The Onvo sub-brand is about to introduce two SUVs within the latter half of 2025, whereas the facelifted fashions underneath the Nio model will function elevated sizes, decreased prices, and extra LiDAR models, in accordance with insights from Goldman Sachs.
Throughout Nio’s earnings name on November 20, administration shared particulars relating to its upcoming product plans. Additional insights emerged from a Goldman Sachs analysis be aware following a go to by analyst Tina Hou and her staff to Nio’s administration in Shanghai on December 26, the place they mentioned new mannequin pipelines, mannequin facelifts, gross sales methods, manufacturing scaling, software program developments, and battery swapping infrastructure.
Nio’s administration indicated the corporate will begin a brand new product cycle from 2025 to 2026, providing a powerful lineup of latest fashions and enhancements to current merchandise. In line with the analysis be aware dated December 27, Nio’s new choices for 2025 will embrace the ET9 mannequin, two SUVs underneath the Onvo model, and an SUV underneath the brand new Firefly model.
Nio formally launched the ET9 govt flagship sedan and launched the Firefly model at Nio Day 2024 on December 21. The ET9 will make the most of the 900 V high-voltage platform and is the primary mannequin on Nio’s next-generation NT 3.0 platform, with deliveries commencing in March 2025. The ET9 is priced beginning at RMB 788,000, with a restricted version of 999 models priced at RMB 818,000 already offered out.
Together with the ET9, Nio plans to launch facelifted variations of its core fashions, primarily based on a brand new technology platform, beginning within the second half of 2025 and increasing into 2026. These fashions will function an 800 V powertrain system, an in-house developed ADAS (Superior Driver Help System) chip named Shenji NX9031, and the SkyRide chassis system. Facelifted fashions are anticipated to be bigger, cheaper, and outfitted with extra LiDARs—three LiDARs in whole in comparison with the one present in present Nio fashions.
The Onvo sub-brand is scheduled to introduce a 6/7-seater SUV aimed toward competing with Li Auto’s Li L8 within the latter half of 2025, adopted by a 5-seater SUV to rival the Li L7. Nio’s administration emphasised that these new Onvo fashions will cater to households searching for spacious interiors and excessive security requirements, and so they purpose to cost these fashions competitively towards their Li Auto counterparts. Given their bigger sizes and aggressive pricing, there’s confidence in robust gross sales efficiency for these two fashions.
The Firefly model was formally launched throughout Nio Day 2024, showcasing the primary mannequin, which shall be obtainable for pre-sale at RMB 148,800, with a full launch slated for April 2025. Deliveries of this primary Firefly mannequin are anticipated to begin by the tip of April, with forecasts of fifty,000 models anticipated to be delivered all through 2025.
Administration has indicated that orders for the Firefly model have exceeded preliminary expectations. Concerning total gross sales, Nio administration highlighted the significance of sustaining momentum for the Onvo L60 mannequin, guaranteeing secure ordering and month-to-month supply because it transitions from the preliminary ramp-up part.
Nio’s administration acknowledged that gross sales for the NT 2.0 merchandise fell wanting expectations by 40 to 50 p.c, attributing this to a number of elements: product launch timing, lack of car stock to help ongoing orders, inefficiencies in gross sales personnel and show areas, and provide chain bottlenecks, notably relating to the Onvo L60 batteries. The corporate goals to reinforce operational effectivity and keep constant manufacturing and supply timelines for future fashions.
Nio goals to attain annual gross sales volumes of 300,000 to 400,000 models underneath the Nio model within the quick to medium time period, scaling as much as 500,000 to 600,000 models in the long run. The corporate is optimistic about reaching one hundred pc year-on-year development in 2025, leveraging the introduction of two new Onvo fashions and facelifted variations of Nio fashions as key drivers of this development.
Given the substantial dimension of China’s passenger automobile market, which exceeds 20 million models yearly, Nio’s administration believes the market will stay fragmented, notably within the premium section the place client preferences fluctuate broadly. They argue that the market can help over ten producers producing a couple of million autos annually, which they see as a survival threshold for automakers.
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