NIO ES8 Hits 120,000 Sales Across Three Generations; Li Bin Calls It Brand's "Anchor Model," Yet Company Still Hovers Near Break-Even

In June 2026, NIO delivered 40,600 new vehicles, a year-over-year increase of 62.9%, marking a new monthly high for the year. The NIO ES8, priced around RMB 400,000, was the primary sales driver. First delivered on June 28, 2018, the ES8 was NIO’s first mass-produced vehicle and the world’s first smart electric vehicle to complete three generations of iteration. To commemorate the model’s eighth anniversary, Li Tianshu, Senior Vice President of NIO, donated his personally purchased ES8 Founders Edition No. 0001—the first domestically produced premium all-electric mass-production vehicle—to the Beijing Auto Museum. On the same day, NIO announced that reservations for the five-seat version of the ES8 were now open, with its official launch scheduled for July 9. Li Bin, Founder, Chairman, and CEO of NIO, described the ES8 as the brand’s “anchor model,” citing its role in generating the majority of sales and representing NIO’s core user base. He candidly admitted that the second-generation ES8 suffered from misaligned product definition: although it featured technological and innovative improvements, it faltered in delivering high-frequency, high-perception user experiences and optimal cost allocation, resulting in conservative interior space and lower gross margins compared to the third generation. Consequently, during the development of the third-generation ES8, every investment was rigorously prioritized to ensure funds were allocated to features offering high user value and frequent usage, while maintaining a healthy gross margin. Since its launch in late September 2025, the third-generation ES8 has accumulated over 120,000 units in sales, averaging more than 10,000 units per month, successfully navigating past the “new car effect death valley.” According to Li Bin, its sustained strong sales stem from four key factors: precise product definition addressing high-frequency, essential use cases for target users; an intelligent system designed for long-term iterative upgrades; a battery replenishment ecosystem offering “charge, swap, and upgrade” flexibility; and a customer service philosophy rooted in respect for users. Qin Lihong, Co-Founder and President of NIO, revealed that among third-generation ES8 buyers, 20% are existing NIO owners purchasing additional or replacement vehicles, while the remaining 80% switched from other brands. Of these new customers, 60% previously owned traditional luxury internal combustion engine vehicles—primarily executive sedans such as the BMW 5 Series, Audi A6, and Mercedes-Benz E-Class—and 20% came from extended-range electric vehicle (EREV) users. With the addition of the five-seat variant, the ES8 is poised to further expand its appeal to young families. Data shows that in the large five-seat SUV segment, the sales ratio between pure electric and extended-range models improved dramatically—from 1:23 in Q1 2025 to 1:2.2 in Q1 2026. Qin Lihong expects this trend to accelerate, with pure electric large five-seat SUVs likely becoming the mainstream choice. Despite the significant sales growth, Li Bin stated that the company as a whole remains “on the edge of passing grade” and has not yet met internal expectations. He emphasized that NIO remains committed to its core values—“sincerity, care, foresight, and action”—which are deeply integrated into product design, technological innovation, and service systems. Against the backdrop of an industry entering a phase of stock competition and capital markets repricing auto stocks downward, Li Bin believes smart electric vehicles—as intelligent agents and energy carriers—hold far greater commercial potential than traditional automobiles, and companies should focus on long-term strategy rather than short-term market fluctuations.