In a bold projection, Deutsche Bank has announced a significant increase in its sales forecast for Nio Inc, anticipating that the Chinese electric vehicle (EV) maker will sell an impressive 223,000 vehicles in 2025. This marks a 10% year-over-year increase and is based on the same full-year sales assumption of 450,000 units that Nio itself has set as guidance.

The research conducted by analyst Wang Bin's team comes on the heels of a recent earnings call from Nio, which shed light on the company’s roadmap. Alongside the anticipated sales for Nio, the Onvo brand is projected to reach 219,000 units—an astonishing increase from the estimated 20,000 units expected in 2024. Meanwhile, the newly established Firefly brand is forecasted to sell 8,000 units.

Nio has set ambitious goals, with management recently guiding that vehicle deliveries for the fourth quarter of this year would be between 72,000 and 75,000 units. With their eyes firmly set on growth, the company is optimistic about doubling its sales in the upcoming 2025 fiscal year. Deliveries are expected to range from 221,000 to 224,000 units in 2024, leading up to that target of about 450,000 in 2025.

Just a month prior, Deutsche Bank had indicated a sales projection of 330,000 units for Nio in 2025, which included 210,000 vehicles from the main Nio brand, 110,000 from Onvo, and 10,000 from Firefly. This latest upward revision signals confidence in Nio's trajectory and market strategy.

The Onvo sub-brand, which was initially codenamed “Alps”, officially launched its L60 model on September 19, with deliveries starting on September 28. The Onvo president, Alan Ai, recently reported that over 7,000 units of the L60 have already been sold, and Nio is eyeing an ambitious target of 20,000 deliveries for this model in a single month by 2025.

In an exciting development, Nio has revealed that its third brand, Firefly, will officially debut at the much-anticipated Nio Day on December 21, 2024. The first model under the Firefly name is expected to hit the market in the first half of 2025. Meanwhile, the Nio brand is scheduled to unveil the ET9 flagship sedan in March 2025, alongside two SUVs under the Onvo banner next year.

As part of its broader strategy, Nio plans to shift its offerings to a next-generation platform, with expectations to update several models, including the ES6, EC6, ES7, ET5 sedan, and ET5 Touring sedan, in the latter half of 2025.

With these ambitious forecasts and strategic launches, Nio is clearly gearing up to solidify its position in the competitive EV market. The question remains: can they achieve these ambitious targets and outpace rivals in the increasingly crowded electric vehicle space?