NIO Outlines Long-Term Sales Mix Target: NIO, Onvo, and Firefly at ~3:6:1; Slows Overseas Expansion Pace

At a media briefing on May 23 to discuss Q1 financial results, Li Bin, founder, chairman, and CEO of NIO, outlined the company’s long-term sales volume expectations for its three brands—NIO, Onvo (Le Dao), and Firefly—stating that their eventual sales ratio would be approximately 3:6:1, or roughly 35%:55%:10%. He emphasized that this ratio refers solely to sales volume structure and does not reflect revenue or profit distribution. Li explained that the NIO brand will continue focusing on the premium market. Onvo targets the broader family vehicle segment; achieving monthly sales of 20,000 units would generate significant economies of scale. Its future growth will rely more on channel expansion into lower-tier cities. Currently, Onvo has over 400 stores, primarily located in Tier-1 and Tier-2 cities. Firefly, positioned as “small yet distinctive,” will not pursue a low-price, high-volume strategy. The goal is to increase its current monthly deliveries of 5,000–6,000 units to 8,000–9,000 units, with annual sales of 100,000 units considered an ideal outcome. Product size and brand identity must remain restrained and consistent. Regarding overseas markets, Li clarified that NIO is not withdrawing but will slow its pace and adopt a more cautious approach to evaluating return on investment. The company will prioritize the Chinese domestic market, and its international operations will increasingly leverage local partnerships. He also noted that the market size of Xinjiang alone is twice that of Norway, highlighting substantial remaining growth potential within China’s regional markets.