NIO has released its Q3 financial report, with a gross profit margin of 12.9% and cash reserves of 22.2 billion RMB.

The NIO Company officially released its 3Q 2020 financial report this morning, with the following key data:


  • Delivered 12,206 vehicles in 2020Q3

  • Delivered 10,331 vehicles in 2020Q2

  • Delivered 3,838 vehicles in 2020Q1

In October 2020, 5,055 vehicles were delivered. As of the end of October, NIO had delivered a total of 31,430 vehicles in 2020, and the cumulative number of NIO brand deliveries reached 63,343. This means that NIO’s delivery volume for the first 10 months of this year is roughly the same as the delivery volume for the first 20 months (from May 2018 to December 2019) since NIO’s first delivery.

NIO expects to deliver 16,500-17,000 vehicles in 2020Q4. With 5,055 vehicles delivered in October, the average delivery volume in November and December will be close to 6,000 vehicles.

In terms of production capacity, NIO previously revealed that the maximum production capacity is around 5,000 vehicles. Therefore, in order to achieve this delivery volume, NIO must increase its production capacity. At the 100 kWh battery pack launch conference, NIO officials also revealed that the Hefei factory will gradually transition from a single-shift to a double-shift.


  • Automotive sales revenue in 2020Q3 was RMB 4.2668 billion, a MoM increase of 22.4%, and a YoY increase of 146.1% (total revenue was RMB 45.26 billion, a MoM increase of 21.7%, and a YoY increase of 146.4%).

  • Vehicle gross margin in 2020Q3 was 14.5%, compared to 9.7% in 2020Q2 (total gross margin was 12.9% in 2020Q3 and 8.4% in 2020Q2).

  • Net loss in 2020Q3 was RMB 1.047 billion, a MoM increase of 11%, and a YoY increase of 58.5%.

Based on sales volume and revenue, NIO’s average revenue per vehicle is RMB 349,000 (excluding the 13% value-added tax). With the increase of sales volume and the decrease of BOM costs, NIO’s gross profit has successfully exceeded 10%, which is one quarter earlier than Li Bin’s plan.

Other data:

  • NIO expects total revenue of between RMB 6.2587-6.4358 billion in 2020Q4, a MoM increase of 38.3%-42.4%.

  • R&D investment in 2020Q3 was RMB 590 million.

  • NIO redeemed 21.09% equity of XPT through its wholly-owned subsidiary and now owns all the shares of XPT.

  • NIO acquired part of NIO China’s equity and now holds a 86.5% stake.

  • NIO’s cash reserve has reached RMB 22.2 billion.“`markdown

🔗 Information source: NIO Official Website

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email