---
title: "NIO conference call: Long-term goal is to sell 40,000 vehicles per month, with a gross profit margin of 25%, and the third factory will start production in September next year | Financial Report Insights"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/213570015.md"
description: "Li Bin stated that the penetration rate of the domestic new energy vehicle market is expected to exceed 80% within two years; the Ludo L60 will start delivery at the end of September, with a total of 20,000 L60 units expected to be delivered in the second half of the year"
datetime: "2024-09-05T17:35:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/213570015.md)
  - [en](https://longbridge.com/en/news/213570015.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/213570015.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/213570015.md) | [繁體中文](https://longbridge.com/zh-HK/news/213570015.md)


# NIO conference call: Long-term goal is to sell 40,000 vehicles per month, with a gross profit margin of 25%, and the third factory will start production in September next year | Financial Report Insights

In the second quarter, NIO delivered an impressive performance: both delivery volume and revenue hit record highs, net losses significantly decreased, and the third-quarter delivery guidance exceeded market expectations.

During a conference call on Thursday evening, NIO's Chairman and CEO, William Li, stated that in the long term, with the release of new products and updates to existing products, NIO's monthly sales volume in China could reach 30,000 to 40,000 units, achieving an operating target of 25% gross margin.

Li also announced that the first model of the Lixiang brand targeting mainstream family market, the L60, is scheduled to be officially launched on September 19 and deliveries will begin at the end of September. Li expects a total of 20,000 L60 units to be delivered in the second half of this year.

According to him, the first mass-produced L60 vehicle rolled off the production line on August 15, with orders exceeding expectations. He mentioned that the pre-sale price of this car is 219,900 yuan, with room for adjustment upon official launch. **The L60's supply chain is prepared to deliver 10,000 units per month this year, with the aim of reaching 20,000 units per month next year.**

In addition, Li revealed that **NIO has started constructing its third factory, which is expected to commence operations in September next year.**

The financial report released on Thursday morning showed that NIO delivered a record high of 57,373 vehicles, with automotive sales revenue of 15.68 billion yuan, a 118.2% increase from the same period last year. The automotive gross margin was 12.2%, a 6-percentage-point increase from the same period last year, surpassing the expected 11.5%.

NIO expects the delivery volume in Q3 this year to be between 61,000 and 63,000 units, a year-on-year increase of 10% to 13.7%, with total revenue expected to be between 19.109 billion and 19.669 billion yuan, a year-on-year increase of 0.2% to 3.2%. Both are record highs.

Regarding the highly anticipated NIO third brand "Firefly," **NIO stated that deliveries are expected to begin in 2025.**

Li mentioned that NIO has established three brands covering a price range from 140,000 to 800,000 yuan. From a production capacity perspective, NIO is preparing for the full line of products in 2025-2026. The F2 factory has started double-shift production, and by the end of September to October, it will reach double-shift production capacity.

According to NIO, **the company's losses in other businesses are narrowing**, with increasing user base, improved efficiency in after-sales services, and growing revenue and profits from battery swapping services.

NIO's battery swapping station business can achieve breakeven when the daily battery swap volume exceeds 60 swaps. Currently, the average daily swap volume is between 30 and 40 swaps, **and profitability is expected to be achieved soon.**

Li believes that the penetration rate of new energy vehicles in China has already exceeded 50%, whether pure electric or plug-in hybrid vehicles, accelerating the replacement of traditional fuel vehicles. Within two years, the penetration rate of new energy vehicles in China is expected to exceed 80%

### Related Stocks

- [NIO-SW (09866.HK)](https://longbridge.com/en/quote/09866.HK.md)
- [NIO Inc (NIO.US)](https://longbridge.com/en/quote/NIO.US.md)
- [NIO Inc (NIO.SG)](https://longbridge.com/en/quote/NIO.SG.md)

## Related News & Research

- [Nio to launch 2026 ES6, EC6, ET5, and ET5 Touring on Apr 2](https://longbridge.com/en/news/281291925.md)
- [5 Simple ETFs to Buy With $1,000 and Hold for a Lifetime](https://longbridge.com/en/news/281345615.md)
- [Warren Buffett Admits He Sold Apple Too Early, Eyes Future Buying But Not Yet](https://longbridge.com/en/news/281336451.md)
- [BUZZ-Rosenblatt says finding partner for Snap's smart glasses unit tough](https://longbridge.com/en/news/281357569.md)
- [BUZZ-Street View: Nike's turnaround remains work in progress](https://longbridge.com/en/news/281331333.md)