When it comes to losses, we can't avoid mentioning the famous 'money-guzzler' Nio, whose losses continued to widen in the latest quarter.

In Q3 2024, Nio's revenue was 18.674 billion yuan, down 2.06% year-on-year; its net loss reached 5.06 billion yuan, expanding by 11% year-on-year. Rough estimates show that since its founding in 2014, Nio's cumulative losses have exceeded 100 billion yuan. Despite heavy investments, its sales growth hasn't been particularly fast, with 190,800 vehicles delivered in the first 11 months of 2024, up 34.4% year-on-year.

Boosting sales and improving gross margins are Nio's top priorities. Looking ahead to 2025, Li Bin has set ambitious goals: doubling sales in 2025 and achieving profitability by 2026. His confidence stems from Nio's three-brand strategy, with the newly unveiled Onvo and Firefly brands helping Nio cover different price segments. Onvo, targeting the 200,000-300,000 yuan market, is expected to become the flagship brand, with monthly sales projected to reach 20,000 units.