<blockquote>
<ul>
<li>蔚来汽车的股票今年上涨了 26%。本文回顾了推动价格波动的主要事件。</li>
<li>财报公告、融资事件和新车型发布是影响蔚来汽车股价的最重要因素。</li>
</ul>
</blockquote>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025123101511476.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025123101511476.jpg"/></p>
<p>（2024 年 4 月北京车展上蔚来汽车展位的蔚来标志。图片来源：CnEVPost）</p>
<p>在 2025 年最后一天结束之前，蔚来汽车（NYSE: NIO, HKG: 9866）在美国股市上全年上涨了 26%。</p>
<p>其股票在 2025 年经历了显著的波动，主要受到特定事件的驱动。</p>
<p>随着 2025 年接近尾声，CnEVPost 旨在在本文中回顾主要事件。</p>
<p>加入我们在 Telegram 或 Google News</p>
<p>总体而言，财报公告和融资事件是蔚来汽车股价波动的最重要驱动因素。</p>
<p>其次是新车型发布，特别是与 Onvo L90 和第三代蔚来 ES8 相关的发展，这也显著影响了蔚来汽车的股价波动。</p>
<p>在继续阅读之前，您可以通过下面的互动图表快速查看这些主要事件及其对应的蔚来 ADR 价格。</p>
<p>蔚来美国股价 2025（NYSE: NIO）</p>
<p>收盘价 事件</p>
<p>2025 年第一季度相对平静，因为这是中国春节假期期间，中国汽车市场通常进入淡季。</p>
<p>2 月 25 日，Onvo 发布了其 L90 SUV（运动型多用途车）的第一张官方图片，为该车型的发布预热。</p>
<p>尽管 L90 在图片中被重重伪装，但似乎激发了投资者的乐观情绪，推动蔚来汽车的股票在次日上涨了 10.54%。</p>
<p>3 月 10 日，36Kr 报道蔚来内部推出了一种名为 CBU（单元业务）的管理机制，强调加强成本控制。根据报告，该系统预计将在第二季度全面实施。</p>
<p>这导致蔚来汽车的股价大幅上涨，3 月 11 日收盘上涨了 17.04%。蔚来随后在财报电话会议中确认了该系统。</p>
<p>3 月 27 日，在几天的股价下跌后，蔚来宣布计划发行新股融资，以资助研发并增强其资产负债表。这导致股价进一步下跌。</p>
<p>4 月 2 日，蔚来更换了子品牌 Onvo 的负责人，前蔚来动力负责人沈飞接替艾伦·艾作为新任 Onvo 总裁。</p>
<p>4 月 7 日，蔚来宣布完成新股发行，共筹集了 40.3 亿港元。</p>
<p>随后，蔚来推出了几款新车型：4 月 19 日，子品牌 Firefly 的第一款车型上市；5 月 16 日，更新版蔚来 ES6 和蔚来 EC6 发布；5 月 25 日，更新版 ET5 和 ET5 Touring 发布。</p>
<p>6 月 3 日，蔚第一季度财报显示净亏损同比增加 30%，并出现经营现金流出。公司指出流动负债超过流动资产。</p>
<p>尽管财报表现平平，蔚来汽车的股价在 6 月 4 日收盘上涨了 6.23%，而 6 月 3 日则基本持平。</p>
<p>7 月 10 日，Onvo 以具有竞争力的价格开始 L90 的预售，成为蔚来随后多日股价上涨的关键驱动因素。</p>
<p>L90 的试驾于 7 月 23 日开始，该车型于 7 月 31 日正式发布。</p>
<p>从 7 月 10 日到 7 月 31 日，蔚来汽车的股价上涨了 40%。</p>
<p>在 L90 之后，第三代 ES8 的相关发展成为推动蔚来汽车股价上涨的第二大因素。</p>
<p>8 月 21 日，蔚来发布了第三代 ES8，并以激进的定价开始预售。当天蔚来股价上涨了 9.27%，次日又上涨了 14.44%。</p>
<p>8 月 25 日，蔚来在香港上市的股票在持续的乐观情绪中创下近一年来的新高。</p>
<p>9 月 2 日，蔚来发布了第二季度财报，显示自 2023 年第四季度以来的最小净亏损。此后，蔚来股价连续几天下跌。</p>
<p>9 月 10 日，蔚来在新加坡交易的股票意外停牌，随后公司宣布计划发行新股以筹集约 10 亿美元。</p>
<p>其美国 ADR 在 9 月 10 日收盘下跌 8.92%，但随后经历了五个连续交易日的上涨，累计上涨 30%。这可能是由于投资者倾向于认为融资将有助于改善经营状况。</p>
<p>9 月 20 日，蔚来正式推出第三代 ES8，价格较预售价格进一步降低，并承诺 2025 年年产能力达到 4 万辆。</p>
<p>蔚来股价随后略微下跌后反弹，于 10 月 2 日达到年内收盘高点 7.89 美元。</p>
<p>10 月 16 日，中国媒体财新报道蔚来被新加坡主权财富基金 GIC Private Limited 起诉。当天蔚来在美国市场开盘近跌 8%，但收盘时恢复了损失，微涨 0.15%。</p>
<p>蔚来股价似乎未受到诉讼的影响，在 10 月 16 日至 11 月 5 日期间累计上涨约 7%。</p>
<p>然而，在 11 月期间，蔚来股价稳步下跌，月跌幅约为 24%。由于此期间没有关于蔚来的重大新闻，跌幅可能源于中国汽车市场整体疲软，随着中国的车辆置换补贴逐步退出。</p>
<p>11 月 25 日，蔚来发布了第三季度财报，显示净亏损减少 31%。财报发布后，其股价连续几天下跌，12 月大部分时间交易在 5 美元左右。</p>
<p>12 月 30 日，中国宣布将在 2026 年继续提供置换补贴。大多数在美国交易的中国汽车股票上涨，蔚来收盘上涨 3%，报 5.50 美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025122904554761-768x432.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025122904554761-768x432.jpg"/></p>
<p>蔚来汽车在第三代 ES8 交付第 40,000 辆，距离第 30,000 辆里程碑仅 11 天</p>
