NIO's revenue will grow in 2023, but losses will widen

In 2023, NIO's full-year revenue increased by 12.9% year-on-year, but its net loss expanded by 43.5% to 20.72 billion yuan. NIO increased its R&D investment, investing 13.43 billion yuan in 2023, far exceeding the R&D investment of Ideal and Xpeng Motors in the same period.