(Yicai) Nov. 21 -- Nio expects to turn a profit in 2026, with sales of the Chinese electric vehicle maker to double next year, according to its chief executive officer.

Nio aims to sell around 450,000 vehicles in 2025, Li Bin, who is also chairman of the carmaker, said at an earnings conference call yesterday.

Net loss expanded 10.9 percent to CNY5.1 billion (USD704.2 million) in the third quarter from a year earlier, while revenue fell 2.1 percent to CNY18.7 billion (USD2.6 billion), Nio said in a financial report yesterday. However, income will likely jump 15 percent to 19 percent to between CNY19.7 billion and CNY20.4 billion this quarter from a year ago, it added.

Nio delivered a record 61,855 units last quarter, with 832 under its family-orientated second brand, Onvo, the Shanghai-based carmaker noted, adding that it expects to ship 72,000 to 75,000 autos in the three months ending Dec. 31, up 44 percent to 50 percent from a year earlier.

On the same day, Nio announced that it will release the first model from its high-end third brand, Firefly, on Dec. 21. Deliveries of the auto, also named Firefly, will start in the first half of next year, it said.

Editor: Martin Kadiev