Li Bin: Nio's new generation products have sufficient cost competitiveness

On September 2nd, Li Bin stated during Nio's Q2 2025 earnings call that the company's long-term goal is to achieve a gross margin of 20%. Among them, the target gross margin for the Nio brand is to reach 20%, and then strive for 25% on that basis. The gross margin for the Ladao brand will aim for a higher gross margin based on a 15% gross margin. The gross margin for the Firefly brand is around 10%. The company has made sufficient preparations in product definition to provide strong cost support for aggressive pricing, and Nio's new generation of products has sufficient cost competitiveness, which is based on the long-term accumulation of self-research technology and cost control measures that have achieved cost reduction capabilities