Nio Inc. (NIO) shares climbed Tuesday after the Chinese electric vehicle maker rolled its one millionth production vehicle off the assembly line at its F2 NeoPark factory in Hefei, China.

It's the kind of milestone that automakers love to celebrate, and Nio went all out. The company held a ceremony to mark the occasion and unveiled a commemorative limited-edition version of its ET9 sedan. As for that millionth car? It was donated to the Anhui Mozi Quantum Technology Foundation, where it will serve experts working in quantum technology, according to CnEVPost.

Founder, chairman and CEO William Li used the moment to outline ambitious plans for the road ahead. He said the company is targeting sustained annual sales growth of 40% to 50%, which would be impressive by any standard. Li also emphasized continued infrastructure expansion to support charging and battery swap stations across key markets, a critical piece of Nio's strategy to differentiate itself in China's crowded EV landscape.

Strong Delivery Numbers Close Out 2025

The production milestone comes on the heels of strong delivery data that shows Nio finishing 2025 on a high note. The company delivered a record 124,807 vehicles in the fourth quarter, representing a 71.7% year-over-year increase.

For the full year, Nio delivered 326,028 vehicles, up 46.9% compared to 2024. That brings cumulative deliveries to 997,592 units as of December 31, 2025, putting the company just shy of the million-unit mark before Tuesday's production announcement officially pushed it over the line.

As a major rival to Tesla Inc. (TSLA) in the Chinese market, Nio's growth trajectory shows it's gaining traction despite intense competition from both domestic and international players. The question now is whether the company can maintain this momentum while hitting those aggressive 40-50% growth targets Li laid out.

NIO Price Action: Nio shares were up 2.26% at $4.97 during premarket trading on Tuesday, according to market data.