	780	Unbegrenzt
Premium	1,180	Unbegrenzt

Erweiterte Software- und Technologielizenzierung

Die Einnahmen aus Technologielizenzen von NIO erreichten im dritten Quartal 2023 154,8 Millionen Yuan.

• Lizenzierung der NAD-Technologie (NIO Autonomous Driving).
• Lizenzierung von Batteriemanagementsystemen
• Lizenzierung der elektrischen Antriebstechnologie

Kundendienst und Wartung

Der Kundendienstumsatz belief sich im dritten Quartal 2023 auf 1,02 Milliarden Yuan, bei durchschnittlichen Servicekosten von 12.500 Yuan pro Fahrzeug.

Energielade- und Speicherlösungen

Der Umsatz des NIO Power-Ladenetzes belief sich im dritten Quartal 2023 auf 412,5 Millionen Yuan, wobei 1.863 Kraftwerke in Betrieb waren.

Ladestationstyp	Anzahl der Stationen	Durchschnittlicher Ladeumsatz pro Station
Superladestationen	1,263	220.000 CNY/Monat
Zielladestationen	600	85.000 CNY/Monat

NIO Inc. (NIO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose NIO Inc. (NIO) over the competition, especially as the company scales its multi-brand approach and power network. Here's the breakdown of the value NIO delivers, grounded in the latest numbers we have through Q3 2025.

Battery-as-a-Service (BaaS) for lower purchase price and battery upgrade flexibility

The Battery-as-a-Service (BaaS) model is a major differentiator, fundamentally changing the upfront cost equation for buyers. By separating the battery from the vehicle purchase, NIO effectively reduces the initial financial hurdle. For instance, the BaaS plan slashed the upfront cost of the flagship third-generation ES8 SUV by 25%, moving the price from 416,800 yuan down to 308,800 yuan in Q2 2025. This flexibility extends to battery upgrades; you aren't locked into one battery's lifecycle or degradation curve. You can swap for a different capacity battery when your needs change, which is a key benefit over outright ownership, even if the cumulative subscription cost over many years might exceed the purchase price.

Fast, convenient battery swapping in under five minutes

The speed and convenience of the power swap network directly address range and charging anxiety. As of February 28, 2025, NIO operated 3,201 Power Swap Stations (PSS) worldwide, with 970 of those strategically placed on expressways in China. The system has facilitated over 67 million power swaps in total. During the Chinese New Year period, daily swaps even surpassed 130,000 in China. To put the utilization into perspective, in Shanghai alone, stations were providing over 9,000 services daily in February 2025. Analysts suggest a station can approach profitability when serving between 60 to 70 times per day. The company's stated goal for the end of 2025 was to reach over 4,000 stations globally.

Premium, user-centric community and service ecosystem (NIO Houses, App)

NIO cultivates a strong sense of belonging through its physical and digital touchpoints. This community aspect is a core part of the premium experience. As of February 28, 2025, NIO had established 181 NIO Houses globally. The ecosystem is supported by high usage; for example, the total number of power swaps provided to users exceeded 67 million in total as of early 2025. This network supports a massive user base that sees battery swapping as their preferred recharging method on expressways, accounting for 83.2% of power replenished there in February 2025.

High-performance smart EVs with advanced autonomous driving features

The vehicles themselves offer high-end performance coupled with smart technology integration. The company's Q3 2025 deliveries totaled 87,071 vehicles, a 40.8% year-over-year increase, showing strong market resonance across its brands. The vehicle gross margin improved to 14.7% in Q3 2025, up from 13.1% in Q3 2024, reflecting better product profitability. Furthermore, NIO is actively developing autonomous capabilities, evidenced by partnerships to deploy L4 autonomous logistics vehicles for parcel delivery in a specific city. The launch of the All-New ES8, a flagship premium SUV, is intended to set a new benchmark in its segment.

Multi-brand strategy offering price points from RMB 100,000 to over RMB 400,000

NIO Inc. uses a three-tiered brand structure-NIO, ONVO, and FIREFLY-to capture a wide spectrum of the electric vehicle market. This strategy has formed a complete product matrix covering a price range from RMB 100,000 to RMB 800,000. The shift towards lower-priced models is evident in the Q3 2025 delivery mix, where the ONVO brand delivered approximately 37,656 units and the FIREFLY brand delivered about 12,487 units, compared to the core NIO brand's 36,928 units. This diversification, however, has led to a drop in the overall Average Selling Price (ASP) for the company, which fell to 220,500 yuan in Q3 2025.

