Nio Inc. (NIO): Canvas du modèle commercial [Jan-2025 Mise à jour]

Dans le paysage rapide de l'innovation des véhicules électriques, Nio Inc. apparaît comme un perturbateur automobile chinois pionnier, redéfinissant la mobilité grâce à sa toile révolutionnaire du modèle commercial. Blending cutting-edge technology, sustainable transportation solutions, and a user-centric approach, NIO has carved a unique niche in the premium electric vehicle market, challenging traditional automotive paradigms with its innovative battery swap infrastructure, advanced autonomous driving capabilities, and seamless digital ecosystem Cela transforme la façon dont les professionnels urbains éprouvent une mobilité.

NIO Inc. (NIO) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec le fabricant de batteries CATL

Nio a établi un partenariat essentiel avec Contemporary Amperex Technology Co., Limited (CATL), le plus grand fabricant de batteries chinois. En 2024, le partenariat implique:

Métrique de partenariat	Détails spécifiques
Contrat d'alimentation de la batterie	Alimentation annuelle de la batterie d'environ 52,6 GWh en 2023
Valeur du contrat	3,2 milliards de dollars d'achat de batterie
Technologie de la batterie	Technologies de batterie sodium-ion et lithium-ion

Partenariat technologique avec Intel et Mobileye

La collaboration de technologie de conduite autonome de Nio comprend:

• Développement conjoint des systèmes avancés d'assistance à conducteur (ADAS)
• Investissement de 300 millions de dollars en entraînement autonome de la R&D
• Intégration de la technologie des puces EYEQ5 de Mobileye

Coentreprises avec des constructeurs automobiles

Coentreprise	Investissement	Focus de la collaboration
Moteurs JAC	1,1 milliard de dollars d'investissement total	Installations de fabrication à Hefei, Chine
Changan Automobile	780 millions de dollars d'investissement stratégique	Développement de la plate-forme de véhicules électriques

Facturer des partenariats d'infrastructure

Les collaborations d'infrastructure de charge de NIO incluent:

• Partnership de l'État de Grid Corporation de Chine
• Collaboration chinoise du réseau électrique du Sud
• Stations de charge totales: 2 428 en décembre 2023
• Stations d'échange de batterie: 1 421 à l'échelle nationale

Partenariat Les mesures financières démontrent l'approche stratégique de NIO pour construire un écosystème complet de véhicules électriques grâce à des collaborations ciblées avec les principaux acteurs de l'industrie.

Nio Inc. (NIO) - Modèle d'entreprise: activités clés

Conception et fabrication de véhicules électriques

Le NIO a produit 122 486 véhicules en 2023, avec une livraison cumulative totale de 404 138 véhicules. La société se concentre sur les segments de véhicules électriques premium, y compris les modèles:

Modèle	Type de véhicule	Production annuelle (2023)
ET7	Sedan	38 217 unités
ES7	SUV	44 533 unités
ET5	Sedan	39 736 unités

Recherche et développement de batteries

Nio a investi 17,4 milliards de yuans dans les dépenses de R&D en 2023, en mettant un accent significatif sur la technologie des batteries.

• Développé une technologie de batterie à semi-conducteurs de 150 kWh
• Les stations d'échange de batterie prennent en charge plusieurs capacités de batterie
• La densité d'énergie de la batterie a atteint 360 wh / kg

Extension du réseau de la station d'échange de batterie

Métrique du réseau	Statut 2023
Stations d'échange de batterie totales	1 459 stations
Couverture géographique	134 villes en Chine
Swaps de batterie quotidiens	Plus de 72 000 échanges par jour

Développement avancé des systèmes d'assistance conducteur (ADAS)

La plate-forme de conduite autonome NOMI de Nio implique:

• Système NIO Pilot 3.0 avec 33 composants matériels de détection
• Suite de capteurs avancés comprenant des radars à ondes de 8 millimètres
• 5 caméras haute résolution
• 3 radars ultra-longues

Innovation de technologie de conduite logicielle et autonome

Métriques de développement de logiciels pour 2023:

Métrique de développement logiciel	Valeur
Ingénieurs logiciels	6 925 professionnels
Investissement annuel de R&D du logiciel	8,2 milliards de yuans
Puissance de calcul de conduite autonome	1 016 hauts

Nio Inc. (NIO) - Modèle d'entreprise: Ressources clés

Installations de fabrication de véhicules électriques avancés

Nio exploite une usine de fabrication à Hefei, dans la province d'Anhui, avec une capacité de production annuelle de 240 000 véhicules en 2023. L'usine de fabrication s'étend sur environ 1,35 million de mètres carrés.

