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NIO Inc. reported that it delivered 36,275 vehicles in November 2025, a very large year-over-year increase, with contributions from its NIO, ONVO, and FIREFLY brands, bringing cumulative deliveries to 949,457 as of November 30, 2025.
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The strong November performance highlights how NIO’s multi-brand approach is gaining traction across premium, family-oriented, and small high-end EV niches, potentially broadening its user base.
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Next, we’ll examine how this rapid November delivery growth across NIO, ONVO, and FIREFLY influences NIO’s pre-existing investment narrative.
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To own NIO today, you need to believe its multi brand push can eventually translate rapid delivery growth into a path toward sustainable profitability. The strong November delivery surge reinforces the near term catalyst of scaling volumes across NIO, ONVO and FIREFLY, but it does not yet resolve the central risk that persistent net losses and high operating costs could keep weighing on the business.
The most relevant recent announcement alongside November’s numbers is NIO’s Q3 2025 result, which showed higher revenue and a narrower net loss year over year. Combined with management’s Q4 guidance for sharply higher deliveries and revenue, the latest monthly figures slot into an ongoing test of whether volume growth and cost efficiency can meaningfully close the gap to breakeven and support the current investment case.
Yet behind the headline delivery growth, investors should be aware of the ongoing pressure from persistent net losses and the risk that…
Read the full narrative on NIO (it’s free!)
NIO’s narrative projects CN¥148.4 billion revenue and CN¥7.5 billion earnings by 2028. This requires 28.8% yearly revenue growth and a CN¥31.8 billion earnings increase from CN¥-24.3 billion today.
Uncover how NIO’s forecasts yield a $6.75 fair value, a 34% upside to its current price.
Twenty three members of the Simply Wall St Community currently place NIO’s fair value between US$4.15 and US$18.27, showing very different expectations. When you set those opinions against the company’s continuing net losses despite rapid delivery growth, it underlines how important it is to weigh several viewpoints before judging NIO’s long term potential.
Explore 23 other fair value estimates on NIO – why the stock might be worth over 3x more than the current price!
Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.
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A great starting point for your NIO research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
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Our free NIO research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate NIO’s overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NIO.
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