Here is a summary of the brand delivery contribution and associated pricing context for Q3 2025:

Brand Segment	Q3 2025 Deliveries (Units)	Approximate Price Range Coverage (RMB)	Q3 2025 Vehicle ASP (Yuan)
NIO (Premium)	36,928	Above 400,000	220,500 (Overall Company ASP)
ONVO (Family-Oriented/Mass Market)	37,656	100,000 to 300,000
FIREFLY (Small High-End EV)	12,487	Lower end of the spectrum, expanding coverage

For you, the key takeaway is that the value proposition is a bundle: lower entry cost via BaaS, rapid energy replenishment via the PSS network, and a brand for every pocket, though the latter is compressing the average selling price. Finance: draft 13-week cash view by Friday.

NIO Inc. (NIO) - Canvas Business Model: Customer Relationships

You're trying to understand how NIO Inc. keeps its owners so engaged, which is key when you're selling premium EVs and relying on recurring revenue. Honestly, their approach is less about transactional sales and more about building a lifestyle ecosystem around the car. Here's the breakdown of their customer relationship strategy as of late 2025.

Dedicated, high-touch community building through NIO Houses and events

The NIO House network is the physical manifestation of their community focus. These aren't just showrooms; they are hubs for owners. As of February 28, 2025, NIO had established 181 NIO Houses globally. This physical presence supports the massive installed base, which reached a cumulative total of 949,457 vehicles delivered as of November 30, 2025. The power network is integral to this relationship, offering convenience that drives loyalty. NIO had offered over 67 million power swaps to users in total since its start. During the 2025 Chinese New Year alone, users completed 1,716,746 power swaps, with daily swaps exceeding 100,000 for 12 days.

The scale of the community and infrastructure is best seen here:

Metric	Value (as of Feb 28, 2025, unless noted)
Cumulative Vehicle Deliveries	949,457 (as of Nov 30, 2025)
Total NIO Houses Globally	181
Total Power Swap Stations Globally	3,201
Power Swap Stations on Chinese Expressways	970
Power Swaps During 2025 CNY	1,716,746

Digital, direct-to-user sales model in core markets like China

NIO Inc. maintains a direct sales approach, bypassing traditional dealer networks, which gives them full control over the customer journey and data. This model is clearly scaling, evidenced by the November 2025 delivery figures across their brands. In November 2025, total deliveries hit 36,275 vehicles. The core NIO premium brand delivered 18,393 units, while the newer ONVO brand delivered 11,794 units. The success of new models shows the direct channel is effective; for instance, the Onvo L90 sold 40,000 units in China within four months of its July 2025 launch. The flagship ES8 model sold out its entire 2025 production capacity, with new orders extending into March 2026.

The direct sales volume is supported by the multi-brand strategy:

• NIO brand November 2025 deliveries: 18,393 units.
• ONVO brand November 2025 deliveries: 11,794 units.
• FIREFLY brand November 2025 deliveries: 6,088 units.

Subscription-based services for BaaS and autonomous driving software

The Battery as a Service (BaaS) subscription is a core relationship driver, lowering the upfront cost and locking customers into the swap ecosystem. The pricing structure for BaaS in Europe, as of late 2025, varies by battery size. You'd pay a recurring monthly fee, not the outright purchase price, which might be around €9,000 for the 75 kWh pack or €12,000 for the 100 kWh pack.

Here are the stated monthly subscription costs in Europe:

Battery Capacity	Approximate Monthly BaaS Fee (Europe)
75 kWh Standard-Range	€169 per month
100 kWh Long-Range	€289 per month

Also, NIO Inc. continues to position NIO Assisted and Intelligent Driving and its related subscription services as critical to its future revenue streams.

Personalized after-sales service and comprehensive power solutions

The power solutions are a direct service component that binds the customer. Beyond the swap network, revenues from parts, accessories, and after-sales vehicle services increased in Q2 2025 due to user growth. This service focus is critical, though the industry faces pressure; China's 2025 NEV-CACSI showed after-sales satisfaction fell to 79. Still, the company is seeing operational improvements reflected in margins. Vehicle margins improved to 14.7% in the third quarter of 2025, up from 13.1% in the third quarter of 2024. The company expects its new models to help achieve an overall vehicle margin of 20%.