Emplacement de l'installation	Capacité de production annuelle	Taille de l'installation
Hefei, province d'Anhui	240 000 véhicules	1,35 million de mètres carrés

Technologie de swap de batterie propriétaire

Nio a déployé 1 459 stations d'échange de batterie à travers la Chine en décembre 2023. La société a effectué plus de 27 millions d'opérations d'échange de batterie.

• Stations d'échange de batterie: 1 459
• Opérations d'échange de batterie totale: 27 millions
• Échanges de batterie quotidiens moyens: environ 24 000

Capacités de recherche sur les batteries hautes performances

Nio a investi 22,4 milliards de yuans dans la recherche et le développement en 2022. La société a développé une technologie de batterie à semi-conducteurs avec une densité d'énergie atteignant 360 wh / kg.

Investissement en R&D (2022)	Densité d'énergie de la batterie
22,4 milliards de yuans	360 wh / kg

Propriété intellectuelle dans les technologies de véhicules électriques

Depuis 2023, NIO détient 5 382 demandes de brevet dans le monde, avec 3 412 brevets déjà accordés.

• Demandes totales de brevets: 5 382
• Brevets accordés: 3 412
• Catégories de brevets: technologie de la batterie, conduite autonome, conception de véhicules

Pool de talents d'ingénierie et de conception solide

Nio a employé 13 028 employés à temps plein en 2022, avec plus de 60% dans des rôles de recherche et développement et d'ingénierie.

Total des employés	Personnel de R&D et d'ingénierie	Pourcentage dans les rôles techniques
13,028	7,817	60%

Nio Inc. (NIO) - Modèle d'entreprise: propositions de valeur

Véhicules électriques premium avec une technologie de pointe

Nio propose une gamme de véhicules électriques premium avec des prix et des spécifications spécifiques:

Modèle	Prix ​​de départ (CNY)	Gamme (km)
ET7	448,000	600-1,000
ET5	328,000	500-900
ES7	458,000	480-880

Infrastructure d'échange de batterie innovante

Les stations d'échange de batterie de Nio au T4 2023:

• Stations d'échange de batterie totales: 1 400
• Couverture géographique: 310 villes en Chine
• Temps d'échange moyen: 3-5 minutes
• Total des échanges de batterie terminés: plus de 27 millions

Capacités de conduite autonomes avancés

Spécifications de technologie de conduite autonome de NIO:

Fonctionnalité	Spécifications techniques
Niveau ADAS	Nio Pilot 2.3.0 (niveau avancé 2+)
Suite de capteurs	11 caméras, 5 radar, 6 capteurs à ultrasons
Alimentation informatique	1016 hauts

Solutions de transport durable

Métriques d'impact environnemental:

• Réduction du CO2 par véhicule: environ 3,5 tonnes / an
• Efficacité énergétique: taux de conversion d'énergie à 80%
• Matériaux recyclés dans la production de véhicules: 15-20%

Expérience utilisateur personnalisée

Métriques d'écosystème numérique NIO:

Plate-forme numérique	Engagement des utilisateurs
Utilisateurs de l'application NIO	1,2 million d'utilisateurs mensuels actifs
Plateforme de vie Nio	Plus de 500 000 utilisateurs enregistrés
Communauté Nio	250 000 membres de la communauté active

Nio Inc. (NIO) - Modèle d'entreprise: relations avec les clients

Engagement client numérique via l'application Nio

Les téléchargements de l'application NIO ont atteint 3,2 millions d'utilisateurs au quatrième trimestre 2023. L'application fournit une surveillance des véhicules en temps réel, avec un taux d'engagement des utilisateurs de 98,7% parmi les propriétaires de véhicules NIO.

Fonctionnalité d'application	Taux d'interaction utilisateur
Suivi de l'état de la batterie	92.4%
Localisateur de charge	87.6%
Contrôle de véhicule à distance	76.3%

Services de configuration de véhicule personnalisés

Offres Nio Options de personnalisation sur 6 modèles de véhicules avec plus de 150 choix de configuration individuels.

