$NIO Inc.(NIO)$ Based on my math and analysis, I think they need to average 35K-45K deliveries to become profitable. Even at the high end of that range, it's just about double recent months' delivery numbers. I think they could hit 35K by March with Onvo fully ramping up by then and Firefly delivering as well. I think they could hit 45K within a year. I also think that their biggest infrastructure investments have already been made other than the new factory they're building and some additional swap stations, so they'll probably reduce costs in some areas. I think it's likely Nio will be profitable by late '25. If margins continue to rise, that could move up the timeline to summer of '25.
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