Key after-sales and service indicators:

• Q3 2025 Vehicle Margin: 14.7%.
• Projected Overall Vehicle Margin: 20%.
• After-Sales Satisfaction Score (China 2025 NEV-CACSI): 79.

Finance: draft 13-week cash view by Friday.

NIO Inc. (NIO) - Canvas Business Model: Channels

You need to see the physical and digital touchpoints NIO Inc. (NIO) uses to reach and service its customers as of late 2025. This company relies heavily on a direct-to-consumer model augmented by a unique energy service infrastructure.

Direct-sales NIO Houses and NIO Spaces in major cities form the core of the physical customer interaction. These locations serve as brand experience centers, community hubs, and initial sales points, complementing the online sales process. The service network supporting these sales and ownership experiences is quite extensive by the third quarter of 2025.

Channel Type	Count (as of Q3 2025)
NIO Houses	172
NIO Spaces	395
AMO Stores	422
Service Centers	405
Delivery Centers	70

The energy service delivery is a critical channel differentiator, primarily through the Battery Swap Stations (PSS) and proprietary charging infrastructure. This physical network supports the Battery-as-a-Service (BaaS) value proposition directly at the point of energy replenishment.

The scale of the NIO Power network as of the third quarter of 2025, with the latest cumulative swap data from October 2025, shows significant operational depth.

Power Channel Metric	Value
Global Power Swap Stations (PSS)	3,641 (as of Q3 2025)
PSS on Chinese Expressways	989 (as of June 30, 2025)
Total Charging Stations (Chargers/Destination)	Over 27,000 (as of Q3 2025)
Cumulative Power Swaps	Over 92 million (as of Q3 2025) / Reached 90 million (as of Oct 26, 2025)
Daily Battery Swap Services	Exceed 100,000 (as of late Oct 2025)

The NIO App and website are the primary digital channels for vehicle configuration, order placement, and community interaction. This digital ecosystem is vital for maintaining the high level of user engagement NIO Inc. (NIO) targets. The user acquisition funnel shows continued digital interest, with an estimate of 3,333 daily mobile app downloads in 2025.

For new international markets, NIO Inc. (NIO) is increasingly using third-party local distributors to manage market entry, supplementing its established direct-to-consumer approach in core regions like Norway. This hybrid channel strategy is key for rapid expansion across Central Asia and new European territories.

• Planned 2025/2026 European Distributor Markets: Austria, Belgium, Czech Republic, Hungary, Luxembourg, Poland, Romania, Portugal, Greece, Cyprus, Bulgaria, and Denmark.
• Central Asia Distributor: Abu Sahiy Motors in Azerbaijan (deliveries started Q2 2025).
• Other New Market Entries Planned: Singapore and Uzbekistan in 2025/2026.

Service centers and authorized repair shops provide the necessary after-sales support. As of the third quarter of 2025, the network included 405 dedicated service centers, ensuring maintenance and repair access for the growing fleet.

NIO Inc. (NIO) - Canvas Business Model: Customer Segments

You're looking at the customer segmentation strategy for NIO Inc. (NIO) as of late 2025, which is now clearly defined by its three distinct vehicle brands. This multi-brand approach is designed to capture market share across the spectrum, moving beyond the initial premium-only focus. Here's the quick math on how the volume is currently distributed, based on the third quarter of 2025 performance.

The customer segments are clearly delineated by the brand they purchase, which directly influences the value proposition and, critically, the expected Average Selling Price (ASP) for NIO Inc. (NIO).

Premium Chinese EV Buyers (NIO Brand)

This segment remains the core of the brand, targeting affluent consumers in China's tier-one and tier-two cities who prioritize innovation, premium features, and the unique community experience, including Battery-as-a-Service (BaaS) adoption. These buyers are often early adopters willing to pay a premium for the full ecosystem. The flagship NIO brand is still driving significant volume, though its percentage contribution is shifting as the other brands scale up.

