Source: NIO

NIO Inc (NYSE: NIO; HKG: 9866) reported delivery of 10,677 units of its third-generation ES8 SUV in November 2025, setting a new monthly high for the model. According to the company announcement, this represents a 59.29% increase from October’s 6,703 units.

The ES8 accounted for 29.43% of NIO’s 36,275 total deliveries in November, the model’s highest share since October 2020. Within NIO-branded deliveries (18,393 units), the ES8 comprised 58.05%.

Source: NIO

The third-generation ES8 was launched at NIO Day 2025 on September 20, with deliveries starting September 21. NIO had delivered 2,803 ES8 in September. From September to November, NIO delivered 20,272 units of its 3rd gen. large SUV.

On November 29, NIO said the model had surpassed 20,000 units in 70 days, becoming the fastest pure-electric vehicle priced above CNY 400,000 to reach this milestone in China. The last 10,000 units were delivered in 29 days, less than a full delivery month.

The ES8 starts at CNY 406,800 (c. $57,500) with a battery pack. Battery-as-a-service (BaaS) pricing lowers starting price to CNY 298,800 (c. $42,300).

NIO targets 40,000 ES8 deliveries for 2025, with roughly 20,000 units still required in December to meet their initial goal of 40,000 ES8.

During an earnings call on November 25, management said Q4 vehicle margin was expected to rise to around 18%, up from 14.7% in Q3, and projected the ES8’s gross margin to exceed 20%. CEO William Li said the company had “no Plan B” for its aim of achieving fourth-quarter profitability.

Demand for the ES8 reflects rising consumer interest in large three-row electric SUVs in the premium segment. December performance will determine whether NIO meets its full-year delivery target.

Conversion rate: 1 USD = 7.071 CNY as of December 1, 2025