<p>这距离第三代 ES8 发布已过去 100 天，表明 12 月的交付量将达到约 20,000 辆。</p>

蔚来汽车

蔚来-SW

<p>蔚来汽车的股票在 2025 年上涨了 26%，受到财报公告、融资活动和新车发布等关键事件的影响。重要时刻包括 Onvo L90 SUV 的发布、成本控制新管理机制的引入，以及第三代 ES8 的推出。尽管经历了一些波动，蔚来汽车的股票在积极进展后出现了显著上涨，包括预售和竞争性定价策略。年末，蔚来汽车的股票达到了 7.89 美元的高点，反映出投资者在持续挑战中仍然保持乐观</p>

<blockquote>
<ul>
<li>Nio's stock has risen 26 percent this year. This article reviews the major events driving price movements.</li>
<li>Earnings announcements, financing events, and new vehicle launches were among the most significant factors influencing Nio's stock price.</li>
</ul>
</blockquote>
<div class="lb-trans"><blockquote>
<ul>
<li>蔚来汽车的股票今年上涨了 26%。本文回顾了推动价格波动的主要事件。</li>
<li>财报公告、融资事件和新车型发布是影响蔚来汽车股价的最重要因素。</li>
</ul>
</blockquote>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025123101511476.jpg" alt="" original-src="https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025123101511476.jpg"/></p>
<p>(The Nio logo at the company's booth during the Beijing auto show in April 2024. Image credit: CnEVPost)</p>
<div class="lb-trans"><p>（2024 年 4 月北京车展上蔚来汽车展位的蔚来标志。图片来源：CnEVPost）</p>
</div><p>Before the final day of 2025 concluded, Nio Inc (NYSE: NIO, HKG: 9866) had gained 26 percent on the US stock market over the year.</p>
<div class="lb-trans"><p>在 2025 年最后一天结束之前，蔚来汽车（NYSE: NIO, HKG: 9866）在美国股市上全年上涨了 26%。</p>
</div><p>Its stock experienced significant volatility throughout 2025, largely driven by specific events.</p>
<div class="lb-trans"><p>其股票在 2025 年经历了显著的波动，主要受到特定事件的驱动。</p>
</div><p>As 2025 draws to a close, CnEVPost aims to recap the major events in this article.</p>
<div class="lb-trans"><p>随着 2025 年接近尾声，CnEVPost 旨在在本文中回顾主要事件。</p>
</div><p>Join us on  Telegram  or  Google News</p>
<div class="lb-trans"><p>加入我们在 Telegram 或 Google News</p>
</div><p>Overall, earnings announcements and financing events were the most significant drivers of Nio's stock price fluctuations.</p>
<div class="lb-trans"><p>总体而言，财报公告和融资事件是蔚来汽车股价波动的最重要驱动因素。</p>
</div><p>The next most influential factors were new model launches, particularly developments surrounding the Onvo L90 and third-generation Nio ES8, which also significantly impacted Nio's stock price movements.</p>
<div class="lb-trans"><p>其次是新车型发布，特别是与 Onvo L90 和第三代蔚来 ES8 相关的发展，这也显著影响了蔚来汽车的股价波动。</p>
</div><p>Before reading further, you can quickly view these major events and their corresponding Nio ADR prices via the interactive chart below.</p>
<div class="lb-trans"><p>在继续阅读之前，您可以通过下面的互动图表快速查看这些主要事件及其对应的蔚来 ADR 价格。</p>
</div><p>Nio US stock price 2025 (NYSE: NIO)</p>
<div class="lb-trans"><p>蔚来美国股价 2025（NYSE: NIO）</p>
</div><p>Close Price  Event</p>
<div class="lb-trans"><p>收盘价 事件</p>