• Temps de personnalisation moyen: 45 minutes par client
• Taux d'achèvement de la configuration numérique: 83%
• Satisfaction du client à l'égard de la personnalisation: 4.6 / 5

Expérience utilisateur axée sur la communauté

La plate-forme communautaire NIO compte 215 000 utilisateurs mensuels actifs. Le contenu généré par l'utilisateur génère 42% des commentaires du produit.

Métrique de la plate-forme communautaire	Valeur
Utilisateurs mensuels actifs	215,000
Engagement de contenu généré par l'utilisateur	42%
Interactions mensuelles moyennes	1,3 million

Service et support après-vente premium

Le réseau de services NIO Power couvre 232 villes avec 1 100 centres de service. Temps de réponse moyen du service: 37 minutes.

• Couverture d'assistance routière 24/7
• Stations d'échange de batterie: 1 400 à l'échelle nationale
• Satisfaction moyenne du service client: 4,7 / 5

Mises à jour logicielles régulières et améliorations technologiques

Nio publie des mises à jour logicielles toutes les 6 à 8 semaines, avec 94% des véhicules recevant des mises à jour en direct dans les 72 heures suivant la sortie.

Métrique de mise à jour du logiciel	Valeur
Mettre à jour la fréquence	Toutes les 6 à 8 semaines
Taux d'adoption de la mise à jour des véhicules	94%
Temps d'installation de mise à jour moyen	22 minutes

Nio Inc. (NIO) - Modèle d'entreprise: canaux

Plateforme de vente en ligne directe

Nio exploite une plate-forme de vente en ligne complète avec les caractéristiques suivantes:

• Trafic de site Web: 12,4 millions de visiteurs uniques en 2023
• Taux de conversion en ligne: 3,7% des visiteurs du site Web
• Volume des ventes numériques: 160 784 véhicules vendus sur les canaux en ligne en 2023

Métrique du canal	Performance de 2023
Engagement de la plate-forme en ligne	4,2 millions d'utilisateurs enregistrés
Temps de transaction en ligne moyen	37 minutes

Centres d'expérience physique de marque Nio

Nio maintient une présence stratégique de vente au détail physique:

• Centres d'expérience totale: 573 emplacements à travers la Chine
• Taille du centre moyen: 800 mètres carrés
• Foofage annuel: 2,1 millions de visites aux clients

Concessionnaires automobiles tiers

NIO collabore avec certains partenaires automobiles:

Réseau de concessionnaires	2023 statistiques
Concessionnaires partenaires totaux	218 Emplacements autorisés
Ventes par le biais de concessionnaires	45 672 véhicules

Application mobile pour la gestion des véhicules

L'écosystème numérique de NIO comprend une application mobile robuste:

• Total des téléchargements d'applications: 6,3 millions
• Utilisateurs actifs mensuels: 3,9 millions
• Durée moyenne de la session utilisateur: 18,5 minutes

MARKETING DIGULE ET PLADES DE MÉDAISE SOCIAL

La stratégie de marketing numérique de Nio comprend plusieurs canaux:

Plateforme de médias sociaux	Nombre de suiveurs
Weibo	4,6 millions d'adeptes
Compte officiel de WeChat	2,9 millions d'abonnés
Douyin (Tiktok China)	1,7 million de followers

Nio Inc. (NIO) - Modèle d'entreprise: segments de clientèle

Professionnels urbains de classe moyenne supérieure et aisés

NIO cible les professionnels avec un revenu annuel des ménages entre 300 000 CNY et 800 000 CNY. Les études de marché indiquent que ce segment représente 22,5% de la clientèle de NIO en 2023.

Gamme de revenus	Pourcentage de clients NIO	Valeur d'achat moyen du véhicule
CNY 300 000 - CNY 500 000	12.7%	CNY 458 000
CNY 500 000 - CNY 800 000	9.8%	CNY 589 000

Antariens technologiques

Nio attire des consommateurs avertis, avec 35,6% des clients âgés de 25 à 35 ans.

• Pénétration des smartphones dans ce segment: 98,3%
• Dépenses de technologie numérique moyenne: 15 200 CNY par an
• Application Nio Utilisateurs actifs mensuels: 1,2 million

Consommateurs soucieux de l'environnement

Le segment des véhicules électriques de Nio capture des clients sensibles à l'environnement.

