
The company started selling its first road car in 2018, having made a handful of track sports cars beforehand.
It was soon struggling financially but with the help of funding it survived that. It's known for battery swap stations which overcomes wait times for recharging.
Nio is a premium electric car marque in the mould of Tesla. During 2024 it added a mainstream electric brand ONVO which stands for On Voyage. Now the Firefly sub brand has arrived to challenge the Smart brand and even MINI although I'm not sure it is quite at that level.
In 2023, the Nio company sold 160,000 cars and 222,000 a year later. At the three quarter mark of 2025, 201,000 Nio, ONVO and Firefly cars were delivered, up 40%, 26% and 41% per quarter. Deliveries are only down 9% on a full 2024 compared with three quarters of 2025. Q4 2025 is yet to be added which will take 2025 well over the 2024 total.
In the chart below we can see Nio remains the best selling brand with 111,000 units, ONVO 70,000 and Firefly 20,000. ONVO has experienced headwinds and hasn't been as well received as hoped. The company is still confident things will improve as it addresses problems the brand has faced.
Data & photo source: Nio.