</div><p>The first quarter of 2025 was relatively quiet, as it was the period of the Chinese New Year holiday, when the Chinese auto market traditionally enters a slow season.</p>
<div class="lb-trans"><p>2025 年第一季度相对平静，因为这是中国春节假期期间，中国汽车市场通常进入淡季。</p>
</div><p>On February 25, Onvo released the first official image of its L90 SUV (sport utility vehicle), initiating pre-launch buzz for the model.</p>
<div class="lb-trans"><p>2 月 25 日，Onvo 发布了其 L90 SUV（运动型多用途车）的第一张官方图片，为该车型的发布预热。</p>
</div><p>Despite the L90 being heavily camouflaged in the image, it seemed to spark investor optimism, driving Nio's stock up 10.54 percent the following day on the US market.</p>
<div class="lb-trans"><p>尽管 L90 在图片中被重重伪装，但似乎激发了投资者的乐观情绪，推动蔚来汽车的股票在次日上涨了 10.54%。</p>
</div><p>On March 10, 36Kr reported that Nio had internally launched a management mechanism called the CBU (Cell Business Unit), emphasizing enhanced cost control. This system was expected to be fully implemented in the second quarter, per the report.</p>
<div class="lb-trans"><p>3 月 10 日，36Kr 报道蔚来内部推出了一种名为 CBU（单元业务）的管理机制，强调加强成本控制。根据报告，该系统预计将在第二季度全面实施。</p>
</div><p>This drove a significant surge in Nio's stock price, which closed up 17.04 percent on March 11. Nio subsequently confirmed this system during its earnings call.</p>
<div class="lb-trans"><p>这导致蔚来汽车的股价大幅上涨，3 月 11 日收盘上涨了 17.04%。蔚来随后在财报电话会议中确认了该系统。</p>
</div><p>On March 27, amid several days of share price declines, Nio announced plans to issue new shares for financing to fund R&amp;D and strengthen its balance sheet. This led to further share price declines.</p>
<div class="lb-trans"><p>3 月 27 日，在几天的股价下跌后，蔚来宣布计划发行新股融资，以资助研发并增强其资产负债表。这导致股价进一步下跌。</p>
</div><p>On April 2, Nio replaced the head of sub-brand Onvo, with Shen Fei, former head of Nio Power, succeeding Alan Ai as the new Onvo president.</p>
<div class="lb-trans"><p>4 月 2 日，蔚来更换了子品牌 Onvo 的负责人，前蔚来动力负责人沈飞接替艾伦·艾作为新任 Onvo 总裁。</p>
</div><p>On April 7, Nio announced the completion of its new share issuance, raising a total of HK$4.03 billion.</p>
<div class="lb-trans"><p>4 月 7 日，蔚来宣布完成新股发行，共筹集了 40.3 亿港元。</p>
</div><p>After that, Nio launched several new models: On April 19, the first model from its sub-brand Firefly went on sale; on May 16, the updated Nio ES6 and Nio EC6 were launched; on May 25, the updated ET5 and ET5 Touring were launched.</p>
<div class="lb-trans"><p>随后，蔚来推出了几款新车型：4 月 19 日，子品牌 Firefly 的第一款车型上市；5 月 16 日，更新版蔚来 ES6 和蔚来 EC6 发布；5 月 25 日，更新版 ET5 和 ET5 Touring 发布。</p>
</div><p>On June 3, Nio's first-quarter earnings report showed a 30 percent year-on-year increase in net loss and it had an operating cash outflow. The company flagged that current liabilities exceeded current assets.</p>
<div class="lb-trans"><p>6 月 3 日，蔚第一季度财报显示净亏损同比增加 30%，并出现经营现金流出。公司指出流动负债超过流动资产。</p>