• The NIO brand delivered 36,928 vehicles in the third quarter of 2025.
• In November 2025 alone, the NIO brand accounted for 18,393 deliveries.
• The high-end segment is anchored by models like the ET9, which had a projected monthly sales target around 1,000 units, priced at 788,000 yuan (approximately $107,963).

Mass-Market, Family-Oriented EV Buyers (ONVO Brand)

The ONVO brand targets the mass-market, family-oriented buyer, which is proving to be a significant volume driver. While the exact target range of RMB 200,000-300,000 isn't explicitly stated in the latest reports, the brand's positioning as family-oriented and its high delivery volume suggest it is successfully capturing the mainstream segment just below the premium tier. The launch of the ONVO L90 three-row SUV in late July 2025 has been a major catalyst for this segment.

• ONVO was the highest-volume brand in Q3 2025, delivering 37,656 vehicles.
• The brand's success is evident, with its Q3 volume slightly outpacing the core NIO brand volume of 36,928 units.
• The ONVO L90 saw strong initial reception, with unverified reports suggesting 58,599 locked-in orders nationwide by mid-August 2025.

Urban, Budget-Conscious Buyers (FIREFLY Brand)

FIREFLY is positioned as the small, high-end EV competitor, aiming for urban, budget-conscious buyers who still demand quality and technology, likely including BaaS compatibility. This brand is crucial for achieving scale and, eventually, profitability. The pricing strategy is aggressive to capture market share against established compact EV players.

• FIREFLY delivered 12,487 vehicles in the third quarter of 2025.
• The brand's first model launched with a starting price in China of RMB 119,800 (approximately $16,410) including the battery pack.
• Management hopes FIREFLY will account for 10 percent of the company's total sales in the long run.

To give you a clear picture of the current sales mix across these customer segments as of the last reported quarter, look at this breakdown:

Brand Segment	Q3 2025 Deliveries	Percentage of Q3 Total
NIO (Premium)	36,928	42.4%
ONVO (Mass-Market/Family)	37,656	43.2%
FIREFLY (Small High-End)	12,487	14.3%
Total	87,071	100.0%

Global EV Consumers in Europe and Asia

NIO Inc. (NIO) is actively diversifying its customer base beyond China through an accelerating international strategy, shifting to a hybrid multi-channel approach that relies on distribution partners in newer markets. This targets early adopters of premium EVs in established European markets and expands reach in new territories via local expertise. The company's goal was to serve users in more than 25 countries and regions by the end of 2025.

• The European sales share is projected to increase to 25 percent in 2025.
• Existing European markets include Norway, Germany, the Netherlands, Sweden, and Denmark.
• New expansion planned for 2025-2026 includes Portugal, Greece, Cyprus, and Bulgaria, often utilizing national general distributor models with partners like the JAP Group and Motodynamics Group.
• The global strategy includes the Middle East and North Africa (MENA) region, with the UAE as the initial market.

If onboarding takes 14+ days, churn risk rises, especially in competitive European markets where delivery speed matters to early adopters. Finance: draft 13-week cash view by Friday.

NIO Inc. (NIO) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving NIO Inc.'s operations as of late 2025. The cost structure is heavily influenced by technology investment and the ongoing build-out of its unique energy network, alongside the direct costs of vehicle production.

Research and Development (R&D) Expenditure remains a significant fixed cost, reflecting the commitment to maintaining technological leadership. For the third quarter of 2025, GAAP R&D expenses were reported at RMB 2.3906 billion (US$335.8 million). Management has signaled a sustained run-rate, expecting non-GAAP R&D expenses to remain flat at approximately RMB 2 billion per quarter through 2026, focusing on efficiency improvements rather than outright cuts.

The Cost of Goods Sold (COGS) is dominated by battery and material costs, though aggressive cost reduction efforts are showing results. This is evidenced by the improvement in vehicle profitability, with the Q3 2025 vehicle margin reaching 14.7%. The total Cost of Sales for Q3 2025 was RMB 18,769.3 million (US$2,636.5 million).

A major area of capital deployment is the Power Swap Station Network and Charging Infrastructure. While specific 2025 CapEx figures aren't explicitly stated as a single number, the scale of the network shows the ongoing investment commitment. As of late 2025, NIO operated 3,606 battery swap stations across China, including 1,003 along highways, alongside 4,830 charging stations providing 27,536 charging piles. The company previously committed to having over 4,000 total swap stations worldwide by the end of 2025.

