According to the CEO, NIO will introduce nine new models across three brands this year.

      At this year’s Shanghai Auto Show, held on Wednesday, April 23, 2025, two of NIO's small EVs, the Firefly, attracted the attention of many onlookers.

      NIO plans to introduce nine new and updated models across its three brands in 2025, intending to achieve higher gross margins than its current offerings. The Chinese electric vehicle manufacturer aims to reach break-even by the end of the year, as stated by its CEO on Tuesday. “Our new product launches are proceeding as planned and have been gaining traction since March. We will be introducing new models almost every month starting from May or June to attract customers,” said William Li, NIO’s founder, chairman, and CEO, during a press event in Shanghai (translated). He anticipates these new vehicles will bring about higher margins for the company, aided by its self-developed semiconductors and an improved supply chain owing to better negotiation leverage. "This strengthens our confidence in achieving considerable growth, particularly in the third and fourth quarters of 2025," Li remarked.

      His remarks were made in conjunction with the debut of the L90, the second model from NIO's affordable brand Onvo, at this year's Shanghai Auto Show. This six-seater, three-row SUV is expected to be priced similarly to the midsize Tesla Model Y, measuring 5.1 meters in length and 1.8 meters in height, with a wheelbase of 3.1 meters. It features a luggage compartment capable of accommodating 10 suitcases. The Onvo L90 SUV is slated for delivery in the third quarter of 2025. Eric Yu, Onvo’s product head, mentioned that further details about the SUV would be shared at a brand event in May. A similar event was held last May for the L60, Onvo's first model, which is priced nearly RMB 60,000 (approximately RMB 8,232) lower than the Tesla Model Y.

      NIO is broadening its global customer base with the Firefly, a small EV designed to compete with the Smart cars from Mercedes-Benz and the Mini Coopers from BMW. It also competes with Volkswagen's ID.3 and BYD's Seagull, with a price range of RMB 119,800 to RMB 125,800, and went on sale in China on April 19. President Qin Lihong stated that international sales would begin in Europe between June and August, slightly later than originally planned. Production of a right-hand drive version of the Firefly is set to start in October, as the company aims to enter the UK market and Southeast Asian countries, including Singapore, as reported by Bloomberg.

      Additionally, NIO will release refreshed versions of its existing models, such as the ET5 sedan and the ES6 crossover, later this year. NIO’s vehicle margin has decreased from 20.1% in 2021 to 13.1% as of last year. The company reported deliveries of 42,094 vehicles in the first quarter of this year, marking a 40.1% increase year-on-year, although sales of its Onvo brand did not meet expectations.

      Jill Shen is a technology reporter based in Shanghai, covering Chinese mobility, autonomous vehicles, and electric cars. You can connect with her via email at [email protected] or on Twitter at @jill_shen_sh.