</div><p>Despite the lackluster earnings, Nio's stock price closed up 6.23 percent on June 4, following a largely flat close on June 3.</p>
<div class="lb-trans"><p>尽管财报表现平平，蔚来汽车的股价在 6 月 4 日收盘上涨了 6.23%，而 6 月 3 日则基本持平。</p>
</div><p>On July 10, Onvo began pre-sales of the L90 at competitive pricing, becoming a key driver behind Nio's subsequent multi-day stock surge.</p>
<div class="lb-trans"><p>7 月 10 日，Onvo 以具有竞争力的价格开始 L90 的预售，成为蔚来随后多日股价上涨的关键驱动因素。</p>
</div><p>Test drives for the L90 commenced on July 23, with the model officially launching on July 31.</p>
<div class="lb-trans"><p>L90 的试驾于 7 月 23 日开始，该车型于 7 月 31 日正式发布。</p>
</div><p>From July 10 to July 31, Nio's stock price climbed 40 percent.</p>
<div class="lb-trans"><p>从 7 月 10 日到 7 月 31 日，蔚来汽车的股价上涨了 40%。</p>
</div><p>Following the L90, developments surrounding the third-generation ES8 became the second major driver propelling Nio's stock price higher.</p>
<div class="lb-trans"><p>在 L90 之后，第三代 ES8 的相关发展成为推动蔚来汽车股价上涨的第二大因素。</p>
</div><p>On August 21, Nio unveiled the third-generation ES8 and commenced pre-sales with aggressive pricing. Nio's stock price rose 9.27 percent that day and surged another 14.44 percent the following day.</p>
<div class="lb-trans"><p>8 月 21 日，蔚来发布了第三代 ES8，并以激进的定价开始预售。当天蔚来股价上涨了 9.27%，次日又上涨了 14.44%。</p>
</div><p>On August 25, Nio's Hong Kong-listed shares hit a nearly one-year high amid sustained optimism surrounding the third-generation ES8.</p>
<div class="lb-trans"><p>8 月 25 日，蔚来在香港上市的股票在持续的乐观情绪中创下近一年来的新高。</p>
</div><p>On September 2, Nio released its second-quarter earnings report, showing the smallest net loss since the fourth quarter of 2023. Following this, Nio's stock price declined for several consecutive days.</p>
<div class="lb-trans"><p>9 月 2 日，蔚来发布了第二季度财报，显示自 2023 年第四季度以来的最小净亏损。此后，蔚来股价连续几天下跌。</p>
</div><p>On September 10, Nio's Singapore-traded shares were unexpectedly halted, after which the company announced plans to issue new shares to raise about $1 billion.</p>
<div class="lb-trans"><p>9 月 10 日，蔚来在新加坡交易的股票意外停牌，随后公司宣布计划发行新股以筹集约 10 亿美元。</p>
</div><p>Its US ADRs closed down 8.92 percent on September 10 but then experienced five consecutive trading days of gains, accumulating a 30 percent increase. This may have been due to investors leaning toward the view that the financing would help improve operating conditions.</p>
<div class="lb-trans"><p>其美国 ADR 在 9 月 10 日收盘下跌 8.92%，但随后经历了五个连续交易日的上涨，累计上涨 30%。这可能是由于投资者倾向于认为融资将有助于改善经营状况。</p>
</div><p>On September 20, Nio officially launched the third-generation ES8, with a price further reduced from the pre-sales price, and pledged an annual production capacity of 40,000 units in 2025.</p>
