New Car Ignites Red-Hot Sales, Stocks Soar: Is NIO Finally Getting Its Due?

In recent years, Ideal and NIO have been "three fools" in the electric vehicle industry, with both companies having their strengths and weaknesses. While Ideal focused on increasing its range and targeting young families, NIO played to its design, service, and battery swap advantages, taking a more direct route.

However, from July's last two days, the former friends stood facing each other in the pure electric sedan market, with Ideal launching the i8 and L90, and NIO following suit. The capital markets responded differently to the two companies' new models, with Ideal's stock price experiencing a significant downturn, while NIO's US stocks surged 7.98% on the day of its model launch, followed by a strong performance in Hong Kong, with a cumulative increase of over 40% in the past 20 trading days.

Does this mean that Li Bin and NIO have finally gotten their break?

NIO's L90 is undoubtedly a critical battle for the company's future. Whether it can achieve sales targets will not only determine whether it can restore market confidence but also directly impact its ability to make a profit in the fourth quarter. If it fails, NIO will face unprecedented pressure.

For now, it's too early to pop the champagne, but all signs indicate that L90 has initially withstood both corporate and market expectations, demonstrating considerable support.

This support comes primarily from its highly competitive pricing strategy. L90 launched Pro, Max, and Ultra versions, with final prices locked in at RMB 26.58 million, RMB 27.98 million, and RMB 29.98 million, respectively. What's more crucial is that if customers choose to purchase the BaaS electric separation solution, the price threshold will be further reduced to RMB 17.98 million, RMB 19.38 million, and RMB 21.38 million, respectively, revealing a determination to seize the opportunity.

In addition to its competitive pricing, L90's product strength also provides a solid foundation for hot sales. With a length of 5145mm, a wheelbase of 3110mm, a high-voltage platform of 900V, and a fast-charging system with dual supplies, as well as a full-size three-row seat, refrigerator, and large sofa, L90 has almost no noticeable shortcomings compared to its peers. Moreover, it excels in areas such as loading space, interior quality, and NIO's unique battery swap experience.

For example, its innovative 240L front storage compartment (with drainage design) frequently appears in user-share fishing and camping videos, even allowing for the easy accommodation of two adults. The rear storage compartment not only has a regular capacity but also features a deep and spacious area that effectively solves the problem of insufficient storage space when carrying six people, highlighting its practicality.

Furthermore, NIO's Shen Fei-led brand has absorbed lessons from past experiences in areas such as exhibition setup, test drives, and initial inventory management, showcasing higher-efficiency back-end support capabilities.

However, it cannot be ignored that NIO still faces significant sales pressure in the second half of the year. To support its annual targets, L90's success is only one necessary condition.

NIO aims to double its sales this year, with a total of 22.2 million vehicles sold last year, equivalent to this year's target of 44.4 million vehicles. With half the year already gone, NIO has only sold 11.4 million vehicles in the first six months, accounting for about 25.71% of its annual target.

At the same time, NIO's financial pressure cannot be ignored. Since its establishment, the company has accumulated losses exceeding trillion yuan. The latest financial report shows that NIO's revenue exceeded RMB 120 billion in the first quarter of 2025, with a year-on-year increase of over 21%, while net loss reached RMB 67.5 billion, with a year-on-year expansion of 30.2%.

Furthermore, NIO's asset-liability ratio is as high as 92.55%, far exceeding the industry's 70% warning line, and its cash reserve has decreased to RMB 260 billion, with available funds of less than RMB 81 billion. Combining past financial reports, NIO has accumulated net losses of over trillion yuan from 2016 to 2025.

The massive losses have raised widespread doubts from both consumers and the capital markets, prompting Li Bin to take a more aggressive reform stance externally. In addition to internal adjustments and communication with media, he has also held numerous press conferences to emphasize NIO's determination to reduce costs and increase efficiency this year, as well as its commitment to establishing basic business units within the company.