Nio expects to turn profitable in Q4

Chinese electric vehicle maker Nio said it is confident to "turn profitable" in the fourth quarter of this year, as the company sees delivery volumes stabilizing, margins improving and a global expansion strategy taking shape under a new partnership-led model.

"We delivered around 24,925 vehicles in June, and the momentum is clearly building," said Nio founder and CEO Li Bin on Tuesday.

"We're confident about hitting our fourth-quarter profitability target. The teams are executing better, the product mix is improving, and the cost structure is getting more efficient," Li said.