Three days from NIO's Q4 2025 earnings — and potentially its first-ever quarterly

profit. This week delivered three major stories that every NIO investor needs

to understand before Monday.

WHAT WE COVER:

— NIO hits 2 million electric drive systems produced in Hefei — 23 months to

double from 1 million, 99.6% pass rate, world-first 925V winding technology

— NIO revamps European operations: Germany, Netherlands & Sweden shifting to

asset-light distributor model — why this is actually the right strategic call

— Norway retains direct sales and why that distinction matters

— BYD's 2nd-gen Blade Battery: 9-minute 0-97% charge, 1,500kW peak chargers,

20,000 new stations planned — honest breakdown of what it means for NIO's swap thesis

— Why NIO's 3,750 built swap stations beating BYD's 20,000 station plan

— Why the ES8 buyer and the BYD buyer are not the same person

— March 10th earnings: what to watch and why this report is different from any before it

Courtside Financial. Hosted by Obi. NIO bull. Objective lens.