Métrique de la sensibilisation à l'environnement	Pourcentage
Les clients privilégiés l'empreinte à faible teneur en carbone	41.2%
Prêt à payer la prime pour la technologie verte	37.5%

Jeunes professionnels des villes chinoises de niveau 1 et de niveau 2

Concentré dans les principaux centres urbains à forte activité économique.

Niveau de la ville	Pénétration du marché NIO	Ventes moyennes de véhicules
Villes de niveau 1	68.3%	12 450 véhicules / an
Villes de niveau 2	31.7%	5 670 véhicules / an

Gestion de la flotte d'entreprise

Segment B2B de NIO ciblant les solutions de transport d'entreprise.

• Clients de la flotte d'entreprise: 247 entreprises
• Total des véhicules de flotte: 3 890
• Taille moyenne de la flotte par client: 15,7 véhicules

Nio Inc. (NIO) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement élevés

Les dépenses de R&D du NIO pour l'exercice 2023 étaient de 8,9 milliards de yuan chinois (environ 1,27 milliard de dollars), ce qui représente 16,7% des revenus totaux.

Exercice fiscal	Dépenses de R&D (CNY)	Pourcentage de revenus
2023	8,9 milliards	16.7%
2022	7,5 milliards	15.2%

Coûts de fabrication et de production

Les coûts de fabrication totaux de NIO en 2023 ont atteint 44,8 milliards de yuan chinois (environ 6,4 milliards de dollars).

• Capacité de production: 300 000 véhicules par an
• Coût de production moyen par véhicule: environ 250 000 yuan chinois (35 700 $)

Investissement technologique de la batterie

Nio a investi 3,2 milliards de yuan chinois (environ 458 millions de dollars) dans le développement de la technologie des batteries en 2023.

Investissement technologique de la batterie	Montant (CNY)
2023 Investissement	3,2 milliards
Stations d'échange de batterie	1 300+ stations

Développement des infrastructures

Nio a alloué 2,5 milliards de yuan chinois (environ 357 millions de dollars) pour l'expansion des infrastructures en 2023.

• Stations d'échange de batterie: 1 300+ à l'échelle nationale
• Facturer l'investissement du réseau: 1,1 milliard de yuan chinois

Dépenses de marketing et de vente

Les frais de marketing et de vente pour NIO en 2023 ont totalisé 6,7 milliards de yuan chinois (environ 960 millions de dollars).

Catégorie de dépenses de marketing	Montant (CNY)
Total des dépenses de marketing	6,7 milliards
Marketing numérique	2,3 milliards
Dépenses du canal de vente	4,4 milliards

NIO Inc. (NIO) - Modèle d'entreprise: Strots de revenus

Ventes de véhicules électriques

Au troisième trimestre 2023, Nio a livré 31 041 véhicules, ce qui représente une augmentation de 25,1% d'une année sur l'autre. Les livraisons totales de véhicules pour les trois premiers trimestres de 2023 ont atteint 106 295 véhicules.

Modèle de véhicule	Prix ​​moyen (CNY)	Volume des ventes annuelles (2023)
Nio ET7	468,000	23,549
Nio es7	458,000	35,217
Nio ET5	328,000	47,529

Services d'abonnement à échange de batterie

Le service d'échange de batteries de Nio a généré un chiffre d'affaires de 1,39 milliard de yuans au troisième trimestre 2023, avec 1 304 000 swaps de batterie terminés au cours du trimestre.

Niveau d'abonnement	Coût mensuel (CNY)	Fréquence d'échange de batterie
Basic	780	Illimité
Prime	1,180	Illimité

Licence avancée de logiciels et de technologie

Les revenus de licence technologique de NIO ont atteint 154,8 millions de yuans au troisième trimestre 2023.

• NAD (NIO Autonomous Driving) Technology Licensing
• Licence du système de gestion des batteries
• Licence de technologie du groupe motopropulseur électrique

Service après-vente et maintenance

Les revenus de service après-vente au troisième trimestre 2023 étaient de 1,02 milliard de yuans, avec un coût de service moyen de 12 500 yuans par véhicule.

Solutions de chargement d'énergie et de stockage

NIO Power Charging Network Revenue était de 412,5 millions de yuans au troisième trimestre 2023, avec 1 863 centrales électriques opérationnelles.

Type de station de charge	Nombre de stations	Revenus de charge moyens par station
Stations de suralimentation	1,263	220 000 CNY / mois
Base de charge de destination	600	85 000 CNY / mois

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.