<div class="lb-trans"><p>9 月 20 日，蔚来正式推出第三代 ES8，价格较预售价格进一步降低，并承诺 2025 年年产能力达到 4 万辆。</p>
</div><p>Nio's stock price subsequently dipped slightly before rebounding, reaching its year-to-date closing high of $7.89 on October 2.</p>
<div class="lb-trans"><p>蔚来股价随后略微下跌后反弹，于 10 月 2 日达到年内收盘高点 7.89 美元。</p>
</div><p>On October 16, a report by Chinese media outlet Caixin highlighted that Nio was being sued by Singapore's sovereign wealth fund GIC Private Limited. Nio opened nearly 8 percent lower on the US market that day but recovered its losses by closing up 0.15 percent.</p>
<div class="lb-trans"><p>10 月 16 日，中国媒体财新报道蔚来被新加坡主权财富基金 GIC Private Limited 起诉。当天蔚来在美国市场开盘近跌 8%，但收盘时恢复了损失，微涨 0.15%。</p>
</div><p>Nio's stock price appeared largely unaffected by the lawsuit, accumulating a roughly 7 percent gain between October 16 and November 5.</p>
<div class="lb-trans"><p>蔚来股价似乎未受到诉讼的影响，在 10 月 16 日至 11 月 5 日期间累计上涨约 7%。</p>
</div><p>Throughout November, however, Nio's stock price declined steadily, falling about 24 percent for the month. With no major news regarding Nio during this period, the drop likely stemmed from broader weakness in China's auto market as China's vehicle trade-in subsidies gradually phased out.</p>
<div class="lb-trans"><p>然而，在 11 月期间，蔚来股价稳步下跌，月跌幅约为 24%。由于此期间没有关于蔚来的重大新闻，跌幅可能源于中国汽车市场整体疲软，随着中国的车辆置换补贴逐步退出。</p>
</div><p>On November 25, Nio released its third-quarter earnings report, showing a 31 percent reduction in net losses. Its stock price declined for several days following the earnings release, then traded around $5 for most of December.</p>
<div class="lb-trans"><p>11 月 25 日，蔚来发布了第三季度财报，显示净亏损减少 31%。财报发布后，其股价连续几天下跌，12 月大部分时间交易在 5 美元左右。</p>
</div><p>On December 30, China announced it would continue offering trade-in subsidies in 2026. Most Chinese auto stocks traded in the US rose, with Nio closing up 3 percent at $5.50.</p>
<div class="lb-trans"><p>12 月 30 日，中国宣布将在 2026 年继续提供置换补贴。大多数在美国交易的中国汽车股票上涨，蔚来收盘上涨 3%，报 5.50 美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025122904554761-768x432.jpg" alt="" original-src="https://cdn.cnevpost.com/wp-content/uploads/2025/12/2025122904554761-768x432.jpg"/></p>
<p>Nio hits 40,000th delivery of 3rd-gen ES8, 11 days after 30,000th milestone</p>
<div class="lb-trans"><p>蔚来汽车在第三代 ES8 交付第 40,000 辆，距离第 30,000 辆里程碑仅 11 天</p>
</div><p>This comes 100 days after the third-generation ES8's launch, indicating December deliveries will reach about 20,000 units.</p>
<div class="lb-trans"><p>这距离第三代 ES8 发布已过去 100 天，表明 12 月的交付量将达到约 20,000 辆。</p>
</div>

Nio in 2025: A look back at key moments driving stock price changes

- Nio Inc 2025 年股价上涨 26%。  
- 主要因素包括财报发布、融资事件和新车上市。  
- 三季度净亏损减少 31%，市场走势受背景影响。

2025 年蔚来汽车：回顾推动股价变化的关键时刻