Sales, General, and Administrative (SG&A) Expenses are being actively managed to support the path to profitability. The long-term target for non-GAAP SG&A expenses is to stabilize at approximately 10% of sales revenue. However, for the near term, including Q4 2025, the ratio is expected to be closer to 12% of revenue. The absolute spend for Q3 2025 was RMB 4.18 billion (US$587.8 million), which aligns with the implied quarterly spend of around RMB 4 billion mentioned for the Q4 guidance period.

Regarding Manufacturing and Assembly Costs, the structure has been evolving. Historically, costs were paid to the joint venture partner, JAC Motors. The last reported full-year payment under that structure was in 2022, totaling RMB 1.13 billion. NIO has since acquired the primary manufacturing facilities, aiming to cut manufacturing costs by an expected 10% by bringing production fully in-house.

Here's a quick look at the key operating expense and margin data from Q3 2025:

Cost Component / Metric	Amount / Percentage (Q3 2025)	Context / Target
Vehicle Gross Margin	14.7%	Up from 10.3% in Q2 2025
Total Cost of Sales (COGS)	RMB 18,769.3 million	US$2,636.5 million
R&D Expense (GAAP)	RMB 2.3906 billion	Non-GAAP run-rate targeted at ~RMB 2 billion/quarter
SG&A Expense (Absolute)	RMB 4.18 billion	US$587.8 million
SG&A Expense (Ratio Target)	10% of sales revenue	Long-term target; Q4 2025 expected near 12%
Historical JAC Payment (2022)	RMB 1.13 billion	Last reported full-year payment before factory acquisition

The ongoing capital commitment to the Power Swap infrastructure is substantial, as shown by the network size:

• Total Battery Swap Stations (China, late 2025 estimate): Over 3,600
• Swap Stations planned outside China (Year-end 2025 target): 1,000
• Total Charging Stations (China, late 2025 estimate): 4,830
• Total Charging Piles (China, late 2025 estimate): 27,536

You see the shift in cost focus; less on the variable manufacturing fee to JAC and more on fixed R&D and network expansion, which should lead to better margin leverage as volume scales, which they are seeing with that 14.7% vehicle margin. Finance: review Q4 OpEx forecast against the RMB 4 billion SG&A estimate by next Tuesday.

NIO Inc. (NIO) - Canvas Business Model: Revenue Streams

You're looking at how NIO Inc. actually brings in the cash, which is key to understanding its path to profitability. The revenue mix is shifting as they scale up deliveries and push their service ecosystem.

The biggest chunk, by far, comes from moving metal. Vehicle Sales contributed RMB 19.20 billion (US$2.69 billion) in Q3 2025. That number shows the core business is gaining traction, especially with the expanded brand portfolio now including ONVO and FIREFLY.

Next up, you have the recurring revenue component: BaaS subscription fees from customers who lease the battery. While this stream is designed to provide more predictable income, the specific financial contribution for Q3 2025 wasn't broken out separately from the total 'Other Sales' in the readily available reports, but it's a critical part of the long-term financial health story.

The 'Other Sales' category is where the ecosystem services live. For Q3 2025, this segment brought in RMB 2,591.6 million (US$364.0 million). That figure represents a 31.2% increase over Q3 2024, which is defintely a positive sign of user base monetization.

Here's a quick look at the major revenue drivers for Q3 2025 based on the reported figures:

Revenue Stream Component	Q3 2025 Amount (RMB)	Q3 2025 Amount (US$)
Vehicle Sales	RMB 19,202.3 million	US$2,697.3 million
Other Sales (Total)	RMB 2,591.6 million	US$364.0 million
Total Revenues	RMB 21,793.9 million	US$3,061.4 million

The growth in 'Other Sales' is driven by several activities that build out the user experience. You should track these components closely:

• Sales of used cars.
• Technical research and development services.
• Sales of parts, accessories, and after-sales vehicle services.

Finally, NIO Inc. is exploring Licensing of technology, such as battery swap technology and in-house chips, to external partners. This is a strategic move to monetize their intellectual property beyond their own vehicle sales, though specific revenue figures from licensing for Q3 2025 weren't itemized in the top-line reports we have access to right now. Finance: draft 13-week cash view by Friday.