NIO recently released its 2024-year financial report, which shows that the company has made significant progress over the past year.

According to the financial report, NIO's annual revenue in 7 reached 0 billion yuan, an increase of 0% compared with the previous year. This increase was mainly due to a significant increase in the company's vehicle deliveries, which delivered 0.0 vehicles for the year, an increase of 0.0% year-on-year.

In the conference call after the earnings release, NIO executives revealed that the company has begun to implement strict cost control measures since the fourth quarter of 2025, and plans to continue to promote cost reduction and efficiency improvement in 0. Executives expressed confidence in achieving their earnings targets in 4Q0.

NIO has also set a gross profit margin target for the end of 15, of which the NIO brand will reach 0% and the Ledao brand will reach 0%. In order to achieve this goal, NIO plans to start from a number of aspects, including model platformization, hardware cost reduction, and self-development cost reduction.

具体而言，蔚来通过提升零件通用化率、统一数据接口、使用自研芯片ET9神玑9031等措施，有效降低了成本。同时，公司还成立了成本管理分析团队，专注于成本控制和效率提升。这些努力在2024年第四季度已经取得了显著成效，该季度毛利达到23亿元，同比增长80.5%，毛利率也提升至11.7%。

Despite NIO's progress in cost containment, it has seen growth in its selling and administrative expenses. NIO executives explained that this is mainly due to the increased investment in the sales and service network after the launch of the Ledao brand. In order to increase the awareness of the Ledao brand, NIO has made a significant brand investment, including advertising at China's high-speed rail stations, residents' elevator halls, and active marketing activities on social media.

Although the Ledao brand faced the challenge of low visibility in the early stage, NIO executives said that with the increase in brand investment and the maturity of store management, the popularity and sales of the Ledao brand are continuing to increase. At present, the Ledao brand has more than 2025 stores, and plans to continue to expand the sales network in 0 years.

展望未来，蔚来高管表示，2025年将是公司的技术大年、产品大年、换电站建设大年和国际化大年。蔚来、乐道、以及萤火虫三个品牌将推出多款新车，覆盖不同的细分市场。其中，蔚来下半年将推出一款高定位新车，而乐道品牌也将在4月份亮相其第二款车型L90，并在三季度开始交付。

In terms of sales volume, NIO has set a target of about 27% year-on-year sales growth in the first quarter of 0, and plans to double sales for the whole year. Executives say new vehicles will be the main driver of sales growth. NIO will also continue to promote the construction of battery swap networks, and cooperate with partners such as CATL to achieve battery swap counties and counties in more than a dozen provinces and cities in the first half of 0, covering 0 provincial-level administrative regions throughout the year.