NIO Q2 2026 revenue rises 69.1% as deliveries jump 49.4%

NIO (NYSE: NIO ) held its second-quarter earnings conference call on Tuesday.

Below is the complete transcript from the call.

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View the webcast at Summary NIO Inc. delivered 107,658 smart EVs in Q2 2026, marking a 49.4% year-over-year increase, with strong performance across NIO, Onvo, and Firefly brands.

Q2 2026 revenues reached 32.1 billion RMB, up 69.1% year-over-year; vehicle sales contributed 29.1 billion RMB, driven by increased deliveries and a favorable product mix.

Gross margin stood at 18.4%, with vehicle margin at 18.5%, despite rising raw material and chip costs.

The company maintained positive operating cash flow and free cash flow, increasing cash reserves to 56.7 billion RMB.

Strategic initiatives included the launch of the flagship SUV ES9 and the rollout of a new version of their smart driving system to over 700,000 users, enhancing user experience and adoption.

NIO plans to expand its power swap network, having launched its 4,000th power swap station, and continues to explore value-added services such as electricity trading.

Management expressed confidence in maintaining vehicle gross margins despite cost pressures and indicated a focus on brand growth and strategic product launches in 2027.

The company anticipates achieving a monthly delivery average of over 40,000 units in Q4 2026 and expects annual volume growth of 40-50% over the mid to long term.

Full Transcript OPERATOR Hello ladies and gentlemen.

Thank you for standing by for NIO Inc. second quarter 2026 earnings conference call.

At this time, all participants are in listen-only mode.

Today's conference call is being recorded.

I will now turn the call over to your host, Mr.

Roy Chen, AVP and Head of Investor Relations, Corporate Finance and Strategic Investment of the Company.

Please go ahead, Roy.

Roy Chen, AVP and Head of Investor Relations, Corporate Finance and Strategic Investment Good morning and good evening everyone.

Welcome to NIO's second quarter 2026 earnings conference call.

The Company's financial and operating results were published in the press release earlier today and are posted on the company's IR website.

On today's call we have Mr.

William Li, founder, Chairman of the Board and Chief Executive Officer, and Ms.

Danny Chu, Chief Financial Officer.

Before we continue, please be kindly reminded that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S.

Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve inherent risks and uncertainties.

As such, the Company's actual results may be materially different from views expressed today.

Further information regarding risks and uncertainties is included in certain filings of the Company with the U.S.

Securities and Exchange Commission, the Stock Exchange of Hong Kong Limited, and the Singapore Exchange Securities Trading Limited.

The Company does not assume any obligation to update any forward-looking statements except as required under applicable law.

Please also note that NIO's earnings press release and this conference call include discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures.

Please refer to NIO's press release which contains a reconciliation of the unaudited non-GAAP measures to comparable GAAP measures.

With that, I will now turn the call over to our CEO, Mr.

William Li.