How did NIO Inc.'s revenue change from 2023 to 2024?

NIO Inc. reported $9.3B in revenue for fiscal year 2024. This represents a +18.3% change compared to 2023. NIO's FY2024 revenue climbed 18.3% to $9.26 billion as the new mass-market ONVO brand and its flagship line drove deliveries higher despite a brutal domestic price war.

FY2024 Revenue

$9.3B

▲ 18.3% vs FY2023 ($7.8B)

Source: Annual report / company filing

NIO Inc. reported $9.3B in revenue for fiscal year 2024. This represents a growth of 18.3% compared to the 2023 figure of $7.8B. In 2025, revenue increased to $12.5B.

NIO's FY2024 revenue climbed 18.3% to $9.26 billion as the new mass-market ONVO brand and its flagship line drove deliveries higher despite a brutal domestic price war.

Revenue by Year

FY2025 FY2024 FY2023 FY2022 FY2021 FY2020

NIO Inc. Annual Revenue History

Year	Revenue	YoY Change
FY2025	$12.5B	+35.1%
FY2024	$9.3B	+18.3%
FY2023	$7.8B	+9.5%
FY2022	$7.2B	+26.5%
FY2021	$5.7B	+115.6%
FY2020	$2.6B	—

Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.

← Previous year

FY2023: $7.8B

Next year →

FY2025: $12.5B

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