Li Bin: NIO's new generation of products have sufficient cost competitiveness.

On September 2, Li Bin stated during NIO's second quarter 2025 financial report conference call that the company's long-term goal is to achieve a gross profit margin of 20%. Specifically, the NIO brand aims to achieve a gross profit margin of 20% and strive for 25% on that basis. The Leopaard brand will seek to achieve higher gross profit margins on top of the 15% gross profit margin. The ES8 has a gross profit margin of around 10%. The company has made sufficient preparations in product definition, providing strong cost support for aggressive pricing. NIO's new generation products have strong cost competitiveness, which is based on the long-term accumulation of self-developed technology and cost control measures to achieve cost reduction capabilities.